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There’s an ancient saying: “May you live in interesting times.” No two ways about it, the last two years have been very “interesting” for the real estate industry.
On the one hand, we’ve enjoyed an extraordinary boom, the likes of which most people have never experienced. On the other, the pandemic has had a massive impact on how we do business. Overnight, everything changed, as face-to-face was replaced with virtual and kitchen tables were converted into offices.
Change may be inevitable. But it can also provoke anxiety – especially when a large amount happens in a short space of time. And while it’s easy to be a good leader when things are going well, it’s been a different challenge during COVID.
So what can principals do to support their agents through both the changing market and the strange world in which we’re now living?
Be nurturing
Everyone’s different. So while some agents have thrived in the new normal of virtual tours and Zoom meetings, others have struggled. In my conversations with One Agency principals around Australia, many have told me that COVID has had a big impact on agents’ personal lives, which in turn has affected their job performance.
That’s probably not a surprise. For any agent used to working in a busy office, it may have felt isolating when they found themselves working alone for months on end.
Then there are the additional personal challenges of dealing with vaccinations, homeschooling and, maybe, a diminishing income.
My advice? Remember as a leader that your interpersonal skills are just as important as your sales skills. So nurture your agents by:
- Spending more one-on-one time with your agents to keep up their morale and make them feel valued
- Working hard to make all your agents feel like part of the team – not just the ones with the highest GCI
Leading sales coach Charles Baynie also recommends that principals and sales managers spend more one-on-one time with their agents. He says these sessions are key to understanding that the face your agents present at work may be completely different to what’s going on behind the scenes.
Survival tips for a changing landscape
Everyone’s had a lot to deal with over the past two years – from the continued rise of technology to the personal challenges brought about by the pandemic. And more changes are on the way, in the form of the upcoming federal election, a slowing market and potential rate rises, which, when combined, is a formula for change.
While no one can predict what’s ahead of us, here are my three survival tips for the year ahead:
- Brace yourself for change, and remember that the best way to manage it is to make smart decisions and show good leadership.
- Consider working with a good business coach so you can deal with whatever comes to pass.
- Make sure your business is sustainable and your costs are under control. Remember, it’s not what you make; it’s what you keep that counts.
Paul Davies is the founder and chief executive of One Agency.
ABOUT THE AUTHOR
Paul Davies
Paul is the founder and CEO of One Agency.
He offers real estate professionals an opportunity to reap the financial rewards of going it alone, with the security (and clout) of an established brand.
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