Bouncing Back
I think most of us have been here at one point or another but I want to ask. 

As a broker, what have you done to bounce back. you just had a few too many deals fall apart, its going to change your year and you are exhausted from it.

The result we want is to get back to work, focus in and get new deals in play.

&amp;#x200B;

But what have you done in your time to bounce back and what advice would you give a young broker who is burning out.
[{"id": "f23z30f", "text": "Not a broker but a commercial lender. It happens. I just had a shit 3rd quarter after going nuts the last 3 prior. It sucks to work hard and lose deals and still not see any fruits of your labor, but you can always bounce back. If everyone else can do it, why can\u2019t you?", "replies": [{"id": "f2407rj", "text": "Ugh, I was a lender too in a prior career. The amount of deals that hit all the underwriting requirements, yet credit still turned down, really soured any enjoyment from that job. Good luck with Q4", "replies": [{"id": "f24b5g9", "text": "Thanks. I was an underwriter for years so I don\u2019t get turn downs fortunately. But I have had many friends look at other careers for that exact reason. It\u2019s a long sales cycle. Q4 is looking up, I have a nice $4 million pipeline built up already. Good luck to you as well", "replies": [{"id": "f24ef4g", "text": "What types of deals do you do?", "replies": [{"id": "f25pp7d", "text": "The whole gamut for commercial. Owner occupied real estate and investment real estate financing, lines of credit, equipment financing. Also need to source deposits, cash management, and merchant processing deals as well.", "replies": [], "depth": 5}], "depth": 4}, {"id": "f24f02m", "text": "Yeah, totally get it. I was a credit analyst, portfolio manager, department manager, and investor relations in my banking career. I made damn sure the deals I submitted to my credit team when I took an RM role were buttoned up tight. Strong DSCR or NOI, low leverage, breadth and depth of experience for my developer clients, more than policy cash reserves, market data from costar or other third parties to support market demand, detailed backgrounds for GC, architect firms and more. Basically, deals that any other bank would do in a heartbeat. But the bank would decline, or try and price the deals so high that I couldn\u2019t compete. I don\u2019t know why our credit admin/underwriting was involved with pricing, but they were. Lost probably a good $15M in my last year there because of this. And one deal in particular also came with nearly $1.5M in deposits. \n\nThey ran through RMs like water. I lasted 18 months and the entire team turned over in that tike period. Analyst, PMs, RMs, local IT, retail managers, it was a shit show. \n\nAnd from an educational perspective I have an undergrad in finance and my MBA. I feel like I have a decent understanding of credit and balance sheet risk for the bank.\n\nUgh, I am ranting now, but damn that bank to hell! Haha. It actually got me totally out of banking. I now work for a huge CRE development firm and am much happier.", "replies": [{"id": "f25pzhb", "text": "Wow that\u2019s brutal. Some banks really well leave you salty. I\u2019m actually in the middle of a potential transition for similar reasons. This bank is tough to get deals done as it\u2019s conservative by nature.. they get done but it\u2019s like fighting for your life with credit. It takes a lot out of you, and then the terms aren\u2019t even competitive and you did all that for your client to go to some other bank with the offer and get better terms. \n\nThat\u2019s finance for you eh?", "replies": [{"id": "f25rjl4", "text": "That\u2019s finance in general for sure. We work with large bind underwriters for our projects, and the same shit happens. Some connection somewhere does something for a slightly better price, or some other term, and bam, a years worth of effort on their part down the drain.", "replies": [], "depth": 6}], "depth": 5}], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "f242sxz", "text": "Are you working with a senior broker? Depending on what property type, deals can take a long time, 5 years or more for the most lucrative ones. \n\nAnd as long as you have the relationship, the deal is not dead, just on hold, or incubating. If you did not have the relationship, it was never your deal and you were just getting jerked around. \n\nIn slow periods, reflect on where you are, what you have done to get here, and where you want to be. Usually that involves meeting with other people and connecting and growing your network. \n\nIf you are a grinder, pull out the cold call sheet, hit up your 6 month contacts, walk your market, see what is going on and where and why. \n\nIf you are a schmoozer, connect with your network, share war stories, hit up senior brokers and see if they have anything they need help with. \n\nMourn the dead deals but move on. The next big one is around the corner, and sometimes the dead will come back when you least expect it.", "replies": [{"id": "f26fyyf", "text": "I do work with a large brokerage but in a small market where I am one of the more active brokers. Thanks for the advice, just need to recharge and get back at it I guess.", "replies": [{"id": "f2f14da", "text": "Can you expand your market?", "replies": [{"id": "f2qikqm", "text": "In short, no.\n\nIt's a small market and expanding means going to outlying communities and given thier size and actual geographical distance it more often than not means doing a 1000 sf 2 year deal at &gt;10$ net rents and a 2 hour drive both ways to get there\n\nEffectively expanding isnt worth the gas 8 times out for 10.", "replies": [], "depth": 4}], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "f2465bt", "text": "In a similar spot myself at just over three years in.\n\nI've found to start climbing out of a slump you need to focus in on the daily actions that make you feel you have a sense of control.\n\nFor me this has been purging my database and bulstering my funnel with another 250 qualified targets and hammering out the calls / touches.\n\nReconnecting with the channel partners you actually like to share the pain and recognize it's the same for attorneys, lenders, title, etc.\n\nIf your glass is not half full, life will suck - be brutally objective with your performance until now, then focus on what you can immediately control.", "replies": [{"id": "f26fv6s", "text": "Good advice! Thanks.", "replies": [], "depth": 2}], "depth": 1}, {"id": "f24dt4l", "text": "As an investor, our hit rate on LOIs is about 10% (meaning we offer on 10% of what we underwrite), our close rate is about 1%. I will underwrite 300 deals for every three I close. As a broker, I think its important to understand this and be mentally prepared for it. The best advice I ever got (early in my career) when I got frustrated:\n\nIt's not closed until it's closed.