Real Estate

How Diversity Can Strengthen Real Estate Businesses and Drive Growth

Diversity is the way of the future, writes the agency’s Mauricio Umansky. Here, he unpacks the benefits of intentionally building a diverse team for your clients, your agents, and your business.

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Diversity is an essential component of building a successful real estate business. Raised in a family of entrepreneurs in the textile industry, I have proudly embraced my Mexican and Jewish heritage. I have experienced firsthand the power of change and the value of diversity in creating a more inclusive and vibrant industry.

Human connection is everything in real estate, and diverse teams have a wide variety of perspectives and experiences to offer their clients.

More and more companies are implementing diversity initiatives and seeing their businesses flourish as a result. Let’s unpack some of the benefits that come with having a diverse team.

Increase innovation

In a room where everyone has similar backgrounds and strengths, you’ll hear many of the same ideas over and over again.

On the other hand, diverse teams are never short of fresh ideas due to their diverse perspectives and wide range of expertise. Innovation comes naturally when people with different perspectives put their heads together. This outside-the-box thinking will keep your team ahead of the curve on everything from marketing to workspace design.

Diverse teams are more flexible and better equipped to weather a changing industry. With a different perspective at your disposal, your business will be more adaptable and ready to solve whatever problem the market throws at you.

Strong client relationships

Diversity allows your team to develop strong personal connections with a wide range of clients. Having team members from different cultural backgrounds better prepares you to understand the nuances of different communities and offer solutions that are tailored to the interests of those communities.

Understanding clients’ needs is key to providing the best possible experience, and diversity provides insight into the needs of more people.

Showing customers that you understand their unique perspective is an essential component of building trust. When clients feel and look comfortable, they are more likely to do business with you, return for repeat business and provide referrals.

High team morale

Diversity does wonders for team morale and company culture. In contrast to environments where assimilation is rewarded, diverse workplaces show agents that their individual perspectives are not only valued but also necessary to foster innovation.

This makes them more likely to engage in their work and speak clearly. Empowering team members to share their ideas will not only benefit your business, but you’ll also find that your team is happier — and therefore more productive — when inclusion is prioritized. is productive.

The benefits of high team morale cannot be overstated. Positive workplace environments promote cooperation and reduce employee turnover. Happy employees stay with companies longer, saving you valuable hiring and training resources.

Improved brand reputation

Clients and real estate professionals alike will take notice when you try to build a diverse team. Having a reputation as a welcoming and inclusive firm is attractive to clients, and it makes other agents want to work with you.

In a highly competitive industry where your agency is only as strong as your team, being known as a diverse workplace will attract top talent. Many strong candidates intentionally seek diversity when they search for jobs, and you want to appeal to agents who are looking for that.

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 beyond ethics and optics, diversity is just good business. When you build a diverse team, you’ll see the benefits ripple through every aspect of your company.

Mauricio is the founder and CEO of Umansky. Agency in los angeles. Connect with him. Instagram.

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