A quick post today to talk about the power of momentum. It can be a wonderful thing, but not always. Almost by definition, momentum can never really be nailed down, as it is always moving, with us or against us. Even though we can't touch it, we can certainly feel it. If you've played any sport you've likely experienced it. You're in the lead for a while and feeling good; confident that if you continue this level of performance, you'll win. Then slowly but consistently, for a period of time, every point, every call, anything close, seems to go against you. At first you discount it as a weird set of circumstances, but eventually you can't deny it any longer, the momentum has shifted.
While trying to maintain composure, you attempt to examine what has changed. Is it your own level of play or has your opponent stepped up theirs? Did you stop being aggressive while you had the lead and got too cautious? While not a deliberate decision on your part, your opponent may have sensed it. You look for ways to to get the momentum to shift back to your favor. And 99% of the time the only way to make this happen is to step up your game. It's the only thing you control.
I believe the same concept applies to our business lives. If you're a Real Estate Agent who has a successful track record of getting new listing agreements, say seven or eight out of every ten listing appointments you go on, and then you go through a period where your win or selection rate drops materially, you've experienced negative momentum. It feels bad and like the athlete above, you examine what has changed. Is it the market, the competition, your marketing plan, your personal skills of persuasion? For whatever reason your story is not resonating with your audience the way it once did. And this self exploration, while painful, is not a bad thing. Like the athlete above, we personally can have a strong impact on creating positive momentum and avoiding negative momentum, through our own actions.
As the Publisher of The Real Estate Book in 400 or so markets around North America, I can personally attest to the shifts in the market and the impact on our business.
Recently, the momentum has shifted again, this time in a positive direction for housing, for Real Estate Agents and for Publishers like The Real Estate Book. While it feels good (really good), we've learned that momentum is fleeting and can't be counted on. Instead, we should look at it as a signal, that it's time to shift our actions. We are coming out of this downturn stronger than when we entered it. Not as measured by pure ad sales, but by the courage of our convictions and the clarity of our purpose.