What Does a Growth Mindset Look Like?

Imagine viewing every seemingly insurmountable obstacle as a learning opportunity for personal or professional growth. This perspective is at the core of the “growth mindset,” a concept that believes that people can change and grow. Adopting this mindset can propel you toward positive action and professional success in the real estate business.

What is a growth mindset?

A growth mindset recognizes that our capacities are not fixed. The only ceilings are the ones we impose–and we can break through those. When it comes to working in the real estate industry, whose cyclical nature requires you to thrive in the face of adversity, a growth mindset nourishes a long-term career. 

But what does a growth mindset look like when applied to real estate?

From Research to Reality

The concept of mindset is one that’s backed by science. A neurological study by Dr. Carol Dweck of Stanford University uncovered differences in how people react to challenges in everyday life. Dr. Dweck’s research has been pivotal in clarifying the “growth mindset” concept. In a nutshell, she defined two mindsets:

• A fixed mindset: Intelligence is seen as static. People believe their capabilities are constant and unchangeable.
• A growth mindset: Intelligence and abilities are seen as qualities that can be developed through dedication and perseverance.

Individuals with a fixed mindset showed negligible brain activity when confronting mistakes. However, those with a growth mindset displayed significant brain activity, signaling engagement in the learning process.

We’ve all heard the excuses–the “I can’ts” and the “I don’t know.” Those people who expect deals to fall into their lap, who don’t put in the work and the grind, who see selling homes as a “part-time thing….” Those are the qualities of people that don’t last in real estate.

The Anatomy of a Growth Mindset

Helping people buy and sell real estate is a tough business that economic uncertainties can make even more challenging. But those with a growth mindset don’t care if there are fewer homes to sell, fewer buyers buying, or whatever the conditions are. They put their energy into learning and finding a way to succeed.

What these individuals have in common are:

• Resilience: The capacity to recover quickly from life challenges. Resilient individuals don’t see failure as a negative endpoint but as a step toward success because they have learned what isn’t working.
• Embracing Challenges: Instead of avoiding difficulties, those with a growth mindset tackle them head-on, knowing that overcoming obstacles opens opportunities for growth. Going through problem-solving leads to new discoveries and can open doors to new lines of business.
• Learning from Feedback: Critique isn’t taken personally—it’s embraced as a valuable tool for learning and improvement. They put conscious effort towards personal growth.
• Humility: Humble acceptance of the fact that no matter our level of expertise, there is always room to grow. No one person is ever “the expert.” They seek to uplift others rather than climb over them on the ladder to success.
• Adaptability: Adjusting to new conditions and altering strategies in the face of changing realities is an absolute must for longevity in real estate–and any business.

Note that a growth mindset has nothing to do with a lack of intelligence. But even intelligent people can struggle with negative feedback or siloed thinking. A mindset of growth is an approach to life that relies on cognitive resilience. This can be a powerful catalyst for sustaining a career.

Real-life Growth Mindset Examples

Harvard Business Review Online shared the story of Indya Wright. When transitioning from commercial banking to establishing her PR firm, Wright recognized her capability to learn and adapt. She knew her previous career in finance didn’t confine her intellectual abilities or natural talents. Rather, she was empowered to absorb the “language” of a new, unrelated industry.

“You need to find ways to equip yourself with the skills necessary to sustain your business,” Wright said, calling her taking classes “investing in her success.” It showcases her commitment to continuous learning—a hallmark of the growth mindset.

This carries over to real estate. How many top performers started in a totally different career? We’ve met teachers, former business owners, firefighters, paramedics… They didn’t let their past work hold them back. Instead, they used their innate gifts and leveraged their soft skills. Details like how to market homes, understanding financials, or industry regulations can all be learned. The ability to communicate clearly or to collaborate with people? That transcends career paths.

Why lean into a growth mindset

A growth mindset thinking is transformative. It’s the belief that we are never fully formed—that each day presents a new canvas to paint our progress, plot our evolution, and play out our potential. It shapes how we interpret our experiences and informs how we respond to them. Each setback is reframed as a set-up for an even better comeback, each critique as a critical point for learning, and every change as a chance to excel in new ways. 

In a meeting with a new staff member, real estate mogul Lori Finkelstein recounts saying, “I just want you to know I’m really excited about our journey together. It’s not going to be perfect, and I’m giving you permission right now to go barrel forward, knowing you’re going to fail at certain points. But don’t wait to get it perfect for us to move forward. That’s why everyone gets stuck. They’re so afraid to mess it up.”

In giving herself and the people on her team permission to fail, Lori opens the door to limitless possibilities. They feel empowered to take risks, adapt, and change. This action lays the foundation for contributing positively to the communities and industries we belong to.

Fostering growth in yourself

Understanding what goes into the growth mindset is the first step to integrating it into our daily lives. Start by shifting perceptions and behaviors to view life as a series of learning experiences. Resilience, embracing challenges, constructive feedback, humility, and adaptability are not just abstract concepts—they are practical tools that can redefine our career trajectory. So, challenge yourself to grow as a real estate professional. Take joy in the effort as you navigate the path to success. Learn from every fall, rise with new insights, and always remember—your potential is perpetually under construction.

Updated July 2024