The Pain of Being an Estate Agent: 3 steps to turn pain into profit

By: Matt Giggs | Feb 26, 2024

Today I'm going to be talking to you about the pain of being an estate agent. I’m going to show you how to take those days when you feel desperate, down, almost like defeated – which is totally natural when you're in a people industry – and turn them into moments. I’ll show you how to use those moments to change your absolute direction.

How do you change your direction? How do you go from pain into profit in the moments where you feel like you're just going to give up? That's what we're going to be talking about today as I share some stories and the three steps that you're going to need to take in order to do that.

Before I go on, who am I? I'm Matt Giggs. I've been an estate agent for 28 years. I’ve taken branches from failure into profit. I’ve managed some of the best people to go on and build their own businesses. And I've done it myself for 11 years of building my own Estate Agency Group.

I've been involved in sales in excess of a billion pounds, and I've won pretty much every award that the industry has to offer. Now I'm not here to brag – I'm here to say to you that I've been in your shoes. You're reading this for a reason, and we're going to dive straight into how I can help you today by showing you the three steps of turning your painful days into profit:

1. Change your focus

2. Make a plan

3. Take action

All estate agents have painful days

Now hands up if you’ve had days when you just feel like giving up? I know I can't see you, but hands up – and be honest with me and with yourself. Have you wanted to give up? Have you felt absolutely broken, challenged, stressed, and like you didn’t really know what to do because the situations that you've been faced with have absolutely toppled over your dreams? They've toppled over your desire – they've toppled over your ability to go and do the job and absolutely deliver results?

Those days can come to us all. Believe me. I'm standing here now saying to you that I feel those days. 100%, I’ve felt that way in the last four weeks. But instead of taking a painful day and losing all of those hours and losing all of that energy, I shift out of it. Today, I'm going to show you how to turn a painful day into a moment, how to shift your mindset and perspective.

I'm going to give you these three steps which are going to help you move from pain to profit. But just before I go into that, I'm going to tell you a little story.

Less than three weeks ago one of the clients that I coach had one of those days. He had sales falling through, which let's be honest that happens. But not only that, he'd lost two instructions – he’d lost two clients that were going to use him because they'd gone on with somebody else. And they said ‘it's the fees’, but we all know it's got nothing to do with fees, right? Because if you've won trust you don't lose on fees.

At that moment he felt defeated because buyers weren't making decisions. He said, “We can't sell a house for love nor money.” These were his exact words. He felt desperate. He felt like the 2008 Armageddon had come again to 2023.

So what do you say to someone like that? How can you help to lift someone up who's literally at rock bottom? You start with Step 1.

Step 1: Where’s your focus as an estate agent?

We all feel this. It's completely natural for some days to be painful. As his coach I felt the need to intervene, so we hopped on a call just for 10 minutes. I've experienced a lot of pain over the years – the sleepless nights, lying awake, tearing your hair out, and going ‘what the hell am I doing?’ I've had those moments, guys. They’re completely natural, and actually it's in those moments when you absolutely grow.

You’ll grow from painful days, if you implement the three steps I’m teaching you here. You’ll learn to see these days as opportunities. You won’t be defeated or deflated. You're going to embrace it. You're going to swallow up the opportunity that these moments give you.

That sounds quite grand, but let's talk about this particular story and what we actually did together to help shift my client from that pain to some serious success in less than nine days.

In less than nine days – that is amazing right?

Focusing on what you can’t control leads to pain

Following these steps took him from where he was, desperately defeated, into a position of absolute strength. So first of all I asked him a question: “What are you focusing on at the minute?” And believe it or not, as simple as that sounds, the problem was clear when we started to talk about what he was focused on, he was focusing on losing. He was focused on the things that he couldn't control. He was focusing on the past. He was focusing on how he felt and the negativity that was surrounding the market.

We’ve all been there. It's very easy at the minute to turn your phone on in the morning, stick the news on, and all of a sudden all of the hope that you had disappears.

He felt desperate because all of his focus was on things that he had no control over. He can’t control:

- mortgage rates

- every buyer's decision

- every seller's decision

If he could control those things, he’d be an absolute magician, right? But that's not reality.

Shift your focus to what you can control as an estate agent

We're talking about his focus, so we discussed shifting his focus to things he can control – who he can speak to, what he can do to help him, how he can take control of his business journey over the next few days.

We looked at 24 available properties that he had on the market and identified 12 clients who needed help. 50% of the people that were on the market with him at that precise moment in time needed to sell, not wanted, not hoped, they needed to sell. So they needed him to focus on what they could control.

To move forward, he arranged 10 visits to go and meet these clients over the next 3 to 4 days. He then looked at offers that were outstanding and actually discussed those offers when he was out on these appointments. He didn’t go to see every client, just those who needed to hear him, because he had a strategy and a purpose.

