The 2021 Deloitte Global Resilience Report highlighted five key traits that leaders built into their companies to create resilient cultures.
Those who did were more likely to survive the chaos and position their company to thrive going forward. These five key traits have been adapted for real estate to help estate agencies build a resilient culture moving forward.
Plan for uncertainty. This means evaluating your clients, understanding that not all business is good business, sometimes bad landlords and sellers need to be moved on, keep overheads low and money in the bank to remain profitable and weather the storm.
Versatile employees were the key, especially with the changing landscape of 2020. Hire for adaptability. Go as far as having an award to recognise the most adaptable employee.
Collaborating within your company speeds up decision-making, helps mitigate risks, leads to innovation and builds trust between management and employees. Remove the walls between sales and property management and have employees collaborate to serve customers.
Improving internal communication and transparency within the company builds trust. Look at ways management can report to employees around company goals, internal projects, staffing and problems that need to be solved in order to run a successful real estate agency.
In 2020, we were literally “all in this together”. In 2021, businesses are expected to continue social responsibility beyond the bottom line. Think about what your real estate business stands for; employees want to work for a company that stands for more than profits and does good work beyond donating a novelty-sized cheque.
Steve Osborn is co-founder and sales director at Identity Marketing.