REAL ESTATE B-SCHOOL HIGHLIGHT: The 5 Most Valuable Traits of An Effective Real Estate Team

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Transcript:

Let's jump into our last section here in Module 4. It's another sort of book review, where we talk about The Five Dysfunctions of a Team by Patrick Lencioni and how to build and maintain a self-managed team. This is gonna give us a little bit of a running start into Module 5 and Module 6.

The 5 Dysfunctions of a Team

The 5 Dysfunctions are really 5 interrelated issue that undermine the performance of a team. Most of these relate pretty well to a real estate business.

1. Absence of trust. If the members of the team do not trust each other then they cannot be totally honest with each other.

2. Fear of conflict. Without trust people will not have the healthy debates that are necessary to arrive at better thought through decisions.

3. Lack of commitment. If the team have not aligned behind a decision then the individual members who did not agree with the final decision will ultimately be less committed to that decision.

4. The avoidance of accountability. If they are not committed to the course of action, then they are less likely to feel accountable (or hold other people accountable). Avoidance of accountability is huge, that's probably the biggest thing we struggle with on our real estate teams. We do it in a way where other people hold under performing agents accountable, which is pretty cool.

5. Inattention to results. Consequently, they are less likely to care about group results (and instead focus on achieving their own goals).

How Cohesive Teams Behave

Another way to look at this model is to imagine how members of a truly cohesive team would behave.

1. They trust one another.

2. They engage in unfiltered conflict around ideas.

3. They commit to decisions and plans of action even if they don't agree with them

4. They hold one another accountable for delivering against those plans.

5. They focus on the achievement of collective results.