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Adopt An Immigrant Mindset To Thrive

Immigrants are more likely to prepare for the worst and hope for the best. It’s intuitive to plan ahead in our personal lives, but brokers have to do the same with their businesses, too. If you’re seeing blue real estate skies overhead now, it’s a perfect time to prepare and make a plan for when the storm clouds roll in. If you want to thrive under any circumstances, adopt an immigrant mindset and be prepared for the worst.

Here are ways to build the immigrant mindset in your brokerage and be ready for anything.

Assess potential challenges

Make a list of circumstances that could derail your business. This is not an exercise in gloom and doom: It’s one to prevent doom and gloom. What happens if your top producers quit or retire? Or what if the market has a downturn? Maybe your competitors start stealing away your top agents or attracting the best new talent. Maybe interest rates go up and buyers get nervous.

Make a plan

Preparing under duress is a recipe for failure. But if on the other hand, we make a plan while our heads are clear, we know it’s one that makes sense. Write out a plan with steps detailing how to get there.

Execute the plan

In business, we sometimes wait until the middle of the storm to plan. But that’s when we should be taking decisive action. People tend to have one of three reactions in a tough situation: They fight and get aggressive, flee the situation completely, or freeze up. Having a plan ahead of time allows you to skip the panic of trying to figure it out in the middle of the stress. Instead, when it gets rough, you can just execute the existing plan rationally and calmly.

Realtor Magazine. (February 6, 2017). To Thrive, Adopt an Immigrant Mindset.

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