For the first time in over a year, the Federal Reserve this week made an interesting decision by choosing not to raise interest rates. During his remarks, Chairman Jerome Powell provided some insight into the housing market, mentioning, "We now see housing putting in a bottom, and maybe moving up a bit."
Before we get too carried away with excitement, it's important to note that Powell also mentioned the possibility of interest rates staying put for a couple of years. This news might feel like a rollercoaster ride, but it serves as a reminder that regardless of the market's ups and downs, there are key habits we should focus on to drive success.
On a daily basis, I witness the success of our Alchemy members, like Megan Aitken, who serves as a great example. Megan and her team have been achieving remarkable sales numbers, and she remains dedicated and takes action every day to achieve her personal wealth-building goals.
Megan isn't alone in her accomplishments; many others are also having good, and in some cases, great years. So, what sets them apart? Here are some key difference-makers:
A Production-Focused Personal Routine and Environment
High achievers understand that success doesn't come from rolling out of bed and jumping right into action. You must prepare your body and mind for the challenges ahead. This means aligning your personal routine and environment with your goals. The extent to which your personal life is organized and geared towards your business objectives truly matters. I'm not suggesting that your personal life should solely revolve around business, but it should certainly support your business endeavors in a market like this. Focus on aspects such as sleep, exercise, support from family, and adapting your schedule to the summer months.
Winter is always coming
Productive and successful agents maintain a healthy dose of paranoia, always anticipating potential downturns. This awareness is often rooted in past experiences during market shifts. Use it to your advantage by continuously asking yourself and your team, "How can we improve?" Remember, the real estate market is ever-changing, and the strength of your business is directly tied to last month's sales. Yes, it can be relentless and exhausting at times. But as my Grandma used to say in challenging moments, "suck it up buttercup!"
A focus on financials
Successful individuals dedicate 15-30 minutes each week to reviewing their financials. They promptly respond to their financial teams' emails, ask questions, and actively seek opportunities to learn more through videos and articles.
There is simply no way around it, you must visit your money often. If you don’t, your money will eventually visit you, and trust me, you won’t be happy with that conversation.
Take a moment to mentally rank yourself on each of these three points, using a scale from 1 to 10. What steps can you take today to improve? Remember, this is a marathon, and the goal is not just a great year, but a great career. Focus on building foundational habits that will ensure your success, regardless of Jerome Powell and the Federal Reserve's decisions.