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The Business Freedom PodcastEpisode

Real Estate Silver Linings: Finding the Bright Side of Turnover

By REBS Team

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Real Estate Silver Linings: Finding the Bright Side of Turnover

REBS Team    May 21, 2020

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Turnover. No one likes losing team members, but every business owner has to deal with it.

What some team leaders fail to realize is that turnover isn’t always a bad thing. More often than not, it’s a good thing!

So when you learn you’re losing a member of your real estate team, ask yourself, “Is this person leaving a good thing or a bad thing?”

 

When there’s good turnover on a real estate team...

Good turnover is when someone leaves because they’re the wrong person or they’re in the wrong seat. These team members simply cannot live up to your expectations. And their departure, no matter how personally painful, is ultimately a good thing for your real estate business.

bad turnoverConsider this: You have a team member who is a top performer in every way, but who doesn’t align with your core values. When they decide to leave, you’re disappointed, because they positively influence your bottom line.

But when you sit back and really consider what they were contributing, you realize their lack of alignment with your core values would have eventually eroded your team culture.

And that long-term risk is simply not worth any short-term reward.

 

Right person, right seat

But turnover, even good turnover, never feels good. So focus on the benefits of replacing the wrong person with the right person. Because here’s what happens when you have the right people in the right seats:

  • More productivity;

  • Increased profits;

  • Faster growth;

  • Greater job satisfaction;

  • More peace of mind; and

  • Thriving office culture.

 

When there’s bad turnover on a real estate team...

When good people leave because of poor leadership and management, that’s bad turnover.  

good turnoverObviously, you want bad turnover as infrequently as possible. If you have a strong team culture and clear expectations accompanied by accountability, bad turnover can be avoided.

Whether you experience good or bad turnover rests with you and your decisions. Becoming a great leader is hard work, and that’s why we focus so much on leadership in Real Estate B-School.

Because the better you are at serving your people, the more they deliver for you and your real estate business.

Much Love & Respect,

Lars' signature

Lars Hedenborg

Founder of Real Estate B-School

P.S. If you are struggling right now wondering what your next step is, here are a few ways I can help you right now:

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