The value of a real estate coach and ongoing training has never been more important. As 2023 draws to a close, level up during Inman with advice from top coaches, training resources, and more. Coaching and Training Month in October.
The landscape of the real estate business is constantly evolving.aAccording to the Urban Land Institute’s Emerging Trends in Real Estate 2023, agility and adaptability in leadership are more important than ever. Published in October 2022, the report highlights the importance of leaders who can foster a culture of continuous learning and improvement within their teams.
10 principles for growing your real estate team
The following principles are practical and applicable, gleaned from years of practical experience in a variety of real estate markets and models.
1. Lead by example
Leadership by example is the foundation of effective team management. This exemplary leadership principle represents a dedication that fosters loyalty and respect among employees.
In the competitive field of luxury real estate, demonstrating a strong work ethic, dedication, and respect for all stakeholders creates a ripple effect. This fosters a culture where team members strive to reflect these traits in their interactions with clients and with each other. This principle goes beyond mere words. It’s about embodying the values you champion, thereby creating a living blueprint for others to follow.
2. Exude positivity
A leader’s attitude has a huge impact on team morale and the overall work environment. Through sales coaching and team consulting, I realized that a leader’s positive attitude lifts the mood of the entire team.
Even in difficult times, it is important to maintain a positive outlook. It’s about seeing the silver linings and focusing on solutions rather than problems. This approach keeps team morale high and encourages a problem-solving mindset.
Being a positive force within your company promotes a culture of optimism and resilience, helping you overcome the hurdles inherent in the real estate sector.
3. Practice fairness
Fairness is a foundational value that fosters trust and respect within a team. In my role as an advisor, I have emphasized the importance of fairness in all interactions, whether evaluating accomplishments or addressing shortcomings.
A fair leader ensures that everyone’s contributions are valued and that rewards and recognition are given based on merit.
We also need to provide equal opportunities for growth and advancement to all team members. Fair behavior demonstrates that each team member is a valued member of the organization and fosters an environment conducive to growth and mutual respect.
4. Listen and ask
Effective leadership goes beyond telling people what to do. It includes being a good listener. During my time in recruiting and sales coaching, I learned that understanding my team’s concerns, ideas, and feedback is invaluable. Gathering insights from your team is essential before delving into new projects or making important decisions.
Asking penetrating questions and listening carefully to the answers often reveals unexpected perspectives. This practice not only enriches decision-making but also fosters a culture where team members feel valued and heard.
5. Clarity of communication
Clear communication is the cornerstone of effective team management. Clarifying your expectations, goals, and vision for your team eliminates ambiguity and provides a clear path forward. In my experience, a well-informed team is a motivated and productive team.
Encouraging open communication also invites questions, suggestions, and feedback. These are important for continuous improvement and innovation. It’s about creating two-way communication channels that enhance collective efforts toward achieving organizational goals through clarity and openness.
6. Live with integrity
Honesty is a virtue that extends beyond the professional realm and into the personal realm. As a leader, your actions in and out of the workplace are under scrutiny. Living an honest life develops a reputation for integrity, which leads to authentic leadership.
In my journey so far, I have found that honesty fosters trust and a culture of openness. When your team knows you stand for truth and integrity, they’re more likely to reflect these values in their interactions within and outside of your organization.
Additionally, honestly admitting mistakes and learning from them fosters a culture of continuous learning and improvement.
7. Never stop growing.
The real estate landscape is constantly evolving, with new trends, technologies, and regulations continually emerging. As a leadership consultant, I advocate for a culture of lifelong learning to help individuals and teams stay abreast of industry changes.
Continuous learning can take many forms, such as reading industry publications, attending workshops, and participating in online courses. By fostering a learning environment, you not only increase your team’s capabilities, but also instill a mindset of adaptability and innovation.
As President Kennedy aptly stated, “Leadership and learning are essential to each other”
8. Seek continuous improvement
Complacency is a pitfall that hinders growth and success.throughout my experience In the field of real estate brokerage and consulting, I have always sought better ways to enhance processes, provide value to clients, and improve team performance.
Encouraging your team to challenge the status quo, suggest improvements, and embrace new ideas fosters a culture of continuous improvement. It’s about creating a positive environment where the quest for improvement is a collective effort, driving teams and organizations toward achieving excellence.
9. Embrace the evolution of technology
The speed of technological advancement is reshaping the real estate industry, providing unprecedented tools to increase efficiency, customer engagement, and competitive advantage.
As a leader, be open and Embrace the evolution of technology It is important. It’s about being forward-thinking and creating a culture where teams are encouraged to leverage new technology to solve problems and improve processes.
A positive attitude towards technological change resonates with younger generations of employees and fosters an environment of innovation and modernization.
10. Prepare for your team
Leadership often requires stepping up when the situation calls for it and providing leadership for the team. Whether you’re dealing with a difficult client, dealing with an unexpected problem, or simply being there to support your team during a difficult time, your willingness to take initiative will strengthen your dedication and unity. emphasize.
This attitude of being ready to jump into the trenches fosters a sense of unity and motivates the team to go the extra mile. This sends a powerful message that in your pursuit of success, you are not just a bystander, but an active participant in facing challenges and celebrating victories together.
build a legacy of success
Creating a culture of success, motivation, and growth is an ongoing effort. It’s about showing up every day ready to inspire, guide, and celebrate every milestone, no matter how small. The coaching philosophy is to develop a collective ambition to achieve remarkable success, one deal at a time, one client at a time, and one winning moment at a time.
Chris PollingerFounder and Managing Partner of RE Lux Leaders, who whispers profits to the leading elite of the luxury real estate business. He is a national speaker, consultant, and leadership coach. Learn more about his broker, manager and team leader development programs below. RELuxeLeaders.com