In June of this year, Inman’s editorial theme Commands – we’re going to detail what it takes to grow your team in this intense seller market. And if you haven’t signed up for our Teams Beat email newsletter every Thursday, Register now…
The US real estate boom will continue in 2021. This means that many teams explosion with new agents… If you are looking to expand your team or brokerage firm, you might be wondering: What’s the # 1 way to be successful?
Most people will make you believe it’s about getting new ones. leading technologies… But the truth is, new technology isn’t even a hallmark: all the top teams in the US can buy the same systems and upgrades year after year. Real team builders need to think about something else entirely – leadership.
You need good guidance to create an environment that ensures the highest levels of productivity for everyone in your organization. If you’re thinking about scaling your team, here are four strategies to learn and master as your business grows.
1. Study human psychology.
Human motivational psychology tells us that after health and safety, our next biggest need is to find a sense of belonging. Teams that really thrive in the USA know how to develop sentiment affiliation and community…
How can you provide this to your agents? You can start by getting to know each team member and figuring out what will motivate them to achieve their goals. In this industry, we are taught that using infinite metrics and defining KPIs for agents will help measure and ultimately scale success.
But if you don’t understand your agents as people, you will never see their productivity and efficiency skyrocket. Many leaders in this industry are taught to use aggression, but most team members don’t respond well in the long run.
People are much more motivated by connection and community. what their intrinsic motivation? What makes them work? Where do they get energy and satisfaction? In our offices, we have hired an agent success coach to re-emphasize how much we care about our agents and find ways to help them succeed.
2. Create a culture of self-accountability.
Real estate is hard work. These are sales. It’s stressful. This is why it is so important to create a culture of self-responsibility… One way to do this in our culture is to have accountability meetings every morning, mostly agent-oriented.
In this meeting, everyone says, “This is what I intend to do in the next 24 hours.” The next day we ask, “Have you fulfilled your commitment?” Everyone should come to the table and say yes or no. If the answer is “No,” we ask, “What’s stopping you?”
It may sound strange or silly, but it is one of the best things we have ever implemented. If you have enough of these meetings, eventually big problems will start to resolve on their own. It also creates some healthy competitive tension among the team members.
It was a watershed moment for me when I realized that in the end, success is just one person making a choice. You must create a culture in which people understand that they are responsible for their success or failure. We just can’t do it for them. If you don’t do what you have to, I won’t yell at you. I’m going to ask, “What’s stopping you?”
3. Create a culture of acceptance.
It is also extremely important to suggest some regular recognition form in a team environment. In some cases, people value recognition even more than money. It goes back to the sense of belonging that we all need.
Every month in our offices we play the business of sales through competitions. Our award is humorous, but no kidding: it’s the Big Fake WWE Champion Belt, given to the top producer and top team every month.
It’s fun and also creates some competition. When our agents win it, they leave it on their desk for a month, and we broadcast it’s on social networks… It’s something very simple, but it goes a long way and even encourages more teamwork.
I think sometimes, as leaders, we wonder why we should respect employees just for doing their job: but recognition is incredibly important and shows that you have a stake in everyone’s success. You pay attention. It’s a simple and easy way to show gratitude – and it is a game changer if you want to be a good leader.
I recognize my agents all the time. I think social media is the best vehicle for this because the world sees it, especially their friends and family. This is where so many team leaders often fail to become leaders – they don’t glorify or recognize their people enough.
4. Study leadership actively.
Many team leaders struggle when they grow rapidly. They didn’t invest and thought about how to become a good leader.
You can’t just put bodies on the seats and throw leashes at them. You will fall into the ceiling. You will have problems. Learning to lead is a skill that you should not develop on your instincts, but from others who can offer training and proven best practices.
You are asking your people to invest in themselves and get better, but what are you doing to improve your leadership so that you can improve your people at what they do?
To be a good leader you need to have strong Emotional intellect… And this is not natural for everyone. If you look at the best teams in the country and what they do, they’ve invested a lot of money in leadership.
Three years ago, when I knew that I wanted to dramatically expand my team, I made a choice: hire a leadership coach… Not only is he a legend among real estate agents and many others, he also holds me accountable for my leadership goals.
Our team has grown significantly in recent years and our transactions have grown exponentially. But it wasn’t about the latest CRM software or lead generation systems; it was really about finding ways to get better in leadership from top to bottom.