Mindset – beware what you let into your head
I’d like to share a tip I’ve been handing out to my coaching clients recently about their (and other agents’) mindset.
Actually, I’ve noticed I’ve been handing it out more frequently than I usually do. Which means that you might need a dose of it too.
It’s about mindset – what you let into your head. About how fast you get back in the saddle if you hit a bump and get slightly knocked around.
“The market is a-changing” mindset
Yes. The market is changing.
Some are saying we’re officially entering a Buyers’ Market.
This means more listings. And longer days-on-market.
While we’re in this transition phase it means that you’ll come across vendors who’re still in yesterday’s market. Which means you’ll need to spend time educating them that they (probably) won’t get the price for their property they’re hoping for.
A whole new and different world mindset
For some agents this is a whole new world.
It’s different. And it’s a mindset they haven’t needed to employ before.
Only a few of my clients have worked in buyers’ markets before.
But for the majority of agents who don’t know any different, for some, it’s scary.
Change. It can be scary or exciting. Just different sides of the same (mindset) coin.
Having the reframe mindset ability
Reframing is an NLP (neuro linguistic programming) technique whereby you look at something differently. Usually it refers to taking something negative and looking for the positive.
Very simplistically, it’s about looking for the rainbow and seeing something magical rather than focussing on the rain and getting depressed.
Celebrating what you’ve had, rather than what you’ve lost or no longer have.
If you’ve only known real estate in a sellers’ market then it’s time to get excited about a whole different set of skills you’re going to be able to master.
For example, longer time-on-market means you’ll have more time to develop more meaningful relationships with your clients. Instead of listing and selling a property before it even gets to Trade Me, you’ll have weeks (maybe even months) to truly get to know your vendors. This means you’re going to be required to take customer service to a whole new level of satisfaction and wow!
How exciting is that?
I’d rather be scared than dead”
That’s a mantra I’ve used for centuries (okay, a very long time!). Whenever I feel like I’m a little bit (or a lot!) out of control, I tell myself it’s better to be scared than dead.
I’m sure you’ve heard of the Pareto Principle, even if you don’t know it by name.
It’s the 80/20 rule.
In a business, for example, approximately 80% of sales will be won by 20% of its sales force. Or that 80% of your complaints will come from 20% of your clients.
In any real estate market there will always be 20% of salespeople getting 80% of the listings.
Which side of the Pareto Principle ledger do you want to be on?
Look around your office. If you office has 20 salespeople, there will likely be 4 salespeople (+/-) who are always fighting over the top 3 spots (give or take).
The top salespeople are always top performers. In any market.
Why? Because they’re wired for success!
Which means that you too, can be wired for success.
Avoid the Knockers: those who have the jealous and/or envious mindset
Sadly, fear brings out some very unpleasant and undesirable personality traits. One such trait is jealousy and/or envy.
By the way: F.E.A.R:
False Expectation Appearing Real
If you’ve got people in your office who’re scared of the changing market conditions then be wary around them. Because they’ll try to normalise their fear by engendering that emotion in others. (If everyone feels that way then “it” has to be real, right? Wrong!)
Aristotle argued that for each positive quality humans have, we can find two negative vices on each extreme of the virtue. For example, courage is the human excellence (or virtue) in facing fear and risk. While having too much courage can make people brash, its polar opposite results in cowardice.
Horace – a Greek poet back in 27BC – said “to flee vice is the beginning of virtue, and to have got rid of folly is the beginning of wisdom”
Psychologists define wisdom as “… an expertise in dealing with difficult questions of life and adaptation to the complex requirements” and as “… the ability to deal with the contradictions of a specific situation and to assess the consequences of an action for themselves and for others. It is achieved when in a concrete situation, a balance between intrapersonal, inter- personal and institutional interests can be prepared”
Being wise amidst changing circumstances (like a changing real estate market) takes practice.
Wise people overcome feelings of helplessness, powerlessness, anger or aggression by non-understanding of external elements and internal acknowledgement.
In other words, wise people take personal responsibility and adapt to change in a holistic and positive way. Non-wise people make excuses (“it’s the market”) and deny they have the power to create a different outcome (“I’m too old to change”)
Of course, the opposite of wise is stupid. I believe Albert Einstein’s definition of insanity is a much better definition of stupid: doing the same thing over and over and expecting a different result.
