Real Estate Agent Mindset Coach - Use this Realtor training video to help agents perform the uncomfortable activities required to generate their desired results.
If you are looking for a real estate agent mindset coach or training, you’re in the right place.
Sean Covey was the business guru of yesteryear, and I’m dating myself a bit here, but he talks about a lot of concepts that have become near and dear to everything we coach and train our team leaders and agents on at ICC.
The concept I’m going to touch on today is focusing on activities vs. focusing on results. A good real estate mindset coach should cover this concept early and often.
VIDEO: Real Estate Agent Mindset Coach – How to Train Your Mind
Real estate agent mindset coach: ABIs Vs. RBIs
One of the big concepts that Covey would always talk about is the difference between activities and results. I use the term Activity Based Indicators (ABIs) when talking about activities, and Results Based Indicators (RBIs) when talking about results. (Covey refers to ABIs as “Lead Measures” and RBIs as “Lag Measures.”)
In The 4 Disciplines of Execution, Sean Covey’s book, is a nuts and bolts type of book about how you should run your organization. It’s perhaps more for leaders but good for any person trying to grow their business.
Within the 4 disciplines, discipline number 2 is to “focus on the lead measures, not the lag measures.” In my terms, that means to focus on the activities, not the results.
Real estate agent mindset coach: When you focus on the results
Unfortunately when you focus on results, it causes you to run your business by default, not by design.
When you think about results, you think about things like, “Here’s how many transactions I’ve closed, year to date.” Or “Here’s how many I have under contract right now.” Those are the results.
If you focus on your results, there’s nothing you can do about them. You can start to fixate on numbers that you can’t change. Sometimes results can motivate you, sure, but you can’t do much with this information. If instead you focus on the numbers that get you listings and get you closings, that get you houses under contract – now, it’s something actionable.
“Did I call 5 people in my sphere of influence (SOI) today?”
“Have I completed all of my daily client event contacts for my upcoming event?”
“Did I get on Facebook and do my 10-10-5 for the day?”
These questions will give you insight into how you are doing, and what you could be doing better. You are focusing on activities, not results.
You don’t just sit around and analyze your results. If you analyze your results, you just become that log floating down the river, hoping it takes you to a good place.
You let the market determine your business and your business is affected by shifts in the market. You have no control. This is a business by default.
A business by design is quite the opposite. You have control. You focus on activities.
Questions from a real estate agent mindset coach
These are important questions that your real estate agent mindset coach will ask you.
- What activities are you doing?
- Are your activities written down?
- Do you have your activities timeblocked?
- Do you have a coach, mentor, or accountability partner?
- How important is it that you get your activities done each day?
- Do you have a dashboard?
- Are you focusing on the activities? Or the results?
Results will follow
If you focus on the activities, we know that the results will follow.
This isn’t rocket science. Nobody’s telling you to do anything inventive or outrageous. Find a model that works and then repeat it until it becomes habitual. Once it becomes a habit, results will follow. That is the key.
You must adopt this activity-focused mindset over and over again.
The concept of “Big Rocks”
There’s a principle that Sean Covey talks about called “Big Rocks.” He has a big glass cylinder and he talks about the activities that we make ourselves do throughout the day.
If you fill your day with “little rocks” – the less important activities – your whole day will fill up. Your glass cylinder will fill up quickly.
Then, at the end of the day, if you try to fit in the “big rocks” – your important activities – they simply won’t fit. You will feel too busy with everything you’ve already done that day.
This is why you put your “big rocks” into your glass cylinder first. Use your morning to do the important activities. Start the day with lead generation. Get done with your “big rocks” by noon. After lunch, you can take care of your “little rocks.” Covey demonstrates that once your “big rocks” are already in your glass cylinder, you can pour the “little rocks” in and it sinks in and fits.
When you get your important activities – your “big rocks” – taken care of first thing, you can ensure that you aren’t skipping out on the most important activities to grow your business.
