Building a Successful Business Team: Recruitment, Training, and Retention

If you want to build a successful team in real estate, or any competitive industry, you need to consider all facets of your hiring, training, incentive, and retainment processes. It’s no secret that a strong team supports a strong business, and if you want to get ahead, who and how you hire, how you value training and continuing education, and how you show appreciation for your employees’ hard work matters. Let’s examine some strategies for building and maintaining your ‘dream team.’

Finding and Recruiting Top Talent

For top-notch business outcomes, you need top-notch talent on your team. There are several ways you can find the talent you’re seeking, no matter what industry you’re in. First, tap into and leverage your existing professional networks. This is where you’ll find seasoned professionals and up-and-comers. Encourage your team members to use connections and take advantage of industry events. Conferences and events are great places to identify potential candidates for your team. You can also collaborate to host these events or offer sponsorship that puts your business in the spotlight.

Online platforms are another terrific source of talent. Look for A-players on LinkedIn and showcase your business in ways they’ll be sure to see. If you have a robust, consistent social media presence, talent will begin to engage with you. Social media groups for industry professionals are another place where you can tap into the talent pool. People who thoughtfully engage in conversation and debate about relevant topics are people who will advocate for their values and ethics in real life.

Tailoring Recruitment for Commercial Real Estate

I’ve made my living as a commercial real estate broker for many years now, and one of the best things about this industry is the wealth of skilled, knowledgeable salespeople. Here’s what I look for when recruiting new people for our brokerage: 

  • Commercial real estate experience and expertise
  • Outstanding interpersonal skills
  • Negotiation skills
  • Market awareness
  • Client relationship management skills
  • A positive outlook and growth mindset

Putting Effective Training Initiatives Into Place

A team is just as solid as the knowledge and training behind it. We’ll be examining training strategies for real estate professionals as an example, but you can adapt these ideas for any industry or sector. You want to make sure that your team is well-equipped to not only handle the technical side of your business, like regulatory compliance and industry-specific standards and guidelines, but also the day-to-day operations and customer service aspects of their tasks.

Consider the following and think about how you can apply these types of training to your business: 

Technical Skills Development

Real estate professionals must possess a robust set of technical skills to excel in their roles. They must be proficient in using industry-specific tools, staying updated on legal frameworks, and understanding financial modeling for completing transactions. Provide hands-on workshops and/or offer the opportunity to take online modules focusing on the latest real estate technologies, legal updates, and financial analysis tools. Encourage your team to participate in industry conferences and seminars to further enhance their technical expertise.

Customer Relationship Management:

Successful real estate transactions rely on effective, authentic customer relationships. Training should emphasize the importance of building and maintaining strong client relationships, understanding client needs, and delivering exceptional service. Training experiences that simulate real-world interactions—things like role-playing exercises, case studies, and mentorship programs—can boost interpersonal skills and teach a more customer-centric approach.

Market Trend Analysis

To succeed in the real estate market, professionals must stay attuned to market trends, emerging opportunities, and potential challenges. Training needs to focus on skill development in market trend analysis and strategic decision-making. Incorporate regular market analysis sessions into your regular training curriculum. Real-time market data, case studies, and scenario-based exercises foster your team’s ability to interpret and respond to market dynamics.

For those of you in other industries, consider the cross-sector applicability of these examples. Technical skills, interpersonal skills, critical thinking, and a strong customer focus won’t lead you astray, no matter what sector you’re in.

Ensuring High Employee Retention

When you have to best people, you want to hold on to them! The number one thing on this list of retention strategies should be competitive compensation and salary structure, but I’ll go ahead and assume that you’re a terrific leader who always pays their employees what they are worth. With that in mind, let’s look at some other ways you can keep your dream team happy and on the job. 

  • Creating a Positive Workplace Culture: Make your place of work a place where people feel safe and supported. The keys to this are open communication, mutual respect, and shared goals and values. Team-building activities can be fun diversions, but the everyday aspect of positivity through respect fosters a culture where people feel valued and invested in mutual success. Promote regular feedback and encourage your team to prioritize work-life balance. 
  • Offering Professional Development Opportunities: An investment in your people is an investment in your business. Combine your need for robust training with your desire to retain your talent with professional development opportunities. This shows your employees that you value their talents and have the confidence in them to take strides toward advancement.
  • Recognizing and Rewarding Achievements: Celebrate your people! Give out bonuses and incentives for outstanding achievements. Get a cake and give a gift when someone achieves a new certification or degree. Recognize an Employee of the Month. You can’t go wrong when you treat your people right, and they will appreciate you as a leader if you show your appreciation for their efforts. \
  • Be Flexible and Compassionate: Encourage and allow flexible work hours for good employees who have to adjust to major life changes. Give someone an extra paid day off when they’re going through a tough time. Be kind, compassionate, and flexible when life gets a little sideways. Use the Golden Rule, and you’ll have a loyal workforce that believes in you as much as you believe in them. 

Closing Thoughts on Building Your Dream Team 

Building your dream team isn’t a one-and-done endeavor. You should be constantly striving to find top talent for your business. With the right recruitment techniques, training methods, and approach to retention, you’ll be well on your way to having a team full of A-players who align with your values and use their skills to help your business grow and thrive. Take time to review your practices and make adjustments where necessary on your road to recruiting, training, and retaining the best team for your business. 

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