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“The function of leadership is to produce more leaders, not more followers.” – Ralph Nader 

As an effective real estate leader, one of your most significant roles is to identify budding potential managers and nurture them into great leaders of the future. This responsibility not only ensures a bright future for your brokerage but also helps create a culture of continuous development and growth. In this article, we’ll explore the essential traits to spot in potential leaders, how to help them cultivate a leadership mindset, and finally, how to sculpt their skills for future leadership roles.  

Related reading: Deloitte – The holy grail of effective leadership succession planning 

Related reading: Harvard Business Review – Developing Your Leadership Pipeline 

Identifying Potential Leaders: The Key Traits to Look For 

Identifying potential leaders goes beyond looking at a team member’s current performance. It entails identifying specific individuals who exhibit the right blend of leadership capabilities that can drive the company mission forward. Recognizing these people early makes it easier to cultivate and nurture their abilities and helps you ensure a steady stream of competent leaders in the following ways: 

1. Data Analysis Approach - an individual’s approach to problem-solving, decision-making capabilities, organizational skills, and the ability to work in a team.
2. Role Model Framework – an individual’s strong work ethic, integrity, fairness, and authenticity, inspiring their peers and fostering positive relationships within the team.
3. Future-Proof Competencies – necessary abilities might include technological proficiency, a “big picture” or global perspective, and adaptability amidst constant change. 
4. Pinpointing Essential Positions – pinpointing linchpin positions that are critical for the long-term health of the brokerage and assessing the individual’s performance in those roles.
5. Leadership Motivation – individuals with an intrinsic motivation to lead, drive change, take on responsibilities, rise to challenges under pressure, take initiative without prompting, and consistently seek opportunities for growth. 

Promoting Strategic Thinking and Decision Making 

Nurturing an environment of leadership involves fostering strategic thinking and decision-making abilities. To establish a leadership mindset, you need to inspire potential leaders to think beyond traditional real estate dealings and promote innovation and creativity.  

• Challenge with Real Estate Scenarios - Emerging leaders should be exposed to real-life scenarios in our industry. This will help them to take quick, strategic decisions under pressure and build their confidence in handling similar situations in the future. These potential leaders will develop the necessary critical thinking skills required in dealing with complex situations that arise in the real estate world.  
• Build an Ownership Mindset - One of the most crucial traits of a leader is having an ownership mentality. Leaders must encourage their potential successors to think like owners. To do so, involve them in decision-making processes to develop innovative solutions and promote a sense of responsibility and ownership. 
• Delegate Strategic Tasks - Delegate tasks that involve leadership, problem-solving, and decision-making skills. Task delegation is not just about sharing the workload but also an opportunity to empower team members and help them gauge and improve their skills and capabilities in the process.  

The Takeaway 

Nurturing future leaders requires a deep commitment and strategic approach. The role of choice and cultivation of these leaders cannot be underestimated, for their importance goes directly to the long-term health of the company. Properly identified and nurtured, these leaders can drive a company towards a future that is considerate of its impacts on people, as well as profits. 

Leaders are not bred in a vacuum – they are carefully cultivated, traditionally within a role model framework, and often within a mindset of continuous improvement.  

Ultimately, the true measure of a successful leadership strategy lies in its ability to evolve with the organization. As today’s real estate businesses wrestle with new models and unpredicted challenges, they need leaders who are not only ready for anything but also have a significant impact today and can adapt for tomorrow.  

Related reading: Embracing Change: A Guide for Real Estate Agents 

For Your Agents 

Crafting your own leadership story isn’t a one-size-fits-all process. It’s a personal adventure that requires self-discovery and strategic development. Think about your own experiences, triumphs, and challenges – how have these helped shape your work ethic, decision-making skills, and perspectives toward real estate?  

Start by adopting the mindset of a leader today, then consciously work towards nurturing your leadership potential. Be open to continuous learning, and don’t be afraid to step out of your comfort zone. Explore different aspects of the business and the industry because this diverse exposure will equip you to understand the intrinsic values and direction of our company better. Leadership isn’t about the title or the position but about your ability to influence and inspire change. So, start creating your leadership story today because every great leader starts with a dream and a vision. 

Know that agents do NOT have to go it alone in this market. 

Our goal is to bring the tools, training, and coaching to not only survive the shifts – but also build solid, dependable foundations they can count on and help them build clients for life. If that sounds like a goal that can help you reach YOUR goals – then join us for our Free Weekly Real Estate Webinar Training Series! Click here or the graphic below to register for the next one! 

Darryl Davis is an award-winning international speaker, real estate and business coach, and best-selling author of three books, all published by McGraw Hill Publishers.       

For more than 35 years, Darryl has spoken to and trained more than 100,000 sales professionals around the globe to more than double their production year after year. His book,  How to Become a Power Agent in Real Estate, tops Amazon’s charts for one of the most sold books to real estate agents.       

He was awarded the Certified Speaking Professional (CSP) designation by the National Speaker’s Association, which is given to less than 2% of all speakers worldwide.       

Whether from a stage or Zooming into a virtual room, Darryl’s extraordinary humor, relatability, and natural gift for teaching real-world, results-producing skills and mindsets to audiences have made him a client favorite throughout his career.       

Audiences will laugh, learn, and ultimately walk away better prepared for a changing world, with the tools, skills, and training they need to build their businesses with more ease and less stress and to design lives and careers worth smiling about.       

Bring One of Darryl’s W.O.R.K. Topics to Your Organization!      

By providing your agents with the knowledge and insights they need to stay ahead of the game, you can ensure that they are equipped to handle any situation that comes their way! Contact us here to learn more!