A Place At The Table...Emerging Dynamics for 21st Century Real Estate Leaders!

What does leadership require?  In an profession rocked by unprecedented upheaval, the importance of a good leader cannot be overestimated.  In May, I attended the Real Trends Leadership Conference in Dallas.  I was struck by how often the topic of visionary leadership was noted as being the single most important predictive factor for surviving the current chaos being experienced in the real estate industry.

A google search on the topic yields over 314 MILLION results!  This is definitely a hot topic in.  It is also a recognition that the role of leaders has changed significantly in response to the increased complexity of issues that we face as local and global communities.  

At the top of the search heap was a link to an article by Lead2XL  According to the author, Mitch McCrimmon,

"Our definition of leadership needs to change for a knowledge driven world that is no longer rigidly hierachical, stable or static but one that is fluid, fast changing and less formally structured."

So, what does this mean?  According to McCrimmon, leadership involves the ability to influence, to promote, provide vision and to engage thought capital.  Leadership is no longer a static entity based on the traditions of position based authority nor is it limited to the people 'at the top.'

 

What's at Stake...

The Grand Rapids Association of Realtors® is about to begin the process of selecting leaders again. These new directors will be tasked with carrying forward the vision that move us into the future.  A responsibility of true significance. Recently a group of individuals met together to brain storm about the type of leadership that our association needs at this time.  The discussion did not initially center on names or personalities... rather, it focused on ideas, character traits and vision.  Through this sieve, several critical definers began to emerge.

 

What Will 21st Century Leadership Require...

We recognize that leaders in our association will require the humility to learn and lead.  The willingness to communicate with transparency and the courage to change course when necessary.  We need leaders who are curious and committed.  Individuals who have a passion to serve and are willing to engage.  Leaders who are willing to tackle difficult issues with tact and perseverance along with a recognition that the diversity of ideas and viewpoints ultimately strengthens the final decision.

 

Leading Through Tumultuous Times... 

Last year, I was appointed to serve as a Director on the Board of our association and then subsequently elected to the position of President-Elect.  Serving our members during this tumultuous period has included radical redefinitions of our marketplace through short sales and foreclosures, engaging a consultant to advise on the implications of changes in our industry, facing the reality of having to significantly upgrade our educational offerings and tackling the process of converting/merging our MLS system to create a more unified and regional database of information.

Through this process, I am reminded of the bravery of the small band of settlers that made the shores of the New England coastline their homestead in the 17th century.  They faced the unsettling task of dealing with unpredictable elements that also threatened their prospects of survival.  Not entirely unlike some of the challenges faced in the real estate industry today. Due to the ferocity of the tumultous storms, they fashioned a home which could withstand gale force winds...a  home style commonly known as the Cape Cod Style Home.

 

Lessons from the Cape Cod on Servant Leadership... 

The Cape Cod was not a fancy house.  It was usually only one story and had a hearth at the center.  The shingles outside the windows were not decorative, but were meant to be pulled over the windows to protect against the wind.  The steep roof allowed for adequate run-off and the small roof overhang added stability and security to the structure.

In some ways, that's how I view the task ahead.  We need leaders who appreciate that serving is a calling to servant leadership.  It's not a fancy task and may sometimes be a thankless one.  An acronym for the world CAPE provides a base foundation for the issues which I think are important as we chart a course for the future. These include:

C ~ Community; the hearth as a gathering place symbolizes a recognition that we need to encourage the formation of  strong relationships amongst our association members and to support the growth of communities and neighborhoods in the areas we serve.  This is where our strength lies...we need to support each other and respect and encourage the core strengths inherent in our diversity.

A ~ Awareness; early settlers lived and thrived because they were attuned to the the changing dynamics of their environment and linked forces together.  We need to be more proactive in engaging other sectors of our real estate industry and overall commercial sectors to pool resources, creative energy and expand opportunities.

P ~ Profitablity; directly related to Productivity.  In an era in which we are seeing profits dry up and productivity per agent take a nose dive, we need to address issue of professionalism and open up frank discussion about what will be required to ensure that we have an industry which can adequately support the welfare of those it employs.

E ~ Education; in a world that is rapidly changing, standing still is going backwards.  The early settlers learned to adapt to their environment and even today, the Cape Code Style home continues to evolve.  As a real estate community, we must recognize that a new set of knowledge tools will be vital to success in the future.

I'm excited about the possibilities that will emerge for all who are willing to take up the challenge.  In the final analysis, we are all leaders and every contribution has an impact.  I'd like to encourage you to ponder the possibilities.... If this calling speaks to you, please volunteer to lead as a director or in the future in other capacities.  You are important.  We need your presence at the table!

 

 

 

Lola Audu, is the Designated Broker & Owner of Audu Real Estate.  Our company specializes in helping people buy and sell homes in the greater Grand Rapids, West Michigan area.  We've had the privilege of helping hundreds of clients succeed in their goals of purchasing and selling property including demonstrated success in the negotiation of Short Sale Transactions. You can contact us via e-mail @ info@auduhomes.com or by phone at 616-791-0511.