A Peak Producer Mindset

Here is a great little piece from a recent issue of Inman News:

Jet Xavier, a popular speaker and trainer in Australia, has uncovered 11 different mindsets that distinguish the top 5 percent of top producers from the rest. Knowing how to change your mindset will result in a better business and a better lifestyle.

Two distinguishing factors of top producers are their can-do attitude and their emotional resilience. Xavier contends that top producers think differently because their prefrontal lobes are more active as compared to agents who produce at lower levels.

The prefrontal lobes are in charge of complex processes including many types of decision-making. According to a report from MIT, the prefrontal cortex is “associated with planning, problem-solving and related tasks.” It also is associated with “emotion and impulses so that all areas of the brain can be better involved in planning and problem-solving.”

Xavier said an activated frontal lobe tends to “neutralize negative emotions, which is a huge advantage when selling real estate. This breeds more resilience, which is the ability to maintain positive emotions in the face of adversity.”

So, what can you do to shift to a peak producer mindset? Here are four suggestions:

1. Develop a learning mindset

A 2012 Texas Association of Realtors study of new agent sales success found that early real estate success was associated with having a learning mindset. Specifically, agents who sought their “Graduate, Realtor Institute” (GRI) or other designations early in their career were more likely to succeed. In contrast, agents who obtained their licenses by shortcutting the pre-licensing courses were much more apt to exit the business.

Furthermore, brokers who sponsor training events often lament things like, “I can’t believe it. All my top producers were sitting in the first three rows. The agents who needed to be here didn’t even bother to show up.”

Xavier’s experience confirms these findings. Top producers have a sponge mindset coupled with a growth mindset. Specifically, they are always learning. Moreover, they’re not only open to change, and they actively seek it, as with the Peak Producer and other advanced training.

2. What can I do to fix it?

Clotaire Rapaille, the marketing consultant to 50 of the Fortune 100 companies, has spent years determining what motivates buyers to purchase. For Americans, it comes down to three key terms: dream, hope and fix it.

Unlike the Germans, Swiss and Japanese, who expect perfection, Americans will rate a product higher when they had a problem and that problem was resolved.

Xavier describes the fix-it approach as having a solution-focused mindset, which means that you accept responsibility for what happens even though you might not have been the cause of the problem.

When someone is angry, one of the most productive things you can say is, “It was never my intention to make you angry. What can I do to fix it?” Notice that there is no apology or blame, only a sincere desire to resolve the issue. Xavier also argues that top producers use their difficulties as ways to learn and grow.

3. Have a Formula One mindset

To win a Formula One race, having leverage, effective delegation and efficient systems are critical. Are you still trying to do everything in your business? A common observation among many mega-agents is, “I don’t know why I waited so long to hire an assistant.”

Take a hard look at your business. What do you hate doing that would make your business more efficient if someone else did it? What systems are working in your business? Is there any way that you can strengthen them further? Also, what is not working? Is there a different system or approach that would work better?

Top performers not only work in their business, but they spend time working on their business. In other words, they regularly take the time away to evaluate what is working, what is and isn’t producing income, and what steps they can take to improve their performance even more.

4. Optimism

The law of attraction says that like attracts like. If you are pessimistic and negative, you will attract clients who are also pessimistic and negative. For the most part, customers prefer agents who are optimistic and excited about working with them.

A simple way to reduce pessimism is to keep a gratitude list. Each day, note five things for which you are grateful. It can be your health, your air conditioning working on a hot day, or almost anything that most people take for granted. Looking on the bright side can help you to bounce back more quickly even from the most challenging situation.

We are starting the second half of the year, so now may be a great time to take a moment and think about how your mindset is impacting your business!

David M. Hassler

VP, Professional Development