This April, one of Inman’s most popular recurring theme months returns: Back to Basics. All month, real estate professionals from across the country share what’s working for them, how they’ve evolved their systems and tools, and where they’re investing personally and professionally to drive growth in 2022. It’s always smart to go Back to Basics with Inman.
What may have worked for you and your brokerage for years has likely changed forever over the course of the past couple of years as we saw record-breaking market numbers and increased complexity across brokerage operations. It’s not surprising that the shift in dynamics plays a large role in brokerages all over the country.
Coming around from recent shifts, what lessons have you learned? Has your brokerage seen increasing success in all areas or is its growth being stunted by the many moving factors of our “new reality”? What else can we do as leaders to help propel the brokerage’s success while keeping everyone motivated and performing?
Now is a good time to be asking yourself these questions and evaluating your leadership strength on all levels.
Start from a strong foundation
As a brokerage leader, you are faced with managing the many aspects of your organization. With frequently moving parts, it’s easy to get wrapped in quick, short-term solutions to issues with longevity. But when that foundation starts to crack, and you continuously fall into reactionary mode, you’re faced with the task of creating a more sustainable solution that will avoid the problem arising again in the future.
What hasn’t worked for you in your brokerage in the past six to nine months? What problems have arisen time and time again that are “eating up” your time?
Start by reflecting on the processes no longer serving you and focusing on rebuilding a strong foundation that will support the sustainable success you’re looking for.
Cast a clear vision
A strong brokerage needs a vision that clearly outlines the overarching goal or direction for the business. As a leader, every decision that you make over time, as small as it may seem, will have an impact and will either move the needle of your brokerage toward or away from that vision.
Is your vision clear and easily defined? If you are unsure of your vision, how are you able to effectively communicate expectations and a common goal to your agents and employees? Getting clear on your vision is the basis of growth for your brokerage to flourish, and it allows agents and staff to have a defined direction that is in alignment with all aspects of the brokerage.
In the end, you will have built a strong foundation that puts the vision at the forefront of all decision-making, which in turn creates consistency along the way.
Employ an empathetic leadership style
With ongoing changes in the marketplace and regulatory environment, among a multitude of other factors, your agents’ and support staff’s needs and interactions are constantly changing as well. Coming from a place of empathy and letting agents and staff know they can count on you as a leader is vital to the well-being of your brokerage.
Offering support and solutions not only to agents, but also to your staff members, who tirelessly support the agents in a fast-paced market, builds trust, credibility and ultimately addresses costly turnover rates. Being considerate of their needs, time and resources will help bridge the gap and make your overall operations run more smoothly.
Perhaps now more than ever leadership matters, and taking a close look at ways to fine-tune your brokerage operations can yield tremendous results. By reflecting on past mistakes or triumphs, leading with empathy and understanding, and articulating a clear vision based on a strong foundation, you will reach new heights in your success as a brokerage leader.