Diverse Executive Team Meeting in Office Reception Room

8 Essential Traits of Successful Real Estate Teams

Diverse Executive Team Meeting in Office Reception Room

Are you considering giving up some of your autonomy to create or join a real estate team? We understand why. Working as a team enables you to take vacations and turn off your phone periodically to focus on your family. Working as a team allows you to showcase your talents while relying on others to complete tasks that don’t come as naturally to you.

At the same time, we understand why you might be nervous about joining forces with other Realtors, which is why we are sharing the secrets of successful real estate teams.

Successful real estate teams take time to find the right people.

You have to be able to mesh with the people on your team. However, choosing Realtors with similar personalities and skills would be a mistake. You want to ensure that your team is balanced. 

So, as a leader, you need to start by understanding yourself. This may be more difficult than it sounds. You might need to ask your spouse or partner for insights – but don’t shoot the messenger. You could also take some personality assessments to get to know yourself better.

Once you better understand yourself, join forces with other people who complement you. It may take time to find the right people.

Successful real estate teams take time to get to know each other.

Understanding personality traits and preferences can help you work better with your team. 

For example, by using the DISC Assessment, you can learn each person’s profile to help you determine the best way to interact. And the Myers-Briggs Type Indicator will help you understand how your teammates think, feel, and make decisions. 

Understanding each other’s workplace preferences will also help you work better with your team. For example, some team members view meetings as time-wasters, and others want a daily check-in each morning. Understanding these preferences will enable you as a team leader to meet both needs by scheduling a daily virtual meeting with a strict 15-minute time limit. 

Successful teams recognize star performers.

You may be the type of person who feels rewarded with a big, fat commission check. But be aware that public praise and recognition motivate others on your team. 

Successful team leaders offer clear instructions.

You may have obtained your leadership position because you have great instincts, act quickly and decisively, and take risks. You need to understand that your team members are different from you. They may not have your instincts, but they have much to offer if you provide clear expectations and instructions. And you also need to be accessible to answer questions. 

Successful teams respect each other’s boundaries. 

Your team members may have joined your organization because they wanted to work in the real estate industry – but they also wanted a healthy work/life balance. Do your best to respect their boundaries by ensuring each team member has regular days off and uninterrupted vacations. Don’t make your team members feel guilty for taking time off to care for a sick child or parent. Reinforce boundaries and balance.

Successful team leaders treat their coworkers the same as clients.

Would you scream at one of your clients? Granted, you may feel like it sometimes, but you are probably self-aware enough to understand the negative ramifications of such an act.

If you can hold it together when dealing with a stressful client, you can do the same when working with your team members. Should you correct bad behavior? Of course, you should. But you may not be doing it correctly if talented people leave your team in droves. 

Successful teams make big decisions together.

If you are the team leader, the final decision must come from you. But that doesn’t mean that you shouldn’t consult with your team members before making that decision. 

If your team members’ income is based, in part, on your decisions, they have a right to offer their opinions. Otherwise, you may find yourself on your own again – working without the support of your team. 

Successful teams encourage growth and learning. 

Leadership requires you to put the needs of your team members first, setting aside your ego and personal competitiveness. Does this mean some of your team members may grow in skill and move out on their own? Possibly! If so, feel good about how you changed the course of that person’s life. 

Encourage your team members to grow in industry knowledge by partnering with Colibri Real Estate. Some of your team members may be ready to earn their broker’s license. Colibri Real Estate has a comprehensive post-license online course that can help real estate agents pass that challenging broker’s license exam. 

If you are beginning to form a team, look into Colibri Real Estate’s Accelerator Real Estate Broker Recruitment. This program will help you recruit real estate agents – and retain top talent.

No matter where you are in your career, Colibri Real Estate offers the resources to get you to the next level.