Why Building A Culture Is Important Within A Real Estate Organization

12.07.18 09:30 AM By Jesse Garcia

Every business has a culture.

It’s not something you choose to have or not.

Culture always exists, regardless of how much effort you put into creating one.

So what is a business culture?

It’s a set of rules that governs people’s behavior: how to act around colleagues, how to act around clients, what to value, what to focus on, etc…

As the person who runs the company, you have a lot of influence on the company culture.

Why is this is important?

Well, culture is often seen as the glue that holds a company together. Any business -- and certainly a real estate business -- consists of many different individuals.

They all have their own background, their own ideas and their own culture that drives their behavior and the way they contribute to your bottom line.

If the way they do business does not have a consistent culture behind it, you’re likely to lose out. Your brand will suffer. You’ll find it hard to differentiate yourself from competitors.

So that leads us to the question: What kind of culture do you want your business to have?

There’s many kinds:

Competitive

Harmonious

Focused on quality

Focused on customers

Focused on results

Collaborative

Open

Closed

Modern

Traditional

There’s an infinite number of possibilities here, so take some time to go through this.

You as a business owner set the tone -- and your agents follow.

So rather than letting other people set the tone, your business will run much better if you take control and build the culture you want -- day in day out.

How to develop your real estate business’s culture

The best way of establishing a culture is going back to your core business values. Check out this article to get an idea of how to create a vision and values for your team.

Now, once your values are clear, you can start implementing your culture.

Bear in mind this is a slow-burning process… so don’t expect results within the first week.

But do expect results within the first few months.

Here’s a few things you can start doing today:

1. Set out the culture you want in a crystal clear way

You can do this in any way you like -- it can be a one-page document of text or you can knock together some graphics.

In any case, the culture you want to achieve has to be so clear that it can’t be interpreted any other way. Get everyone in a room and present this to them. Have them discuss what would need to change to implement the culture you want.

2. Work on your own behavior

You’ll have to embody the company culture -- if you don’t show you’re taking this seriously, your agents will immediately pick up on this. They’ll just disregard the new culture you’re trying to implement and will carry on as before.

You need to embody the culture -- that’s the only way to get others to follow your lead.

3. Set goals in line with your culture

This is a big one -- when you’re setting goals, whether it’s for an individual, a team or the entire company, it’s very important to make sure these goals align with your culture.

That they embody your culture. That they are at one with your culture.

This will provide the consistency in your business that you need to show to clients, to other real estate businesses, to potential recruits, etc…

The clearer you make your culture, the easier it is to build the image you want to radiate.