How do these top-performing REALTORS® lead and run successful, thriving teams and offices?
During our most recent 360° Summit, three powerhouses—Farrah Wilder with REAL Diversity, Erica Esquivel with The Resurrection Project and Grigory Pekarsky with Vesta Preferred—gathered to share their insights on how embracing diversity transformed their businesses.
“We know as real estate professionals that we bring our whole selves, our whole communities to work with us every day,” Farrah said. “We are entire people. We have families, and we have things that concern us that go well beyond the dollars and the cents.”
As leaders, we are tasked with creating a work environment that acknowledges and values the whole person. We must implement policies that support work-life balance, mental health, and community involvement. This approach can lead to more engaged, loyal, and productive team members who feel truly seen and valued in your team, office or however you define your organization.
Cultivating Resilience In Your Team
Grigory Pekarsky’s journey from Russia to Detroit and eventually to Chicago is the epitome of the American dream. “That picture right there is the first day, the first night that we came to America,” he shared, pointing to an image of himself perched atop one of eight suitcases—the total of his family’s possessions. This immigrant experience became the bedrock of his business philosophy.
“When it comes to starting with nothing… it shaped everything for me in regards to the way that I think about opportunity, the way that I am motivated—everything,” he said.
Pekarsky’s story reminds us that diversity isn’t just about representation—it’s about harnessing the unique perspectives and drives that come from different life experiences.
Actionable Insight For Leaders
Foster a culture of resilience in your team. Encourage team members to share their personal stories of overcoming challenges. This not only builds empathy but also creates a collective mindset of perseverance that can drive your business forward during tough times.
The Power of Perspective
Erica Esquivel, named Rookie of the Year by the National Association of Hispanic Real Estate Professionals, brought a powerful message about the importance of perspective in real estate. “Get uncomfortable, and remember that your perspective is your power. That’s your tool,” she said.
Esquivel’s work with The Resurrection Project focuses on creating affordable housing opportunities in underserved communities. Her approach? Tailoring programs to be inclusive, recognizing that “one size doesn’t fit all, especially not in homeownership.”
Actionable Insight For Leaders
Create opportunities for team members to bring their unique perspectives to the table. Implement regular brainstorming sessions where diverse viewpoints are not just welcomed, but actively sought out. This can lead to innovative solutions and help your team tap into underserved markets.
Building Inclusive Teams: Beyond the Checkbox
When it comes to building diverse teams, rather than focusing on surface-level diversity, Pekarsky emphasized core human traits. “We hire based off of two core metrics. The first metric is attitude. The next thing is work ethic. This whittles down the applicant pool to just 10% across the board,” he said.
Committing to this approach has inadvertently created a team that reflects the diversity of Chicago itself—a testament to the power of pursuing character over characteristics.
Actionable Insight For Leaders
Develop a hiring rubric that prioritizes your most desired core qualities in team talent. Struggling to come up with those? Start by listing actions you value or admire in real estate professionals, and then review what you wrote. Identify common threads and core values that are at the heart of those practices.
This approach can help you build a naturally diverse team while ensuring all members align with your business’s values and work culture.
The Business Case for DEI
While some organizations are pulling back on DEI initiatives, the panelists made the case for doubling down. As Farrah Wilder pointed out, “By not focusing on diversity, we welcome risk and potential bias more than we eliminate it. “
Next steps for leaders:
- Conduct regular inclusion audits of your business practices, from hiring and promotion to client interactions. Identify potential blind spots or biases that could be limiting your business’s growth or exposing it to risk. Use these insights to develop targeted DEI initiatives that directly support your business goals.
- Implement personalized development plans for each team member. Recognize that different individuals may require different resources, training or support to reach their full potential. This tailored approach can lead to higher engagement and performance across your team.
- Challenge your team to expand their comfort zones and market knowledge. Organize regular “neighborhood immersion” days where team members explore and learn about different areas of your city. This can help your team better serve a diverse clientele and identify new business opportunities.
In conclusion, these Chicago real estate leaders demonstrate that building diverse, successful teams isn’t just about meeting quotas or checking boxes. It’s about creating an inclusive culture that values diverse perspectives, focuses on core human qualities, and invests in continuous growth. By implementing these actionable insights, Chicago REALTORS® can build stronger teams and lead the way in creating more equitable and thriving businesses that truly serve all members of their communities.