Leadership in real estate

Kerryn Lyes, Published: Wed 23rd Oct, 2019

As your career progresses, you’re likely to face a point when it’s time to start building a team - and that calls for leadership. While the common adage says “leaders are born, not made”, there are still some key principles and methods to keep in mind when it comes to leading a team.

Here are our top 5 leadership tips:

1) Invest in people

Don’t ask how - ask who.

The people in your team will drive your internal culture, and ultimately pave your road to success.

Diversity of thought is an essential driver of any organisation’s success. From the sports team to the local real estate office, and right up to global brands - a diverse team allows each member to play to their strengths while supporting others to work on their weaknesses.

Don’t fall into the trap of hiring four versions of yourself, aim for a range of skill sets and strengths - perhaps a creative person to be your go-to for marketing, someone that has a really good handle on real estate legislation, and someone who’s all about systems and processes that can make the entire team more effective.

2) Set up systems that will scale up

Put as many systems in place as you can before your team starts to grow. From day one, establish a reliable technology stack that’ll scale up with you as your business grows.

Remember to check in with this regularly. Where are the bottlenecks in your business? Where do things get stuck? Avoid following certain processes for the sake of it and check that each tool you use is genuinely making your day better in some way.

3) Try cognitive reframing

As a general rule, people respond to positive reinforcement and recognition for a job well done. Cognitive reframing or ‘optimistic thinking’ is a quick way to turn a negative sentence into something more positive.

Instead of saying “Don’t forget to follow up with all the open home attendees” say “Let’s follow up with all our hot leads today”. This not only puts things in a positive light but by identifying the leads as ‘hot’ you’re also hinting at a high chance of success.

Quick Tip You can apply cognitive reframing to your marketing communications too. Instead of ending your property ad with something like “Act fast, or miss out.” Reiterate the benefits of the property in question with something like this: “Nestled in stunning native bush, just minutes from town, this home is a must-see”.

4) Authenticity is key

Authenticity happens when an organisation states its values and then actually lives them.

A big part of acting with authenticity is following through. Put simply, do what you say you’re going to do - your team will respect you for it. If you want a high-performance culture - live in your values. Lead your team with authenticity, share the wins, and motivate them through the losses.

5) Drive your team towards a common goal

As a leader, it falls on your shoulders to steer your team and provide support when things get tough. Plans will rise and fall based on employee buy-in. It’s one thing to have a vision for your future, but if you can’t get the team on board, it’ll be almost impossible to make change happen.

"Even in an organization that's doing something big and bold, there's the mundane, day-to-day execution work of keeping it going. But people need to stay connected to the boldness, to the vision and stay plugged into the main vein of the dream." Peter Diamandis

Real estate often attracts ambitious people with big plans, audacious goals, and a hunger for recognition. And, as with any industry, those that work hard, but also work smart, are destined for success. What are you waiting for?

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