Problem Solving Capacity - Do You Have It?

Of course you have the capacity to problem solve. If you are a realtor, you are likely well-versed in the relationship between problem-solving and production; just like risk and reward balance each other out in the real world of real estate, so do problem-solving capacity and production. There’s no such thing as a low risk and high reward opportunity (beware of the guy who makes you that offer).

Low risk and low reward go together, just as high risk and high reward go together. It’s a universal principle, and like Floyd says about principles, I didn’t invent the principles. I was just dumb enough to be smart enough to apply them.”

 

Let’s apply the same principle to the relationship between problem solving and productivity.

Show me an agent who never has any problems keeping their deals together, and I will show you an agent who isn’t putting any deals together. The more transactions you have, the more problems you face - and have to solve. This shouldn’t come as a surprise to anyone.

And yet, it does. I see it and hear about it again and again. Problems arise and agents are surprised, or demoralized, or upset, knocked off track, or worse. Some quit because of it.

Then there's the agents who protect themselves from problems by not producing.

It isn’t a conscious choice. In fact, it’s kind of unconscious. Like some deeply buried inner strategy that was effective long ago, but has hung around and become a self-defeating habit.

Everyone wants more income; income comes from production, and problems come with production. So, in effect, people are saying, "I want more income, but I don’t want any more problems."

We’ve all heard stories about lottery winners becoming instant millionaires, and then without millionaire-level money management skills and habits, what happens to them within a short period of time? They go back to being the broke person whose retirement plan is hoping to win the lottery.

 

Here are a few simple and easy steps to increase your problem-solving capacity and increase your production:

1. Put out the WELCOME mat to problems. Develop a new mental response. Replace “Oh, no, not again!” with “Yippee, another problem! It must mean I’m doing deals!” This takes practice and constant reminders, but it’s the foundation of a shift away from anxiety and stress.

Whatever happens in your life, if you call it good, it will turn out good.

2. Develop a strategy for taking the monkey off your back. It is not 100% up to you and you alone, to solve every problem because you are not alone in every transaction. There are other people involved, all of whom have a vested interest in getting to closing.

Whenever a problem comes up, let others know about it, and ask for their input, suggestions and solutions. Seek advise from your broker, alert the Seller and/or the Buyer, the other broker, the co-broke agent, the lender, the appraiser, the inspector, the attorneys, etc.

A group of people working together as a team for a common goal will always be more productive than a bunch of individuals.”

3. Join a problem-solving group where you can get and give objective advice to like-minded people. Form a mentoring group, a master mind, a Board of Directors, or join forces with an R Squared Coaching Team

There is great solution-creating power in Floyd’s "Ask The Experts" process. Problem-solving exercising works the same way as physical exercise. If you exercise muscles, they become stronger, and if you don’t, they atrophy. Luckily, this process doesn't involve any extra time at the gym.

You will be pleasantly surprised how much happier real estate can be when you learn to welcome problems, develop a strategy for handling problems, and keep your problem-solving skills sharp.

 

If you need a little help along the way, or are looking for a supportive team to encourage a growth mindset, we offer weekly coaching calls. Click here for an audio recording of The R Squared Story.

 

The Floyd Wickman Team blog by Mike Pallin

Do I Stay or Do I Go?

Don’t Confuse Them With The Facts (If You Don’t Have To)