Guiding Principals: How to Develop Your Leadership Qualities

Whether you’re managing a small, local group of agents or leading a large metropolitan agency, effective leadership qualities will elevate your career and guide your team toward success.

By Annika Tourlas

5 Qualities of an Effective Leader

Empathy
Curating an ideal work culture throughout the office starts at the top. Understanding and sharing the feelings of your team members can foster a supportive and cohesive work environment.

“The industry itself has plenty of changes and personalities involved. You got to practice the empathy to have other qualities come out,” says Jim Fain, CRS, managing broker and co-owner at Fickling & Company Lake Country in central Georgia. “I think it’s knowing who you’re talking to. Don’t talk down to people—build people up.”

When agency and team leaders express empathy, regardless of company size, employees are more likely to openly communicate their challenges, visions, success stories and critiques. Providing this information is vital to an organization’s evolution and progression toward personal initiatives and brokerage-wide goals.

Transparency
Clear and open communication is the backbone of effective leadership. Defined goals and expectations improve a team’s chance of success when dealing with pressing timelines and clients who require undivided attention.
Withholding information or promoting a secretive work environment can fuel harmful competition when collaboration and team support are integrative to overall and long-term success.

Adaptability
The real estate market is constantly changing, and a successful leader must be adaptable. Being open to new ideas and willing to pivot strategies when necessary helps maintain performance. Adaptable leaders can guide their teams through market fluctuations, negotiations and unexpected challenges with the poise and confidence clients seek from real estate professionals.

Integrity
Integrity is the foundation of trust. Since real estate involves large transactions and financial investments, integrity guarantees that ethical standards and principles are upheld.

“You’ve got to be able to do anything that you do the same way in front of anyone and be able to do it correctly, and you’ve got to be able to be held accountable no matter what you do,” says Susanna Boyer, CRS, managing broker at Pure Reality in Austin, Texas. “You’ve got to show your agents how things are done correctly, and you’ve got to be able to do them yourself as well.”

When a person in power demonstrates a lack of integrity, those characteristics are often mirrored by their team, potentially damaging the brokerage’s reputation. On the other hand, when a leader values integrity and ensures that it’s reflected in everything they do, a positive reputation is reinforced throughout their market.

Innovation
An effective leader has a clear vision for the agency while embracing innovation to empower creativity and develop their craft within an ever-changing market.

This forward-thinking approach helps identify and capitalize on emerging trends, improve operational efficiencies and offer clients unique solutions that stand out. From attending industry events to listening to the ideas of their employees or peers, leaders can bring innovative strategies to the plate, ensuring sustainable growth and success.

How can I become an effective leader?

Becoming an effective leader in real estate requires some innate qualities, but continuous personal growth and a commitment to developing essential qualities that inspire and drive success are vital. There are numerous approaches to enhancing your work as a team leader, role model, manager and industry expert, including:

• Regularly seek and encourage feedback
• Embrace continued education
• Practice active listening
• Network with other leaders
• Practice real-world situations

The importance of an effective leader
A leader can make or break a team. Teams respond positively to leaders who possess the right qualities. When leaders hold themselves to high standards and embrace communication, empathy and integrity, team members do the same, staying motivated and productive.

Meanwhile, poor leadership can lead to confusion, missed opportunities, high turnover rates, low morale and conflicts, ultimately hindering the team’s success.

“Great leaders lift people up and help the agents that truly want to work and change their lives. Serving clients is important but also serving agents is just as important,” says Fain. “A great leader thrives off the energy of those around them, and hopefully they see great things. If they respect you as a leader, if you’ve got great morals, values, principles and energy, they’re going to come to you and try and emulate those parts of you.”

However, the best leaders balance sensitivity and tenacity. Sensitivity ensures leaders understand and address their team’s emotional and professional needs. Tenacity, on the other hand, enables leaders to persevere through challenges, maintaining focus and determination. This combination nurtures a resilient, motivated team, effectively balancing empathy with the pursuit of success.

“There’s no wavering on contracts, real estate law, those kinds of things. It doesn’t matter if it’s that agent that sells one house or 50, there’s no wiggle room there,” says Fain. “But if you help those agents based on how much commitment they’re giving the industry and be better on those non-wavering things, it just makes your brokerage run smoother.”

The impact you have on your team should always be a top priority. Yet, your leadership style also affects your clients. When a team is well-managed and motivated, clients receive superior service. Clear communication, ethical practices and a commitment to excellence translate into successful transactions and satisfied clients. This, in turn, enhances the agency’s reputation and attracts more business.

By fostering leadership skills and supporting aspiring leaders, real estate professionals can create a positive impact on their teams, clients and the industry as a whole.

“The thing I have found that is important is that leaders need to be lighthouses, not weather vanes. You can’t change every time the winds blow on the important things like culture,” Fain says. “But the people look for you in times that need clarity to be a solid lighthouse, projecting a beacon of light that is steady and true to guide them.”