Being a successful real estate professional requires more than just having the right qualifications and experience. In order to truly succeed, you need to look and act like a natural born leader.
On this week’s Mindset for Success podcast, Marti Hampton discusses the Top 10 Skills Needed to Look Like a Natural Born Leader in the Real Estate Industry. In this blog post, we’ll take a closer look at these skills and why they are so important.
Before we dive into the skills themselves, let’s talk a little bit about why they matter. The real estate industry is highly competitive, and clients have plenty of options when it comes to choosing a real estate professional to work with. If you want to stand out from the crowd and win over potential clients, you need to have the skills and qualities that make you look like a natural born leader. This will help you to establish trust, build relationships, and ultimately close more deals.
Watch the full video below!
Hey, everybody, thanks for joining me for Thursday. 20 minutes with Marti Hampton to talk about real estate.
Today I’m going to go over the ten skills that I think are needed for leadership. And this would count for leadership in any type of business. But I want to tell you, of course, my business is real estate, and I’ve been a team leader for a very long time. And I want to share with you some of the things that I’ve learned over the years.
Development of Communication Skills
I wrote down some thoughts about the ten skills and the first one I wanted to talk about was just the development of your communication skills and to be in real estate, you need to be a great communicator.
Now, when I say that most people think about speaking, maybe they need to be a great public speaker, they need to be great at presenting, and those things are important. But the number one skill of a great communicator is intense listening, active listening, listening. Your client, your customer, whoever you’re working with, must believe that you’re fully focused on listening to the intent of their conversation.
And years ago, I gave a presentation at the Raleigh Board of Realtors, and it was actually on listings. And I may have told you this before, but it was a funny day because there was there’s a great agent there that I still love and adore. Oh, but she is a talker. She was a cheerleader in high school. I mean, she is just wide open out there all the time.
And so one of the first things I said was when I arrive at a listening, I introduce myself. I say, “Thank you for inviting me to your home. Would you like to go over marketing the home or would you show me through your house to begin with and let the customer decide and then let them what?” They usually walk me through the house and then let them tell me every detail they want to tell me about each room.
And by listening to them and I’ve got this funny little quirky habits. I’m an old salt like an old sailor. I look into their left eye and I and I listened intently when they tell me like, oh, we, we did this bonus room ourself. And that’s the reason it’s Pepto-Bismol pink, you know. So and I smile, but I have a rule.
I don’t talk, I listen. And I’ve often said that when I use this skill effectively and I’m working with a husband and a wife, I’m probably given that husband and that wife maybe more listening time than they’ve gotten in the last ten years from their their own spouse. Believe me, intent listening is what you do when you’re on the first date, not after 15, 20 years.
So it’s a skill and you can’t be thinking about your next conversation, what you’re going to say. And so after I got finished with that presentation at the Raleigh Board of Realtors, this agent, my cheerleader friend, she said, Oh, Marti, I could never do that because when the door opens, the agent starts talking and they’re going, you know, 90 miles an hour and they don’t take time to listen.
So I say the number one development communication skill that you need to work on is listening. And then the second one is just your curiosity. You know, if you’re all about you, you’re never really going to build what you need to build in business, especially in real estate. So be curious about the people and their goals. And all this goes under the developmental development development of your communication skills.
So it’s not what you can get out of them. I think you remember when you go into the department store and you see that person there who leaps on you and says, “Can I help you, please?” And what your first reaction is, no, I’m just looking. And that’s the way agents seem to clients when they don’t take the time to really get in step with their client and find out.
Be curious about what’s where they are, what makes them tick, where are they in the home buying process. So find out if you can help them. That’s that’s the reason you’re there. And then respond clearly and confidently with really straightforward language. None of this. Oh, we’ve got shortcuts in real estate. Let’s say NAR we know stands for the National Association of Realtors.
