The game has changed in many ways, and your leadership goal should change with it. Marion Weiler advises you to meet the new needs of your agents and employees.
In April, one of Inman’s most popular recurring theme months returns: Back to Basics. Throughout the 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 a good idea to go back to basics with Dans homme.
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What may have worked for you and your brokerage for years has likely changed forever over the past two years as we have seen record market numbers and increased complexity in brokerage operations. It’s no surprise that changing dynamics are playing a big role in brokerages across the country.
Following recent changes, what lessons have you learned? Has your brokerage been growing in success across the board, or is its growth being held back by the many shifting factors of our “new reality”? What else can we do as leaders to help propel the success of the brokerage while keeping everyone motivated and performing?
Now is a good time to ask yourself these questions and assess your leadership strength at all levels.
Start from a solid base
As a brokerage leader, you are challenged with managing many aspects of your organization. With frequently moving parts, it’s easy to get carried away with quick, short-term fixes to longevity issues. But when that foundation begins to crack and you continually fall into reactionary mode, you are faced with the task of creating a more lasting solution that will prevent the problem from happening again in the future.
What hasn’t worked for you in your brokerage over the past six to nine months? What problems have come up over and over again that “chew up” your time?
Start by reflecting on the processes that no longer serve you and focus on rebuilding a solid foundation that will support the lasting success you seek.
Have a clear vision
A strong brokerage needs a vision that clearly defines the overall goal or direction of the business. As a leader, every decision you make over time, no matter how small, will have an impact and move your brokerage needle towards or away from this vision.
Is your vision clear and easily defined? If you are unsure of your vision, how can you effectively communicate expectations and a common goal to your agents and employees? Being clear on your vision is the foundation for growing your brokerage to thrive, and it allows agents and staff to have a defined direction that aligns with all aspects of the brokerage.
Ultimately, you’ll have built a solid foundation that puts vision at the forefront of all decision-making, which in turn creates consistency along the way.
Adopt an empathetic leadership style
With the continuous changes in the market and regulatory environment, among a multitude of other factors, the needs and interactions of your agents and support staff are also constantly changing. Coming from a place of empathy and letting agents and staff know that they can count on you as a leader is essential to the well-being of your brokerage.
Provide support and solutions not only to agents, but also to your staff members, who tirelessly support agents in a rapidly changing market, build trust, credibility and ultimately solve turnover rates expensive. Considering their needs, time, and resources will help bridge the gap and make your overall operations run more smoothly.
Now perhaps more than ever, leadership matters, and taking a hard 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 solid foundation, you will reach new heights in your success as a brokerage leader.
Marion Weiler is a senior business management executive, leadership and business consultant and president of Weiler International LLC, advising brokerage management teams and real estate professionals in times of business growth as well as in times of crisis. Connect with Marion on Linkedin.