Diversity is the way forward, writes the agency’s Mauricio Umansky. Here, he reveals the benefits of intentionally building diverse teams for your clients, agencies, and business.
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Diversification is an important part of building a successful real estate business. I grew up in a family of textile entrepreneurs and I proudly embrace my Mexican and Jewish heritage. I know first-hand the transformative power and value of diversity in creating a more inclusive and vibrant industry.
In real estate, relationships are everything, and a diverse team can provide clients with a broader perspective and experience.
More and more companies are implementing diversity initiatives and seeing their businesses thrive as a result. Let’s take a look at some of the advantages that come with having a diverse team.
Increase innovation
In a room where everyone has a similar background and similar strengths, you’re going to hear a lot of the same ideas over and over again.
On the other hand, diverse teams have no shortage of fresh ideas due to their diverse perspectives and broad skill sets. When people with different perspectives work together, innovation emerges naturally. This outside-the-box thinking will keep your team on top of everything from marketing to workspace design.
Diverse teams are also more resilient and better able to cope with the changing industry. With multiple perspectives to choose from, your business will be more adaptable and ready to solve whatever the market throws at you.
Stronger customer relationships
Diversity allows your team to develop strong personal connections with a wider range of customers. Having team members from different cultural backgrounds allows you to better understand the nuances of different communities and provide solutions that serve the interests of those communities.
Understanding your customers’ needs is key to delivering the best experience, and diversity provides insight into what more people want.
Showing your customers that you understand their unique perspective is an integral part of building trust. When customers feel comfortable and seen, they are more likely to do business with you, return business, and provide referrals.
Higher team morale
Diversity goes a long way toward team morale and company culture. In contrast to an environment that rewards inclusion, a diverse workplace shows agents that their individual perspectives are not only valued but also integral to fostering innovation.
This makes them more likely to be engaged and vocal at work. Not only will your business benefit when team members feel empowered to share their ideas, but you’ll also find that when inclusion is prioritized, your team will be happier and therefore more productive.
The benefits of high team morale cannot be overstated. A positive work environment promotes collaboration and reduces employee turnover. Happy employees stay with your company longer, saving you valuable recruiting and training resources.
Improve brand reputation
When you work to build a diverse team, clients and real estate professionals alike will notice. Having a reputation as a welcoming and inclusive company is attractive to clients and will make other agents want to work with you.
In a highly competitive industry, your agency is only as strong as your team, and being known as a diverse workplace will attract top talent. Many top candidates intentionally seek diversity when searching for jobs, and you want to attract those in-demand agents.
Diversity is the way of the future, and for good reason. We all want to help break down barriers to entry and amplify voices. But ethics and optics aside, diversity is definitely good business. When you build a diverse team, you’ll see the benefits ripple through all aspects of your company.
Mauricio Umansky is the founder and CEO of The Agency in Los Angeles. Connect with him on Instagram.