\n\nIt's not dead until somebody else buys it.\n\nMy husband now does the same line of work, and in order to avoid mass kvetching sessions every evening, we follow the Schottenheimer 24 hour rule. You get to mourn the loss for one day, then you have to pick up and move forward. It keeps us from wallowing, which keeps us productive. You lose more than you win in this game.", "replies": [{"id": "f25zil9", "text": "It\u2019s not dead until somebody else buys it. My boss has been pounding that into my head since I started (18 months ago). Its been a frustrating 18 months as a full tilt acquisitions analyst (underwriting and transaction management), especially because we are relatively conservative, given the state of the market. Its refreshing to hear you say echo that sentiment.", "replies": [{"id": "f26nbki", "text": "Id say fully 20% of the deals I've done were bounce back. Sometimes it's better NOT to be the person who wins best and final", "replies": [], "depth": 3}], "depth": 2}, {"id": "f26fwhw", "text": "That's really interesting,  I never thought to give myself a deadline on moving forward.", "replies": [], "depth": 2}], "depth": 1}, {"id": "f25a77b", "text": "It's tough. Especially having multiple deals fall apart in a short period of time and there's no way it's not going to suck.\n\nBut, after you've made sure there is no way to salvage those dead deals, you have to realize spending any time morning over them isn't going to help get that next deal done any sooner.\n\nTake a little time to review to see if there is something in your approach or business plan that you need to change. If not, then just throw yourself back into the work. Get multiple deals going at once since some will always not get to the finish line despite your best efforts. Come in early. Stay late. Paying your dues isn't fun, but it's part of the business.\n\nGood luck!", "replies": [{"id": "f26g0sf", "text": "Thanks!", "replies": [], "depth": 2}], "depth": 1}, {"id": "f25banl", "text": "You have the development side and the execution side. You get stuck focusing on executing and your development dies. Change that. Be great at both. \n\nYou have to make it a daily grind to keep that pipeline robust. Qualifying your deals as best as possible so you\u2019re not just spinning tires definitely helps. But fill the pipeline. \n\nSet a structure for yourself and force yourself to stick to it. Make it something doable. 20 calls before 10 am? Start dialing. Send out those emails to people who you haven\u2019t talked to in a while. Be proactive.", "replies": [], "depth": 1}, {"id": "f25fuki", "text": " Broker here. I had a baby and lost some of my client base while on maternity leave. I had a tough first year back because I was exhausted from the grind of trying to rebuild my business while balancing work life with a newborn. \n\nOn top of this, a handful of my deals imploded and I lost a $12M, life changing, assignment. I was disconnected , discouraged, and always 2 steps behind. \n\nWhat helped me the most was taking intentional time off to mentally recharge. Spent some time outdoors, worked out, slept in, read a book, and spent time with friends/family. It gave me a reset and I quickly forgot about my failures to focus on my future business.", "replies": [{"id": "f26g289", "text": "Thanks, I'm actually shooting for a week off very shortly to do just this. Hoping for similar results. Good luck and and congrats on the baby!", "replies": [], "depth": 2}], "depth": 1}, {"id": "f25gs6x", "text": "Cocaine &amp; Hookers &amp; Jamieson and not necessarily in that order. All kidding aside, it's the Brokers who get knocked down, but keep getting up to fight again that make the real money in this this Biz\n\nLet me tell you something you already know. The world ain\u2019t all sunshine and rainbows. It is a very mean and nasty place and it will beat you to your knees and keep you there permanently if you let it. You, me, or nobody is gonna hit as hard as life. But it ain\u2019t how hard you hit; it\u2019s about how hard you can get hit, and keep moving forward. How much you can take, and keep moving forward. That\u2019s how winning is done. Now, if you know what you\u2019re worth, then go out and get what you\u2019re worth. But you gotta be willing to take the hit, and not pointing fingers saying you ain\u2019t where you are because of him, or her, or anybody. Cowards do that and that ain\u2019t you. You\u2019re better than that.\n\nhttps://motivationgrid.com/top-20-inspirational-rocky-quotes/", "replies": [{"id": "f25p77p", "text": "But what happened in 1981?", "replies": [{"id": "f25rcjb", "text": "was born in 1981 and Drunk &amp; High when I chose my username, possibly watching Ray Donovan as well!?!", "replies": [], "depth": 3}], "depth": 2}], "depth": 1}, {"id": "f25pkqk", "text": "Real Estate is a long game. The key to sales is constant contact over time. Even if you don't directly see the results, rest assured that you're making progress. Keep your head down and keep grinding!", "replies": [], "depth": 1}, {"id": "f2u8aoo", "text": "&gt;what advice would you give a young broker who is burning out.\n\nI think someone else asked it: are you working with a senior broker? \n\nIf you are working with a senior broker:\nAre they aware of it? \nIf they are aware of it, what advice have they given you? What was your measure of and how did you respond to that advice? \nIs your senior broker a good fit for you? \n\nIf you aren't working with a senior broker:\nWhat have you done in the past that worked for you and what can you do now that worked in the past? \nAre you taking care of yourself? I don't mean some kind of new age BS either, just wondering if you're getting enough sleep, etc. \n\nSometimes the easiest answer is the correct one. What simple things are you not doing that will help you? \n\n&gt;But what have you done in your time to bounce back\n\nI've had luck sometimes taking a day off. Put on the out of office, and take time for yourself. I don't mean taking a day for errands, but literally just calming your mind. \n\nAnother thing that works for me is doing market drives. I get out and look at properties in my inventory and just use that time to think. \n\nGood luck.", "replies": [], "depth": 1}]