Do you feel stuck in your real estate business? It’s easy to blame it on external factors, thinking “I just don’t have the right strategies!” or “Things in my market are down!”. But what if the reason you’ve hit a plateau is something else entirely?
Yep, I’m talking about your mindset.
Here’s what you need to remember…👇🏼
Inner shifts drive outer growth. What’s happening inside often manifests on the outside.
So if you want to create external results in your real estate business – more money, more clients, a growing team – the first place you want to start is your beliefs.
Our beliefs shape actions, and our actions drive results. If core beliefs conflict with ambitious goals, you’ll stall in neutral. The way forward? Rewrite self-doubts into empowering narratives that align with your big, audacious goals.
Understanding Limiting Beliefs
In its simplest form, a limiting belief is a state of mind, conviction, or belief that you think to be true, but it actually limits you in some way. These beliefs are sneaky – they’re often subconscious and can dictate our actions and reactions without us even realizing it.
In real estate, these limiting beliefs can be particularly insidious. They might sound like, “I’m not good enough to handle luxury listings,” or “I can’t compete with the top agents in my area.”
Maybe it’s even a belief that you’re not tech-savvy enough to leverage digital marketing to get leads, or that you need to work 24/7 to be successful.
These beliefs aren’t just negative thoughts, they’re deeply ingrained patterns that sabotage our growth. Understanding them is the first step to dismantling their power over us.
Where Do Limiting Beliefs Come From?
Many of our limiting beliefs are rooted in our childhood. Our upbringing and the environment we grew up in heavily influence our belief systems as adults.
For example, a child in a family stressed about money might grow up hearing things like “Money doesn’t grow on trees!”. As a result, when they’re an adult, they may be fearful of spending money and investing in their business, as they feel like money is a scarce, finite resource.
Another child might grow up in a well-off family, but their parent is always busy with work and barely spends any time with them. As an adult, they may start to equate increasing their income with having less time to spend with their kids. Because of this subconscious belief, they might be hesitant to grow their business and their bottom line, feeling like their relationships with their kids will suffer. In reality, growing your business and making more money allows you the freedom to spend MORE time with your kids, but they’re viewing the world through the lens of their childhood.
Family dynamics also play a crucial role. The early attitudes we were exposed to about risk, failure, and success greatly influence our business decisions today. And societal norms, like the stereotype that “wealthy people are greedy or evil,” can subconsciously deter us from pursuing higher-income clients or scaling our business, for fear of judgment from others.
How Your Limiting Beliefs Are Sabotaging Your Real Estate Business
There are so many ways that undetected limiting beliefs can rear their ugly head in your business. Let’s explore a couple of ways they could unconsciously be sabotaging your efforts to get to the next level.
Say, for example, you have a potential client reach out to you on social media. You get super excited and agree to work with them! However, this client then demands that you cut your commission by 50%, threatening to take their business elsewhere if you don’t comply.
If you have a scarcity mindset, possibly stemming from a childhood belief that “not having money makes you inadequate,” you’ll probably agree to this cut.
Why? Because deep down, you might feel that any income is better than none, even if it means devaluing your service. This decision doesn’t align with your goals – but that old narrative of scarcity, and the fear of being ‘less than’ without money ends up dictating your decision.
Another way this shows up is resistance to video marketing for real estate, even though you know it has the power to grow your business.
You know it’s essential, yet there’s a hesitation. It’s not just about finding the right words or the perfect angle. It’s deeper.
It’s about the fear of being seen and judged, the anxiety of not being ‘good enough’ compared to others. This might manifest as spending hours worrying about finding the ‘right’ editing app or constantly revising your script. But at the core, these are just forms of procrastination and avoidance so you don’t have to deal with your fear of being seen.
READ MORE: How Karyn Got Over Her Visibility Fears & Built A Powerful Online Presence
If you’ve been reading this and have a sneaking suspicion that limiting beliefs might be messing with your growth, here’s what you can do to turn things around. 👇🏼
Building Awareness: Your First Step Towards Change
Awareness is key. You can’t change what you aren’t aware of. About 90% of our decisions are made on autopilot, based on our past experiences and deep-rooted beliefs.
This might be efficient for our brain, but it’s often not aligned with our goals for success and growth in real estate. To break free from this cycle, start by developing an ‘awareness muscle.’ It’s about catching yourself when you’re about to make a decision based on fear or outdated beliefs.
For instance, consider the moment when you’re tempted to lower your commission out of fear of losing a client. By recognizing that fear is driving this decision, you create awareness. Or, when you’re putting off creating a marketing video, understand it’s not about the lack of technical skills but the fear of being judged or not being perfect.
Rewiring Your Mindset For Success: Transforming Awareness into Action
Reprogramming your mindset is a detailed, deliberate process. It’s not a quick fix. Just like forming a new habit, transforming limiting beliefs into empowering ones can take anywhere from 21 to 90 days. Though it might seem like a significant commitment, it’s relatively short when you consider the impact it can have on your real estate business.
This process involves identifying your limiting belief, questioning its truth, and consciously choosing a new, empowering belief.
For instance, shift from “I need to reduce my commission to keep clients” to “My expertise and service are worth full compensation.” Or change “I’m not cut out for video marketing” to “I don’t have to be perfect, I just have to be my genuine self to attract clients online”.
Transforming your limiting beliefs is a journey that requires patience and self-compassion. Remember, change doesn’t happen overnight. It’s a process of taking incremental steps, and sometimes feels like you’re moving two steps forward and one step back. But with consistent effort and commitment, you can shift these deep-rooted habits and beliefs.
Be gentle with yourself as you navigate the process of rewiring your beliefs. Growth in your real estate business isn’t always linear, and it’s okay to face setbacks as you learn and evolve.
The key is to stay focused on your goals, trust the process, and consistently reflect inward, allowing your internal growth to shape the external reality of your real estate business.
If you’re ready to break free from the limiting narratives holding you back and scale your business beyond your wildest dreams, The Listings Lab is your next step.
With tailored support on everything from mindset to systems and marketing, you’ll have everything you need to build a profitable, 7-figure business – no hustle required.
Say goodbye to outdated, inauthentic tactics and hello to a world of strategies that help you seamlessly turn strangers into clients while being radically yourself.
Book a call HERE with our team to see how we can help you scale your business from 6 to 7 figures so you can make 2024 your best year yet.