Step 2: Estate agents need to plan for their clients' needs

After my client switched his focus to what he could control, he made a plan for each of the 12 clients who needed his help quickly. Each plan was based on the client’s desired outcomes and their needs. He gathered the data and information he needed to present to them. And he found the inspiration that their story needs to pull it all together.

Then he went and spoke to these clients – instead of sitting there at the desk, you know, waiting for roast duck to fly in mouth while hoping that Rightmove might come up with a sale. He took the bull by the horns and he went out there and planned meetings with 10 of those clients.

Let me tell you that wasn't easy, because as he said to me, he only sees most of his clients at the point when he puts their houses on the market. After that he doesn't really go to see them again. A lot of the work's done on WhatsApp, text, email, phone. While those touchpoints are important factors and they help you to leverage your time, they don't build the relationship and the trust quite like face-to-face conversations. You need to be spending time with people showing them how they're going to get from A to B. That's what he did.

He spent the next few days going out there, preparing with purpose a plan that the seller could go with. Then, they could either stick to what was going on at the moment and spend the rest of their time getting the same results as they were getting, which meant that nothing significant was going to change. Or they could take action and go with his new plan which looked at exactly what they needed to do with their price strategy, marketing, and other areas they needed to focus on to achieve their outcome.

Step 3: Take action and meet with your clients

So all of a sudden my client is a busy estate agent with a full diary for that week. He's going out there on those appointments, spending time with those clients, taking action. 60% of those clients went with his advice. 50% of those clients ended up selling shortly after that, and actually within 10 or 11 days of our first phone call when he was desperate, he’d sold six new properties. That’s right, he went from no sales to selling six new properties with average fees of over £6,000. If you're no mathematician, let me tell you that's about £36,000 worth of business from just a few days of taking action.

Let’s look at what he did – because of his conversations with them, he had clients who knew what they needed to do, knew the market, understood the market, and understood the simple fact that they had two choices, stick or twist. They could stick and get the same results that you're going to get stuck with. Or they could twist and take action – that doesn’t mean they had to reduce the price but they did need to change the strategy to get to the outcome, and that's exactly what they did.

I spoke to him 10 days later, and this is why I absolutely love what I do as an estate agent coach, because not only did his week change, his mind, his mindset, his routines, his disciplines shifted. We then spoke about the other three things that I'm going to share as a little bit of an additional thing: win, learn, change.

Choose to win

Now this is crucial because it's in the pain when you get the lesson, and actually you win more than you lose in those moments. It’s when you’re in pain that you've got to choose your mindset. That’s when you go ‘Okay, it's shithow. Can I lift myself up from rock bottom? This has happened, I don't know what to do.’

When you’re in pain, you lose yourself because you start to focus on things you can't control. Then everything gets on top of you, and you feel overwhelmed. You feel anxious, and then you start thinking about more things from the past, more things that you can't control, and then you dive into the future.

But instead of that, my client chose to win. He stepped into the present moment. He looked at his clients who needed him and he agreed a plan based on prepared knowledge, experience from his years as an estate agent, ideas, and inspiration in the market, which he knew could guarantee them better results.

Choose to learn

Let me tell you now, in all my years as a real estate agent coach I've never seen such a transformation in nine days. You'll be reading this thinking, ‘Yeah, yeah. No, that's okay. That's fine.’ But you'll have clients that need you now in this market. They need you to go and see them, to go and help them feel prepared and help them have a plan that's not hope – it's a guarantee. Then they can take action and come with you on this journey to success, to their goals and their needs.

Here’s a simple question for you: are you going to act on what you’ve learned, or are you just going to read this post and move on? Are you going to take notes here and go, ‘Do you know what? I do need to get back and focus on the things that I can control, focus on who are the clients who need me today to arrange time with them? And then I'm going to do my research and go and help them to get to their goals.’ Or will you just send a message, drop a little text, a WhatsApp, a completely useless piece of communication that absolutely doesn't help anyone in this climate?

Choose to change

You've got a choice right now. You’re reading this and know what you need to do if you want to build your business on reputation and results. You know you can’t expect to do it over WhatsApp. You have to do it through conversations, and as an estate agent, it's in conversation where you convert, not hope

You've got to understand on the days that you feel like you're losing, you're winning more. You've got to understand what the lesson is. To ask, what is the learning here that I can take and move forward with? My client’s lesson and his learning was that he’d lost discipline in having great conversations with people.

Going to see people was what he would expect if he was the client, and he's changed the way he manages those clients going forward. So now we don't need to have that conversation again because it's now part of his routine and his rituals, and guess what he's smiling a lot more than he was.

So this man has gone from pain to profit just like you can if you take action.

There you go – there are my three steps for you to go from pain to profit, but it's a choice, right? You know that.

Now what I need you to do is to say to me that you really like this or you don't – give me some feedback in the comments. I'm here for you at the end of the day, so I want to make sure my content resonates and it gives you something to learn from. So please hit the like button, subscribe to my blog, and then check out my YouTube channel for some more great content. I look forward to sharing more with you next time. Thanks for reading.