Do you believe that in order to succeed in life and business you have to work for it, or do you put your success down to fate or luck?
Now that the downturn has well and truly set in, one thing is for sure, what worked for you before most certainly will not work for you now.
In order to succeed in environments such as the current one, you need to unlearn some of what you already know and relearn what you need to know, in order to survive and thrive.
There is a reason the top 1% of agents succeed in downturn markets. They take control of the situation and position themselves to best weather the storm and come out ahead. The people who are the best at this have what psychologists call an Internal Locus of Control.
What exactly is a Locus of Control?
Well, there is a concept in phycology called the Locus of Control which is basically an individual’s belief regarding the amount of control they have over the outcomes of events in their life.
To put it simply, when dealing with a challenge in your life, do you believe you have control over the outcome, or do you believe you are at the mercy of outside forces such as fate or luck?
If you are in the first group, believing you have control over what happens, then you fit into the category of Internal Locus of Control.
If you believe you have no control over outcomes in your life, you have what is known as an External Locus of Control.
So, how does this fit into Real Estate?
An agent who has an Internal Locus of Control will not let the market dictate how many properties they are capable of listing and selling. They will take it upon themselves to get further training and coaching to help change up the way they attract and convert business.
An agent with an External Locus of Control will do everything to lay the blame on outside forces when faced with a change in the market. They will make complaints such as competition being the issue, not enough or too much stock, sellers not willing to meet the market, buyers not committing, other agents offering cheaper fees, the other agent included the marketing, and the list goes on. They will use every excuse under the sun.
When it comes down to it, an Internal Locus of Control is more desirable as you believe that your own actions have had an impact and that you have control over the outcomes of certain situations. In other words, when the going gets tough, the tough get going. The top 1% of people in business believe they are in control of their own destinies and do whatever it takes to continue to become or remain successful.
So, which one do you want to fall under? Do you want to dance to your own tune or play the blame game?
If you’re like me and want to take control of your future success, make sure you sign up to my upcoming FREE half-day Real Estate Brilliance webinar with Ryan Thompson.