Real estate agent mindset coach: Pareto Principle
You may be familiar with this principle. Sometimes it is referred to as the 80/20 principle. This principle applies to many different parts of your life.
When we apply it to business and time management, specifically, it can help you understand the “Big Rocks” analogy. Only 20% of what we do in a day – the “big rocks” – gets us 80% of our results. 80% of what we do – the “little rocks” – barely gets us anywhere.
Real estate agent mindset coach topic: Big Rocks Vs. Little Rocks
Big Rocks (your 20%)
Little Rocks (your 80%)
- Office meetings
- Customer service for existing clients
Top Producers know that their 20% activities get them 80% of their results. Their “big rock” activities are their income-producing activities. The 80% activities only get them 20% of their results. Their “small rocks” are business servicing activities.
I’ve coached thousands of agents, so I can speak to the truth of this. And, I can speak to the absolute necessity of prioritizing your activities. “Big rocks” first – always.
Don’t play the victim card
This is real estate agent mindset coach 101. A lot of agents begin to play the victim card. “Well, the kids’ schedules are just so busy, I don’t have any time in the morning to do lead generation.” “I’m too busy helping my current clients.” “I’ll find time to do it after a few more closings.”
Victims begin to complain, blame, and justify why their “little rocks” are getting all their attention.
Get out of your scarcity mindset. You must come from abundance. You must shift your mindset, or you will fail.
Real estate agent mindset coach: Learning to focus on income-producing activities
Focus on income-producing activities – the business you don’t have yet. Business servicing is important, but not as important as securing new business.
Your existing clients are already your clients! Yes, take care of them, but they are the “little rocks” now. Their issues can be addressed after you are done taking care of your “big rocks.”
Your Marketing Department Stays Open
A good real estate agent mindset coach will tell you that you must be constantly doing activities that will provide you with future business. Real businesses always keep their sales and marketing departments open. They don’t devote all their time, or even most of their time, to customer service.
Income-producing activities must be your primary focus.
Lead generation vs. lead conversion
Your real estate agent mindset coach may need to remind you of the difference between lead generation and lead conversion. If you find yourself focused on your current clients, your mindset needs to change.
Lead generation is going out and getting new business. That is an income-producing activity. Lead conversion is converting a lead or a client that you’re already working with. That’s a big difference.
I’ve watched agents on real estate teams talk a big game, saying they’re successful, and that they sold 30 houses this year.
Then I ask them how many of those leads were provided to them by their team? (That would include any online leads, and leads from the rainmaker’s SOI, etc.) They start to realize that they didn’t generate any of those leads themselves. They may have converted the lead, but that doesn’t mean they generated the lead.
Lead generation is the name of the game
Lead generation is the name of the game in real estate. If you don’t have a business where you are generating the leads, you are nowhere near mastery. You are probably at step 2 (conscious incompetence) at best. You don’t even know how to lead generate. You’re just practicing lead conversion all day long.
If you don’t have leads to convert, you are going to starve.
Lead generation is the most important, highest-dollar-per-hour activity in real estate. If you don’t have this skill mastered, you are always going to be dependent on someone to give you leads. And if you lose that source, you will fail. Don’t be reliant on anyone else for your leads.
It is very important to master lead generation and master those habits. Don’t tell yourself you are too busy converting leads to lead generate. If you’re not lead generating, your marketing department is shut down.
Real estate agent mindset coach: Activities over results, always
Agents who don’t lead generate as a part of their daily activities have a scarcity mindset. Why? Because they are constantly scrambling to convert the leads they do have, and they are constantly stressed out about what to do next.
They don’t have a pipeline of leads they are generating at all times. They don’t have the ability to come from abundance because they are afraid of losing what they’ve got. These agents don’t want to do the uncomfortable work that is required to lead generate and create a successful business model.
You must get into an abundance mindset and always focus on activities over results. Your activities will propel your business forward.
FREE DOWNLOAD: Daily Schedule for Realtors
This PDF is today’s FREE download for subscribers. Download this example of a Top Producer’s daily schedule and notice which activities are prioritized.
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