Much has changed this past year, including the dynamics of leadership. But while being an effective leader in this new “digital first” world requires a new set of skills, there’s an aspect to leadership that will never change: the very nature of the role.
As defined by Forbes, leadership is a process of social influence, which maximizes the efforts of others towards the achievement of a goal. In real estate, this translates into not only being able to manage dispersed teams, oversee complex portfolios, and create a long-term action plan for the success of your business, but to also effectively motivate and empower others.
To gain greater insight into what real estate leadership in the real world looks like, we spoke to several highly accomplished executives. Here’s what we learned:
Focus on learning and growing
Cindy Clare, CPM® and Chief Operating Officer at Bell Partners tells us that “even having been in the industry over 35 years, I still learn every day. That doesn't necessarily mean just learning from my company’s leadership, it means learning from my peers and from my direct reports...I don't need to be an expert, but I need to have an understanding—whether we’re using a new technology or a way we're leasing apartments—I make sure I never stop learning.”
Be willing to take risks
Joseph Rector, CEO and Co-Founder of Pelican Property Management has “seen others grow stagnant and stuck in their ways. To me, every day comes with new opportunities. It has taught me to grow in different directions and adapt. You cannot be afraid to fall or fail.”
Help teams work smarter, not harder
Speaking about technology, Denise Dunkle, Chief Financial Officer of The Management Group, AMO® says, “We've dedicated a large amount of resources and time to streamline our processes, to look for automations, to improve our service to the client and to really work smart. And it's been super rewarding for me, and the results have made a huge difference operationally for us.”
Work on your own leadership blind spots
Ursula Burgess, President of CAI & Shareholder of Rees Broome, P.C. believes that “leaders need to take stock of themselves, and then ask for help, or think about ways for improvement. Just assuming you know everything and can do everything is a dangerous place for any of us to be, and we need to continue to focus on our evolution and growth.”
Be open to change
The biggest mistake that Jon Snow, CEO & Co-Founder of Crescent Canyon Management, sees leaders make is “being narrow minded and too rigid. We look at literally every single process, protocol, and SOP to see if we can improve, pivot, divest, invest, grow, or become more efficient anywhere we can.”
Delegate more
In a candid moment of self-reflection, Neil Cadman, CPM®, President of the Cadman Group said, “If I had delegated more day-to-day tasks when I was younger, I feel I would have grown to a different level professionally, and as a leader.”
All of these insights come from our latest Executive Leadership Guide, Leadership in property management: 2021 and beyond. This free resource not only shares proven tactics and strategies for success in a real estate leadership role, but encourages self-reflection so you can take actionable steps to be a more effective leader. Also, in an article from the Harvard Business Review based off of a Journal of Applied Psychology study, the practice of self-reflection was cited as a powerful way to self-motivate and boost energy.
We hope you find our Executive Leadership Guide helpful. It is yours to download and use at any time throughout your journey as a leader.
Aimee Miller is Chief Marketing Officer at AppFolio. She leads the marketing strategy and programs that drive awareness, demand and customer engagement for AppFolio. Aimee joined the team in 2009 as the Vice President of Marketing. In her role as a leader at Appfolio, Aimee consistently incorporates the teachings referenced in this blog.