Real Estate Business: 7 Ways to Create More Team Spirit
Team spirit is one of the most important factors in building a winning real estate business. That said, how can real estate business owners build more team spirit into their organizations?
The Value of Team Spirit
Having a strong team spirit is critical for real estate businesses to survive. This stays true whether you are venturing out solo, or already have a sizable in-house team. Even if you plan to operate a small real estate business from home, work as an ‘independent’ real estate agent, or part-time real estate investor, you’ll still have some form of team. You’ll at least have strategic business partners, industry vendors, and probably a few assistants or on-call virtual assistants to help with real estate marketing, bookkeeping, and research. Big or small, you need to recognize the importance and value of team spirit.
Without it, your team members will be simply working towards their own individual goals and interests. That may be doing as little as possible to keep the work burden down, neglecting to submit ideas for making things better, or fixing flaws in the system. At best; without a strong team spirit, your players won’t be as productive as they could be, or as significant brand ambassadors as they should be.
Done right, team members can be encouraged to work harder, better, have the initiative to work more efficiently and deliver better customer satisfaction. So how do you get to this point?
Seven Ways to Unite and Create a Stronger Team Spirit in Your Businesses
1. Get everyone on one page: Very, very few real estate companies have teams that are truly united around a vision. This is even truer in today’s increasingly virtual environment, but it is equally a problem in most physical offices. Goals, mission and vision statements too quickly become an afterthought moments after they are written. If these are just going to be canned paragraphs that aren’t put to work, save your time and make some extra cold calls instead.
This is the basis of any successful organization, and it doesn’t have to be complicated or boring. Create a one-pager: a one page road map and mission that highlights the goals and vision for the organization. Make it visible. Make it mandatory reading. Make it inspiring. Even consider regular updates from the CEO on how the organization is doing with regards to the plan.
2. A road-map to individual growth: Even if individual team members will spend most of their time working on very niche tasks, they are part of the team. Yet, each individual still has their own goals and aspirations. There are some that just want to fill seats and punch clocks for as long as possible. You might need some of these, but you probably can’t afford many of these individuals in your organization if you want to grow. If you don’t give the hungry and inspired room to grow with you, they’ll outgrow you and become your competition. If they are any good, they’ll be far better on your team, even if they cost a little more. Give them a road map to grow with your organization. Create learning and promotion opportunities. Show them how they can work the system to the entire team’s benefit.
3. Connectivity: Real estate businesses are much more likely to retain their best team members and increase their productivity together if they improve their connectedness. In physical offices, this can be improved by better design flow so that people run into each other and hang out more. Virtual connectedness can be improved via social media and email. Even investing in annual get-togethers could deliver a great ROI.
4. Empower them: Think about some of the worst customer experiences you have had over the last year or two. Some of them have probably been due to customer service reps that simply haven’t had the power to help – even in the simplest ways. Telling staff to deliver better without giving them the power is going to crush your team’s mojo. Empower them.
5. Stock options: Most bonus structures are simply garbage. In fact, most are worse. They are demoralizing because they aren’t achievable. Or worse; they require sacrificing customers and relationships to achieve them. What about some form of ownership incentive instead? Then they’ll profit when they help boost the performance of your real estate business.
6. Team building activities: These don’t have to be cheesy, and they can have real value. From family picnics and sports fishing excursions to corporate retreats for sparking creative thinking, these can be some of the best investments you’ll make in your business.
7. Giving back together: Remember, this isn’t just about your in-house real estate team. In one way or another, your team includes the local community. You are a player on the community team. Doing your part as a team member can do wonders for strengthening your organization. Some even pay their crew to volunteer or organize fundraisers.