When it comes to being a successful real estate investor, knowledge and skills go only so far. Without a winning mindset, and the willingness to listen and help, you can actually defeat the purpose intended.
Whether you’re dealing with a distressed seller or establishing a relationship with a potential buyer, having the right mental attitude and knowing how to make each interaction a positive one will make all the difference. I always say, “In real estate you need a psychology degree more than a real estate license.”
Will a Winning Mindset affect My Business?
The key to adopting a winning mindset is to always anticipate a positive outcome. Expectation combined with positive visualization fuels our energy and drive, which in turn will lead to a favorable outcome.
This isn’t a pop culture myth. Psychologist Michael Scheier (in his groundbreaking research with the power of optimism) proved that optimists do better than pessimists. Why is this? Because optimistic people are problem solvers who don’t dwell on the negative aspect; and they resolutely believe in a positive outcome.
Ready to put Your Winning Mindset to Work?
So, just how can you apply a winning mindset and thrive in the business of real estate investing?
- Evaluate the way you relate with sellers and connect with buyers: Sellers in a distressed situation will deal only with people who they feel they can trust. It’s not about you. It’s about them. If they think you are there to sincerely help them and make it a win-win situation they will work with you and compromise more than you think.
- Connecting with buyers is a selection process: Not every potential buyer is a good fit for what you are trying to achieve. Understanding the buyer’s needs and connecting on a mutually beneficial level will weed out those who are too greedy and inappropriate to work with.
- Simplify and focus: Real estate investing isn’t as complicated as it might appear. Take a step-by-step approach and simplify each challenge to its root cause. Next, focus on breaking down the goals for each step in the process. This will make it easier and more straightforward when it comes time to explain the transaction to a seller and get a new potential buyer on board.
- Lead from the front: Your sellers and buyers don’t have to know the whole process. That said, they are more apt to follow your lead and let you control the transaction when you demonstrate confidence in the goal and outcome.
- Trust yourself. You know more than you think: Women possess a natural intuitive ability in dealing with situations. Trust your gut feeling, your instincts. When paired with some basic real estate knowledge these innate abilities can put you in control of the situation; offering beneficial solutions to you, as well as the buyer and seller.
- A winning mindset with a positive expectation will draw people to you: Sellers will see you as the answer to their dilemma. They are trying to make some tough choices and may not be in the best frame of mind to make the right decision for themselves. You can provide them with hope and help. Buyers will connect with you when you emanate confidence and trust. All the while, you’re providing a great commodity, real estate expertise.
One of my favorite ‘quotes to live by’ is from Maya Angelou: “You can only become truly accomplished at something you love. Don’t make money your goal. Instead, pursue the things you love doing, and then do them so well that people can’t take their eyes off you.”