One of the biggest challenges when it comes to real estate recruitment is differentiation because, at the end of the day, all real estate brokerages are the same. The work is the same, the compensation packages are competitive, and technological solutions are widely accessible. Thus, it can be difficult to distinguish yourself from your competitors and attract top-performing real estate agents.
The good thing is that while differentiation can be difficult, it’s not impossible to achieve. In particular, company culture is a defining element in providing the kind of recruitment real estate agents want: something unique and beneficial for their careers. In short, if you want to stand out, you need to pay extra attention to your brokerage’s culture.
If you haven’t determined yours yet or perhaps feel like there’s a need for change, here are some tips to help you develop a stellar company culture:
Determine What You Want It To Be
Before you can establish a company culture, you must first define what it actually is. Determine the things that matter most to you as a brokerage, whether that’s giving back to the community, innovation, or professional growth. Make sure to involve your employees in this process; after all, they’re the ones who are expected to embody and uphold these values.
Once you’ve outlined these values, you can then start working on how you can foster them within your company. You may need to make changes depending on what you’ve already been doing, using the list of values as a guide to direct your actions.
Get Employee Feedback
As previously discussed, your people’s voices are crucial when developing your company culture. Remember to ask not just what they want this culture to be, but also what they like and don’t like about the current system. If they love what’s going on, build on it using the above-mentioned list of values. If not, reinvent your culture completely.
A simple way to get employee feedback is to conduct surveys. Are your agents getting the support they need? Do your people feel that they can freely talk to their superiors regarding any work concerns? In fact, it may be wise to ask important questions first before having consultations. This way, you’ll have a clearer direction when you have face-to-face discussions with everyone.
Make It Meaningful
Nowadays, a job is more than just a source of income for many employees. It’s also a source of meaning and purpose. In fact, these two factors have a big influence on job satisfaction and productivity. It might seem superficial, but the fact is that people perform better at things that make them feel good about themselves. Besides, without meaning and purpose, it will be difficult for you to define and build a culture.
To support this, create a mission statement and give specific examples as to how employees can contribute to this mission to make a difference. Don’t forget to itemize your brokerage’s core values as well. These—your mission statement and core values—are also important when defining your brokerage’s goals that go beyond business growth.
Ensure Employee Wellness
A popular saying in the world of business goes: “A company is only as good as its employees.” In the same manner, a company is only as healthy and as productive as its employees. If you don’t take good care of your people, you won’t be able to achieve your goals—much less foster the company culture. Again, it’s your employees who are going to be the embodiment of this culture. If they aren’t feeling their best, they won’t be able to contribute in the way that both you and they want.
For your employees to be able to uphold your brokerage’s values and culture, make sure that they’re taken care of in a holistic manner. Provide support wherever you can, but especially with regards to mental and emotional wellness.
Recognize a Job Well Done
It’s only natural for people to want recognition for a job well done. You don’t even need grand gestures and gifts (though they’re certainly welcome); what you need to do is show genuine appreciation to make your employees feel valued and respected. In fact, an honest compliment can go a long way to motivate someone.
This is an important element of creating a supportive work environment, which then helps drive and strengthen your company culture.
Measure Your Progress
Whether you’re starting from scratch or making changes in your existing culture, it’s important to measure your progress. Conduct an honest evaluation of whether things are working as they should or not. Transparency is important here; if something needs to change, tell your people why and how you’re planning to approach it.
Finally, remember that developing a company culture takes time and effort. Moreover, it starts from within so don’t feel frustrated if the public doesn’t immediately notice. Developing a positive company culture, first and foremost, is for you and your employees.
Just focus on cultivating and improving your brokerage into the workplace you want it to be. Soon enough, more and more real estate professionals will be eager to join your team.