But if we were to use “NAR” in a conversation with a client they wouldn’t know what that meant. So break it down. They’re not in your business. Make it clear and straightforward and don’t use real estate speak. Actually, I get a kick out of sometimes when I read descriptions about homes for sale. They got so much real estate speak in there.
If a client ever read it, they wouldn’t know what in the world we’re talking about. So don’t use that technical jargon. No initials, please. Just keep keep pace and get in step with your audience, with your clients. So that’s my first thing, is the development of communication skills. The second thing I really want to talk about is just building your confidence.
Work to Build Your Confidence
The first thing I want to say about this is sometimes ignorance is bliss. And that must have been how I started out, because I started out with confidence. And when I say I started out with confidence, I don’t mean to sound anything other than humbly telling you the truth.
I didn’t know what I didn’t know. And I just jumped out there and did it. And I made a lot of mistakes. But building your confidence, I know you’ve heard the term “fake it ’til you make it”. I want you to believe that you could do more than you think you could do. I’m going to give you an example.
I just heard actually somebody I adore say that they were a, let’s say, $100,000 agent. That means they only felt comfortable showing very inexpensive homes. And I want to tell you a story about way, way back, somebody that is still in the business today. But many years ago they were in the business with me. And honestly, they were probably a week at the most of getting out of real estate.
And so our office was a very small office at that time. I got a call on a very expensive home. I would like to take that call, but I didn’t get the call and we’ll call this this person that will remain nameless “Sue”. And so Sue says, :Oh, I’m so nervous. I just never shown a house this expensive before. I’m scared.”
And I slapped her on the back and said, You’re going to do a great job with this. They’re gonna love you. And of course, I gave her encouragement. And by the way, she sold that house and still in real estate, 25 years later. So she was one week away from getting out of this business and her confidence was really low.
But she went ahead and did it. But so if you don’t know the answer to something, a lot of times if you don’t know the answer to something, just say so really plainly, but then go find it and get back with them as quickly as possible.
That’s really, really important. So confidence is built through experiencing doing things, but unfortunately I wish I could tell you it was different. But you’re going to learn more from your mistakes than you ever do from your successes. So making mistakes and putting yourself in uncomfortable situations is going to assist your confidence in your growth bigger and better than anything.
So move forward with action. Make your day full of action of of talking to people you don’t know of asking them about real estate, if that’s if that’s your game, which is my game. I mean, everybody wants to talk about rules that if you were doing this, nobody would want to talk to you. Everybody said that they have to come see you if you’re a dentist.
But real estate, they think they know your business. So naturally they want to talk to you. So listen to their opinion. You’ll grab some rapport with that and then go forward and learn how to ask. And the third thing I’d say is learn to make a decision quickly. Oh, boy, this is really a good one.
Learn to Make Decisions Quickly
I’m from the baby boomer generation. And we’re told, you know, I didn’t even think about all this generational stuff, but there is a difference. Let me tell you about baby boomers. Number one, baby boomers wanted to leave home earlier. They wanted to get out of that house quickly. They thought they knew better than their parents and they weren’t comfortable living under their rolls.
They move fast. I left home when I was in my teens and only went back for a short few months and then really made it on my own because I was too darn stubborn to take any kind of advice from a sweet mother that I had, so I probably should have, but I didn’t. And I learned a lot through making a whole lot of mistakes early in life.
So practice making decisions in different situations. It to be a great leader, you’re going to have to make decisions quickly and effectively and that doesn’t mean that you don’t listen to other people, but then you make a decision. You know, my generation has been raised on one liners and the one liner that has always helped me in this, a portion of leadership is make a decision and then make it right.
In other words, don’t second guess yourself. Make a decision, make it as quickly as you can, and then make that decision, stand on that decision and go forward with the determined action to make that decision. Right. You’ll go farther that way, then you will say maybe I should have done this and oh, I didn’t think right about that.
And oh, we all go through that of just raking ourselves over the coals when things were having a bad day, after we’ve made a decision that, Oh, I shouldn’t have done this, I shouldn’t have done that, folks, listen, failure as I said, failure teaches you much more than successes ever will. So you better learn how to make a decision.
