The real estate industry has been at the forefront of promoting diversity in the workplace in recent years because of the crucial role that it plays. Having a diverse team is not just about complying with the law but also about enhancing efficiency. Most people usually think that a diverse workplace is only a team that includes employees from different ethnicity, background, and gender. While this is true, there is more to it than this. A diverse team also factors in language, culture, religion, sexual orientation, and skills and abilities. In this article, we will discuss the importance of having a diverse real estate team.
It makes employees and clients feel comfortable
One of the top benefits of having a diverse real estate team is that it makes both the staff and clients feel comfortable. When you have a team that is diverse, employees will feel more comfortable because they feel included and appreciated by the company. Your clients (buyers and sellers) will also feel comfortable because they can talk or relate to people who understand their needs. Some clients tend to avoid some real estate companies because they feel that the company does not have agents who understand their needs, and culture. When your team is diverse, then everyone will be comfortable because they all feel loved and welcomed.
It increases productivity
Another benefit of having a diverse team is that it increases productivity. A study conducted in 2021 found that diversity in the workplace increased productivity. When you have a diverse team, a wide range of perspectives are considered before making decisions and this mostly results in better decision making. A diverse team comprises employees with different characteristics and backgrounds. This means that their skills, abilities, and experiences are different. As a result, your employees are more likely to brainstorm and come up with creative ideas and innovations that will promote productivity in the workplace.
It increases team engagement
Studies have shown that team engagement in the workplace is heightened via inclusion and diversity. When employees feel like they are part of the team, there are more likely to be engaged in problem-solving and creative thinking. This means that your team will be able to solve problems quickly and come up with creative innovations that will boost the company’s revenue.
A diverse team increases revenue
All real estate companies aim to increase revenue by selling more properties. When you have a diverse team, then you are more likely to increase the company’s revenue. A recent study conducted by Boston Consulting Group revealed that real estate companies with a diverse workforce generated 20% more profits compared to companies with lower diversity scores. This is because when you have a diverse team, then you will be able to come up with better policies that will help the company attract a wide range of customers. More so, hiring agents from different backgrounds also help the company target a wider market because the diverse team is able to connect with clients from all walks of life.
