There are two major mindsets that play a part in your success in life and in real estate: scarcity and abundance. Where your mind spends most of its time will determine the results you get and the relationships you have. We often recognize behaviors and characteristics in ourselves and others and chalk them up to being ‘just the way we are’ or not really a big deal. However, once you begin to learn how they are tied to an overall mindset and way of life, you’ll begin to make the connection between the level of success you’re experiencing, or the lack of it!
Popular author, Stephen Covey, addresses the scarcity and abundance mindset in his well-known book, 7 Habits of Highly Effective People. He notes that most people are living in the scarcity mindset; the thought that there is only one piece of ‘pie’ out there and if somebody gets a bigger piece of it, then there’s automatically less for everybody else. This gets played out in real estate when agents over-negotiate a deal when its their only one. Their worry that if they lose it, that someone else will get it, is tied to scarcity thinking. It also rears its head in hypersensitivity to other peoples success. When hearing about others business or financial or family successes make you jealous, envious, or resentful, its all because of scarcity thinking. Why? Because deep inside, you believe that person’s success is taking away from yours.
You may be thinking, “That’s not me! I love it when my loved ones are successful.” There’s more to it than that. Do you hold grudges? You have a scarcity mindset. Do you blame others for your failures? You have a scarcity mindset. Do you fear change or talk about other people? You have a scarcity mindset.
If this ever sounds like you, its time to get into the abundance mindset! Abundance comes from a deep, inner sense of personal worth and security.