Cue Indiana Jones music – you are the hero in this real estate adventure.
Now swap your real estate suit for some khaki’s and imagine you’re embarking on a journey through a dense forest in search of the golden chalice of real estate success.
An illuminati of the real estate industry and seasoned explorer and expert, equipped with years of experience, hands you a meticulously detailed map outlining the exact route they took to uncover the treasure trove of success.
However, as you eagerly venture forth, full of new-to-real-estate enthusiasm, you quickly realise that the landscape has changed — trees have fallen, new obstacles have arisen, and the once clear path has become overgrown and impassable.
The expert’s map, while precise and well-intentioned, no longer aligns with the reality of your journey.
This analogy mirrors the experience of many newcomers to the real estate industry.
Eager to learn and grow, they often seek guidance from seasoned professionals.
Experts who have traversed the terrain of the industry and achieved success.
However, as they set out on their career journey, they encounter challenges and obstacles that the experts’ well-worn paths fail to address.
The curse of knowledge
Research supports the notion that learning from seasoned experts may not always be the most effective approach for newcomers.
Experts, while knowledgeable and experienced, often suffer from the ‘curse of knowledge’ or ‘expert blind spot’.
This phenomenon occurs when individuals, who are highly proficient in their field, struggle to understand the perspective of novices.
Their advice, while valuable, may feel out of touch and inaccessible, leaving newcomers feeling overwhelmed and discouraged.
Experts may inadvertently overlook essential steps or concepts that seem trivial to them but are critical for newcomers.
This oversight can hinder the learning process and impede newcomers’ progress.
Listing presentations are a great example.
The seasoned professional may get away with skipping a few key steps of the presentation and still win the business due to their reputation.
Where the newcomer needs to understand the importance of all the details, especially if things go off track, as they lack the experience and language the expert has developed to guide their clients back on track.
The compass
Instead of relying solely on the guidance of experts, newcomers to the real estate industry should embrace a different approach.
They need a compass rather than a detailed map.
A compass points in the general direction of a goal without providing step-by-step instructions, compared to the ‘paint by numbers’ instructions of a detailed map, newcomers should seek broader principles and frameworks that allow for adaptation and personalised navigation.
Even in the military, despite having state of the art GPS and electronic resources, every soldier is taught the timeless art of navigating using an analogue compass as a survival skill.
Plus, rather than relying on one specific path, which may be outdated or not relevant to your individual terrain, consider having multiple mentors, which can be akin to having multiple compasses, each pointing towards success but from a different angles.
Research suggests that exposure to diverse perspectives can lead to more creative problem-solving and decision-making.
By seeking guidance from mentors with varied backgrounds and experiences, newcomers can gain insights that align with their unique circumstances and goals.
Moreover, the flexibility afforded by a compass-like approach allows newcomers to adapt to the ever-changing landscape of the real estate industry.
Just as the terrain of a forest may shift over time, so too does the landscape of the real estate market.
Newcomers who are equipped with a flexible framework can navigate obstacles, seize opportunities, and forge their path towards success.
The map
But what about the allure of the detailed map and the tried-and-true strategies and tactics handed down by industry experts?
While these insights may offer valuable guidance, they should be viewed as tools rather than rigid blueprints.
Like landmarks in a forest, they can provide valuable reference points along the journey, but newcomers must be prepared to deviate from the prescribed path when necessary.
For newcomers embarking on their career journey in the real estate industry, embracing a compass over a detailed map is key to navigating the terrain effectively.
By seeking broader principles and frameworks, embracing diverse perspectives, and remaining flexible in their approach, newcomers can chart their course, overcome obstacles, and ultimately uncover their own hidden treasures of success in the dynamic world of the real estate jungle.
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