Kevin McCarthy Presents…

Did you know that the majority (around 80%) of people that become real estate agents will be out of the industry within three years. Even more shocking: fifty percent of new agents will be out of the real estate business within the first year. Why are these statistics so shocking? What causes someone to get into one of the greatest professions in North America and maybe the world only to drop out within one to three years?

As I reflected on the concept of having a fixed mindset in real estate sales, I began to see how it affects agents and their professional growth.

One of the tendencies of a fixed mindset is to not expend too much effort. After all, since we are given a certain “fixed” amount of ability, we should be able to perform within that ability without much effort. If we have to put out too much effort, we must not have the ability. Therefore, since effort means we don’t have the natural or innate ability, our identity is threatened. It is like looking into a mirror and seeing your shortcomings.

Consider a teenager in a math class. A teen with a fixed mindset that has a natural aptitude for mathematical problems feels that math should always “come naturally”. If the math problems start getting too hard and, therefore, require too much effort, then the person’s resolve is “math is just not my subject”. Rather than work harder to figure out the solution, the safer path is too quit. This keeps the ego in place.

Now, back to real estate. To be a successful real estate agent, one must learn many new skills and be diligent to use these skills on a consistent basis. It is the process of real estate. I propose that when a person gets into real estate with a fixed mindset, and the process of real estate gets too hard, it is easier to drop out of the business saying “real estate is just not for me” rather than pressing in and working through the tough challenges.

Someone entering real estate with a growth mindset, on the other hand, sees the challenges and embraces them as an opportunity to grow; to become more professional, more successful. Even when the challenges are overwhelming – and they sometimes are – the growth mindset agent tackles it from different angles or reaches out for help. A growth mindset is not threatened by a greater need for effort. Effort is not an indicator of an inadequate amount of a fixed ability. Effort is seen as a necessity to produce the desired results.

So, if you or someone you know is endeavoring to succeed in a real estate career, stay tuned to these blogs to learn how to move from a fixed to a growth mindset in the real estate business.

To book Kevin for your next event, contact him directly at 541-250.0540.

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