Don’t be an indecisive person. And once you once you make a decision, don’t hold back. Burn the bridge. That’s another military term I like a lot when they wanted the soldiers to really win, that would take them in a battle. I’d be on a ship and go to an island. And then they burned the ship. So they had no way out unless they won.
They were they were going to die. So that’s how you make a decision and make it right. The next thing I would tell you is just embrace learning and develop. But that’s one of the greatest things I love about being the rules. This is not the same as it was years ago and you have to keep up with it.
You have to keep your edge. You’ve got to be edgy. You’ve got to be you got to move. You’ve got to swim with it. You’ve got to grow with it. The inventory changes, you’ve got to know that buyers change, sellers change, other agents changed, opportunities change in the industry and if you’re so set in your ways, you won’t embrace learning and development.
And man, I’m always about that because I want to know the latest right now and rule estate. There’s a lot of air discussion I’ve taken a class on on artificial intelligence, and there’s a whole world of difference between the homes and land book of years ago. So you’ve really got to keep up with the changes. And it’s not just happening in real status in business.
It’s in our world. You’ve got to be part of it. You’ve got to be part of that rat race and enjoy that rat race. So take on those new challenges and in request feedback from your clients, from your team, because you learn through those mistakes, you got to request that feedback and think outside of the box. You know, really and honestly, one of the most challenging things is having time for creativity in your life.
And that’s without your radio, without your TV. You know, I have a family member that cannot be in the house without something on. I don’t know if you’re like this or not, but man, sometimes I just want silence. Silence is golden. That’s what they told me. But anyway, you’ve got to have some time to be creative. And I don’t know how you can be creative with a thousand things going on.
Maybe you can. But I heard I had one of my leaders tell me years ago that they got their best ideas in the shower. I don’t know how long you could stay in the shower, but it’s certainly not long enough. So that’s some time aside to dream, to be creative. The next thing I want to tell you is to build your network.
Build Your Network
I just got back from a great meeting with Sherry Riano and her team this morning and she is such an asset to my team. I mean, what they do is amazing because they have perfected the lending. You know, they’re a local lender, they’re they’re probably the best biggest local lender in the triangle area and share we all knows team will is there to help the client the service that they give makes you look good as an agent.
So I love that. And one of the examples that we talked about this morning, which which was very enlightening to me, is today in today’s world, we’ve got a lot of people that come to us as role state agents and they say, Oh, I’ve got my own lender and most agents just let it stop with that. They say, Oh, you got your own lender.
Great. Your sister in law, oh, you’ve got that online lender, so-and-so. Well, online lenders are usually trash. But here’s the key. No matter what, you can use your lender, you can use your cousin. But what I want you to do as a professional is I want you at least to have two estimates there side by side, so you can discover where the hidden fees are.
Because I can tell you for sure that we have compared the online fees to one of our lenders and seen an enormous amount of hidden fees that made it look like they were actually the less expensive, but in reality they were not. So you want great advice when you’re buying a big investment like a home, go to somebody that’s been in the business and cares about their name and their reputation.
And I think the Sherry Riano team is a great choice for that lender. When you’re building your network, that means your lawyers, your peers, you want them to have friends that are your competition. I’m actually meeting with somebody from another company denies this. When we sit down with our competition and just talk about the industry, just talk about the changes in the industry and how we’re navigating through them and get some good ideas.
So the more extensive your network, it actually takes effort. And in we we get in the pattern of just staying around people that we know and not really branching out. We just get in that rut. I had another leader of one time did a red suit film his name was Glenn Turner. Boy, that’s going back a ways. And he said the difference between a rut and a grave is a rut.
Is a grave with both ends knocked out. So if you think about it, it was a very glamorous speech, but we didn’t get into this. We go home the same way, we go to the same restaurants. We get into ruts. So you have to work on that. No great leader has ever lived alone, so you got to have some great people around you.
