Mind over market: Maintain momentum with a growth mindset

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Have you ever considered why some real estate agents seem to thrive in even the most challenging markets while others struggle to make progress? The answer often lies in the mindset of the respective agents.

Are you ready to understand how embodying and taking action with a growth mindset can unlock success in your professional and personal life?

Your mindset can be a game-changer or a deal-breaker. Ask any highly successful and happy entrepreneur, professional athlete or iconic brand with relevance and longevity what helps them to continuously move forward, and you’ll find a growth mindset. 

According to psychologist Carol Dweck, individuals with a growth mindset believe their intelligence, talents and abilities continue to develop and grow over time. Innovative leadership, willingness to adapt, expanding and developing one’s abilities, remaining open to new opportunities, improving one’s efforts and, ultimately, thriving in a rapidly changing environment are all marks of a growth mindset.

Opportunities and obstacles, ever-unfolding change are inevitable aspects of life and business. A growth mindset is advantageous to anyone interested in developing greater self-mastery and adeptness at navigating what many people experience as the volatility of entrepreneurship. 

Huge market shifts, vacillating interest rates, skittish and unrealistic clients, as well as the “great unknown” related to the overall economy, are some of the main concerns often stressing agents. And yet some agents are growing their businesses in exponential ways.

In short, if the last year has taught us anything, real estate professionals may be in the greatest need and poised for some of the greatest benefits of utilizing a growth mindset. In fact, our recent history supports this. 

In 2008, we witnessed the housing bubble, causing many individuals to face the distressing loss of their homes and livelihoods due to a surge in short sales and foreclosures.

Amidst this period of uncertainty, we also observed the emergence of exceptional real estate agents who rose to the challenge. These star agents exhibited remarkable readiness and eagerness to learn, adapt and flourish, offering invaluable assistance to their clients during those difficult times and simultaneously establishing profitable businesses for themselves.

How can you cultivate and use a growth mindset to evolve, adapt and thrive?

Create a new relationship with ‘failure’

“Failure” is a concept that requires you to develop a new perception. 

“Failure” is not an end but the continuation of your path to success. 

Read that again.

Are you willing to embrace the idea that your current challenge is a pathway to allow you to make better decisions and navigate future situations with greater adeptness and confidence? Your challenges provide you with the insight, knowledge, and required skills to gain the wisdom you need to move into the next version of yourself and the next level of your business.

If you embrace this renewed approach, you can clearly see that “failure,” disappointment, and obstacles actually bring bountiful opportunities for growth and increased business success.

The next time you feel frustrated, disappointed or stuck, ask yourself this question:

How does this obstacle, disappointment or “failure” offer me the opportunity to grow, develop my abilities, and refine my skillset?

For example, perhaps this challenge or perceived “failure” allows you to refine your communication skills with clients. Perhaps this obstacle is actually the perfect time to shore up your boundaries. Perhaps this disappointment is the result of processes and systems that can be clarified or optimized.

Flexibility and adaptability are your allies 

The nature of real estate is often marked by wide fluctuations in patterns and trends. As we mentioned, this is the basic nature of life itself, and we do ourselves (and our bottom line) a favor when we learn how to ride the waves with grace and poise.

There will always be times when the market is on an upswing and times when the market experiences a slowdown. To achieve consistent success, we must learn to become the master surfer, staying present and focused even when it gets choppy.

A growth mindset shows us how to harness the force of what we may deem unwelcome changes to learn how to navigate life and business in newly beneficial ways. The truth is that the market in 2021 and 2022 didn’t require us to keep our skills sharp or work in innovative ways.

While many are bemoaning the 2023 market, others are seeing this as an opportunity to take market share and continue to gain momentum. They’re doing this by not remaining rigid or attached to things that “have always worked” or “should work.” They understand that this market isn’t as much of an anomaly as it is, just a different market.

This approach allows them to be flexible and adaptable, becoming more and more innovative and resilient to what this market requires for their success as well as the success of their clients.

The next time you feel disillusioned, disheartened, defeated, or you feel like you’re facing a dead end, ask yourself this question:

How does this obstacle, disappointment, or “failure” offer me the opportunity to seek out new resources and guidance or create new solutions?

For example, perhaps this challenge or perceived “failure” demands you prioritize your own creativity, innovative thinking and try new things. Don’t get stuck with the dominant framework in your field. Talk to industry leaders outside the realm of real estate.

Schedule time and space to be the CEO of your own business. This is a time that isn’t task-oriented. It’s time for you to mastermind and tap into your ingenuity.

This isn’t a one-size-fits-all business, nor is strategizing a cookie-cutter approach. If you understand the power that adaptability and flexibility offer as your allies, you can then remain open to other opportunities and solutions which will not only make your business market-proof but a premier example of mindful entrepreneurship.