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We’ve arrived in a new era of real estate. It’s unclear what changes will come, but we can be certain that the old ways of doing things are going to change. 

“In times of change, learners inherit the earth, while the learned find themselves beautifully equipped to deal with a world that no longer exists.”  

These profound words by Eric Hoffer hold a timeless truth that resonates strongly in the world of real estate. As leaders in this ever-evolving industry, it is crucial to recognize the significance of continuous learning and adaptation. In this article, we explore the need for real estate leaders themselves to be lifelong learners, always ready to pivot and innovate in response to shifting markets, as well as larger changes industry-wide. 

The Ebb and Flow of Real Estate 

The real estate industry is no stranger to change. From economic fluctuations to technological advancements, the landscape is in a perpetual state of flux. Those who cling to outdated methods and practices risk becoming obsolete, while those who embrace change are poised to seize new opportunities. 

The Nature of Adaptability 

A Swiss psychologist genetic epistemologies, Jean Piaget, outlined his theory of cognitive development, which involves adaptation and assimilation – essentially, how we process and learn new information. 

When it comes to adaptability, every person has schemas, which are cognitive and mental structures that are formed based on past experiences and help us to understand the world around us. Taking in new information and fitting it into our previously existing schemas is called assimilation, but this doesn’t always work seamlessly. Like a child who knows what a cat is might see a dog and think it’s a cat because of that pre-existing schema – they are both small, furry, and have four legs and a tail, the discovery that it is NOT a cat is where the next phase of adaptability comes in: accommodation. This is where people process this new information by altering their beliefs to adjust to this new information. In the case of this child, they might notice the differences between cats and dogs, and thus, a schema for dogs is created to adapt to this new understanding.  

A study conducted in 2021 called Adaptability and psychological flexibility: Overlapping constructs? talked about the relationship between adaptability and psychological flexibility. Several interesting concepts were listed here in that adaptability was only one aspect of our mental resources needed to embrace change positively: 

• Adaptability – a key mental resource and refers to a person’s cognitive, behavioral, and emotional adjustment in situations of change and uncertainty.  
• Psychological flexibility – a person’s ability to allow experience and acceptance of negative thoughts and feelings while being guided by a commitment to goal-driven action according to their self-chosen values. 
• Resilience – a buffering response to severe or ongoing problems that have the potential to damage or impede a person’s developmental process.  
• Buoyancy – the capacity to work through everyday difficulties or challenges.  
• Coping – an individual’s perceptions or belief that they do not have the resources to deal with specific situational demands, and is often related to their adversities. 

While these are all related, they are each a resource in their own right. Where do you fall on the scale of adaptability? Where do your team members fall? 

Adopting a Growth Mindset 

Taking into account these facets of adaptability, a growth mindset is the cornerstone of successful leadership in real estate. It is the belief that abilities and intelligence can be developed through dedication and hard work, just like adaptability can. Leaders with a growth mindset believe that challenges are opportunities for growth rather than insurmountable obstacles. They actively seek out new knowledge and skills, not only for their own growth but to share for the good of the whole team.  

It’s more than being resilient; it’s about thinking forward and creating a new schema for this new mindset based on the past, but moving forward into something new, even if you don’t fully understand it yet. 

Staying Ahead of the Curve 

To be a leader in the real estate industry, one must be at the forefront of industry trends and innovations. This requires an unwavering commitment to staying informed about emerging technologies, market shifts, and regulatory changes. It means attending conferences, networking with peers, and engaging in continuous professional development so that you are prepared to live in the new world as it takes shape, and bring your team along with you. 

Fostering a Culture of Innovation 

True leaders inspire innovation within their organizations, and this might be the most important part of bracing for the plethora of change ahead in this time of disruption and the wake of the NAR Lawsuit verdict.  

The old ways MUST give way to new ways, and leaders need to encourage their teams to think creatively, experiment with new ideas, and challenge the status quo. By creating an environment that fosters innovation, creativity, and out-of-the-box thinking, leaders empower their teams to adapt to change and drive the evolution of the industry rather than merely cope. 

Related reading: The Four Agreements: A Blueprint for Creating a Resilient Team 

The Takeaway 

The words of Eric Hoffer serve as a poignant reminder of the importance of continuous learning and adaptation. As leaders, it is our responsibility to be lifelong learners, always ready to pivot and innovate in response to shifting market landscapes so that nobody gets left behind. By embracing change, fostering a growth mindset, and staying ahead of the curve, we not only position ourselves for success but also pave the way for a thriving future in real estate.  

For Your Agents… 

Being adaptable is arguably the greatest skill that any leader or real estate agent could have, given the nature of this industry. That is why we wanted to share an article with you so you could help your team grow more resilient and adaptable in the face of uncertainty.  

Outlining ways agents can face adversity with more mental flexibility, check out our article here: 7 Strategies for Real Estate Agents to Master Adaptability 

Know that agents do NOT have to go it alone in this market. Our goal is to bring the tools, training, and coaching to not only survive the shifts – but also build solid, dependable foundations they can count on and help them build clients for life. If that sounds like a goal that can help you reach YOUR goals – then join us for our Free Weekly Real Estate Webinar Training Series! Click below to register for the next one!  

Darryl Davis is an award-winning international speaker, real estate and business coach, and best-selling author of three books, all published by McGraw Hill Publishers.    

For more than 35 years, Darryl has spoken to and trained more than 100,000 sales professionals around the globe to more than double their production year after year. His book, How to Become a Power Agent in Real Estate, tops Amazon’s charts for one of the most sold books to real estate agents.    

He was awarded the Certified Speaking Professional (CSP) designation by the National Speaker’s Association which is given to less than 2% of all speakers worldwide.    

Whether from a stage or Zooming into a virtual room, Darryl’s extraordinary humor, relatability, and natural gift for teaching real-world, results-producing skills and mindsets to audiences have made him a client favorite throughout his career.    

Audiences will laugh, learn, and ultimately walk away better prepared for a changing world, with the tools, skills, and training they need to build their businesses with more ease and less stress and to design lives and careers worth smiling about.    

Bring One of Darryl’s W.O.R.K. Topics to Your Organization!   

By providing your agents with the knowledge and insights they need to stay ahead of the game, you can ensure that they are equipped to handle any situation that comes their way! Contact us here to learn more!