A team at Google wanted to explore what types of people and qualities make up the “perfect” team. They studied 180 teams (115 project teams in engineering, and 65 sales pods), and ultimately defined 5 aspects of effective teams. We will explore these 5 dynamics, what they mean for a real estate team, and how you can implement them to improve your team efficiency. First, let’s take a look at how they measured “effectiveness.” The concept of effectiveness naturally varied between the executives, the team members, and the team leads. Executives were primarily concerned with results/numbers, team members were concerned with team culture, and team leads noted “ownership, vision, and goals,” as the most important measure. Combining all of these perspectives, the Google Team measured team effectiveness in the following four ways:
For more details on the metrics of the study click here. The study ultimately defined these 5 concepts as the most important dynamics of effective team. Let’s explore those 5 concepts a little further and consider them in the context of your real estate team. This was the most important indicator of an efficient team. But, what does it mean? Essentially, it is the belief that you won’t be punished for making a mistake. This in turn encourages moderate risk-taking, creative exploration, open-sharing, and a culture of trust. Real estate teams are a unique combination of teamwork and self-motivation. The best teams know how to work well together and leverage one another’s time and skills so that everyone performs better. However, at the end of the day, agents are closing their own deals, making their own commissions, and healthy competition is natural. Everyone wants to be the top producer. Don’t let this healthy competition become toxic for your team! As a team leader, you have the ability to cultivate psychological safety. Here are a few strategies that you can implement:
Tips from Google: Learn more about psychological safety in the workplace from Amy Edmondson’s TED Talk below! In a real estate team, dependability matters in two ways: internal, and client-facing. Internal dependability: This means, all team members can depend on one another for pulling their weight, completing their tasks, and moving the business forward. If one agent goes on vacation and is relying on another to handle some lead follow-up, the agent on vacation can depend on their teammate to help out. Dependability = effective team. Consider adding dependability to your team’s “core values,” and emphasizing the importance of being dependable when interviewing new agents. Client-facing dependability: Agents are not only the face of their own brand, but they are representatives of your real estate business. Agent Andy works for Beachfront Realty, and his leads don’t find him dependable. He disappears on Fridays, he takes too long to respond to emails and texts, and he was late for a showing. When a client reviews Agent Andy, the negative review effects Beachfront Realty as well…perhaps resulting in fewer clients for every other agent. Lack of dependability = inefficient team. As a team leader, if one team member is showing a lack of dependability, address it immediately. Maybe pay more attention to their lead follow-up, and hold them accountable for their workload. If the problem persists – they may have a negative effect on your team, and consider cutting them loose.
Tips from Google: 3 Easy Methods to Install a Culture of Accountability in the Real Estate Office The best work comes from clearly set goals. There is no lack of clarity surrounding what is expected from the very beginning. As a team leader, make sure that every member of your team understands the goals of the business, and that you understand their personal goals in real estate. Google recommends setting goals that are challenging and specific. Learn more about how to implement Google’s “Objectives and Key Results (OKRs)” here. So how can you set clear expectations for your agents?
Tips from Google: These last two concepts are pretty simple. The most effective teams share a common sense of meaning. Team members feel that their work is personally important. In a real estate team, this boils down to passion for what you do. Real estate is not an easy business! They say between 75-87% of agents fail or quit within the first year. The ones that succeed, are not only driven and motivated to be successful, but they tend to love what they do. When building your team and hiring new agents, be sure to find out what motivates them. Is it just dollar signs? What drives them, why do they want to work in real estate, and how do they plan to succeed? According to Inman, these are 7 qualities of the smartest real estate agents:
Tips from Google: Do your team members feel that what they do every day matters? According to the study, “impact” is the final top indicator of an effective team, or, knowing that their work matters and creates change. Human beings are driven by helping others. Luckily for you – real estate is an inherently positive exchange between client and agent. Agents are part of a big life decision, and they have the ability to help make it an enjoyable and memorable experience. Getting someone into their dream home is pretty special! In order to further cultivate a sense of “impact” for your real estate team, consider ways that you can give back to the community. Not only will each team member feel a sense of joy for giving back, but it’s also a great way to bring the team closer, and encourage (#1) psychological safety! Here are a few ideas to get you started:
Tips from Google: Project Aristotle
The Results
1. Psychological Safety
Signs that your team needs to improve psychological safety:
Questions to ask yourself:
2. Dependability
Signs that your team needs to improve dependability:
Questions to ask yourself:
3. Structure & Clarity
Signs that your team needs to improve structure and clarity:
Questions to ask yourself:
4. Meaning
Signs that your team needs to improve meaning:
Questions to ask yourself:
5. Impact
“If you want happiness for an hour, take a nap. If you want happiness for a day, go fishing. If you want happiness for a year, inherit a fortune. If you want happiness for a lifetime, help somebody.” – Chinese Proverb
Signs that your team needs to improve impact:
Questions to ask yourself: