Market Leadership Pt. 2

Here is success secret that you can apply not only to marketing luxury real estate, but to all aspects of life, as well. It is an essential pillar of what we call the inner game of market leadership. There are two types of action: effortful action and inspired action. One is definitely more fun than the other. Inspired action just feels better. But, why is that so? Effortful action is the result of a mindset that is riddled with self contradictions and/or self-doubt. You want to list a luxury home but, the sellers insist on an unrealistic sales price. You have the notion that there is a scarcity of potential listings and you take it against your better judgment. Then, to make it more palatable, you justify this choice by telling yourself that it is a trophy listing, that it will help you get more listings of this caliber and attract more buyers. Every action that you take to market this home can potentially be effortful because of your internal contradictions. You say to yourself, “I just closed a deal on another house because I acquired a buyer who was originally interested in this over-priced listing, so it was worth it”. But, then you dread having to fight with the owners to lower the price. It is entirely possible this is your M.O. (modus operandi) and you actually enjoy this listing game plan. For you, it is fun. But, if you are taking overpriced listings because you believe that there is a scarcity of business, this approach will be fraught with effort, even if you do not readily admit it (to yourself). There is no effortful action required when you have an accurate price in an active market. That does not mean that proven negotiation skills are not required. Under these circumstances, negotiations are usually based on inspired actions making the transactions challenging at time but much more fun. At times, it takes resolve to keep your self-doubts and scarcity mentality at bay. Maintaining an abundant mindset requires consistent focus, and that takes practice. But, the rewards of inspired action that flow from this state of mind, vs. effortful action are plentiful: pure joy, loving what you do, enhanced health and a grounded sense of well being. This is what it feels like to win the inner game of market leadership

The Secret Behind Market Leadership

This is the beginning of a new article series for luxury real estate marketing professionals who have embraced the personal quest of gaining or sustaining market leadership. Here we cover the “inner game” of market leadership. We have all heard or experienced firsthand that winning the game of golf or tennis, or sports in general, is more mental than physical. True, it is important to have the right physical attributes required to win. But, what matters most, the determining factor for beating a worthy opponent is mindset. In marketing luxury real estate anyone with the means can outspend their competition. But, out-thinking your opponent requires tremendous focus and momentum. Cultivating and maintaining peak performance in business and in life involves having the right attitude which is the starting point of the inner game. It also requires the alignment of your thoughts and inspired (vs. effortful) action. A negative attitude diminishes your perspective. It is the indication that your thoughts are not aligned. Effortful action follows the misalignment of thought. Your attitude is a reflection of your belief in yourself or lack thereof. If you do not believe you can become the market leader or if you believe that you cannot hold on to the leadership position that you have achieved it will taint every other thought you have about your luxury real estate practice. The bottom line on gaining and sustaining market leadership comes down to sustaining the “I Can” belief overtime, without allowing the contradiction of that thought to have any power. Like the children’s story, “The Little Engine that Could”, it is a matter of creating a focused momentum of belief, “I think I can, I think I can, I think I can”. Then, you must notice and appreciate any and all evidence of progress that supports this belief, until you can say “I thought I could”, I thought I could, I thought I could”. Again, the experience of achieving this state of mind necessitates total concentration. That is, ignoring those who may attempt to distract you, discourage you, or try to convince you that you are not worthy of success. Additionally, there is almost a magnetic pull that you must defy, a pull to conform to mediocrity, a pull to not change the status quo. But, once you break free of this “force field”, another magnetic force field draws you nearer to your goal. That is when momentum propels you faster with even less effort. You are never too old to listen to the wisdom and optimism of that story about the momentum of belief in yourself. It is a key component in the inner game of market leadership.