Whether it’s a DOJ ruling, industry changes, market shifts, companies getting acquired, or some other news that seemingly has an uncertain outcome, the real estate industry is always changing and presenting us with new challenges. It reminds me of the saying, “A smooth sea never made a skillful sailor,” and underlines the fact that those who choose to navigate changes and challenges to make the best of it will strengthen their business and be able to stay out at sea to face future storms.
Whatever the wild world of real estate throws our way, we are committed to
supporting and helping you to build the business of your dreams.
Here are some strategies to face news head-on with your clients and agents so that you remain the steady beacon of leadership through whatever the industry throws your way.
📱 Prompt and Transparent Communication
- Act swiftly to communicate the situation to your team and clients. A delay in communication can lead to speculation and increased anxiety so it’s always best to face it head-on while acknowledging that you may not have all the information just yet.
- Be transparent and honest about what is happening by sharing all available facts, even if you perceive them to be unfavorable. Never downplay or sugar-coat the issue at hand.
Take Responsibility Where Necessary
- Own up to any mistakes or challenges immediately as this demonstrates both maturity and integrity.
- Clearly outline the company’s commitment to addressing the issue and preventing similar challenges in the future, if applicable.
🥰 Show Empathy
- Understand and acknowledge the concerns and frustrations of your clients.
- Express empathy for any negative impacts that the situation may have caused them.
📝 Provide Solutions and Action Plans
- Present concrete steps that the company is taking to resolve the issue and prevent its recurrence and explain how these actions will benefit team members and clients.
- Offer a timeline for when clients can expect to see improvements or resolution
📈 Regular Updates
- Keep your agents and clients informed about progress and developments through regular updates. One announcement is never enough and you need to keep the conversation going as long as it takes.
- Even if there isn’t any significant news to report, a simple message acknowledging the ongoing commitment to resolution can be reassuring
👩🏫 Learn from the Experience
- Conduct a thorough post-incident analysis to understand what went wrong, and how you can prevent it from happening in the future or how you can strengthen your business from similar things happening moving forward if the challenge was completely out of your control.
- Share the lessons learned with your clients to demonstrate a commitment to improvement and transparency.