Why is it only 20 per cent of agents reach that magic million dollar GCI milestone? And why do most max out their earning potential around five years into a real estate career?
It could come down to your money mindset and the limiting beliefs you have about finances, according to certified financial planner, Michael de Haan.
As the founder of Quantum Leap Global, Michael works with individuals and business owners to reframe their thinking around money and success.
He notes there are eight common money mindsets and they’re established as early as childhood.
That might mean your parents’ approach to money is the baggage you carry with you today. And it could be affecting everything from the way you do and don’t talk about money to the financial reward you believe you deserve.
In this episode of the Elevate podcast with Elite Agent managing editor Samantha McLean, Michael takes a deep dive into the money mindset looking at how it impacts your financial wellbeing, how it affects business, and how it might even be the root cause of your struggle to justify your commission to clients.
He offers tips on how you can have an honest conversation with yourself about your approach to money, define your money type and reframe that thinking for greater financial empowerment.
He also looks at how financial stress has a dire impact on the workplace and shares his tips on what leaders can do to address an issue that manifests as lost productivity, lost workplace satisfaction, lost creativity and so much more.
No matter where you are in your real estate journey or what role you play in the industry, this is an invaluable podcast that will see you question the way you think about money, rethink what you believe you deserve, and empower you to take action to secure your financial wellbeing for the future as part of a life you design.
“If you’ve got that awareness and curiosity about what’s happening in your life and you’re saying, ‘Hey, I want to make some changes’, reach out to the right people to get that support and then dig in deep enough and then change it. You can change the narrative, change the story, change your life.” – Michael de Haan
Samantha and Michael also discuss:
- How your money mindset is shaped, the different types and how they impact your financial wellbeing.
- Why your money mindset isn’t about the way you spend money, but instead, how you approach your finances.
- How to identify your personal money mindset then shift it to one that serves your vision, goals and lifestyle.
- Why the money mindset relates directly to real estate during the oft-dreaded fee conversation, and how negotiating what you are worth showcases your skills to a seller.
- What novice agents should do to get started on the right financial footing and how that translates to professional skill.
- Why agents reach a glass earning ceiling five years into their career, and what you can do to get out of the rut.
- How the money mindset affects business success, and why you should take a profit-first approach as an entrepreneur or leader.
- Why financial stress is one of the biggest issues all employees face, affecting team productivity and performance, and how leaders can help their staff attain financial wellbeing.
- How financial wellbeing relates directly to mental health and general wellbeing, and why money mindset and your life vision should be part of a holistic approach to life.
- Michael’s favourite resources for learning how to identify and manage your money mindset.
And much, much more…
Links and resources mentioned
- Quantum Leap Global
- Barefoot Investor – Scott Pape
- Profit First – Mike Michalowicz
- The Law of Attraction – Esther and Jerry Hicks
- The Heart of Money – Deborah L Price
Connect with Michael