Leaning into Your Luck: The Good Fortune of Commercial Real Estate

This is edition 14 of The CRE Agents’ Weekly. ?? ?

Each week we are publishing specific and tactical advice for commercial real estate agents and leaders who want to accelerate their revenue and elevate their motivation.

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Leaning into Your Luck: The Good Fortune of Commercial Real Estate

Australia, affectionately dubbed 'the lucky country', has experienced its fair share of good fortune.

If you work in commercial real estate, chances are, you'd agree with this sentiment, and that you’ve also had a good amount of luck in your life, too.

But have you ever asked yourself, do you truly act like you’re lucky?

In commercial real estate, opportunities abound. Yet, how often do we encounter industry professionals still clutching to outdated beliefs that hinder their growth?

I’ve been reflecting on the past and thinking: what is it that stops many of us from fully embracing our success, and why are old patterns of thinking still prevalent?

Mindset is a potent tool. Your beliefs significantly influence your decisions, actions and results.

My own past is a case in point. Despite being in the top 1% when I lived and worked in Korea, I can remember an instance when I was called out for hesitating to dine at a posh restaurant.

At the time, it seemed "too expensive”, even though I could afford it (as the person who called me out was all too keen to remind me!).

It’s a bit embarrassing to look back on, but it’s a classic example of how deep-seated beliefs from our past can overshadow the present-day reality.

Maybe you can relate.

Another example is people who hesitate to invest in themselves, even when they can see the benefit.

I used to be one of those people who expect their employer to pay everything, including my professional development.

If this is your perspective too, consider this: if you're not willing to invest in yourself, why should anyone else be?

The heart of the matter lies in evolving your mindset to align with your current situation.

In commercial real estate, your past socio-economic status doesn’t define future success – but the beliefs you hold onto could.

Therefore, it's crucial to constantly reassess and recalibrate our beliefs to match where we currently stand and where we aspire to be.

Holding onto the past – the practices, patterns, and beliefs that got us to where we find ourselves today – might not pave the way for future success.

As the saying goes, "What got you here won't get you there."

For instance, the process of rebranding and repositioning a brand – something I’ve noticed many commercial real estate businesses doing recently – underlines the importance of evolving with times.

It’s a costly exercise, but one that represents a forward-looking vision. It requires an understanding that, to align with future aspirations, it's sometimes necessary to let go of elements that served us well in the past.

So, it’s time we all took a moment to reflect: are we holding onto beliefs that no longer serve our interests?

Are we allowing old mental patterns to dictate decisions that may not align with our current situation or future ambitions?

The key is to challenge and change these outdated beliefs. Embrace the 'lucky' mindset, understand your worth, and align your actions to reflect the opportunities and successes that commercial real estate presents.

After all, Australia might be the 'lucky country', but luck truly favours those who are prepared, both in action and mindset.

If you’ve made progress in this area, as I feel I have, I congratulate you, but remember to always question – is there more to be done?

Because success is not just about the buildings you work on and deals you do; it's fundamentally about building a resilient and adaptable mindset so you can deal with the next level of growth that you’re capable of.

And finally…

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Mindfulness reduces overwhelm.

Look, I’m not a meditator, nor am I a mindfulness expert (wrong newsletter, brah!). But, as someone who used to lose their cool too often, I have found it helpful to be present in the moment. It reduces stress and raises productivity.

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Next time

If you don’t set goals, I’ve got an awesome hack that can help you leverage the power of goal setting in our next edition of the newsletter.

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About the author

Darren Krakowiak is the Founder of?CRE Success?and the author of?The CRE Agents’ Weekly?on LinkedIn. He works with commercial real estate leaders to accelerate growth in their business. Darren is also the host of?Commercial Real Estate Leadership; you can follow?CRE Success on YouTube.