The real estate profession has always been in a state of constant change—so, there is nothing new about change. What is different about the change occurring today is the velocity of that change.
So, how do you keep up with it all? Here are some things to incorporate into your business to allow you to adapt, grow and prosper in today’s real estate practice.
Don’t fight change. Recognize you are not in control of the changes. They are driven by market forces, new attitudes and technology far bigger than any of us. Rather than opposing things that are new and different, try to understand, first of all, why they are changing, and then figure out how to adapt and alter your business to take advantage of them.
Read everything you can get your hands on. Today, it’s easier than ever to get information. Set a specific amount of time aside each week to learn and grow. Setting aside just one or two hours a week to learn more about the profession and how it is changing will totally alter your business, your perspective and your profit over the course of a year.
Get more education than conventional wisdom dictates. Most real estate professionals take only the amount of continued education that is legally required to renew their licenses. Let me define what those requirements really mean: They are the absolute minimum amount of education that is required by a government industry for minimal competence in the profession. That doesn’t sound to me like the aspirations I had for myself or my business. There are hundreds of classes from which to choose. Many are topics in which you have some interest or topics that you need to understand for your business.
Build a feedback loop. You need a constant feedback loop with consumers—one that can tell you what tools they are using and why. Ask them questions. Identify what is important to them and then adapt, change and alter your practices. You also need a peer support group within the industry. Putting yourself constantly in touch with other professionals who are leading the way, finding new approaches and adopting new practices will help you do so, as well.
Constantly reinvent yourself and your business. A number of the most successful agents I know always take time each year or each quarter to evaluate what they are doing, measure its success and then redefine the way they approach the business. What worked yesterday in all likelihood will not work tomorrow. If you are not constantly reexamining, reassessing and questioning your approaches, your skills and your techniques, it will be easy to get left behind.
Len Elder leads instructor development workshops across the country and has earned one of the top certifications in the industry: Distinguished Real Estate Instructor (DREI) with the Real Estate Educators Association. He is currently an instructor at Real Estate Express. Learn more at www.realestateexpress.com.