How to use a growth mindset to drive our industry (and your business!) forward

I’ve attended several industry events recently and much of the discussion continues to focus on the short game: the top of the funnel. I wonder after all these years, and despite the abundant technological innovations in real estate that support the entire buyer/seller life cycle: are we fixed as an industry with a fixed mindset, which cannot move beyond lead generation? As someone who has worked in real estate technology for the past fifteen years, I can understand why today’s real estate agents – and the team leaders and brokers who manage them – can feel stuck, paralyzed by fear and uncertainty. While today’s real estate professionals continue to face headwinds, now is the time to focus on the long term and adopt a growth mindset to support a sustainable career, rather than focusing on lead generation activities ( the activities that may be the easiest to access). This is also precisely the time when technology can play a crucial role in helping agents, teams and brokers transcend short-term hurdles and achieve top-of-funnel focus.

One of the biggest challenges I continue to hear from brokers regarding technology is poor user and feature adoption. In many cases, agents are not utilizing the full capabilities of the technology platform provided to them, and of the 20-25% of agents within brokerages who use the platform, they are still using only a limited set of features. With thoughtfully designed tools to drive better conversion rates, automate social media marketing, and streamline time-consuming tasks, technology is an important enabler of business growth, but only when fully maximized. Agents need to go beyond a fixed mindset when it comes to technology and invest the time to learn the platform. Those agents who do will thrive, while others who remain solely focused on the top of the funnel will struggle to survive.

To help today’s real estate professionals overcome today’s market challenges, develop a growth mindset, and leverage technology from search to settlement, I recommend the following best practices:

• One by one: At first glance, a new technology platform can be overwhelming to navigate and often a source of frustration, leading to low adoption rates. Rather than trying to tackle the entire library of features at once, take one at a time. For example, use social media automations to establish your online presence and ensure consistency. Then consider another feature – from IDX templates to smart plans – that could have an immediate impact on your business and discover which tools will help you streamline your daily life. Before you know it, you’ll have mastered the entire platform, allowing you to focus on revenue-generating activities to grow your business.
• Set a good example: The most effective way for agents and team leaders to inspire agents and encourage adoption is to demonstrate how they themselves are using technology successfully. Fueled by a growth mindset, real estate leaders can serve as examples for the many agents who struggle to effectively use technology beyond the top of the funnel. Host monthly discussions to highlight popular features and demonstrate ROI. Offer tips/tricks based on personal experiences and schedule training sessions to provide the support agents desperately need to overcome typical obstacles.
• Integrate into the recruitment process: The next generation of agents are more tech-savvy than ever and more likely to have a growth mindset. Take advantage of this natural affinity for innovation in the recruitment process. Showcase the platform you offer agents and ensure new agents learn and use the technology from day one. By integrating the platform into the onboarding process and weaving the technology into the fiber of your operations, you’re more likely to attract tech-savvy agents and increase adoption to drive business growth faster.

These are exciting times for our industry and technology innovations continue to improve to support the needs of modern agents. AI, for example, rightly continues to take the main stage. AI eliminates simple, time-consuming tasks and instead allows agents to focus on revenue-generating activities and delivering essential customer service to sales-ready prospects. From intelligent chatbots to strategic marketing campaigns, social media content development to smart follow-up, AI is a linchpin in keeping an agent top of mind among sales-ready leads to drive long-term success. However, agents and brokers need AI to interact with prospects and customers in a reliable and consistent manner. This can only be achieved if agents adopt a growth mindset and take the time to understand and learn to use the technology effectively.

While real estate professionals continue to face headwinds, it’s important to keep in mind that technology – especially the platform that is delivered seamlessly when hiring – is not a barrier to growth, but a true enabler. While top-of-funnel activities are easy to access and fill an immediate need, the real benefit of lead generation comes when these leads are nurtured and ultimately converted. This is achieved faster and more efficiently by relying on an end-to-end platform designed to support the entire process – from search to checkout. By adopting a growth mindset and maximizing the technological innovations at your fingertips, agents, teams and brokers will be better positioned to achieve unprecedented business growth and ensure long-term professional success.

Stuart Sim is the Vice President of Industry Development at Lofty.

This column does not necessarily reflect the opinion of HousingWire’s editorial staff and its owners.

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