Almost everyone has worked with a poor leader. Perhaps they failed to make the tough decisions or maybe they made them and got them wrong each and every time.
Similarly, if you’ve worked with a great leader they stick in your mind too – for all the right reasons.
With so many leadership styles and schools of thought out there we picked the brains of leaders in the real estate industry to find out what attributes they think make a great leader, how they inspire their team and what they do when things get tough.
Ben Riddle – Principal, Buxton Newtown
What attributes make a good leader?
Some of the best attributes good leaders have are great vision and direction in what they want to achieve. They can communicate this well to their team and receive fantastic buy-in.
Great leaders have a high level of appreciation for their team members, as well as a ‘service’ mentality. Great leaders have self-awareness and humbleness in how they carry themselves. The best leaders eat last.
Detail a time you lead your team well and how it helped them and the business?
The COVID-19 lockdown was a unique time where every aspect of your leadership and business was challenged.
It was unknown territory where you had to make decisions based on values and gut feel. You had to try and draw on past experiences to get you through.
We had five offices and 70 staff to support, and we made a very early decision that we would try and get everyone through to the other side regardless of how long it went and how bad it got financially.
As a business, that was one of our proudest achievements and it had nothing to do with how many properties we sold or leased. People looked to management to respond and lead the way.
How do you keep your team motivated in difficult times or when the market is slow?
We are always hungry to be the best version of ourselves and stay in front. The past two years have seen us overhaul our remuneration structures in sales and property management, add two more offices and purchase two rent rolls to take us to 3000 doors under management.
We are now implementing a new dress code and updating our brand guidelines. If you’re staying still, you’re probably losing ground to your competitors.
The next 12 months will see us open three new businesses in greater Geelong and add mortgage broking to our service offering.
Explain a time you failed as a leader and what you learnt from the experience?
I’ve learnt over the journey that culture is king. And you are not as handcuffed to the million-dollar sales gorilla as you think.
While the dollars are always attractive, your overall team growth is compromised, and other team members don’t flourish and grow. These people can hijack your business and often succeed through the suppression of others.
Go for the team approach and let them all grow instead of changing your philosophies and processes to please the individual. The fear of loss can be paralysing, but the moment you lose it is liberating.
How do you continue to grow and improve as a leader?
I remember before Buxton Geelong Group started, Brian White said to me, “What do you want?” and I didn’t know.
Unless you know what you want, you can’t build, lead and execute a plan to achieve it. You need to know your ‘why’.
Effective leadership starts with having the end in mind and knowing what you want to get out of what you are doing. Be humble and grateful that people are choosing to work with you versus someone else.
This will always set the right tone for your business, which will be underlined with gratitude and an appreciation for what you have versus what you don’t have. Finally, in this industry, you need to have self-belief and self-worth because, without them, you will get chewed up.
Kate Smith – Director, Harcourts Smith
What attributes make a good leader?
Many leaders can talk the talk, but I think fewer are prepared to walk the walk. A good leader must be willing to do exactly what they expect from others.
A great leader will help their staff through opportunity and be out there in the trenches with them, at the weekend opens, training sessions, auctions and listing appointments.
Being a business owner and a selling agent too, you understand the obstacles involved, and you are not just sitting behind a desk giving orders, you are out there with the team.
Detail a time you lead your team well and how it helped them and the business.
Two days before the South Australia COVID-19 lockdown, we were set to host three auctions over the upcoming weekend. I held a meeting with the sales team and informed them that we would move all three auctions forward.
We hit the phones, door knocked and worked cohesively as a team to successfully sell all three properties the next day via public auction. It was an on-the-spot, reactive decision that caused us short-term pain for long-term gain and gave our clients great peace of mind.
How do you keep your team motivated in difficult times or when the market is slow?
During slow or difficult times, we don’t change our regular routines. We ensure we keep our weekly meetings with accountability and open conversations.
We brainstorm new ideas, look for added marketing initiatives, implement cash rewards for phone call sessions and host one-on-ones to discuss the issues the staff are facing.
We break it down to one step forward at a time. Action trumps everything!
Explain a time you failed as a leader and what you learnt from the experience?
Previously I was quick to fill a seat, especially when someone left my team. I would look to obtain a new staff member promptly, and this person was not always the right fit.
I learnt that making a decision too quickly could be detrimental to my team and that always ensuring I have the correct person is what is best for the business, even if it takes time to find them.
It’s not always about having the most people, but the right people.
How do you continue to grow and improve as a leader?
I continue my weekly training with real estate coaching sessions. I expanded my team to three and now always ensure to employ the right people to support me.
I implement quarterly reviews of business goals, including my staff’s goals and expectations, to ensure we all have a shared vision and feel part of the dream. I also make sure my team feel recognised and praised for each win they have.
