Successful teams in real estate have one essential distinction: leadership. Real estate leaders tend to focus on opportunities rather than excuses. When one door closes, a successful leader can direct others towards a new focus.
What Makes a Good Leader in the Real Estate Industry?
Real estate leaders are masters of three main skills. These are paramount and cornerstone to the business:
- Lead Generation. They are wise in their knowledge of different techniques to generate leads. They understand that lead generation is critical to the business and always push their team to have something in the pipeline.
- Creating Listing Appointments. If you’re wondering how real estate teams work, you should consider that listings are the lifeblood of any successful team. Having properties to market also increases your team’s visibility for sales.
- Negotiating Contracts. An experienced real estate team leader has been through several contract negotiations and knows how to read a situation and what to ask for in any given scenario.
Characteristics of a Successful Real Estate Leader
There are several characteristics that real estate leaders share. These are a combination of natural talents, learned behaviors, and productive habits that have formed over time.
A successful leader builds their reputation through their expressed passion. Having a passion and drive for what you do will naturally attract similar mindsets and personalities. The result is a team filled with people that love what they do.
Having the trust of your team, community, and other agencies is another characteristic that can’t be overlooked. Real estate leaders have a reputation that is beyond repute—— if they put their name to something it will always see follow through and can be trusted.
Hand in hand with passion, real estate leaders should move to inspire those around them. Whether it’s a client looking at the place they will start their family, or their team looking for the drive in how to market additional leads, inspiring those around you is a core responsibility of a real estate team leader.
Team leaders also have principles when it comes to the business. It’s not just about the sale, but there is a commitment to doing right by the client and all parties involved. Doing the right thing defines a person, and you want to make sure that those around you believe you carry the highest principles.
How to Start and Build a Real Estate Team for Success
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Real estate teams get their start in talent and networking. Having a strong foundation in lead generation, a steady stream of listing appointments, and strong negotiation are great characteristics for a real estate team leader, but the drive of their team is also critical to the recipe of success.
Attracting established agents can help your team build momentum quickly. The prior associations and relationships agents have formed can open doors as you look towards different marketing and recruiting efforts.
A strong recruiting presence will help your team grow as real estate tends to be composed of people who are hungry for results. Real estate leaders know how to direct their teams to different opportunities that can feed their drive and passion in the industry.
Standing Out as a Leader in Your Local Real Estate Market
Successful real estate leaders provide opportunities for their team, act as a mentor to new agents, are a resource and advocate for experienced team members. When a leader performs these tasks, they enable their team to be successful, resulting in a domino effect.
As a result, when new agents or prospective clients drive around town and see your office’s signs displayed, you have truly achieved your goal of standing out as a leader in your local real estate market.
When creating a team as a real estate team leader, focus on living up to the expectation that you want for yourself. Do you want your team to talk about your passion, commitment, and experience? Then you should be vigilant to build this reputation. Because real estate is a people-first business, the way others view you directly affects you and your team’s success. If another team has the opportunity to work with yours, will they hesitate or be excited to partner with passionate people on a deal?
Likewise, your principles will always play an important place in your relationships with others. If a client and their family entrust you with their largest form of personal wealth, and you do right by them, they will be a repeat customer for life. They will become a raving fan that tells everyone in their personal sphere about how you worked in their best interest.
Setting Yourself Apart as a Leader in the Real Estate Space Overall
Real estate leaders set an example for others to follow. As a result, their experience speaks for itself when it comes to the real estate industry. While leaders trailblaze by example and clear a path for others to follow, managers operate according to a set of functions. This is why we strongly advocate leading rather than using the term managing—because you can’t manage a team to success, but you can lead them!
If you’re struggling with how to build a real estate team, we offer a number of resources that can aid you in your endeavor. For example, our programs operate on different levels, with growing your team having its own focus. We also offer structured training sessions, combined with a vibrant community, that can aid you in creating a successful real estate team. If you’re looking to start a team and would like some direct guidance, we’d love to schedule a free consultation with you.