How to lead your Real Estate team to success
Successful team leaders aren’t born- they are made. Leading your real estate team may not come naturally to you, and that’s okay. Learning how to lead your team can be lengthy, with successes and much more learning along the way.
One of the most important aspects of being an effective team leader is having the humility to learn and grow in your role as your agents evolve into theirs.
Here are the top 5 most effective ways to lead your team to success:
1. Lead your team by example
Demonstrate your practical leadership skills by leading by example. Maintaining a motivated and organized approach to manage your real estate team is essential. Your experience, communication skills, goal-setting abilities and mentoring are crucial qualities that agents look for in a team leader.
You are much more than the person in charge. You are also your team’s coach. Here’s the best way to coach them:
- Help them identify their goals and motivate them to achieve them
- Help them create better business and marketing plans
- Regularly review their progress against plans
- Identify their weak points and provide opportunities for training to them
If you feel stuck and want to eliminate all the negativity, get on a strategy call with me for FREE.
2.Build an effective Lead generation strategy for your real estate team
Did you know that 53% of realtors spend at least half their budget on generating leads highlighting its importance. A stable and successful strategy for generating leads for realtors helps them succeed despite the fierce market competition, changing consumer demands and evolving technology trends.
Mark Douglas, a Digital marketing specialist at The Mental Marketer, says, “Lead generation is the lifeblood of realtors.”
Mark talks about boosting lead generation at the No Limits Selling podcast here.
Here are the Top 5 ways to generate leads for realtors in 2023:
- Effective use of social media to generate leads
- Converting cold calls to clients
- Fearless prospecting to grow your business
- Face-to-face networking
- Creating emails that get you clients
If you want to read more about these techniques, read the full article about the Top 5 ways to generate leads for realtors in 2023.
3. Be flexible in your mindset
A flexible approach toward each agent’s working style can maintain a motivating and thriving team environment. While it’s essential to have cohesive goals within your group, it’s also important to recognize the individuality and diversity within your team.
Dave Dubbin, Senior Vice President - Sales at Sotheby's International Realty, said, “It’s important to focus on the diversity and continuous improvement of the team. Ending up as the Number 1 team will be a by-product”.
One of the most challenging things real estate team leaders struggle with is the anxiety that gets in the way of their performance. What you can control is your attitude during these difficult times. But that is easier said than done. So we’ve got an Audiobook for you that's going to show you how to let go of your anxiety so you can get a stronger mindset
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4.Set practical goals and a compelling vision for your team
"It's essential to have goals that are so inspiring that you never consider giving up."
Success takes time; most people give up along the way. Start by setting a set of goals for yourself and your team. Successful team leaders stick to these goals and motivate themselves and the team.
It will help if you introduce new foundations into your organization to grow your team's results, such as coaching or training programs. Establish your team goals early on if you want to triple sales for the year or double leads for the quarter.
Communicate these benchmarks clearly to your real estate team so that every agent knows your expectations and their roles in achieving them. Once you have set the goals, monitoring individual progress is vital to help the team stay on track.
5. Reward their performance
If you want a happy real estate team, you need more than telling them how great they are. You have got to show them the money or other incentives. Offer flexible work hours, extra vacation, the ability to work from home, and other benefits. A recent Yale study showed that 47% of employees would not trade their flexible work schedules for twice their current pay. Perks like these matter more to some agents than a higher salary.
Remember to boost your team by providing professional development or personal growth opportunities. That might be on-the-job mentoring or training. Or you might offer unlimited access to formal online educational courses to help them in their current role and elevate their overall skill set.
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