Working in the real estate industry can be tricky. The research that needs to be conducted in order to find a good piece of land, the finances that need to be “found” and then working with the contractors and builders in order to properly and efficiently develop the property can be exhausting. Arriving at the finished product at the end of it all, takes a strong leader. Someone who is alert and aware, managing the project without missing anything.

All leadership personalities are different, as everyone brings their own characteristics and strengths or weaknesses, depending on the experience they have gained. Don’t get me wrong, you don’t have to be perfect, but being able to balance those strengths and weaknesses takes skill. You need to seriously analyse these factors in order to unlock the true leadership potential in this cutthroat industry.

So what are the “Right” Qualities to have?

You have no patience. Some would see this as a weakness, however the lack of patience could mean that you have the ability to act fast, be decisive and push projects to be completed quickly. Understanding the positive aspects of your own personality traits, instead of treating them as a weakness is essential. Also, understanding your leadership characteristics is vital in becoming a better leader.

Drive

When you have a passion for real estate working in this industry becomes second nature. Also, by encompassing a purpose to create beautiful homes for families and businesses, your clients will feel this energy and will want to work with you! Without passion and drive, the other qualities often fall short.

Honesty and integrity

The best people to work with are the ones who worry about the long-term relationship, and the people who have strong morals and ethics. Again, people within the industry would rather work with someone they know is going to be completely honest with them. Having integrity and showing a consistent and uncompromising adherence to your values means that others know what they get when they work with you, without having to worry about any unwanted surprise further along down the road.

A technical mindset

As we move more and more into the technical era, it is imperative to equip yourself with the necessary skills and knowledge in order to keep up with the current trends. Access to data and automation can provide more clarity while investing, buying, selling or renting property.

Communication and the ability to listen

It is essential to be able to communicate with your team in a clear and transparent way. Likewise, you can gain valuable information and knowledge if you just take a step back and listen.

Understanding the personalities on your team

Property Developers are often required to solve some complicated challenges, whether it be Commercial or Residential, at the drop of a hat. Turning an undiscovered, possibly run-down, beaten up property, and turning it into the next most desired piece of real estate takes some skill. Whilst you may have a world of knowledge and a great idea of what you are looking at doing with a property, you often have stakeholders, contractors, architects and other industry related personnel to deal with. And they too, will all bring an array of knowledge and different personalities to the table.

Being able to make key-decisions and understanding the unique leadership characteristics of each party will assist you in moving forward, avoiding friction and any delays in your project. A personality test could aid you in understanding the different individuals on your team, and how to better (and more effectively) manage them. It could also assist you when handling conflict, knowing how to approach people and their specific personality.

By evaluating each team members personality, you could better ascertain which team members are better for which roles. You will also assist them by reducing frustration and wasting their potential by giving them tasks not suited for their strengths and characteristics. Keeping them more engaged in their respective roles will promote their efficiency, making your project more successful as a whole.

 At the end of the day, just as with any other business, you reap what you sow. Working hard towards a goal will often mean reaping the rewards and fruits of your labour, and property investing is no different. If you are passionate and contain the personality traits mentioned above, you definitely have the ability to succeed. Why not begin today? Click here to find out more.