Being a broker means being a leader – the two go hand-in-hand. There’s a lot that a broker has to keep track of, from their long lists of clients, to leads, to their subordinates… Needless to say, there is some delegation of tasks and assignments that must be done. In addition to keeping clients happy, brokers must also keep their agents happy, while simultaneously maintaining an efficient workplace. We have compiled what we believe to be some must-have leadership skills when running a brokerage:

• Communication

One of the key components of being a good broker is strong communication skills. A broker must feel comfortable discussing potentially difficult topics with his or her team, as well as clients that the brokerage may encounter. Good news and bad news should both be delivered professionally. If this is done well, any situations that may arise can easily (and properly) be handled.

• Problem Solving

Branching off of communication skills are problem solving skills – another necessity in a brokerage. It is no secret that being a broker is hard work. Real estate is hectic. Not everything works out the way it was planned. A broker with strong problem solving skills can keep a brokerage afloat, even if it is in danger of going under.

• Compromise

Again, not everything (if anything) in real estate is put together on a silver platter. A strong leader should always be willing to compromise – both with subordinates and with clients. Not every deal will go through perfectly, not every task will be completed on time, not every sale will be made… a lot of real estate is about compromise and being willing to change plans. Essentially, not much should be set in stone. Be firm with aspects that are non-negotiable, but be flexible with ones that have a little more wiggle room.