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Just because real estate agents are dealing with uncharted territory in 2020, doesn’t mean the same basic strategies that have always worked won’t be able to hold them in good stead for the future.
Phil Tarrant and Tom Panos were speaking on a recent episode of What’s Making Headlines when the executive editor of REB said “we’re in a VUCA environment”.
“V is for volatility, U is for being uncertain, C for being complex, and A for ambiguity.”
Framing that within the context of real estate, Mr Tarrant said “V” is for volatile markets: “No one knows what’s happening.”
Uncertainty appears to be a given.
When it comes to the “C”, Mr Tarrant acknowledged that it’s a complex environment right now, while the “A” is in recognition of there being a lot of ambiguity.
“If you understand the environment that we’re operating in right now and you understand what the environment is going to look like into the future, it’s going to be very much a VUCA environment,” the executive editor considered.
Despite the current challenges facing real estate agents, Mr Tarrant said many of the topics being talked about now in the industry are the same ones that were being discussed 20 years ago.
“The principles and the philosophies of success haven’t changed that much,” he conceded.
“It’s really just embracing them with the modern way of doing things, or a different environment — a VUCA environment.”
He commented that high-performing professionals are able to master “the dichotomy” of what it takes to be successful, saying that “it’s all about getting the basics right and working on the rails, and then putting the sizzle into the 10 per cent of stuff where you can really make a difference”.
“Work out how you can play that game better than everyone else,” he concluded.
ABOUT THE AUTHOR
Grace Ormsby
Grace is a journalist across Momentum property and investment brands. Grace joined Momentum Media in 2018, bringing with her a Bachelor of Laws and a Bachelor of Communication (Journalism) from the University of Newcastle. She’s passionate about delivering easy to digest information and content relevant to her key audiences and stakeholders.
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