In these uncertain times, it is more important than ever for leaders in the real estate industry to step up and guide their teams through the challenges ahead. As president of Broward, Palm Beaches & St. Lucie REALTORS® and BeachesMLS, I have witnessed firsthand how issues facing our industry have collectively affected us. I want to share some insights on how we can continue to grow as leaders during these unprecedented times.
Adaptability is key
The first and most essential skill leaders must possess during uncertain times is adaptability. Things are constantly changing in the real estate industry, and it is up to us as leaders to adjust our strategies and plans accordingly. Leaders need to remain calm and think creatively to find solutions. This adaptability will benefit our teams and clients, who are looking to us for guidance during this time. We must think about implementing new strategies and policies that educate REALTORS® as well as benefit consumers.
Buyer value and buyer representation
Explaining the buyer value proposition may be more complex than it once was; moreover, it will be more imperative than ever. True leaders compose a game plan and get into the game rather than sit on the sidelines. We must be ready to itemize the value that Realtors® offer buyers in detail. Speak to buyers with transparency and honesty. Let them know how you plan on taking them across the finish line and follow your conversations with a contractual structure and a buyer-broker agreement.
Communication is crucial
Effective communication is always important in leadership, especially during crossroads. It is crucial for leaders to keep an open line of communication with their team, providing regular updates and addressing any concerns or questions they may have. This will help alleviate anxiety and incertitude among team members and ensure everyone is on the same page. It is also crucial for leaders to communicate openly and honestly with clients, keeping them informed about any changes in processes or procedures.
Talk about the MLS
The MLS holds strong value and can be easily defined as the heartbeat of real estate for consumers looking to buy or sell. There is an acronym in real estate for everything, but the MLS is one that should be explained clearly to consumers. Great leaders effectively communicate and become great storytellers. Consumers need to hear these two truths from the Council of Multiple Listing Services. One is that “The MLS provides the bedrock of information millions of people depend on to make smart real estate decisions.” The second is “The vast majority of home sales happen by real estate brokers and agents working together on the MLS, not because of portals, websites or apps.”
Lead by example
In challenging times, leaders need to lead by example. This means following guidelines, policies, and protocols while displaying a positive attitude and maintaining composure. Our teams look to us for guidance and inspiration, so it is critical that we demonstrate resilience and determination as we change the real estate landscape for the better.
Together, we can weather any storm and come out stronger on the other side. So, let’s remain positive and focused as we navigate these challenging times. By working together, we will undoubtedly emerge from this situation with even greater strength and resilience. Let’s continue to lead our teams with determination and compassion and guide our clients with confidence and expertise.
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