And building that network is really, really important. The next one is just lead by example and do the best you can.
Lead By Example
Sometimes I’m sure I’ve let my team down, but your actions speak louder than words. They’re there to know if you care about them. If you believe in them, they’re going to know. So you got to try really hard to be a good example yourself.
And if you’re like me, you’re probably pretty easy to beat yourself up. I know I am, because I can never quite live up to the standard that I would like to live on in my life. So but just lead with honesty, your accountability, lead with respect and reliability, be there for your team, know what’s happening in their life, and be a positive influence in their life.
And then the next one that goes along with that is really just be consistent.
The best you can in your consist, see in your behavior, in your values, in maintaining balance, you know, your team needs to know what they can expect from you. And I hope that my team does provide clear and consistent communication about giving them goals.
You know, sit down with them, talk about their goals and their expectations for what they want out of this business. So the next one, we’re getting close to the end here is just keep an open mind and keep an open mind. You know, is think about this. Everything is changing all around us all the time, except for us.
We’re the hardest thing in the world to get to change. Changing ourselves is the most difficult order we get. So don’t shut down on new ideas when somebody starts into something and you’ve got an apprehension on it. Oh, man, I’ve heard that before. I’ve seen that done before. I don’t agree with that. Force yourself to listen to the full idea with an open mind.
And really that’s going to enlarge. You know, I’m political. I’m just going to say, you’re right. It is. And so it’s very hard for me, but I never want to close my mind that I don’t listen to the good that’s in another person’s point of view. I want to dig out if there is 1% or 10% good. I want to know what that 10% good is.
And I think it’s really important to do that. The other two things are left and the one is just empower your team, believe in them, celebrate, encourage their success.
Empower Your Team
You know, I fully hope with every ounce in me right now that I’m developing leaders that will be the leaders in the Triangle real estate five years from now, ten years from now, 20 years from now. I want to develop those leaders. I want to say I had my little part in their success, because when I look back, to be bluntly honest with you, I could count on one hand and I wouldn’t even need the full hand to say, these are the people that inspired me.
These are the people that said something good about me that that resonated with me. So I want you to celebrate your people success. Use disappointing outcomes as teaching moments. You know, it’s really hard when you have something that happened to you that that’s a disappointment not to start justifying your position. That’s just really, really what we all want to do.
Oh, well, they didn’t go with me because they had a cousin in the business or they didn’t go with me because of this or because of that. They didn’t list the house with me because of this. And what really is needed is self-evaluation at that point in time. Now, again, I’m not talking about beating yourself up for, you know, ten days is getting over it and moving on to the next thing is an important part of you.
But if you don’t stop and learn something, you’ve missed a great, great opportunity. So great leaders allow their team to believe in themselves, be on their perceived ability. See, I know my team. I know the great talent that I have on my team. I know what they can build in the next five years and then the next ten years.
I know what they can build and I’m excited for them. I just want them to catch the dream to know what they can achieve because there’s a lot that can be achieved in this great business. And the last thing I would say is just try to understand your people. It’s not easy to understand all people, but try to think about.
Understand Your People
I try to think about my people strengths and weaknesses. I think you can lead more effectively. Think about a ball team a lot. Also to me is a game and all business is a game and how you count the winner is usually by the profit that you make, but empowering and motivating your team with goals is really, really important.
But then a secret to the goals is the accountability. Because if you don’t have the accountability in place, you’re wasting everybody’s time. So you have to have a way to count accountability. Oh, everyone has the ability to be a great leader. Everyone, maybe your you won’t get put in a position in your lifetime to where you have to lead.
But not everyone has the drive necessary to be a great leader. You know my story when when I got roles started, I was a single parent of three children and I didn’t have any natural talent as a leader. And I still work on that daily, but I needed to be a leader and I had the drive. And I want you to find the drive in your heart to excel because you only got one life to live.