Whether you are already a real estate team leader or interested in becoming one, it takes some time to figure out the role. Real estate teams look to their leaders to guide them through change.
Therefore, as a team leader you face constant pressure, not only during normal times, but during extraordinary events such as the global pandemic. By acting as a mentor, focusing on revenue generation and adopting a spirit of servant leadership, you can help your entire team become profitable and act as a well-oiled machine.
Prepare to step outside your comfort zone, because zero change equals stagnation. You will learn that leading your team requires you to also have incredible self-discipline and look outside your own interest for the good of the entire business. This includes finding technology that improves communication and productivity for your organization. Here’s what you need to know about being an excellent real estate team leader.
What does a team leader do?
The team leader acts as the heart of the organization. Instead of remaining at the top of the organization, you should strive to remain in the center of all activities and roles. That doesn't imply that you shouldn't delegate to others. Instead, it involves making yourself as accessible as possible while trusting everyone to fulfill their duties.
During the course of the day, you act as a mentor to new agents and less seasoned real estate professionals. It's important to set up systems that work for your team, such as a robust recruiting and hiring process and performance management protocols. Typically, the team leader handles most of the listings. However, some teams encourage all agents to work leads to secure the maximum number of listings.
While a team leader is often the rainmaker, it's also important for them to take part in many other roles, such as training, consulting and client management. You also participate in negotiating deals, lead generation and conversion, and setting other agents up to close deals.
Ultimately, if you love coaching, you'll love being a real estate team leader. In order to make the business scalable, it's important to share knowledge and experience with those in the trenches. Here are some tips for building a world-class real estate team.
You may wonder what the difference is between a real estate broker and a real estate team leader. A real estate broker has passed specific exams and holds a broker’s license. Team leaders can be either agents or brokers. However, at least one member of the team will have to have a broker’s license in order to engage in real estate activities.
Qualities of a real estate team leader
Real estate team leaders need both hard and soft skills in order to successfully run real estate teams. As well as having extensive industry experience, an ability to negotiate with sellers and buyers, and manage people, you'll also need soft skills, including the ability to communicate effectively and drive agent adoption of productive brokerage technology.
At the heart of the position, a team leader acts as a mentor and coach. So, if you like to help people succeed and take part in their success, this is a great role for you. You also need the ability to communicate to agents, prospects, customers and other real estate professionals. Part of this involves knowing what tools to adopt to help your team remain productive and respond quickly to warm and hot leads.
As a leader, it's important to set realistic goals and inspire rather than threaten your team to meet them.
If you are a positive and empathetic person, you will do well as a real estate team leader. In a competitive field with uncertain economic conditions, real estate teams look to leaders for signs that everything will work out in the end. In fact, it's more important to remain positive when things aren't going well than when homes are flying off the lots.
Real estate team leaders master the art of influencing others. If you don't believe in your agents, administrative assistants and other team members, how will they believe in each other and themselves? It's important to influence others to recognize both your authority and their own self-worth. This is a tricky trait to master.
Finally, be thorough and systematic. Like many of the other characteristics in this section, this is a skill that you can develop. In order to lead a successful real estate team, you need to translate your own success into actionable tips agents can use to sell homes and produce lucrative listings.
How does a real estate team benefit from having a team leader?
Your role as a team leader starts with convincing others to join the team. A leader is only as good as their team, so it’s important to
A real estate team leader shows other members the value of being part of a team. By sharing resources and supporting one another, the team can produce more revenue and sell more homes. By collaborating with others, team members can develop skills that they don't currently have.
Additionally, team leaders drive brokerage technology. It's important to make sure that all members of the team understand the value of digital tools in enhancing business prospects.
Final Thoughts
What is the secret of building a successful real estate team? By adopting a humble spirit and leading by example, real estate team leaders can push everyone else to do their best. To make things easier, Shaker has developed real estate software for teams. Take advantage of the platform's task assignment tools and communication tools to make more money for everyone.
Contact us if you would like to schedule a demo to help your team unleash the power of digital tools to stay on top of their game!
