No matter the endeavor, the success of any team depends on the people. Identifying key talents, fostering your team members’ growth and supporting them in areas where they may struggle are vital for any high-performing group.
In my more than 20 years in the real estate industry and in my roles as head of coaching and training, and now Chief Brokerage Officer for @properties | Christie’s International Real Estate, I’ve had the opportunity to coach many team leaders. Here are some of my tips to ensure you’re getting the best from your real estate team.
The Building Blocks of a Top-Performing Team
The best real estate teams are built on two key functions: sales and operations. They also have leadership that deeply understands these functions and designs an infrastructure to support both. Take a look at your team’s skillset and make sure you have team members who can serve in these roles.
Your most talented salespeople are generally going to be those who are naturally comfortable with clients and can clearly communicate the steps of the buying or selling process. One way to identify these skills is through background knowledge of the person; for example, we know that many agents choose real estate as a second career. Some of the best agents I’ve worked with come from a previous marketing, sales or education background, so they start their career with a good understanding of the skills needed to be successful in a client-facing role. This can be immensely beneficial and minimize the time needed to explain the basics of the sales process or how best to communicate with clients.
On the operations side, organization is a must. Because this position is all about developing processes, look for someone who is detail-oriented and enjoys digging in and creating systems that will help the business.
Provide Clear Expectations
Top-performing teams understand what’s expected of them. Be clear on sales expectations, including benchmarks or levels for each team member. I recommend personalizing sales expectations for each person based on their years of experience and responsibilities. For example, an agent who is newer to the industry may be expected to bring in three to five new business leads each year, while an experienced broker could be responsible for eight to 10 leads.
Once an individual team member’s goals and responsibilities are outlined, the team lead should make sure that they, or whomever oversees the sales agents, is checking in with the team member on a regular basis. These meetings are a great way to motivate your team members, as well as hold them accountable.
Plan for Success
In a self-directed field like real estate, business planning is critical to keep yourself and your team members focused on their goals. Work with each member of your team to put together a personalized plan for the following year, including targets for total sales volume, total number of transactions and average sales price. Consider professional development opportunities, including training sessions through your firm, one-on-one work with a mentor or outside coaching programs like Ninja Selling, if you have the budget for them.
If a team member is seeking additional training but your firm lacks an internal training program or a budget for professional development, you could suggest that the agent ask the team to sponsor a training, in exchange for teaching the team what they’ve learned.
To address an underperforming team member, provide consistent, constructive feedback on areas for improvement. When you do so, offer concrete examples with recommended next steps. If an agent lacks a specific skill, such as complex negotiations, encourage them to participate in targeted training sessions or webinars. Create a support system and build confidence by connecting weaker performers with stronger team members—which we’ll dive into a little more.
Support Agents’ Growth
To help build a newer agent’s skillset, ask them to cover showings or open houses for more experienced agents on the team. Once a less experienced agent has shown their grasp of the listing process and is able to handle all aspects of a transaction, you can increase their level of involvement, like letting them co-list a property with the team lead. Expectations will vary depending on an agent’s experience, but over time, the responsibilities should increase and move toward supporting overflow from the team leader.
One of the most common reasons real estate teams fail is a lack of mentorship and management; I highly recommend incorporating a formal mentorship program if you don’t already have one. Pairing less experienced agents with high performers builds confidence and can be transformative for a new or underperforming team member. While the team leader doesn’t need to personally mentor or manage each member, it’s important to designate someone to fulfill this role.
How can you encourage this peer-to-peer accountability? Refer back to those team goals and expectations!
Share Knowledge
Trust and collaboration are critical on any top performing team, so encourage collaborative behavior at all levels. Knowledge sharing – whether around marketing tactics, client engagement methods or successful deal strategies – empowers the team while building vital camaraderie.
Weekly team meetings are a perfect time to bring everyone together to discuss business and future opportunities, share in one another’s wins and learn from one another. They’re also a great opportunity to highlight your team members’ unique talents.
For example, if one of your agents loves design and staging and has successfully used this in their own business, you could ask them to do a short presentation on their top staging tips. Or if someone is great at putting together a prospecting worksheet and it has helped their business grow, why not have them demonstrate their process to their colleagues? Doing this not only shows that you recognize your team member’s talent, it also strengthens relationships within the team and is useful – and free! – professional development for everyone.
Shared knowledge can also happen in the field. A new listing can be a great opportunity for a team to learn. Have your team members walk the property, and show the team how they would sell it, or role play situations together.
Identify Future Leaders
Look for leadership potential among your team, observing team members who take initiative, provide thoughtful input during meetings and support their colleagues. Are they enthusiastic about professional growth? These individuals could be your team’s resident leaders-in-waiting.
Team leaders can support the overall team by identifying ways to help everyone step into leadership roles. Whether it’s leading a team meeting, representing your group at an industry event or launching a community outreach initiative, leadership opportunities inspire team members to aim higher.
Celebrate Your Wins
Finally, it’s been proven that acknowledging accomplishments builds morale, so make sure to celebrate your team’s wins. Whether it’s public recognition, performance awards or personalized incentives, celebrating milestones can motivate your team to reach even greater goals.
A successful real estate team thrives on collaboration, mentorship and a clear vision for growth. By building a strong foundation of sales and operations, setting clear expectations and fostering continuous learning, team leaders can empower their agents to excel. Ultimately, the best teams are those that invest in their people—supporting their development, recognizing their achievements and creating a culture where everyone has the opportunity to thrive.