Have you ever heard the term FOMO? Simply put, it’s millenial-speak for fear of missing out. In a highly-publicized, socially-shared society, that anxiety makes some sense. After all, it seems like there are always better things happening somewhere else. FOMO doesn’t just apply to millenials as they scroll through Instagram, though – it also applies to mergers and acquisitions.
It’s easy to browse through sites and listings and see all of the potential deals you missed. And reading about these deals may cause some unease. Competition seems to be at an all-time high, and you may wonder if you’re missing out on some all-encompassing strategy or system. It’s quite common to experience these doubts, but we don’t want you to stay trapped in them. There’s a way to conquer that FOMO, maintain your focus, and continue growing your success as a broker.
Over-Analyzing vs. Adjusting. The strategy may surprise you, too. Instead of trying to notice and capture every deal on the market, it’s better to create a thorough process and stick to it. Attention to detail and a responsive attitude are far more likely to yield the results you expect. Competition is high, but panicking does nothing for you or your team. Instead, maintain a process that proves you’re worth sharing a deal with, and adjust it only if necessary. Ultimately, you’re dealing with humans, so building relationships with timeliness and professionalism will always prove helpful.
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