April 14, 2024

Embracing Disruption: How Real Estate Professionals Can Turn Breakdowns into Breakthroughs

Disruptors in our industry are the forces that challenge the status quo, pushing us out of our comfort zones and into the unknown.

What if, instead of fearing disruption, we saw it as an opportunity for growth and transformation? What if we took up the challenge to look at disruptions in our industry as catalysts for positive change, turning breakdowns into breakthroughs?

Breakdowns Equal Breakthroughs

We are big on this concept here at Power Headquarters, not just to help coach our members, but even in our internal team. The foundation for this concept comes from the role of test pilots in the armed services. Their job is to intentionally push a brand-new plane beyond its limits to discover a breakdown in its equipment. Their mission is to find weaknesses and vulnerabilities so that engineers and scientists can then fix them and make improvements, ultimately leading to a stronger and safer aircraft. So, they literally FIND and sometimes even CAUSE the breakdowns so they can create breakthroughs.

It’s the same for us in our industry. It’s scary right now, we know. We’re staring down the barrel of BIG change, and that has a lot of people hitting the brakes, getting emotionally drained, and many even packing up and leaving the business. Hear us out, though. Just like you can’t have hot water without cold water in order to be able to distinguish between the two – it’s the contrast that can help us identify what needs to change in this industry.

Every disruption, whether it be technological advancements or changes in consumer behavior, presents an opportunity for us to become stronger, learn, and adapt. Instead of dwelling on the negative aspects, we should seek ways to turn breakdowns into breakthroughs.

Real-Life Examples of Breakdowns Leading to Breakthroughs

The Internet Revolution (1990s): Before the Internet, real estate listings were exclusive to agents and were printed in books. BIG BOOKS. The advent of the internet caused panic in the industry as fears arose that consumers would no longer need real estate professionals. However, the industry adapted, and agents transformed into expert advisors, offering value beyond being gatekeepers.

Rise of Online Platforms (2000s): Platforms like Zillow and Realtor.com began aggregating listings and providing information directly to consumers, further demystifying the home-buying process. So, what did we have to do to adapt? We had to provide additional value, leading to a shift towards better customer service and expertise.

The Era of iBuyers (Recent Years): Companies like Opendoor introduced iBuyer services, simplifying the selling process with instant offers on homes. While some saw this as a threat, it made real estate professionals realize the unique value they bring to homeowners and improve their communication skills to showcase that value and how some of these programs actually hurt the consumer, not help.

The Pandemic and Virtual Showings (2020): The COVID-19 pandemic forced the industry to adopt virtual tools for showings and transactions. Despite initial fears, the real estate market saw significant growth as agents became more tech-savvy, ultimately making the industry stronger.

We share those examples to illustrate that disruptions aren’t new to us, so don’t panic. In every instance in our history, real estate professionals have consistently demonstrated resilience and adaptability. Instead of fearing change, we should embrace it as an opportunity to evolve and become even better at what we do.

Disruptions are not the end; they are the means to a brighter future because they will make us stronger at what we do and better at how we communicate with transparency, honesty, and integrity. Just as it takes friction to sharpen the pencil, industry friction will help you sharpen your skills. It’s an essential part of the industry’s evolution, as are you.

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