Watch out for agents with stupid mindsets
WARNING: there are more of them than you realise!
There will be agents in your office who won’t adapt to the changing market conditions but yet will expect the results they had from before. This obviously won’t work. (“what got you here won’t get you there”)
Some will continue to flog dead horses while others will lash out (perhaps in fear).
Many will try to drag you down with them (in order to ‘normalise’ their own experience).
Their envy and/or jealousy of your success could play out by them constantly trying to distract you.
Or undermine you.
Maybe they’ll keep harping on about how hard it is to get new listings… Or to sell… Even to educate vendors…? Or to look after buyers…?
Beware of what you let inside your head
It takes a lot of energy to ignore the whining negative, whingeing and moaning that’s going on around you while holding on strong to your positivity and beliefs that you’re good enough.
If you find yourself starting to be surrounded by people who are negative in any shape or form get the heck away from their space real fast!
If necessary work from home.
I realise it’s not as ‘sociable’ to work from home but it’s far more important to the success of your business to ensure you’re guarding what you let into your head.
Beware also to the radio stations (or podcasts) you listen to.
For example, talk-back radio: there’s a lot of negative whingeing and moaning that goes on, on talk-back radio. It’s not a station I recommend anyone listens to if they’re trying to maintain a positive mindset.
Symptoms to look out for
If you find yourself saying (or thinking) any of the following, it’s time to recalibrate your self-talk:
- It’s hard out there right now.
- No one’s buying.
- Vendors are dreaming.
- Being in real estate isn’t easy any more.
- No one’s listing.
- The LVR killed the real estate business.
- Investors aren’t buying any more.
- It’s impossible for first home buyers today.
- Other agents are buying listings.
- There aren’t as many opportunities as there was.
If you hear yourself (or anyone else) talking like that, you need to put a stop to that dialogue right now.
If you’re hearing those kinds of conversations in your office make sure you stay out of them. You need to avoid buying into negativity.
Work from home – that’s what I’m telling my clients.
If that’s not possible (for whatever reason) then work at the office wearing earbuds. Being “wired up” achieves several outcomes:
- Helps maintain your optimism by listening to uplifting music (or podcasts);
- Muffles outside negativity;
- Discourages interruptions (provided people can see you’re wired, they’re less likely to interrupt)
Surround yourself with positive images, sayings and quotes. There’s research that supports motivational quotes, sayings, phrases and images as making a positive difference.
Illegitimi non carborundum
Nil illegitimi carborundum.
Non illegitimis carborundum.
Illegitimi nil carborundum.
Non illegitimi carborundum.
This is tongue-in-cheek (mock) Latin for don’t let the bastards grind you down.
Being self-employed is one of the hardest ways to earn a living. Selling real estate isn’t for the faint-hearted. Ergo, it’s really important you look after your own health (mental, emotional, physical and spiritual).
Getting back on the horse ASAP after you’ve been thrown, is critical. The longer you’re down, the harder it is to get back up again.
Coaching during the character-building times
A good marketing and mindset coach is worth his/her weight in gold during character-building times.
Because, like I said in the previous segment, we help you recover from the slings and arrows of outrageous fortune faster.
A few months back one of my clients told me that he now recovers in minutes (at the very worst, hours) after being knocked around a bit. Whereas before he had me on his team, it would take days or even weeks. Reducing the “missed or lost opportunities” time to almost nothing is priceless!
My clients know they can call me at (pretty much) any time of the day or night to give them the leg-up they need at that time.
If this sounds like it might be helpful for you then let’s have a chat. It won’t hurt and it could get you your next listing faster if you find yourself starting to stumble!
Successful People have Coaches
It’s easy for life to get in the way. It happens to everyone and when it does, it can derail those who don’t know how to get back in the saddle again.
Having a coach means you’ll be able to bounce back faster.
It means you’ll also achieve more, which in turn means you’ll achieve the objectives you set out for yourself and the dreams you have for your and your family’s life.
Reach out now: send me an email – I promise to respond to your email personally – tell me about just one thing you’d like to achieve and/or your biggest headache / frustration in relation to the negativity in your office and let’s see how if I can help you make it better.
I promise to respond to you personally. I can’t wait to hear from you!