Leading and cultivating teams are two of the most enjoyable facets of my job. Leadership in commercial real estate is an ever-evolving journey that requires constant learning and adaptation as well as a unique blend of strategic thinking, resilience and strong communication. Throughout my career, I have encountered numerous challenges and opportunities that have both shaped my career and influenced my leadership style.

In this article, I will share three important lessons I’ve learned from leading commercial real estate teams by blending personal experiences with broader industry principles as it relates to effective communication, humility and emotional intelligence, and adaptability. By diving deeper into the nuances of leadership, we can better understand how to lead with confidence, foster growth, and navigate the constant change we experience in commercial real estate.

Communication is Key

Clear, constant, and effective communication is vital to the success of a strong leader and a rock-solid team. One way I foster trust and alignment with my team is by encouraging open communication and transparency. I always say to my team that, “If I don’t know about it, we can’t fix it.” I believe this mentality resonates with my team and further enhances trust and understanding when tough conversations arise. While clear and concise communication is critical to our success as a team, active listening is equally important because we can accurately understand concerns, respond thoughtfully, and ensure clarity to prevent common misunderstandings.

Encouraging open dialogue within a team enhances collaboration and drives success; however, in commercial real estate, conveying information effectively extends beyond those who report to you. Engaging with clients, tenants and service partners requires tailored communication methods. Each stakeholder has unique priorities as well as different communications styles, and successful leaders know how to adjust their response to resonate with each stakeholder.

Another important aspect of communication is conflict resolution. Conflict resolution oftentimes results in difficult conversations which are invariable in leadership, but how these conversations are handled ultimately defines leadership effectiveness. It goes without saying that ignoring the problem does not make it go away, so it’s imperative to address issues promptly, listen to all perspectives, and identify a common ground to resolve conflict.

Developing your skills to provide constructive feedback leads to stronger, more collaborative relationships. While providing constructive feedback can be uncomfortable initially, it’s important to note that great leaders don’t avoid difficult conversations; instead, they use them as opportunities to reinforce trust with their team, tenants, clients and service partners.

Humility and Emotional Intelligence

One of the most valuable leadership lessons I’ve learned throughout my career in commercial real estate is the power of humility and emotional intelligence. I firmly believe that humility is something we learn from experience, and strong leaders recognize their strengths and weaknesses and encourage constructive feedback. In my opinion, it’s difficult to be an effective leader without humility and emotional intelligence. I have found that acknowledging when I don’t have all the answers, owning my mistakes, and seeking feedback from my team guides better decision-making and enhances relationships. Being self-aware allows leaders to continuously improve, adapt, and foster a culture of growth and trust within their organizations. When people feel that their contributions matter, they are more engaged and committed to success.

Humility in leadership can often be mistaken for weakness, but it is one of the strongest qualities a leader can have. Admitting mistakes and learning from them sets a positive example for, not only your team, but also the entire organization. It shows that growth is an ongoing process and that no one, regardless of their experience, is above learning and evolving.

One thing I always encourage my team to do is take responsibility for their mistakes. While the proverbial buck stops with me, and everyone drops the ball from time to time, I encourage my team to take ownership of their mistakes but also learn from the lesson surrounding it. As discussed earlier in this article, establishing a strong company culture that evokes trust, open communication, and transparency ensures that your team has a safe space to express themselves when mistakes inevitably occur.

Another key point worth mentioning is that emotional intelligence involves having enough self-awareness as a leader to understand and manage your emotions while also being attuned to the emotions of others. Leaders who can recognize stressors and address them proactively build a more engaged and motivated team. This means having regular check-ins or one-on-one meetings with your team, offering support when needed, and knowing when to push and when to back off.

Pivot, Pivot, Pivot

I’m sure many reading this article have seen the Friends episode where Ross, Rachel, and Chandler are attempting to move an awkward piece of furniture up the stairs in their apartment building, and Ross yells, “Pivot! Pivot! Pivot!” in a very annoying voice. Not only is this comedic gold, but also the name of the game in commercial real estate – namely property management.

Every leader faces setbacks; however, pivoting, and of course resilience, is what separates successful leaders from the rest. As a leader, I experience multiple challenges every day, but my ability to seamlessly pivot from one thing to the next while remaining optimistic is the key to my sustained leadership success.

Resilience is not just about bouncing back from failure; it’s about learning to quickly pivot when faced with challenges which allow us to thrive under pressure. If this doesn’t describe a day in the life of a property management professional, I don’t know what does. In leadership, day-to-day dynamics can change in an instant, and it’s imperative to make quick, informed decisions without hesitation. While attention to detail is important, getting stuck in the minutiae or “analysis paralysis” kills progress. In my experience, adapting to constant change and keeping things moving is the key to leadership and team success.

So, What’s Next?

Strong leaders are not just focused on the present, they have a clear vision for the future which involves goal setting and building a culture that aligns with long-term objectives established by the organization. For me, I routinely hold one-on-one meetings with my team members to revisit and adjust goals to ensure they remain relevant and achievable. Another way to keep goals at the forefront is to conduct a more formal check-in mid-year separate from the annual performance appraisal. These regular check-ins allow my team to take inventory of where they’re at in achieving their goals and whether or not we need to adjust them for the remainder of the year.

A strong team is built on trust, mentorship and clear communication. I have learned that investing time in developing team members not only enhances productivity but also fosters loyalty. Setting clear expectations, encouraging collaboration, and recognizing achievements are essential components of strong leadership. My team knows that they can always rely on me for support when faced with challenges; however, they also know that when they come to me with a problem, they also need to be prepared to discuss their solution. Providing a collaborative, supportive, and autonomous work environment empowers team members to feel confident making tough decisions. When your team employs their critical thinking and emboldened decision-making abilities, it’s incredibly rewarding as a leader to watch as they get all the credit for saving the day.

Learning Continues

Leadership in commercial real estate is an ongoing journey of learning and adaptation. The most effective leaders adapt to change, invest in their teams, and prioritize strong communication. As I reflect on what my experience in leadership has taught me, I have found that the most valuable leadership lessons come from challenges as well as that constant pivoting that we all manage. By staying adaptable, fostering self-awareness, and leading with integrity, we can navigate the complexities of the commercial real estate industry and achieve lasting success.

Ultimately, great leadership is not just about making deals or driving NOI – it’s about building a strong foundation for sustained growth. By focusing on communication, team development, humility, resilience and long-term vision, leaders in commercial real estate can create a lasting impact and continue to effect meaningful change in our industry. If you are an emerging leader or even a seasoned one, I encourage you to always celebrate your team’s wins – both big and small, and remember, great leadership always extends beyond individual success; it’s about cultivating a team that thrives.

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