I think it is safe to say that the real estate industry is at crossroads. Big changes have taken place. More changes are coming, even if there is uncertainty of exactly what those new changes will be.
All this turbulence has exposed a big problem for many real estate professionals: What used to work is often now an obstacle to success.
OLD HABITS
The old way is an easy habit. It may be socially accepted and even expected. It is comfortable and comfort makes us feel safe (even when we aren't). Old habits don't require as much thought. Others may not be as likely to resist or fight you, even if they do ignore you.
If the past was a big success, it is even more persuasive. Others now expect this type of success from you again. This makes doing something different feel even more dangerous.
When we are faced with uncertainty, it is an instinctive reaction to go back to what worked the last time. Our emotional comfort lies in past successes. Sometimes that is a good decision. Many times, the old ways of doing things no longer work, or no longer work well.
We all fool ourselves about many things, including our past. The possibility of failing when doing something new hampers us, especially if we think we've had it all figured out before.
BAD FASHION AND SPORTS
Ever notice someone that dresses in styles that were popular ten or twenty years ago? I bet that was a time of success (or perceived success) in their life. It still "feels right" to them, avoiding the risk of a new fashion. Same goes for old hair styles. Yet, what used to work for them then, clearly doesn't work now.
When coaching youth basketball for several years, I once heard a coach talk about one advantage of trailing on the scoreboard at half-time. He said that when the other team had a decent lead, it was unlikely they would make many changes. So, he knew exactly what adjustments he could make to get his team back in the game. The opponent was going to stick with what worked in the first half, even if it eventually lost them the game.
FIGHT CHANGE TO THE DEATH
Even in turbulent times, I see many real estate companies and professionals fight new technology, new customer service ideas, and new business models while their company uses the "way we've always done it" to drive the business into the ground. And as they fail, they blame everyone and everything but themselves. They see the failure as something they cannot control, such as the economy, the unfaithful clients or the competition. After all, they "know" what works, even if it has not worked well in years. It is a path to failure and takes professional maturity to overcome.
Not all changes will lead to success. But despite our human nature being resistant to change, the world is ever changing. Adapting is a key to success, including overcoming our distorted view of the past.
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