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Market Mindset: How to Win in Any Real Estate Market

mindset q1 2024 quarterly returns Mar 31, 2024

Wow. It's April already...

One quarter in the books and what a quarter it was!

Did you know the S&P 500 was up 10.2% since the start of the year and set a new record high 22 times in the first quarter? 🀯

That's powerful and has big implications for the housing market.

I'll be going over this in more detail in my upcoming MarketPulse 360. Be sure to book a presentation at your office before the slots are gone. πŸ‘

Ask yourself: did you think the market could/would outperform like that?

This applies to real estate as well. 

The full stats aren't in just yet, but home prices have continued to rise and those who previously bought are watching their net worth grow. πŸ“ˆ

If you didn't think that values could rise further, you probably didn't invest.

On the other hand, if you believed the market would keep rising, I'd bet you saw opportunities others missed and are better off for it. 😎

 

How to Increase Your Success

After reading that graphic, do you agree? πŸ€”

It's easy to organize people into two personality types: optimists or pessimists. 

Each type likely finds it hard to believe that the other could think the way they do. And neither is perfect. 🀷‍♂️

Optimists might be blind to risks and overestimate the chances things will work out.

On the other hand, pessimists might invent risks and expect poor results too often.

Either way, I can relate to both sides as I've been both over the years.

While there are positive and negative people, i'd argue these aren't personality types, but rather mindsets. 🧠

In other words, it's way of thinking you're choosing (consciously or unconsciously).

I say that because you have the power to choose what you believe.

It's rather easy to look at the economy, housing market, your job, life circumstances, etc. and think about all the problems. 😱

There certainly are a lot of them.

We can thank our human nature for this. Our minds are programmed to survive and avoid danger.

On top of that, those who call for a crash look smart - like they know something the rest of us don't.

Pessimism is seductive in many ways.

The problem is pessimism usually isn't profitable. Or pleasant to be around. πŸ₯΅

If you call for a crash long enough, you'll eventually get one.

But how many years of growth will they lose on the way? And is the "crash" just a small blip on the radar of the big picture?

Take a look at this (S&P 500) chart and you'll see what I mean:

 

Finding Opportunity

Henry Ford has a famous quote that relates: "Whether you think you can or think you can't, you're probably right." πŸ’‘

Look around at the successful people.

Chances are, they operate with realistic optimism.

They're aware of risks and do what they can to reduce the chance of catastrophic failure.

Then, they TAKE ACTION. πŸ’ͺ

We have to believe that things will work out to buy a house, invest in a stock, shoot, even marry another person.

You create your reality by believing it can work out and taking action towards your goals.

If you had a great first quarter, keep it up. Things are just getting started..

If your business or personal life weren't what you'd like, now's the time to make the rest of the year the best possible.

Revisit your goals (or set some for the rest of the year) and spend some quiet time thinking about what life will be like when you accomplish them.

Then get to work making it a reality. πŸ‘Š

Here's to a clean slate and brand new quarter of opportunity! πŸš€

Dr. Alex Stewart
Founder

 


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Here's 3 ways to dive deeper:

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  2. πŸ‘©‍πŸ’» Digital Course: How to Use Market Stats in Your Business: Accelerate your business growth by learning how to use data. This course will help you more easily understand the market, improve your client presentations, and increase your conversion rate with clients. No finance degree required as I lay everything out in very simple terms.

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  3. πŸ“Š Schedule a live presentation: Want to learn in person? I offer the MarketPulse 360 presentation that connects all the dots (national to local) so you get a comprehensive breakdown of today's market. It's 2 hours of beautiful charts designed to give you all the major trends you need to know about and address the most common questions in the market. You'll walk out feeling more confident, with resources to use in your business, and a level above the rest of the Realtors who are wandering around blindly.

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