Real Estate Agent Mindset Training - Scarcity Vs. Abundance - Real Estate Coaching

Use this real estate agent mindset training video to help realtors grasp the importance of purposely adopting an abundant mindset to prevent scarcity-based thinking.

Real estate agent mindset training is essential. We all fall into a scarcity-based mindset by default. We all fall into victim mode when something negative happens. Everyone does.

What matters is: how quickly can you pull yourself out of it, and change your mindset to be based in growth and abundance? How do Top Producers pull themselves out of scarcity and purposefully change their own thinking?

VIDEO: Real Estate Agent Mindset Training – Scarcity Vs. Abundance

Real estate agent mindset training: What is a scarcity mindset?

There are a lot of excuses that keep real estate agents making excuses about why Top Producers are successful. These excuses will keep you right where you are – living with a “scarcity mindset.”

Excuses:

Well, they’re a Top Producer because they have X
Oh, they’re only a Top Producer because they do X
They’re a Top Producer because they are already established

People who aren’t Top Producers try to come up with reasons why they are different from a Top Producer. They try to come up with excuses as to why they can’t be successful, too.

Of course, the answer to why you aren’t a Top Producer could never be:

You’re lazy
You don’t do the activities
Fear of the unknown
You are too comfortable and seek comfort

A scarcity mindset is when you look to differentiate yourself from a successful person to justify why you can’t be successful. Talk about becoming your own worst enemy!

The difference between a Top Producer and you

We coach many of the Top Producing agents, teams, and broker/owners across North America. These people are millionaires several times over. Their production is not affected by the real estate market. The difference between this Top Producer and you is that they have the mental discipline to do things to get more business. They take control of their destiny and they do business by design, not by default.

This kind of success comes from the opposite of a scarcity mindset.

The difference between this Top Producer and you is that they have the mental discipline to do things to get more business. They take control of their destiny and they do business by design, not by default.
Brian Icenhower

Real estate agent mindset training: What is an abundance mindset?

“If it’s going to be, it’s up to me.”

I’ll say it again. Run your business by design, not by default. What exactly does this mean? This means that when the market goes down, by default, an agent’s business will suffer as well. You are taking what is handed to you by default.

Business by design means that you are going to make things happen. You are going to determine how things will go for you. And, you are going to do whatever it takes to increase production despite the market conditions. You are going to make a plan, based on what has been proven to work, to build your business better. You are going to do your business the way you design it.

I would hate to have any business that is dictated by the ups and downs of the economy.

You don’t want external forces (that are out of your control) to control the success (or failure) of your business. That is too risky of a business model. It’s certainly nothing you can depend on, or that your family can depend on.

You don’t want external forces (that are out of your control) to control the success (or failure) of your business.
Brian Icenhower

Living in scarcity

Here is a bullet-point summary of what we know about living with a scarcity-based mindset:

All of the excuses
Victim mentality
Not solution-oriented
If you stay in this place, you become a career victim
In need of a coach, desperately
Not self-aware

Real estate agent mindset training: Victims complain, blame, and justify

Victims complain about their current situation, the “hand they’ve been dealt.” They blame other people and entities for the problems they have. And, they justify why they can’t do what is needed to fix the problem.

People with a scarcity mindset are in desperate need of a coach. They may feel like they “know” the solution to their problems, but they are stuck with a scarcity mindset. You can have all the knowledge in the world, but without the push to get out of your comfort zone and get rid of that victim mentality, you will remain stuck.

A coach can help you recognize your issues, put a plan in place for moving out of scarcity, and keep you accountable for pushing yourself forward, out and away from your own excuses.

One of the biggest problems with having a scarcity mindset is that you likely don’t realize you have a scarcity mindset. All it takes to have a scarcity mindset is to complain, blame, and justify for too long.

Living in abundance

Here is a bullet-point summary of what we know about living with an abundance-based mindset:

People are attracted to you
You do the uncomfortable activities
You get the results you want
Positive mindset achieved through intentionality
You are coachable
You are learning-based

Understand this important point: an abundance mindset is not something you are born with. Everyone starts in a scarcity mindset. It is easy to stay in victim mode. You only get out of it and into an abundance mindset through self-awareness and hard work.

How does a Top Producer pull themselves out of a scarcity mindset and purposefully change their own thinking? What separates them from the rest?

They know how to control their own mindset. Top Producers tell themselves, “I know I can,” all day, every day. They trust themselves.

