Real Estate Learning: Foundational Professional Cognition

This chapter, "Working to Learn in Real Estate: Fundamentals of Professional Thinking," is part of the "Fundamentals of Professional Thinking in Real Estate" course. It aims to provide participants with a systematic perspective on the importance of investing in learning and professional development before fully engaging in real estate brokerage. Practitioners often rush to earn quick income, bypassing the necessary knowledge and skill foundation for a successful and sustainable career.

Scientific Importance:

The chapter's importance is based on the principles of occupational psychology and management science, which emphasize continuous learning and professional development as essential for success in any profession, especially in dynamic and competitive fields like real estate. Relying on intuition or limited experience may lead to unsatisfactory long-term results and lost opportunities for growth and expansion. The chapter focuses on acquiring specialized knowledge, understanding market dynamics, and developing negotiation, marketing, and customer relationship management skills before practicing the profession. It highlights the importance of strategic thinking and systematic planning to achieve professional goals.

Educational Objectives:

This chapter aims to achieve the following educational objectives:

1. Identify the importance of the "working to learn" phase in real estate: Recognize that investing in learning and professional development is a solid foundation for a successful and sustainable career in real estate, similar to professions like medicine.
2. Analyze the risks of immediately "working to earn" without adequate preparation: Understand the potential negative consequences of rushing to earn quick income without acquiring the necessary knowledge and skills, including poor performance, loss of clients, and negative impact from market changes.
3. Apply strategic thinking principles in professional planning: Learn how to develop realistic and measurable action plans, identify short- and long-term goals, and choose appropriate strategies to achieve these goals.
4. Develop the basic skills necessary for success in real estate: Acquire specialized knowledge in real estate, develop negotiation, marketing, and customer relationship management skills, and understand relevant laws and regulations.
5. Differentiate between "Ready, Aim, Fire" and "Ready, Fire, Aim": Understand the importance of prior planning and preparation ("Ready, Aim, Fire") for better long-term results, rather than rushing into work randomly ("Ready, Fire, Aim").

Through these objectives, participants will adopt a professional mindset, make informed decisions, and build a successful and sustainable career in real estate.

Work to Learn in Real Estate: Fundamentals of Professional Thinking

Real estate is dynamic, requiring renewed skills and continuous professional thinking. Quick success tempts beginners to "work to earn" without sufficient attention to "work to learn." Investing in learning and professional development before pursuing profits is crucial for a real estate agent's career.

Comparison with Other Professions: A Look at the Medical Model

Medical students spend years in theoretical study and practical training before independent practice. A surgeon's learning journey may take twelve years, including university, medical school, internship, and residency. These investments ensure high-quality healthcare and patient protection.

Reality in Real Estate: Challenges and Opportunities

Real estate agents often start their careers by paying for training with credit cards and expecting immediate income. Many are forced to "dive in" and learn while earning due to financial obligations. This approach may neglect fundamental aspects of strategic thinking and planning.

Importance of "Work to Learn" in Real Estate

Instead of rushing into profits, agents should pause to think and learn. Allocating time to study market dynamics, negotiation techniques, and real estate laws/regulations provides a solid foundation for sustainable success. This aligns with "Ready, aim, fire!" rather than "Ready, fire, aim!" in the long run.

"Think First": Key to Long-Term Success

This chapter aims to provide agents with an "intensive course" in "work to learn." Even with an appealing personality and strong work ethic, adopting a specific mindset and focusing on key issues can open new horizons. "Thinking first" can prevent errors and help achieve larger goals.

Thinking Methods Adopted by Successful Real Estate Agents

One-third of success in real estate is based on attitude and perspective. It's about changing habits in a precise, targeted manner. Like a mechanic identifying an engine sound before repair, an agent needs to pinpoint aspects of their thinking that need improvement.

Model: Nine Ways of Thinking

The "Nine Ways of Thinking" model divides the successful agent into two main categories:

1. Foundations of Thinking:

   • Think Powered by a Big Why: Having a strong, inspiring motivation. This can be expressed as:
     • Motivation = (Desire x Intensity) / Obstacles
     • Where:
       • Motivation: Motivation
       • Desire: Desire
       • Intensity: Intensity
       • Obstacles: Obstacles
   • Think Big Goals and Big Models: Setting ambitious goals and leveraging successful models in the field.

2. Supporting Thinking:

   • Think Possibilities: Seeing available opportunities and thinking outside the box.
   • Think Action: Taking concrete steps to achieve goals.
   • Think Without Fear: Overcoming the fear of failure or rejection.
   • Think Progress: Focusing on continuous improvement and learning from mistakes. Progress can be measured using KPIs such as number of deals completed, sales volume, and customer satisfaction.
   • Think Competitively and Strategically: Understanding competition and developing effective strategies to surpass it. Competition can be analyzed using tools like SWOT analysis.
   • Think Standards: Adhering to the highest standards of quality and professional ethics.
   • Think Service: Prioritizing customer needs and providing excellent service.

Importance of Self-Analysis

When consulting agents, it's important to focus on their way of thinking. Instead of judging their current production level, ask how they feel about it, why they chose real estate, and what motivates them to continue. This analysis helps identify strengths and weaknesses, and develop a professional development plan.

Conclusion

"Work to learn" is the foundation of professional thinking in real estate. By investing in learning and professional development, and adopting the thinking methods of successful agents, agents can achieve sustainable success and excellence in this competitive field.

The chapter addresses the importance of "working to learn" in real estate, prioritizing knowledge and skills acquisition over immediate profit ("working to earn"). It criticizes the common practice of novice agents focusing on immediate income instead of building a strong foundation of understanding.

The chapter compares the real estate agent path to that of a doctor, highlighting the extensive training required in medicine. It notes that many real estate agents enter the field as a second career or income source, often under financial pressure, limiting their professional development. The chapter emphasizes the importance of agents prioritizing "working to learn" through in-depth study before engaging in the market. It advocates for a "ready, aim, fire!" approach, emphasizing planning and preparation over rushing into action ("ready, fire, aim!"). The chapter highlights the importance of strategic thinking and planning before acting, noting that delayed thinking may not be beneficial. It presents nine thinking methods of successful agents, categorized into foundations (strong why, big goals, big models) and support (thinking in possibilities, thinking in action, thinking without fear, thinking of progress, competitive and strategic thinking, thinking by standards, thinking of service).

The chapter concludes that sustainable success requires a shift in mindset, from immediate income focus to investing in knowledge and skills. Strategic thinking and planning are essential for long-term success, and agents with a growth and continuous learning mindset are more likely to succeed financially and professionally.

The chapter calls for stronger theoretical and skills-based components in agent training programs. It urges agents to adopt continuous learning through reading, training, and expert consultation. It encourages agents to develop strategic business plans with measurable goals and key performance indicators. Finally, it advocates for agents to focus on the quality of their services over quantity of transactions.