As a broker, you are the leader of your team, throughout all the changes that the real estate market may throw your way.
Change is a constant part of real estate. It is an unpredictable field that is never the same year-to-year or even month-to-month. So how does one deal with this? It is undeniable that constant change may be hard to deal with, and may even start to affect your employees. As a broker, you must always be adaptable to change. Here are some strategies for dealing with the constancy of it:
1. Training, training, training.
Some brokers argue that this is the most important part of the hiring process. Your agents and other members of your team, must know what to do when something doesn’t go exactly as planned (as is common in the real estate field.) A broker isn’t a micromanager – you must be confident in the confidence of your employees. Extensive training processes allow for more self-assurance when change inevitable happens.
2. Keep your team competitive.
All brokerages feel the effects of the same market downfalls or inventory shortages. The difference is that if your team stands out, clients will want your advice during these tough times, as opposed to a competing business. Know your brand, keep it constant, and update it as needed – uniqueness and constancy can go a long way in a field of change.
3. Don’t allow the idea of change to be all-encompassing.
According to Sarita Dua, principal broker at Keller Williams Professionals in Portland, Oregon, “The only thing that doesn’t change is change itself. While it is good to know what direction we are headed in, you can’t get paralyzed due to impending change, nor can you change what you do today for a future problem or issue.” Essentially, it is difficult to prepare for the future. You can have an idea of what you want to do, but it is difficult to plan in a field that is ever-changing – and that is okay. With the right training, skills, and mindset, you will know what to do when the change inevitably arrives.