There’s a leadership technique that can be especially useful when newly licensed real estate agents join your team: situational leadership. In short, it means adapting your leadership style to meet the needs of individual people.
So, what do your newer agents need to help them thrive and grow? Let’s dive in with some advice from the Weichert® team.
Focus on the fundamentals
According to the National Association of REALTORS®, 18% of members have one year or less experience in selling real estate. A new agent often comes with a blank slate and tons of enthusiasm, but a lack of foundational elements. This is where you can step in and lead. Because an agent’s first year in real estate can be the toughest, make sure your leadership comes with an onboarding plan that focuses on the fundamentals. Understanding things like business best practices, negotiating strategies, prospecting and marketing techniques can help a newer agent to succeed in both their short- and long-term career.
For more details, take a look at our previous blog, Focus on the fundamentals.
Stay in coach mode
Have a training program to get new agents off to a solid start. Our broker-owners, for example, tap into our Weichert Fast Track program when onboarding newly licensed agents. This live webinar series is led by one of our business coaches, and the training spans over several weeks, touching on everything from prospecting to how to prepare and deliver a listing presentation. It’s designed to get newly licensed agents up to speed fast, so they can produce quickly, too. It can also be a great refresher tool for even the experienced agent.
The point of Fast Track is, yes, to fast track a new agent to success. But it’s also designed to create a continuous coaching stream. Commit to a plan for providing ongoing leadership specific to a newer agent. It’s easy to be pumped up for the first week or two of when they join the team; it’s the coaching over time that can make a difference. Make sure you are conducting regular check-ins and engage them in your weekly team meetings or other training opportunities.
Curious to learn more about Fast Track with Weichert? Reach out for more information.
Lean on your seasoned pros
The more experienced real estate agents and brokers on your team can play an important role in mentoring the newer, less experienced agents. Create opportunities for them to “step up” and support the new crop of talent. For example, create a buddy system where you pair up team members based on years of experience, such as “5+ years” meets “less than 2 years.” One such example is the Weichert PartnerUp program. Give each buddy team opportunities to learn and grow together. You can send out weekly prompts, such as “My buddy just taught me how to [fill in the blank].” Then meet as a greater team to compare notes. You may even be surprised how much your seasoned pros are learning, too! It’s a great way to connect wisdom with fresh ideas and to promote an overall team spirit.
Emphasize winning mindsets
A new agent might see the work-world in black and white: numbers, dollar signs, volume, paychecks. Teach that the value of long-term relationships can be more important than the number of transactions in the short-term and share real-life examples to illustrate the differences. As a real estate agent, they’re building lasting relationships, potentially representing people, families, and clients for many, many years. A mindset that puts people first can lead to growth. Help newer agents focus on people, including clients, the community at large, and the community you’ve built at the office.
At the same time, you can help newer agents avoid non-productive mindsets, such as being too focused on transactions alone. RISMedia outlines five classic mistakes that’s definitely worth a read.
Keep an open mind
Create an environment where everyone feels comfortable expressing their thoughts and ideas. Leadership may be all about helping others “do,” but it’s equally about helping others “feel”—feel appreciated, heard, inspired. Leave room for new ways of thinking. Toss the “yeah, we already tried that” response out the window when a newer agent offers an idea you may not favor at first blush. Being open to hearing out new ideas—or even old ideas with a new perspective—doesn’t mean you don’t have a backbone. Instead, it translates to collaboration, inclusivity, and respect, which are all key components for any team today.
Showcase your company culture
A new agent may have been drawn to your business because of your company culture. Remember to keep highlighting that culture as the agent settles in. Be mindful of how you communicate what you stand for—things like your work ethic, your company values, and your overall brand story. Find ways for your newer agents to contribute to the culture. For example, they might have ideas for community outreach. Empower them to explore these ideas and report back to the team.
Lead with authenticity
At the end of the day, it’s important to remember that we’re in the people business. Show your newer agents the authentic, genuine side of you and your business. Ask them every so often, “How are you doing?” And then really listen to the answer. For more inspiration on leading with authenticity, check out this compelling article in REALTOR® Magazine.
Remember, leadership is not a “one size fits all” approach. Give your newer agents a chance to grow with leadership designed for them. The results will benefit everyone.
Learn more about how Weichert can support and coach you in your role as real estate broker and leader extraordinaire.