According to the National Association of Realtors, 26% of real estate agents belong to teams. This includes several benefits, like enhanced knowledge and skills, more leads, and higher income. Ready to reach another milestone in your career and build your own real estate team? If so, here are four tips on how you can become a successful real estate team leader!
1. Shifting From an Agent Mindset to a CEO Mindset
First, you need to have the right mindset to become an effective real estate team leader. Since you’re taking on a bigger role, you can no longer act like a daring, lone wolf anymore. You now have to consider the interest of the team and the agents under your supervision.
Bring your A-game constantly while also listening to other real estate agents’ insights. Think big, but do not think alone. You’re no longer just working with home buyers or sellers; you’re now the leader of the pack.
2. Being a Natural Coach/Mentor
Being a real estate team leader isn’t all about meeting deadlines and reaching goals. It’s also about mentorship. Assess your agents’ strengths and weaknesses and then develop coaching plans and sessions tailored to each of their needs.
Even someone like Bill Gates was mentored by Warren Buffet, who then helped him make challenging life and business decisions. Don’t focus on simply leading. Instead, help develop future leaders as well.
3. Creating Effective Systems
A successful real estate team follows a well-established system that helps keep the business running even with minimal efforts. When you were still a real estate agent, you might have also developed a system that works for you.
Apply those to the team, and make sure that everything is documented, such as how you handle transactions, gain new leads, or convert them into buyers. Having clear processes within the team will help you achieve better and more consistent results.
4. Nurturing a Culture of Support
Without the right amount of support, your agents may not be able to unleash their full potential and achieve more sales. That is why as a real estate team leader, you should understand how to develop a culture of support.
Stay proactive in fulfilling your agents’ varying needs. Allot a few minutes or hours per week for each team member to meet with you, so you know how you can further help them. Then, encourage a favorable team culture centered on collaboration, healthy competition, trust, and respect.
Final Thoughts
Shifting from being an agent to becoming a real estate team leader can be a challenging and intimidating process. However, if you develop that CEO mindset instead of an agent mindset, strive to be a natural coach or mentor, nurture a culture of support, and create effective systems, you’re not far from growing a real estate team.
Step up your game and start your journey to becoming a successful real estate team leader!