“Intelligence” is the enemy

Success in real estate is not determined by intelligence. In fact, intelligence may be your worst enemy. I’ve seen so many highly intelligent people have the hardest time. This is one reason why real estate agent mindset training is so essential.

Your brain is crazy town, and you are the mayor. If you are really smart, you give a lot of credibility to yourself. Which is not helpful when it comes to real estate.

You honestly don’t really need to “think through” anything in real estate. There is no use for reinventing the wheel. It’s all been done before, and you need someone to simply show you the path to success. It’s already out there. Your intelligence will get in your way of accepting what you are told.

Complaining, blaming, & justifying

Smart people are very good at trying to figure out why they shouldn’t do something the way they are told to do it. They are great at complaining, blaming, and justifying – especially justifying.

You’ll often see that the highest producers in the MLS are not brain surgeons. “They’re not smarter than me – so why are they so much more successful than me?” It’s their mindset. They have control over their mindset.

Mindset is very different from intelligence. People who are too focused on their own intelligence will often think their way out of doing something that they are told because they are always trying to figure out an easier way to do it. People who are focused on having a positive mindset based in abundance will focus on “I can do it” and get themselves through the uncomfortable, proven activities.

Real estate agent mindset training: Stop thinking, start doing

Are you a student of the game or a player of the game? There is something to the term, “useless knowledge.” Do you need to know everything, or do you need to be good at doing the proven activities that will get you the results you want?

Understand this important point: an abundance mindset is not something you are born with. Everyone starts in a scarcity mindset. It is easy to stay in victim mode. You only get out of it and into an abundance mindset through self-awareness and hard work.
Brian Icenhower

Real estate mindset training: Get a coach

It is hard to change. It is difficult to get out of a scarcity mindset. Honestly, it is probably the biggest reason to hire a coach. A coach will be able to work with you on your issues and help you with your mindset.

Top Producers Traits

Top Producers are

coachable
able to learn from others
self-aware
humble and listen to the experts
not trying to reinvent the wheel
willing to do the uncomfortable activities
reliant on their systems

New Agents Who Fail

I have met thousands of brand new agents in various real estate companies across the country over my career. The agents who tell me “Oh, I know that, I learned about that during my training,” or “I know all about this topic” – those are the agents who fail. Every single time, without exception. The type of agent who says they know it all already are the ones who will quickly fail.

The new agents who succeed are humble. They are self-aware. They realize they can always learn more. And, they realize they can’t do it on their own.

An abundance mindset is present in someone who is humble, open-minded, learning-based, and very coachable. If you are reading this right now, you are likely this person – or, at least, well on your way to adopting an abundance mindset.

5 steps to mastery

There is a process to adopting an abundance mindset. I’ve laid it out in the graphic above. You can also download this graphic for FREE at the end of this blog.

You go through these five steps, over and over again, with every new uncomfortable skill you must acquire in your career.

Unconscious Incompetence – You don’t know what you don’t know yet. This is a tough one. Most people start out here. You are not self-aware.
Conscious Incompetence – You know what you don’t know. You have some knowledge and you become more self-aware. And, you know that you don’t know enough. This is the essence of becoming coachable.
Conscious Competence – You know. You aren’t a master yet, but you understand that you have the knowledge to do the task at hand. You have gained wisdom. A lot of people get stuck here, however, because it isn’t pleasant. It isn’t easy yet. You have knowledge and you are beginning to apply it, but you are still new.
Unconscious Competence – You know, and it’s easy. You have gained experience and with practice it has become a habit. It feels more comfortable. You have a system and you are getting results.
Mastery – You are an expert. It is so easy that others now look at you as a master. You are so good at it that you can teach someone else.

It’s a numbers game

Remember, real estate is a numbers game. You have to do your activities over, and over, and over again, habitually, to get results.

An abundance mindset says, “Yes! You did that activity 100 times and got 5 deals out of it! That’s awesome!” A scarcity mindset says, “Yikes! You did so much work and failed 95 times.”

Remember, real estate is a numbers game. You have to do your activities over, and over, and over again, habitually, to get results.
Brian Icenhower

FREE DOWNLOAD: 5 Steps to Mastery PDF

This PDF is today’s FREE download for subscribers. Download this PDF diagram of 5 Steps to Mastery. This will help remind you of this important real estate agent mindset training topic.

Want to learn more?

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