When it comes to finding success in a career, does mindset make a difference? World-renowned Standford University psychologist and author Carol S. Dweck, Ph.D. would tell you it does. Specifically, Dweck would go on to explain the two main mindsets that people possess, growth vs fixed mindset, and how having a growth mindset is essential to finding success in all that you do in life. 

 

Today we’re diving into this study further and reviewing how having a growth mindset in your real estate career is essential to finding long-term success and what you can do to develop such a mindset. 

 

Growth vs Fixed Mindset

What are the main differences between a growth vs a fixed mindset? When you have a growth mindset, you embrace challenges and learn from failures. You embrace the idea that your talents can be continuously developed, and it’s never too late to evolve. A fixed mindset, however, is the opposite. Those with a fixed mindset believe that their abilities and talents are unchangeable. They are firm believers in either having the abilities or not. Because of this, those with a fixed mindset avoid challenging themselves. They believe that they know what they know and are more resistant to trying something new. One other major difference between those with a growth mindset and those with a fixed is that those with a growth mindset are open to feedback because they know that it will lead towards internal growth and will benefit them in the long run. 

 

The below image from fs.blog depicts the key differences between each mindset and how each contributes to your overall view of the world.

 

 

 

Why Is A Growth Mindset Important in Real Estate?

When you work in real estate, each day is going to look different. There are going to be new challenges and obstacles that arise that you will have to overcome. Your success is going to depend on you view those obstacles. Those with a fixed mindset may look at those challenges and view them as failures. In real estate, this is not the attitude to have. As a real estate agent, you need to be able to embrace those challenges, solve problems, continuously learn about your local market, and come up with solutions to help your clients reach their goals. Additionally, in your career, you should seek out feedback, either from your colleagues or clients, so that you can continue to evolve and be the best version of yourself for the clients that you serve. 

 

How To Develop a Growth Mindset

Set Goals

Set yourself up for success by developing SMART goals for your business. These are specific, measurable, actionable, realistic, and time-oriented goals. This will allow you to focus your time and efforts on reaching the goals that you have set for yourself to build your business.

 

Embrace Challenges

Run towards things that challenge you. By embracing challenges, you’ll be able to refine your skills and unlock new innovative ways to address obstacles. Because new challenges arise often in real estate, having this skill will allow you to build a successful career.  

 

View Failures as an Opportunity for Growth

While embracing failure is always easier said than done, viewing failures as an opportunity rather than a setback will allow you to feel confident in taking risks and accepting that there is always more than you can learn. 

 

Be Open to Feedback

View constructive criticism as a way to continuously improve. It’s not always easy to hear that you may be doing something wrong, but it’s much better to accept this early on and make the necessary adjustments to improve your future outcomes. Understand that it’s impossible to know everything and there’s always something new you can learn. Feedback is a fantastic tool that can be used to help you continue your growth. 

 

Aim to Go to Bed Smarter Than You Woke Up

Having a focus on learning is a major component of having a growth mindset. Aim to go to bed having learned one new thing during that day. One way to achieve this is by blocking some time each day to read a book or digest a news article. Having that hunger for learning will enable you to grow and succeed.

 

Reward Yourself For the Work, Not the Results

It’s important to reward yourself for sticking with your goals and putting in the effort, regardless of the results. For example, if you made it a goal to stick to a prospecting schedule for the week but did not get any listing appointments, don’t beat yourself up! Reward yourself for the work that you put in to get to your ultimate goals. It will all pay off and there is no benefit to beating yourself up for not getting those immediate results. 

 

Bottom Line

A key part of finding success in your career comes down to your mindset. Facing obstacles and challenges in your daily life comes with the territory of a career in real estate. Your chances of finding success comes down to how you approach things when times get tough. If you look at new challenges as a growth opportunity, then you’ll be able to set yourself up for a successful career for years to come.