How real estate professionals can manage stress
Radford University Associate Professor of Marketing Jane Machin, Ph.D., is lead author of “Coping with Stress in Real Estate,” an article published in the June 2019 edition of the Keller Center Research Report.
In the article, Machin and her co-authors state that “stress is especially problematic among real estate professionals,” and that it manifests into “the second highest rates of anxiety and depression among all occupations.”
Industry stressors for professionals can include the real estate cycle, market regulations, infrastructure changes and industry reputation, according to the research. Real estate professionals also deal with “transaction stressors,” Machin and the group wrote, which include project management tensions, client woes, showing properties and negotiating and closing the deal.
The group suggests three broad categories of coping with real estate work-related stress: improving self-efficacy, strengthening self-esteem and boosting self-compassion.
“By mindfully attending to ways to build self-efficacy, self-esteem and self-compassion, real estate players can improve their sense of well-being,” Machin and the research group wrote.
The prestigious Keller Center for Research Report is published by Baylor University. Machin’s article is available on the center’s website.
In addition to Machin and serving as co-researchers and co-authors on the article were Ann Mirabito, Ph.D., an associate professor of marketing at Baylor University; Natalie Ross Adkins, Ph.D., associate professor at Drake University; Elizabeth Crosby, Ph.D., associate professor at the University of Wisconsin – La Crosse; and Justine Rapp Farrell, Ph.D., associate professor at the University of San Diego.
The research article stemmed from a paper Machin co-authored about mental health and the marketplace. The paper, “The Marketplace, Mental Well-being, and Me: Exploring Self-efficacy, Self-esteem, and Self-compassion in Consumer Coping,” will be published in July 2019 edition of the Journal of Business Research. “Coping with Stress in Real Estate” is an extension of that article.
At Radford University, Machin teaches innovation and creativity, while focusing her research on the intersection of problem reframing, creativity and consumer well-being.
“Dr. Machin is one of the most productive scholars in the Davis College of Business and Economics. Her work spans several areas, such as consumer behavior, design thinking and creativity, as well as pedagogy in marketing education,” said Davis College Dean Joy Bhadury, Ph.D. “It is a pleasure and an honor for her work to be featured by a top-tier institution such as Baylor University, and it is a clear testimony to the high quality of her work. Teacher-scholars such as Dr. Machin epitomize the ideals of faculty at our institution.”
Machin’s work exemplifies Radford University’s commitment to participation in research, scholarship and leadership activities within and beyond the classroom.