E 88: Rod Santomassimo- What Hard Feels Like

On this episode of the Massimo Show

Rod talks about what hard feels like, especially when it comes to commercial real estate brokerage and how to handle it in the current markets.

Rod thought it'd be important to address something that's going on right now, the market is shifting and we're seeing less velocity, more challenges than we have before, inflation, increasing interest rates and even bank solvency. It's a fact that you have to work 10 times as hard to produce maybe half the results. Every transaction becomes a fight as the speed of transactions declines, even though you're putting in more time, energy, and even strategic thought. Those benefits may seem like they're dwindling. This is the harsh reality of the current market that we're all working in in trying times.

 

However, don't forget, this also represents a chance for business development, personal development, resilience, and yes, invention. It's the examination of your fortitude, adaptability, and perseverance. It could feel like you're running in place while exerting more effort than ever, but keep in mind, this does not indicate that you've failed. Even the most seasoned brokers must overcome this issue because it's a reflection of the market. It's not a reflection of you.

 

How you react to this market is within your control. Let these trying times spur your development, creativity and innovation. Be proactive in looking for new opportunities and innovative ways to answer the problems that you and your clients are encountering. Encourage yourself to learn more about the market, hone in on a specific subject matter and grow your expertise, or forge closer bonds with some of those prospects and clients you've worked with. Put extra emphasis and attention on developing relationships with your clients and giving them outstanding service. 

 

Yes, this is what hard feels like, however, it's also what growth feels like. It's how resilience feels. It's how creativity feels. So accept the challenge, adjust and invent, and keep in mind that this tide is going to eventually shift, and when it does, you'll be better equipped to take advantage of the opportunities because you'll be stronger and wiser. Always remember that in commercial real estate, the market's difficulties are not an accurate representation of your skills. Use this time as a chance to show your resilience, adaptability, and steadfast dedication to your clients, to your craft, and to yourself. So keep moving forward with new ideas and demonstrating that you can succeed in even the most difficult markets.