As the real estate market continues to change and becomes more competitive, the number of real estate teams continues to rise. For those who have already started a team or are thinking of doing so, the opportunities are greater than ever. Leading a team can maximize your earnings, increase your work-life balance and help you build a legacy business.
It’s not enough for a team leader to be great at sales. They also need to have a well-thought-out business plan and stellar organizational and communication skills. They must provide the tools, education and opportunities that will allow their team members the greatest chance to succeed.
- Define Your Vision for Your Team
Before you can lead a team, you need to know what you want your team to accomplish and who you need to help you achieve that goal. Understanding your own strengths — and what you may need assistance with — is critical to the process. Ideally, you want members whose skills will complement your set. Take time to really interview possible team additions and have them do a personality assessment so that you get a better sense of how they would fit into the team.
- Systemize for Maximum Productivity
It is essential that you systemize your business operations to create maximum productivity. A reliable customer relationship management system (CRM) designed for teams will allow you to easily organize the management and performance of your team and get instant feedback on how their leads are converting.
- Emphasize a Commitment to Skill Building
If you are a team leader, most likely your skills are sharp. But the world of real estate is changing rapidly. Make sure your skills are up-to-date and that you always strive to keep learning new and improved ways.
Set an example for your team by always honing your skills. Don’t be afraid to try new things out of your comfort zone and encourage your team to do so as well.
Offer opportunities for continual training and coaching. Consider this for yourself as well. The world of real estate is changing so fast. Only those who adapt and stay current will thrive. Lean into support from experienced coaches or mentors to help you keep growing.
- Manage — Don’t Micromanage
Most people initially join a team because of a basic need to earn a paycheck. They stay because they are inspired and empowered to make a contribution to a significant team effort.
Prioritize communication with your team. They should all know exactly what the team mission is as well as what is expected from them.
Be accountable to yourself and your team. Manage but don’t micromanage. Treat your team with respect and allow them the opportunity to make mistakes, ask for support and achieve growth. As the saying goes, “Praise in public but correct in private.”
Are you ready to scale your business to greater heights? We’ve got you! Sign up for Buffini & Company’s Leadership Conference to be held Sept. 7 – 8 in Austin, Texas. You’ll learn powerful strategies from some of the industry’s most revered legends on how to grow your leadership skills and build your legacy business.
