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Transitioning from real estate agent to business owner represents the most exciting new beginning.
It is a journey that many of you desire.
But proving yourself to be a trusted and respected leader can be more difficult than you initially think, and while business ownership represents a turning point in your career, there are no unforeseen difficulties. It does not mean.
Owning and operating a real estate agency places you in a constantly changing environment with many influential factors beyond your control, including the market and its broader economic influences, laws, and compliance.
In my experience, making the transition from real estate agent to business owner in my 20s was the beginning of a lifelong journey of growth.
I have never doubted that I chose the right path, but it has been quite rough at times.
I have grown four startups and acquired and integrated three other businesses in my career.
Some of my biggest lessons have come from the mistakes and failures I’ve made along the way.
In between the years of successfully building, developing, and maintaining these businesses, there have also been challenges, adversity, and failures to overcome.
But I learned that none of this is permanent unless I give up.
If you learn, grow, and evolve from your mistakes, they will become the foundation for future improvements.
As a real estate agent, your primary focus is on customer interactions and real estate transactions.
Your role as a business owner requires a broader perspective.
Learning how to manage day-to-day operations, staff recruitment, retention and management, administration and finance, performance, productivity, process complexity…the list goes on.
But I believe the two most important qualities of a leader are having a growth mindset and knowing your own leadership style.
Knowing your leadership style can help you build a more inclusive and cohesive team, allowing you to collaborate more effectively by bringing in people who resonate with, align with, and communicate with the way you do things. , can build trust, respect, and increase self-awareness.
This increases your chances of driving success through a combination of core values, goals, beliefs, behaviors, and communication styles.
This can have a significant impact on the quality of your business.
Four main leadership styles (based on DiSC profile)
- Advantage (D): This dimension measures how proactive and results-oriented a person is. Leaders who score high on this dimension tend to be decisive, direct, and task-oriented.
2. Impact (I): This dimension measures how sociable and sociable a person is. Leaders who score high on this dimension tend to be charismatic, enthusiastic, and good at building relationships.
3. Stability (S): This dimension measures how patient and cooperative a person is. Leaders who score high on this dimension tend to be empathetic, diplomatic, and good at managing conflict.
4. Conscientious (C): This dimension measures how detail-oriented and analytical a person is. Leaders who score high on this dimension tend to be methodical, logical, and good at problem solving.
Other leadership styles
Extroverted: Leaders who tend to be sociable, confident, and proactive. They enjoy being around people and are skilled at networking, communicating, and building relationships.
introvert: Leaders who tend to be thoughtful, reflective, and analytical. They prefer to work independently and are skilled at strategic thinking, planning, and problem solving.
Honest: A leader who tends to be organized, reliable, and detail-oriented. They value responsibility and accountability and are often skilled in project management and process improvement.
open minded: A curious, creative, and adaptable leader. They enjoy exploring new ideas and approaches and are often skilled at innovation, strategic thinking, and risk-taking.
Elasticity: A determined, tenacious and adaptable leader. They are able to overcome difficulties and setbacks with a positive attitude and are good at motivating and inspiring others.
empathetic: Leaders who tend to be caring, considerate, and emotionally intelligent. They are skilled at building strong relationships with team members and are often effective at managing conflict and resolving interpersonal problems.
Most people have a combination of these styles, but one type usually stands out.
When you understand your leadership style, you usually find that your natural qualities are the easiest to manage in business.
My strengths lie in communicating, connecting, collaborating, and building trust with my team to create a great culture that is collaborative, fun, and inclusive.
My leadership style meant that the list below is just some of the things I’ve developed over the years as a business owner.
Analyzing this list and seeing if some of your traits are here can help you identify your leadership style and move your business forward.
Prove your ability: Demonstrate to your team that you can fulfill the responsibilities of your role.
Be open to learning: Recognize what you can learn from the experience and wisdom of your team members. Listening to their knowledge, expertise, suggestions and advice will help you build a partnership with them. It also shows humility and a desire to grow and develop.
Effective communication: Developing strong communication skills to clearly communicate thoughts, ideas, and expectations is key to building respect while actively listening to and valuing the opinions of team members.
Facilitate communication: This creates a supportive environment.
Let me explain with an example: We lead by example by setting a positive example through our actions, work ethic and respect, holding ourselves accountable and supporting our growth and success. Your team will only respect and trust you if they see you as embodying the qualities they expect.
Building trust: Investing the time and effort to develop personal connections with your team members is extremely valuable. Get to know them individually, understand their strengths and what they want to achieve, and support their weaknesses to turn them into paths of growth. Doing so shows them that you care about their well-being and creates trust and loyalty.
Seek input through inclusivity: Involving your team in the decision-making process whenever possible, considering their perspectives, and valuing their contributions shows that you value their expertise and opinions, increasing trust and engagement.
Adapt and be open: Be willing to accept new ideas, approaches, and ways of doing things. It helps avoid discounting different points of view. I love collaborating and encouraging innovation, allowing my team members to contribute their creativity to my business.
Dispute resolution: Deal with disputes promptly and professionally to foster constructive dialogue to resolve issues.
Recognition and appreciation: I’ve never had the “I’m the boss, you work for me” mentality. I am and always will be a part of the team. Therefore, celebrating achievements and successes is part of developing a great culture. Recognizing their efforts through praise and recognition reinforces a motivating work environment.
Empathy and sympathy: Gaining respect and trust takes time, especially when leading a team of seniors. Be patient with the process and show empathy by showing understanding and support for challenges your team members may face. Recognize that you can’t just show up and ask for respect, you have to earn it.
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By comparison, the biggest challenges are lack of time management, not paying enough attention to budgeting and forecasting, rapid growth, consistent and prudent approach to recruitment, and not having a proper recruitment plan in place. This arose from things that were not done.
And I got too friendly with the team in my first business.
Being young and a people pleaser had a negative impact on my ability to separate myself as a leader when needed.
Developing leadership skills, building a positive work culture, and aligning team members to the business vision are of paramount importance, and overcoming the learning curve of team dynamics is a challenge both for my business and for myself as a leader. greatly contributed to the maturation of
Each challenge I faced brought new skills, new beliefs, and made me even more confident in myself as a leader.
Taking on a leadership role requires the ability to make decisions and overcome obstacles. This forced me to step out of my comfort zone, but ultimately helped me become a more decisive, resilient, and patient leader.
So the lesson here is that the more you lean into these situations instead of avoiding them, the better you’ll be able to cope with them and become more resilient in the process.
Taking my first step into the world of entrepreneurship, where possibility is the goal and opportunity is one after the other, was the best decision for me in the long run.
As a real estate business owner, you need self-confidence, confidence, tenacity, resilience, understanding, and a never-give-up attitude, no matter what is thrown at you.
Embrace change, be willing to learn, and accept that it won’t be easy.
But if you’re prepared to work harder than ever and go in with the clear knowledge that you can make it work, it’s worth it.
My advice to those considering this path is based on perseverance, continuous learning, and a willingness to accept challenges.
Surround yourself with a supportive network, receive guidance, and be open to evolving your approach.
Age and experience should not be a hindrance. Instead, leverage the unique perspective and energy you bring to your business.
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