14 questions to ask yourself before becoming a team leader | Private Equity Weekly

April is Team Month Here in Inman.Add nuance on a weekly basis team beat Through our email newsletter, we’ll provide top insights from the best team leaders in the country as we take a deeper look at how to build a team, scale a team, and even leave a team.

As the real estate market continues to evolve amid commission lawsuits and settlements, many agents are questioning the next step in their careers. Some agents decide to join a team, some merge teams, some choose to work alone, and some consider promotion from solo agent to team leader.

The beauty of leading a team is creating the opportunities for growth, impact, and fulfillment that the team provides.

For Jae Wu, Heller PropertiesThe decision to transition from agent to mentor was driven by a deep-seated desire to make a meaningful impact on the lives of others. “I spent several years working in real estate for my clients when I felt the need to share it with others,” Wu said. “My goals are more fulfilling when I share them with others.”

manda edge King and Edge Know she’s ready to lead a team because her leadership journey has been shaped by a variety of mentors and role models.

“I had the opportunity to work under multiple leaders and mentors,” Edge explains. “This experience has enhanced my ability to lead a team.”

“My leadership skills really come from my mother and my early career in the male-dominated world of tech,” shares Michala Costello. A well-planned life. “This has been a journey of redefining leadership on my own terms and leading with my partner Rob Lamb.”

For Claire O’Connor O’Connor ManorThe transition to leading your own team was a natural evolution, driven by a desire for autonomy and deeper friendships.

“I felt my comfort level change as an agent,” O’Connor said. “Once I got out on my own, I missed the camaraderie of being in a team and found that leading my own team gave me that same camaraderie, but with the autonomy to forge my own path.”

For Sarah Evers Mobile Music CityThe decision to transition from solo agent to team leader came out of necessity—the realization that she could no longer maintain the relentless pace of working alone.

“I was a solo agent for the first nine years of my career,” Evers recalled. “But then I was working all the time, often until 11 or 12 o’clock at night. I knew something had to change!”

yes you Does one of your agents feel called to take a leadership role in your real estate practice?

How do you know for sure that you’re truly ready to make that leap? We’ll explore five key points to consider when considering a leadership role in your real estate business. Each point is accompanied by thought-provoking questions to help you gauge your readiness and align your aspirations with leadership requirements.

Experience and expertise

Building a successful real estate team requires more than a track record of completed deals. It requires a deep understanding of the intricacies of the market, the ability to navigate complex transactions, a proven track record of delivering exceptional client outcomes, and the experience required to lead other agents.

Meredith Alderson, Broker Associate and Principal Dingsheng Group, She knows she’s ready to lead when her production is consistent and she feels she has the knowledge and skills to help agents grow.

Think about your past experiences and achievements. Do you have enough expertise to effectively coach and mentor others?

Questions to ask yourself

• Do I consistently demonstrate success in my real estate transactions?
• Do I have a deep understanding of local markets and industry trends?
• Do I understand the contract well enough to guide the agent through a difficult transaction?

Vision and Strategy

A successful real estate leader is more than just a manager. They are visionary and can chart a course for their team’s success. Take the time to articulate your long-term vision for your business. Can you clearly communicate your brand image goals and aspirations to your team?

Additionally, consider the strategic moves needed to turn your vision into reality. Have you outlined actionable steps to achieve your goals and overcome potential obstacles?

Questions to ask yourself

• Have I developed a clear vision for the future of my real estate business?
• Have I developed a strategic plan to achieve my goals and guide my team?
• Can I articulate this vision and plan to new team members so they understand where the team stands?

Communication and collaboration

Leading a real estate team requires strong communication skills to connect with clients, motivate the team, and negotiate effectively. Consider your communication style. Are your communications clear, empathetic, and authentic?

Additionally, cultivating a collaborative team environment is critical to success. Are you open to feedback, open to different perspectives, and committed to cultivating a culture of trust and respect within your team?

Questions to ask yourself

• Am I good at communicating effectively with clients, colleagues, and partners?
• Do I value collaboration and create a team-oriented environment?
• Should I run away from conflict, or choose to have the necessary difficult conversations?

guidance and support

Reflect on your passion for coaching. Do you really enjoy investing in the success of others and helping them unlock their potential?

As a real estate leader, your role goes beyond transactional expertise. You are a mentor, coach, and advocate for the growth and development of team members.

Consider the resources and support network available to you. Do you have access to training, coaching and mentoring opportunities to improve your leadership skills and address the challenges of leading a team effectively?

Questions to ask yourself

• Am I passionate about coaching and guiding others to reach their full potential?
• Will I have access to resources and a support network to help me on my leadership journey?
• Am I capable enough to proactively engage with my team members and make sure I’m coaching them, rather than just saying I’m going to deliver something and then not being able to deliver it?

Adaptability and resilience

Leading a real estate team requires dealing with uncertainty, adjusting to market changes, and overcoming obstacles with resilience and determination. Consider your adaptability. How do you respond to changes, innovations and emerging trends in the industry?

Additionally, reflect on your resilience. Do you have the mental toughness and emotional resilience needed to persevere through setbacks, learn from your failures, and come out stronger on the other side?

Questions to ask yourself

• Can I adapt to changes in the market and industry structure?
• Do I have the ability to handle challenges and setbacks with grace and determination?

As you think about these key points, remember that leadership is more than just a title or authority. It’s about empowering others, driving growth and making a positive impact on the lives of customers and colleagues.

Seize this opportunity to lead with purpose and passion and watch your real estate business soar to new heights.