Profits vs. People: Cultivating a People-First Culture in Real Estate
As a real estate leader, it’s important to emphasize culture and team development over profit to create a lasting, positive industry impact.
We recently came across a profound quote by organizational psychologist Adam Grant that resonated deeply with us: “Good leaders build products. Great leaders build cultures. Good leaders deliver results. Great leaders develop people. Good leaders have vision. Great leaders have values. Good leaders are role models at work. Great leaders are role models in life.” It underscores an important and fundamental principle that the heart of any successful enterprise lies in its people, not just its profits.
Real estate leaders face the unique challenge of navigating a market driven by fluctuating market trends and now, unfortunately, legal fears and incriminating headlines. Change and fear like that can make it easy to focus on the bottom line of staying in business and overlook the broader impact of leadership on team morale, client relationships, and long-term organizational health. However, as Grant’s quote suggests, true leadership transcends mere profit generation. It’s about cultivating an environment where agents thrive and feel valued, clients feel and believe they have advocates and trusted advisors, and our industry can evolve with more transparency.
Leadership today is not just managing the transactional side of the business but also inspiring and empowering and empower agents to reach their full potential. This approach can require a shift in perspective for some – from viewing agents as just revenue generators to recognizing them as valuable contributors to the company’s success and culture. By prioritizing people over profits, real estate leaders can foster a more sustainable, ethical, and profitable business model.
Related reading: Escalon – The truth about companies that value profit over their people
Here are three strategies to get you started:
1. Foster a Positive and Inclusive Culture
The first step in this transformative leadership journey is to establish a culture that values collaboration, inclusivity, and mutual respect. In a positive workplace environment, agents are more engaged, motivated, and committed to their work. As a leader, it’s essential to encourage open communication, acknowledge diverse perspectives, and create a sense of community. Celebrating successes and learning from setbacks together strengthens team bonds and enhances collective performance.
2. Invest in Personal and Professional Development
The second key area of focus is the personal and professional development of each agent. Traditional training programs are no longer sufficient in today’s rapidly evolving market. Leaders must provide opportunities for continuous learning, skill enhancement, and career growth. This includes personalized coaching, access to industry insights, and support for innovative approaches. Investing in the growth of your agents not only improves their performance but also demonstrates your commitment to their success.
Related reading: Qualities To Look for When Searching For A Real Estate Coach
3. Lead by Example as a Role Model
Finally, effective leadership in real estate means being a role model both within the workplace and in the wider community. Great leaders exhibit empathy, integrity, and a commitment to ethical practices. By setting a high standard for behavior and decision-making, you inspire your agents to uphold these values in their interactions with clients and colleagues. This approach cultivates a reputation for excellence and trustworthiness, which is invaluable in building long-term client relationships.
Related reading: Real Estate Leadership: Using the Golden Rule to Engage Team Members
The Takeaway
Adam Grant’s profound words remind us that the most impactful real estate leaders are those who prioritize the development of their teams and the cultivation of a positive organizational culture. By focusing on these areas, real estate leaders not only drive financial success but also contribute to a more ethical, client-focused, and sustainable industry. Ultimately, the legacy of your leadership will be measured by the strength of your team and the positive impact you have made on the lives of those you lead.
In the end, it is the people you cultivate and the cultures you build that will define the legacy of your leadership.
For your Agents…
Success is not just about closing deals; it’s about creating an environment that fosters growth, collaboration, and mutual respect. Our vision goes beyond financial goals – it encompasses a commitment to values such as integrity, ethics, and social responsibility.
We believe that a strong foundation is crucial for the success of both our agents and our brokerage. By aligning our actions with these values, we create a trustworthy and transparent environment where you can confidently conduct your business.
We are excited about the possibilities that lie ahead and remain dedicated to ensuring that your experience with our brokerage is not only professionally rewarding but personally enriching.
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 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!