Why is team building so essential for real estate investors and investment companies? Furthermore, what can you do to effectively improve the relationships you already have? Establishing relationships in the real estate industry can maximize profits and make the process more enjoyable. So make sure you invest a good amount of time in the people around you.
Team building is critical for all real estate investing pros, not just large corporations. It doesn’t matter whether you have franchises and affiliates all around the globe, a single location with a sizable in house team or you are working from home with the help of a virtual assistant; team member engagement is vital. In fact, it even applies to strategic partners, referral agents and key vendors.
Team building and engagement is vital to any thriving business. Staff engagement and team building is essential for the following:
- Keeping up motivation
- Building loyalty
- Spurring high productivity
- Continued growth
- Efficiency and profitability
- ROI and net profit
Seven ways real estate investing companies can increase engagement in their organizations:
- Regular performance reviews
- Ensuring the company vision and mission is spread, visible and bought into
- Letting team members know that they are a part of something bigger than themselves
- Showing individuals how they affect and can positively impact key metrics
- Team building activities such as fitness, yoga, retreats, etc.
- Team outings to seminars, conferences and events
- Listening, soliciting suggestions and empowering staff to pursue their own ideas
However, one of the easiest, fastest, most affordable and effective tools for increasing employee engagement and collaboration is through regular updates. These broadcasts can be printed and passed out, emailed or posted to the real estate investing company’s online intranet or cloud database.
What to include in your updates:
- Reaffirm the real estate investing company’s vision and mission
- Key metrics
- What’s working
- What’s not working so well
- Special thanks
- Incentives and bonus opportunities