Six Ways To Build Culture At Your Real Estate Brokerage
One of the most important factors I considered when building my brokerage was building a culture where real estate agents feel comfortable, feel motivated and are able to thrive. A company’s culture can refer a variety of elements, including its mission, goals and even the physical work environment. Real estate agents tend to have many options available when it comes to choosing a brokerage that is a fit for them, so it is important to invest in and grow the culture at your brokerage in addition to offering support and education. Culture will not only attract new agents, but it will also be important for retention as well.
I’ve built a culture that I’m proud of by focusing on six key things. Here’s how you can build the culture at your real estate company:
1. Learn Your Agents’ ‘Why’
People get into the business of real estate for many different reasons, but very often one of the swaying factors is the lifestyle that a real estate career can provide. A real estate career can allow someone to set their own schedule and reach unlimited earning potential. And it can often be someone’s second or third career. While agents may enjoy some aspects of the job, it is rare to hear someone say they love writing contracts or sitting at an open house. I encourage brokers to learn about your agent’s “why.” Engage with them to learn why they got into the business and what their goals are. If they do not know why, encourage them to think about this answer.
2. The Power Of Coaching
I believe in and promote coaching for my team members. It is important to have someone push and encourage you, and be a sounding board at times. I personally have three coaches for different areas of my life, and our company is set up in such a way that our agents have access to coaches, too. The support and honest answers coaching provides can help an agent feel more comfortable in their role. A coach can also hold them accountable to staying in check with their business goals.
3. Focus On Personal Growth
Guide your agents on their own personal development journeys. An agent’s mindset is key to keeping them in the business. I suggest creating weekly video messages on topics like personal growth and development. While we want agents to grow their businesses, we want agents to grow in their personal development as well.
In my experience, many real estate agents are very social creatures. They enjoy interacting and engaging with others and participating in fun events. They work long hours, including evenings and weekends, so hosting fun activities for your agents will help them enjoy their time, celebrate their hard work and connect with others on the team. For example, one of our team’s most popular events has been brewing our own beer, where we worked together with a local brewery to have our agents participate in the brewing process.
5. Never Stop Learning
In the real estate industry, there can be new laws, software and even social media channels to learn about. As agents know firsthand, much of what you learn in your pre-licensing course is very different from the real world experience of the business. It is important that a brokerage offer ongoing educational opportunities, beyond the licensing requirements. A culture that includes a learning environment will help agents become more confident in themselves and could help foster new business.
6. Make Your Environment Inviting
If your company has a physical office, make sure it’s one where agents feel welcome. Consider designing your space with an open floor plan, which allow for high-impact workshops and social functions. Elements like colorful walls and motivational artwork can add to the ambiance. Include couches, open desks with computers and other seating options or room setups to allow agents to engage, socialize and be comfortable while on the job.
While all businesses should consider the environment they provide for employees, a real estate brokerage’s culture is something that should not be overlooked. An engaging and positive culture can contribute to a company’s long-term success. I encourage those starting a brokerage to plan ahead on ways to contribute to your brokerage’s culture.