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Every company, every team and even every family has a culture that is either accidentally or intentionally created.
If a culture expert were to come into your business and evaluate your team’s culture, what would they find? Do you have a set of core values, and does the team know and live them? Do you have a culture of productivity where everyone is pulling each other up to higher levels of production? Or is your culture lacking energy, focus or worse? Do you accept and foster low production and engagement?
It’s up to you as a leader to set and keep the culture. If yours needs a reset, here are a few things you can do right now to get it back on track.
Teams whose culture is clearly defined and intentionally created not only perform better but they have lower turnover and become attractive for recruiting.
One constant in real estate is that maintaining a positive and productive team culture is crucial for success. However, even the best real estate teams can experience periods of stagnation or negativity. When this happens, it’s essential to hit the reset button and rejuvenate your team’s culture. Here are seven strategies to help you do just that.
1. Assess and define your culture
Begin by assessing the current state of your team’s culture. Conduct surveys, hold one-on-one meetings and gather feedback to identify areas of concern. This process should be thorough and inclusive, ensuring that every team member feels heard and valued.
Once you understand the current culture, define what you want it to look like instead. Consider values, behaviors and attitudes that align with your real estate goals. Involve your team in this process to ensure a shared vision, fostering buy-in and commitment.
This collaborative approach not only helps in creating a culture that resonates with everyone but also empowers team members to take ownership of the cultural transformation.
Here are 10 questions you can ask to assess your team’s culture. Once you have done this, ask members of your team to do the same. Then compare results to see if they see the culture the same way you do.
Core values alignment
- How well do team members understand and align with the core values of the organization?
- Do team members regularly discuss and incorporate these core values into their daily work?
Productivity culture
- Does your team engage in daily huddles to promote communication and productivity?
- Are daily success habits tracked and discussed among team members?
Team engagement
- How often do team members participate in team-building activities or social events?
- Do team members feel valued and motivated to contribute to team goals?
Leadership and development
- Does the leadership provide clear examples and guidance on how to perform tasks effectively?
- Are there opportunities for continuing education and professional development within the team?
Performance measurement
- Are there systems in place to track key performance indicators such as lead generation and transaction success?
- How often does the team review and adjust strategies based on performance data?
Trust and credibility
- Is there a strong sense of trust and credibility among team members?
- How effectively does the team communicate openly and honestly?
Client experience
- How focused is the team on delivering amazing client experiences?
- Do team members have each other’s backs and support one another in achieving client satisfaction?
Innovation and improvement
- Does the team encourage innovation and continuous improvement?
- Are team members open to feedback and willing to make necessary changes?
Work-life balance
- How well does the team manage work-life balance while maintaining high performance?
- Are there systems in place to support team members’ well-being?
Vision and purpose
- Does the team have a clear vision and purpose that motivates them to achieve their goals?
- How well do team members understand and contribute to the overall mission of the organization?
Use these questions to assess your team’s culture and identify areas for improvement using the following 1-5 score in each of the questions.
Understand the Scale
- 1 — Strongly disagree/poor performance: The statement does not reflect the current state of the team, or performance in this area is significantly lacking.
- 2 — Disagree/below average performance: The statement is somewhat true, but there are notable deficiencies.
- 3 — Neutral/average performance: The statement is partially true, with room for improvement.
- 4 — Agree/good performance: The statement accurately reflects the team’s current state, with minor areas for enhancement.
- 5 — Strongly agree/excellent performance: The statement fully represents the team’s culture, with outstanding performance in this area.
Rate each question
- Carefully consider each question and select the number/score that best represents your perception of the team’s performance in that area.
Provide honest feedback
- Be honest and objective in your ratings to ensure an accurate assessment of the team culture.
Submit your responses
- Once all questions are rated, submit your responses for analysis using the following High, Medium, and Low scores assessment.
Next steps based on scores
High scores (4-5)
- Celebrate success: Acknowledge and celebrate the areas where the team excels to reinforce positive behaviors.
- Share best practices: Identify what is working well and share these practices across other areas of the team.
- Maintain momentum: Continue to support and encourage activities that contribute to high performance in these areas.
Medium scores (3)
- Identify improvement opportunities: Analyze the factors contributing to average performance and identify specific areas for improvement.
- Develop action plans: Create targeted action plans to address gaps and enhance performance.
- Monitor progress: Set short-term goals and regularly review progress to ensure improvements are being made.
Low scores (1-2)
- Conduct root cause analysis: Investigate the underlying reasons for low performance and gather input from team members.
- Implement immediate changes: Develop and implement immediate corrective actions to address critical issues.
- Provide support and training: Offer additional support, resources, and training to help team members improve in these areas.
- Re-evaluate regularly: Frequently reassess these areas to track improvements and adjust strategies as needed.
Hitting the reset button on your real estate team culture requires a thoughtful and strategic approach. By assessing the current culture, defining the ideal culture, and implementing new norms and practices, you can rejuvenate your team’s culture and create a positive and productive environment.
In Part 2: Resetting your culture, we’ll go over the six steps to your reset, from communicating the vision and leading by example to monitoring progress, celebrating successes and adjusting as needed. You’ll learn that cultural transformation is an ongoing process that will drive lasting change within your team.
