A Blueprint to Building a Stellar Real Estate Team

May 31, 2024

It’s time to grow. Imagine a team where every member is aligned with clear expectations, shared values, and a collective commitment to growth. This is not just a dream but a tangible reality you can create by setting the right foundations for your real estate team. Let’s explore five essential strategies to foster a high-performing team culture: setting clear norms and expectations, aligning values for cohesive growth, celebrating successes, expecting the best from yourself, and continuously improving and growing.

1. Set Clear Norms and Expectations

First things first. It is crucial to establish clear norms and expectations before the ball gets rolling. This foundational step ensures that every new and onboarded team member is aligned with the team’s objectives, working methodologies, communication norms, and expectations for performance.

Written and clear standard operating procedures (SOPs) should be created and readily accessible by the team. This ensures a resource when you aren’t available for questions, but also solidifies processes and expectations. Use a tool like Scribe to help craft SOPs as you work through your daily tasks. They will come in handy when training or onboarding new team members, VAs, and Transaction Managers.

Imagine a day when the team gathers for a morning huddle, a practice embedded in the team’s norms. Here, each member shares their priorities for the day, any potential challenges, and how they plan to address them. This ritual not only fosters transparency but also encourages accountability, support, and learning opportunities among team members.

Group huddles are important but some of the most valuable time you can spend with your team is with a regular ongoing 1:1 where they can get individualized help, surface any issues they may be struggling with, and give and get feedback. More times than not, Realtors join teams to grow their skills and improve their performance. Give them this gift. It will pay dividends in loyalty and continued success.

Whatever cadence works for you and your team is up to you. Teams in growth mode and/or agents learning new skills may require more time and attention. But whatever you decide collectively should be protected. Do your best to protect the time spent with your team.

2. Aligning Values for Cohesive Growth

A team’s strength is amplified by its shared values. Aligning individual values with those of the team creates a unified direction and purpose, essential for navigating the competitive real estate landscape.

A team’s values should come from the team. Having an open discussion about what is important in what the team does, how it accomplishes the team goals, how to work together, and how to serve the client will derive the values on which you can base your culture going forward.

Consider a team that values integrity, innovation, and client satisfaction. These values are reflected in their daily interactions, from how they conduct client consultations to the meticulous care with which they handle market valuations and client follow-up.

Continuously recognizing the team for being a culture carrier, or exemplifying the values during their daily actions is an excellent way to bring the values they put into place to the forefront, reminding them of the mission regularly and that they are part of something bigger than themselves.

Team Values also come in handy when considering new team members. It ensures the team remains a cohesive unit and sets the standard for the type of new team members should be brought on to the team. An individual may be a rockstar with a lot of promise, but if they don’t align with the team, it could be a big mistake.

3. Celebrate Success

Recognize and celebrate success both big and small. This is vital for maintaining high morale and motivation. Celebrating achievements reinforces positive behaviors and outcomes, encouraging team members to strive for excellence.

For example, after closing a particularly challenging sale, the team organizes a small celebration, acknowledging the efforts of all those involved. This not only boosts morale but also reinforces the team’s collaborative spirit, highlighting the importance of each member’s contribution to the team’s success.

Not every success will require a party. Recognition is always welcome, whether done in a meeting or privately. Both are effective.

4. Expect the Best from Yourself

Being an effective team leader goes beyond managing tasks; it’s about embodying the principles and values you want your team to adopt. Start by setting a strong example for your team. Openly share who you are, including your core values, strengths, and areas for improvement. By doing this, you establish a foundation of transparency and trust. Your team will better understand your expectations and how they can align their efforts to help the team thrive. This transparency builds trust, which in turn fosters rapport and motivates everyone to contribute their best.

Imagine you’re the leader of a real estate team. You have a meeting scheduled to discuss the upcoming quarter’s goals. Instead of diving straight into the agenda, you take a few moments to share a personal story that reflects your commitment to continuous improvement. You talk about a recent professional development course you took to enhance your negotiation skills, and you candidly share the challenges you faced and how you overcame them.

