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The art and impact of company culture in real estate

Growing up with a father running a real estate brokerage and then later opening one myself, I have seen our industry go through many phases. But, over time, one thing remains consistent – a strong company culture based on principles of sharing and collaboration delivers benefits not only impacting your shop but also the industry at large.

With this spirit in mind, I share my top tips for fostering a collaborative company culture.

 

Build genuine connections locally and globally

 

While other brands are becoming more virtual with less focus on the office culture, fostering an environment for real estate professionals to learn from being around like-minded industry peers can support genuine connections and collaborative mindsets.

To create a united and supportive community where collective growth, continuous learning and mutual success win over individual competition, host regular bi-weekly office meetings and Mastermind training sessions that foster growth.

Navigating changes in the industry can be difficult. Training sessions give advisors a detailed map of how to work within new industry rules.

Authentic relationships are built upon a wide network of support and shared knowledge within the company. Monthly office events provide advisors with the opportunity to connect on a social level.

 

Facilitate master / mentor relationships

 

In our office at Engel & Völkers Vancouver, we develop training materials and systems to facilitate master/mentor relationships – ‘master’ being early career professionals mastering their craft, and ‘mentor’ being brokerage leaders.

Create effective mentorship systems to facilitate ways your company can share knowledge and growth opportunities with new hires. Putting these systems in place will accelerate growth for new professionals while giving senior people access to fresh perspectives.

Companies can offer opportunities for new advisors, such as co-listing homes, or partnering with another established advisor to watch over and assist in the process. This supports new advisors in building off of the collective reputation of the brokerage while facilitating knowledge exchange.

 

Harness the power of collaborative culture

 

Real estate professionals are realizing the drawbacks of virtual brokerages and seeking in-person communities with brokerages based on outstanding reputation and culture. Building a joint network of people working collaboratively enriches knowledge sharing within a company and naturally catches the attention of top talent.

Instill a strong sense of companionship and mutual support among agents through hosting work social events and encouraging networking with groups. Support your advisors by providing access to a master folder offering training videos, personalized workbooks, trade lists, marketing assets and templates, with the ultimate goal of providing easy access to important information and key aspects of business for advisors.

 

Host effective coaching on regulatory policies and changes

 

Due to the ever-evolving nature of the real estate industry, professionals are looking to join forces with brokerages that know how to navigate industry complexities and market dynamics. Encouraging a company culture that includes coaching on regulatory policies and changes helps to protect your brokerage’s reputation, avoid risk and inspire public trust.

Create personalized training to provide value to new professionals with targeted guidance tailored to their specific needs and industry changes. This ensures real estate advisors stay up-to-date with the latest trends, regulations and best practices. Encouraging group discussions on market conditions and ways to work through challenges gives advisors a chance to connect and discuss their struggles and get support.

 

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