Engel & Völkers Franchise > Blog > Situational leadership styles in franchising for independent real estate agents

Situational leadership styles in franchising for independent real estate agents

If you decide to start a franchise business as an independent real estate agent, an important part of your business management role is leading your team of employees. Depending on the size of your new real estate shop, it is important to coordinate the operational processes between real estate agents and assistants, but also marketing and finance experts or interns, so that the existing synergies are used as best as possible. In the role of licensing partner and managing partner, you will quickly find that this task involves different partial responsibilities that need to be appropriately weighted in order to optimize the efficiency and satisfaction of your team. As a franchisor, Engel & Völkers would like to bring you closer to some organizational and sociological aspects of employee management: In this article you will find out which aspects make up a comprehensive management approach and how, above all, situational leadership leads to success in the dynamic markets of the real estate industry.

- Exemplary real estate shop for franchisees within the Engel Voelkers real estate franchise

Know your responsibility: The core elements of holistic management in franchising

Real leadership competence as a franchisee is associated with much more than the mere delegation of pending tasks: You are more responsible for all of your team's projects, coordinate the workload of your workforce and ensure that small and large tasks are appropriately distributed according to their respective qualifications. As a managing director, you are also an important contact person and confidant for your employees and you also fulfill a certain role model function. For example, you are jointly responsible for the overall motivation of your team: If you exemplify a committed way of working yourself, this can quickly be transferred to your real estate agent and other employees, so that the working atmosphere changes for the better. Praise, recognition of certain achievements and bonus payments can also have an impact on the basic motivation of employees. As a franchisee, you also have the role of moderator: In the event of conflicts within the team, it is up to you to bring together different opinions and, if necessary, to make decisions that reflect the overall interests of the company as best as possible.

In many franchise constellations, the managing director also has the greatest experience, both as a real estate agent and in business matters. Therefore, the management position is also linked to an educational component, through which you can convey the best practices in your industry to your employees and promote the general transfer of knowledge within the company. Ultimately, the franchisee is also responsible for continuous quality control and potential optimization measures: You check the extent to which the work done by your team corresponds to the set specifications, identify problems early on and use potential for improvement to the benefit of your real estate shop.

Depending on your individual focus on these essential leadership components, your personal leadership style can be derived, i.e. whether you as a franchisee are primarily motivating, controlling or educational. The experience of the Engel & Völkers franchise network shows that situational management approaches in particular turn out to be very promising ...

Adapt your management style to the specific situation of your franchise company

Situational management approaches, which are based on the contextual conditions of a company, have been researched in organizational sociology since the 1960s and have been successfully used in various variants in franchising since then. Transferred to staff management for real estate agents, situational leadership can be based, for example, on the level of experience of an employee: while career starters or trainees, for example, need a greater degree of knowledge transfer and control, long-term employees may need to be met in a moderating or motivating manner. The current order situation and the importance of specific projects can also affect how much you make use of the various aspects of your responsibility. Such a situational management style allows you to react flexibly to short-term changes within the team or the company context without becoming rigid with rigid guidelines, which can be an advantage especially in fast-moving real estate markets with high supply fluctuations. Therefore, this approach represents a proven and individually adaptable strategy of employee management for Engel & Völkers franchisees in many cases.

The Engel & Völkers franchise offer is aimed at independent real estate agents and ambitious founders in all phases of life and career: While we have an excellent platform for real estate experts and entrepreneurs with many years of experience to maximize their business success, we are also available to industry newcomers with our training programs "Ready to sell" and "ready to manage" aside, so that you can acquire all the skills you need to run your own Engel & Völkers real estate shop through us. For more information, call us at +49 (0) 40 36 13 10 or fill out our contact form. We look forward to you!

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