Leadership author John Maxwell wrote, “Change is inevitable. Growth is optional.” And when real estate markets shift, it provides a massive opportunity for leaders.
After spending a decade or two (or three) in this business, you already know that change is an inherent aspect of real estate markets. However, when we are in the middle of a booming housing market, we forget how swiftly things can shift.
The rapid rise in mortgage rates sidelined many potential homebuyers. Home builders saw an onslaught of contract cancellations from customers who would no longer qualify because of the rate increases.
This is a time when real estate agents and teams look for guidance on how to react and what to do. Here are three ways leaders can help agents and teams adjust and adapt to any significant market shift:
- Set the tone from the top. If your managers, agents and teams perceive that you’re confused about what to do next, they will respond similarly. Because what happens at the top of any organization can have a direct—and lasting—impact on everyone.
As a brokerage leader, turning lemons into lemonade is what you do best, so now is the time to double down on all your efforts. You already have the tech toolbox with the items your people need. It’s time to put your tech investments to work for your agents and teams—now more than ever.
Your focus should be on growth and taking market share. It is not time to pull back. You do that, and you’ll see many agents putting their heads in the sand. Keep spirits high by demonstrating how laser-focused you are on helping them soar.
- Stay connected. During COVID, many leaders discovered the power of virtual team meetings. It’s always been tough to get agents and teams to show up for a weekly meeting, but when the COVID chaos erupted, they showed up to virtual meetings in droves, looking for answers.
Connecting directly with your people—in person and virtually—is crucial when the pace of change is quickening. Are you doing daily office visits? Are you picking up the phone or texting to connect with agents and teams? If not, you should be.
Hearing what leadership is thinking is great, but seeing what leaders are doing is even better.
- Push harder. The marvel of tech today is that you can track everything. It may seem obvious, but you need to push harder by doing more of what works and eliminating what doesn’t.
And ask your tech partners for help. What can they do to help you grow? Good partners will provide the support you need and help your people do more.
Shifting markets are for the strong. By giving your people the proper support, now can be a time for growth.
For more information, visit https://www.deltamediagroup.com/.