This vulnerability sets a powerful example. Your team sees that you are dedicated to growing, which encourages them to adopt a similar mindset. They realize that striving for excellence and embracing learning opportunities are valued behaviors within the team.

Fostering an Inclusive Culture

An inclusive culture is vital for ensuring that every team member feels valued and empowered to contribute their best. When you approach leadership and coaching with fairness and impartiality, you create an environment where trust and strong relationships can flourish.

For example, during team meetings, make a conscious effort to invite input from all team members, especially those who might be quieter or less inclined to speak up. By valuing diverse perspectives and encouraging open dialogue, you demonstrate that every voice matters. This inclusive approach not only strengthens the bond between you and your team but also enhances the cohesion and effectiveness of the team as a whole.

In summary, expecting the best from yourself and leading by example sets the standard for your team. By fostering an inclusive culture and demonstrating a commitment to growth and fairness, you build a motivated, cohesive team ready to achieve great results together.

5. Set the Stage for Continuous Improvement & Growth

The real estate market is constantly changing, and your team should evolve alongside it. Implementing mechanisms for feedback, reflection, and continuous improvement is crucial to keeping your team adaptable and competitive.

Quarterly Retreats for Reflection and Goal Setting

Each quarter, organize a team retreat dedicated to reflecting on past performances, celebrating successes, and setting goals for the upcoming period. This retreat provides a platform for open and constructive feedback, where every team member can share their insights on what worked well and identify areas for improvement. This collective reflection fosters a culture of continuous growth and learning.

Individual Goal Sharing and Strategy Development

Encourage team members to share their individual goals and collaboratively develop strategies to achieve them. By participating in learning opportunities, certifications, and training sessions, your team can enhance their performance and expand their skill set. Supporting your team’s professional development not only benefits them individually but also strengthens the team as a whole.

Providing Stretch Opportunities and Leveraging Individual Skills

Consider offering more responsibility or stretch opportunities to team members who are interested in contributing beyond their usual production roles. Lean into their interests and unique skills to benefit the team. For instance, if a team member has a knack for social media marketing, allow them to lead a campaign. However, ensure that these additional responsibilities do not overburden them or exploit their time.

Fostering a Culture of Growth

Imagine your team has just completed a busy quarter. During the quarterly retreat, you create an environment where everyone feels comfortable sharing their experiences. One team member highlights a successful marketing strategy they implemented, while another discusses challenges faced during client negotiations. Through open dialogue, the team identifies best practices and areas for improvement.

Next, each member shares their personal goals. One agent aims to improve their digital marketing skills, while another wants to enhance their client communication techniques. You suggest relevant training programs and certifications, offering support and encouragement.

Additionally, you identify team members who show potential in leadership and offer them opportunities to take on new responsibilities, such as leading a project or mentoring junior agents. By aligning these opportunities with their interests and skills, you ensure they are motivated and engaged.

Cultivating a High-Performing Real Estate Team

Building a high-performing real estate team requires intentionality and commitment to foundational principles. By setting clear norms and expectations, you establish a solid framework for team members to understand their roles and responsibilities. Aligning values fosters a cohesive and unified direction, enhancing teamwork and purpose. Celebrating successes, both big and small, boosts morale and reinforces positive behaviors, creating a culture of appreciation and motivation.

Leading by example and expecting the best from yourself sets a standard for the team to emulate. Your transparency and commitment to growth inspire your team to strive for excellence and embrace learning opportunities. Finally, fostering a culture of continuous improvement ensures that your team remains adaptable and competitive in the ever-evolving real estate market.

Together, these strategies create an environment where trust, support, and mutual respect flourish, driving your team to achieve remarkable results. By investing in these foundational aspects, you build a resilient, motivated, and high-performing team ready to navigate the challenges and opportunities of the real estate industry.