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Last updated on 2024年6月27日

Here's how you can successfully restructure a team in the Commercial Real Estate sector.

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In the dynamic world of Commercial Real Estate (CRE), restructuring your team can be a pivotal move towards enhancing efficiency and staying competitive. Whether you're facing market shifts or internal changes, a well-executed restructure can lead to improved performance and morale. It's about aligning your team's structure with your strategic goals, ensuring that every member is in a position to contribute their best. So, if you're looking to revitalize your CRE team, here's a guide to navigate the process successfully.

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1 Assess Needs

Before diving into restructuring, you must evaluate your current team's strengths and weaknesses. Analyze your CRE team's composition, considering the diverse roles from brokers to analysts, and identify gaps that may hinder performance. Look at market trends and forecast future needs. This assessment will inform your decisions, ensuring that the restructure aligns with both immediate and long-term objectives. Remember, the goal is to build a team that is robust, flexible, and ready to tackle the challenges of the CRE sector.

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Kirky Galt

?? Helping CRE Execs Accelerate Growth with Specialized Marketing, PR & Content
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Assessing needs is an important first step in creating a plan to restructure your team. Before we restructure our teams arbitrarily, we need to know the reasons why we should pursue the initiative. Some common high-level objectives can include achieving greater productivity, team cohesiveness, more efficient communication and collaboration, and greater cross functional capabilities. Once we understand our goal, we can craft a viable plan, and pitch that vision with the confidence and enthusiasm to earn the buy in of management and frontline personnel.

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2 Define Roles

Once you've assessed your team's needs, it's vital to clearly define each role within the new structure. In CRE, roles can range from property management to financial analysis, and each position requires specific skills and responsibilities. Ensure that job descriptions are updated to reflect changes and communicate these to your team. Clarity in roles prevents overlap, encourages accountability, and sets the stage for seamless collaboration. This step is crucial for creating a framework where every team member understands their contribution to the team's success.

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Kirky Galt

?? Helping CRE Execs Accelerate Growth with Specialized Marketing, PR & Content
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Even though our teams may be trained cross functionally, it’s important that each team member have distinct responsibilities. Assign roles based on both current capabilities and innate potential. Also pay attention to what excites individual team members – sometimes their enthusiasm and motivation can be a greater asset than their experience, provided they have the underlying skill set.

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3 Foster Culture

A successful team restructure in CRE isn't just about roles and responsibilities; it's also about fostering a positive culture. A collaborative environment where team members feel valued and motivated is essential for driving performance. Encourage open communication and provide opportunities for professional growth. Building a strong team culture helps in retaining top talent and attracting new professionals who share your vision for success in the commercial real estate market.

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Kirky Galt

?? Helping CRE Execs Accelerate Growth with Specialized Marketing, PR & Content
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A team is only as strong, creative, efficient, and professional as the organizational culture that supports it. Inevitably, the values and attitudes that your organization and its stakeholders embody and convey will manifest in the communication style, conduct, and performance of your team. To steer your organizational culture in the right direction, embody your values and ethics in everything you do and say. Create organizational messaging and documentation to express those ideas in formats and channels that your stakeholders will embrace and be influenced by.

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4 Implement Changes

With a plan in place, it's time to implement the changes. This phase can be challenging as it involves altering established workflows and possibly shifting team dynamics. Approach this step with sensitivity and transparency, keeping your team informed throughout the process. Provide training where necessary to ensure everyone is equipped to thrive in their new roles. Effective implementation is critical for minimizing disruptions and fostering quick adaptation within your CRE team.

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Jens-Peter Schulz

首席执行官 | 房地产投资者 | Linkedin 顶级声音CRE | 1OX 顾问 | 240K+ LinkedLiveVOICE | 名誉会长 | 导师 | 创始人 | 演讲者 | 数字孪生创新的创新者 | 尽职调查3.0 ????????
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Implementing changes has its challenges, especially in commercial real estate, but it is possible if you consider the following five points without overwhelming the team: 1. Clear Communication: Clearly explain the reasons for the change and its benefits. 2. Gradual Implementation: Introduce changes step-by-step to give the team time to adapt. 3. Training and Support: Provide training and continuous support to help the team transition smoothly. 4. Feedback Mechanism: Listen to the team’s concerns and fears, and address them promptly. 5. Inclusive Decision-Making: Involve the team in the decision-making process to increase buy-in & reduce resistance. By taking a thoughtful & inclusive approach, you can successfully implement changes.

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5 Monitor Progress

After implementing the restructure, actively monitor progress to ensure the changes are yielding the desired results. Set up regular check-ins with your team and track key performance indicators relevant to CRE, like deal closure rates or client satisfaction levels. Monitoring allows you to make timely adjustments and address any issues that arise. It's a continuous process that helps maintain the momentum of your restructured team and ensures that your strategic objectives are being met.

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6 Support Transition

Supporting your team through the transition is essential for a smooth restructure. Change can be unsettling, so provide resources and guidance to help team members adjust. Whether it's additional training or mentorship programs, support mechanisms can alleviate anxiety and promote confidence in the new structure. Remember, the success of a restructure is not just about the end result but also about how you manage the journey there.

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Kirky Galt

?? Helping CRE Execs Accelerate Growth with Specialized Marketing, PR & Content
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Be there for your team to guide them along the way. Your supportive, inclusive, and motivating leadership, i.e., transformational, will inspire your team and help them feel more confident and comfortable during the transition. Be open to their feedback and listen to their ideas.

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7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?

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Here's how you can successfully restructure a team in the Commercial Real Estate sector.

1

2

3

4

5

6

7

1 Assess Needs

2 Define Roles

3 Foster Culture

4 Implement Changes

5 Monitor Progress

6 Support Transition

7 Here’s what else to consider

Commercial Real Estate

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Here's how you can successfully restructure a team in the Commercial Real Estate sector.

1

2

3

4

5

6

7

1 Assess Needs

2 Define Roles

3 Foster Culture

4 Implement Changes

5 Monitor Progress

6 Support Transition

7 Here’s what else to consider

Commercial Real Estate

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