LOS ANGELES, CALIFORNIA: Sportsmanship Matters (Photo by Getty Images/Bob Riha, Jr.)
In the world of commercial real estate, the level of success of everyone involved often depends on the strengths of the brokerage team. While I’ve seen this happen many times in my investment sales field, I’ve also observed the importance of team building in other industries and segments. If the team in place lacks structure or is not cohesive, it can be difficult to accomplish tasks and achieve overall goals.
During my 25-year career in real estate, I have had the opportunity to design team dynamics and develop systems leading to A-level performance. This requires good vision, as well as focus on communication and an open culture. With a well-thought-out strategy, you can build a team ready to work together so everyone can win, then set aside time to celebrate milestones.
Follow these steps to build an A-level team:
1. Prioritize collaboration on projects
In the world of commercial real estate brokerage, it can be easy to hide information from teammates if commissions are individualized. Competition to generate more business often becomes fierce, and staff members may intentionally seek to gather information that they can use personally to advance. Individual gains can even come at the expense of their teammates.
When I started working at Avison Young As Director and Head of the Tri-State Investment Sales Group in New York, we have developed a system that encourages team members to support each other. Wins are evenly distributed across the team, so everyone can succeed together. In this way, individuals are more likely to share ideas and information with others. They know that if their insight leads to a victory, the entire team will benefit.
2. Integrate ongoing communication into work days
At Avison Young, our team meets regularly to discuss what’s happening in the market. We listen to staff members’ expertise as they present the most recent data and reports. We encourage everyone in attendance to talk about what they are working on and how we could improve. By doing these check-ins, it is possible to build trust and relationships between team members.
3. Conduct group performance evaluations
In my line of work, we regularly conduct 360-degree feedback, which involves each team member carrying out a self-assessment. Everyone also receives feedback from their peers and supervisors. This creates a holistic view of team member performance. It also gives individuals the opportunity to become self-aware and identify blind spots. Through these assessments, team members can observe the impact of their actions and behaviors on those around them.
4. Connect new workers with a mentor
When I started my career, I was incredibly lucky to have two experienced professionals, Bob Knakal And Paul Massey, to guide me. By sitting next to them and watching them carry out the work assigned to them, I gained an immense amount of knowledge and insight. Being able to take on assignments under their guidance and hearing their feedback allowed me to develop skills that I still use today.
Establishing mentors in the workplace can make it easy for new team members to ask questions. The mentor and mentee may agree to meet periodically to discuss current events, as well as ideas for future career goals. A mentor can also help a new employee adapt to the team culture and find their role.
5. Look for complementary traits
As you add new members, think about the strengths they will bring to the team. A team with different areas of expertise can add value to every project and objective. As a leader, you will be able to delegate tasks to individuals based on their niche. You can refer to team members who are specialists in their field. This arrangement helps ensure high quality and also gives staff the opportunity to learn from each other.
6. Encourage continuous learning
From books to podcasts, media, regular conferences and more, I’m constantly looking to learn more about my industry. For today’s professionals, the importance of information gathering also extends to technology trends like AI and automation. Seeing what leaders and innovators are doing can make it easier to adapt and be flexible in changing industries. When you emphasize team learning, you can create value as members become experts and bring new ideas to the group.
Building an A-level team takes time, and if you’re just starting out, it could start from your first hire. Over time, as you create a culture that encourages feedback, discussion, and collaborative efforts, you will be able to produce and achieve an exponential amount. When team members help train others and become experts in their departments, collective victories can be a reason for everyone to celebrate.