Times are changing, there is no denying it. The record-breaking markets we have seen over the last several years are changing, and we knew it would happen, but now what?
Brokers and team leaders are finding themselves in new territory, and the questions are coming a mile a minute. What’s going to happen? What should I do? What does this mean for me? If only we had a crystal ball with all the answers…Actually, we sort of do. Fear not, there are a few fundamental things we can do as leaders to help ensure our teams that our success is not dependent on a “hot” market.
First, plan. If you don’t already have one, get a business plan. As a real estate coach, this is one of the very first items I tackle when taking in a new coaching client. If we are not aware of where we want to go, how can we get there, and moreover, how are we supposed to lead anyone else there? Having a solid business plan is the first step to acquiring that crystal ball—it contains the path to achieve success. We have all lived in a vast world of the unknown for two years, and having a plan greatly eases the tension of the unknown.
After you have a completed plan, share it with the team. Each of your team members should also be completing a business plan for themselves. What are their goals, what do they want, and how is the team going to help them achieve them? Take some time to meet with each team member individually and listen to their wants, needs and concerns. Work with them on their plan. As a leader, business planning with your team is the first step to succeeding in any market.
Next, educate. Now that you have a clear path to follow from your business plan, you need to get the necessary information to move forward down that path successfully. This is the second ingredient needed for our crystal ball construction.
As leaders, we should all be continuing to grow and hone our skills. In any profession, there is a certain set of tools needed, and leadership is no different. Having a coach is a great way to help you expand your knowledge and abilities. As a Workman Success Systems coach, I myself have a coach. This has been instrumental in keeping me and my team moving in the right direction. Having someone who can see my business from a different angle with more expertise and experience has given me the tools to catapult my growth and leadership abilities. Having the tools you need to inspire and motivate your teams will help ensure you all have continued success, no matter what challenges or changes come your way.
You should also be taking time to make sure the team is embracing education, which means incorporating time for learning to help them succeed as part of their plan. Script practice as a team is one of the best opportunities to expand your agents’ abilities. Every script is another tool in the box. Book clubs are another great way to engage the team in intentional growth.
Now, execute. So you have a plan and you’re gaining knowledge, and now it’s time to implement your plan and knowledge—the final building block to complete our crystal ball. Having good habits is the best way to execute what you know. By creating great daily habits, we can ensure that no matter the market, we are capturing our share of it. Homes sell every year; whether it’s a buyer’s market or seller’s market, homes still sell. This is why it is so important to have the basic daily habits of prospecting, follow-up and relationship building. With Workman Success Systems, we lean into a concept called Daily Success Habits, and that’s truly what they are. By completing a certain amount of specific money-making activities every working day, we can almost guarantee forward progress. As a leader, create excitement around these activities and help your team understand that these activities are not busy work or frivolous. If you don’t treat them as such, your team will follow your lead, as they should, so make sure you also understand the importance of these activities, and your team will quickly catch on, too.
Have you grasped the crystal ball? Can you see it? Sorry to disappoint, but the magic is not magic at all. The power of the same fundamentals keeps all businesses moving forward: planning, education and execution. If you have a plan, supply the tools needed for that plan and create habits to complete the plan, how can your team not succeed? If you can clearly see the future spelled out in front of you, so will your team, and that’s how you lead in a changing market.
Trisha Vierzba is a broker and team leader based in the Minneapolis-St. Paul area as well as a Workman Success Systems certified coach. Get free access to some of the very same tools and resources she has used to create success in her clients’ businesses.