Viewing Low Inventory Through a New Lens

by | Apr 1, 2022

It’s difficult to go a day without seeing multiple articles in the real estate press about the crisis of low inventory.

It’s affecting every aspect of the real estate industry, including recruiting.

How do you react when a crisis comes your way?

In  a post from the archive, Shawn Achor reminds us that a crisis creates stress for most people, but there is always a group of positive outliers who see the opportunity in what’s happening.

Shawn did a study of bankers right after the huge banking crisis hit. Most of them were incredibly stressed. But a few were happy and resilient.

What did those individuals have in common? They saw the changes in the landscape, not as threats, but as challenges.

So, these people are just wired differently and our duty is to envy them, right? Not so fast.

Shawn did a follow-on experiment that proved this attitude could be learned.

Shawn’s second experiment was based on something surprisingly simple. The stressed-out bankers were shown a training video on how to see problems as challenges rather than stress producers.

The results? Those who watched the video saw a 23% drop in their stress related symptoms.

Was there something magical about the video? I don’t think so. Not sure about you, but I’ve never seen a magical corporate training video. They usually put me to sleep!

So, the magic must be the principle itself.

Shawn came to the same conclusion. He also concluded the principle is not hard to teach. If a video produced a 23% improvement, think of the improvement one-on-one coaching would have produced.

First coach yourself, and then try integrating this principle into your upcoming coaching sessions with a message like this:

Problems are challenges. A resilient person who focuses their attention and effort on the challenge with a positive attitude experiences less stress and performs at a higher level. Let me help you see your problem through a new lens.

The Simple Psychology of Real Estate Recruiting [2nd Edition]

Unlock the secrets of effective real estate recruiting. Revised to include actionable frameworks for sharper execution and to help you turn psychological theory into a repeatable recruiting system.

The Attrition Variables

The Attrition Variables

While these attrition constants still have the greatest influence, there are some emerging attrition variables worth noting. People also tend to leave companies when: They feel like they’re not doing as well as others in their peer group outside the company. They feel like they’re not as far along as they should be at a certain point in life.

The Attrition Constants

The Attrition Constants

If you’re not focusing most of your retention effort on these issues, you’ll miss the mark. If you’re not focusing most of your recruiting effort on exploiting these weaknesses among your competitors, you’re missing the best opportunities.

The Persistence Mindset

The Persistence Mindset

A leader equipped with this mindset can have a profound effect on the life and career of each individual they engage. It works because an agent is getting a real-time glimpse of what it would be like to work on your team. But it only becomes believable when it is persistently applied over time.