On this 243rd Episode of my Monday Morning Pep Talk, I will take you through the steps of preparing your mind to handle all of the changes that will occur within our industry on August 17th and how we should "manage" change of any kind.
Before I jump into today's call, I want to remind you of my professional purpose and that is to help you, the broker/advisor, optimize your productivity and help you become the best version of yourself. Why? "Because Happy Brokers Sell More Real Estate". I do that by teaching you how to handle the challenges and opportunities that you face every day. If you can effectively manage those certain situations that arise on a daily basis in your business, you’ll be more productive and live a life that is the best version of you. My ask is that you listen as if you are in a one-on-one coaching session with me in my office or on a phone call. If you'd like a transcript and full recording of today's MMPT, send me an email at [email protected] and I will add you to my private email list.
First, let me remind you, your brain does not like any kind of change. If you are having negative thoughts about the changes within our industry, that's just your brain doing its job. It's trying to keep you safe. Normally, we have choices and can revert back to what is "safe" : the status quo. That's why most people never make drastic improvements in their life and business, because the safe, cozy bed in the morning wins. In the case of the NAR Settlement, we have no choice. The changes are not optional. If you want to get paid for your efforts in this business, you need to comply or be filtered out of the industry. You need to have the right mindset, right now.
My second reminder is this: change creates opportunity. A person with a dialed in, highly productive mindset looks at these changes as a significant opportunity to take market share… the "right" market share. Albert Einstein stated, “In the middle of difficulty comes opportunity.” You should not be scared; you should be chomping at the bit looking at August 17th as "go time.” It’s normal to have some fear, but you need to replace that fear with “How do I navigate this situation and use it to improve my situation?”
Third, "You Were Built for This.” That was the title of my MMPT on March 23, 2020, the first Monday after we were all quarantined because of the Covid 19 crisis when we were all confronting huge uncertainty. Those running real estate brokerages were expecting a massive destruction to the business. Here are some of my words from that call:
I just finished the book It Takes What It Takes by Trevor Moawad. Trevor is hired by elite level athletes to gameplan their mindsets. One story he relays in the book is about when he wanted to test the strength of his own mindset. He had always respected how the Navy SEALs maintain such composure under the worst of conditions, so he called on a Navy SEAL to test him. The SEAL told him to watch 3 hours of cable news and listen to 2 hours of country music every day and to track his productivity. It took 26 days of this routine to break him, literally into tears. That goes to show you what can even happen to a person that lives, breathes and preaches the importance of mindset. The media is a “pay per click” culture and they’ve realized that people will consume the negative stories before the positive stories. They understand the fight or flight mechanism of the brain so, “If it bleeds, it leads.” So, again, some words of caution as we all tackle this situation we’re in.
The point it this: Protect your mind from the media cycles this fall including all of the negative content that will be put out about the issues and challenges brokers are facing. Being in an election cycle and during massive changes within the industry, you will need to protect your mind like never before. Trevor Moawad’s video above proves that speaking your negative thoughts is 40 times to 50 times more powerful than your POSITIVE thoughts. “Right Mindset, Right Now” is so important. Note: I just took the “X” app (Twitter) off my phone because it was saturated with too much negativity.
Fourth point: During times of change, go deep on self-development. Improve your skills and develop your talking points and scripts.
Number 5: But really, you were built for this. If you are in my ecosystem, you've been focused on building a relationship-based business model. A relationship-based business model wins in every environment. If you have a large enough Top 100 that "know you, like you, and trust you", you will win.
I will end with this: prepare yourself for this transition in the industry to take 6-12 months. There will be winners and there will be losers and it will be obvious. The winners are ready for it. Sales and production numbers should be less important to you. Change your focus toward GCI and "profitability per hour" as the true measures to your success. During this 6-12 months, winning brokers will find themselves pulling the industry along as less prepared brokers struggle and exit. Be prepared for that. It will be what it will be.
Team, I'm here for it and I’m here for you. I am not afraid of change and in a weird kind of way tend to embrace it. 2007 to 2013 changed me; a time that was so difficult for the industry created such massive, positive changes in my life and business.
