Whether it’s refining your business model, mastering new technologies, or discovering strategies to capitalize on the next market surge, Inman Connect New York will prepare you to take bold steps forward. The Next Chapter is about to begin. Be part of it. Join us and thousands of real estate leaders Jan. 22-24, 2025.

In real estate, keeping morale high during tough times isn’t just a nice-to-have; it’s essential for survival. When markets shift or the economy takes a hit, maintaining a motivated and cohesive team becomes a leader’s most critical challenge. Let’s explore eight leadership strategies designed to uplift your team when the stakes are highest.

1. Prioritize your people

With real estate teams, your business is as strong as the people behind it. Your team isn’t just executing tasks; they’re crafting experiences that clients invest in. If you want to lead in this space, your focus must be laser-sharp on your people.

Invest in their growth, celebrate their wins and be their fiercest advocate. They are your engine, and to keep it running smoothly, you need to ensure it’s well-oiled with support, recognition and opportunities for development.

2. Embrace life beyond work

High-stakes environments can take a toll on personal well-being. Top team leaders in real estate understand that success requires more than just work. It’s about balance.

Encourage your team to tap into their physical, emotional and spiritual reserves. Lead by example — prioritize relationships, health and reflection. A leader who embodies this balance creates a ripple effect, promoting a culture where your team thrives both in and out of the office.

3. Infuse energy into your team

You’re at the head of a real estate team, not just managing your transactions but leading people who drive your success. After navigating rough waters, your team needs a source of renewed energy — and that source is you.

Instead of draining the room, bring passion and positivity every day. Your team has weathered a storm; now, they need a leader who inspires and reignites their drive. Make your presence a boost, not a burden.

4. Master the art of communication

Communication isn’t just about transferring information — it’s about influence. Whether you’re addressing your team or negotiating with your clients, your words carry weight. Refine your messaging to ensure clarity and impact. But communication is more than speaking; it’s about listening and understanding the nuances that drive your business. Effective leaders know how to make their words resonate and their silence meaningful.

5. Lead with integrity

In a world where clients demand the highest standards, your integrity sets the tone. Scandals and breaches of trust are a dime a dozen in today’s real estate business news, but leaders who stand firm on principles build more than a brand — they build legacies. By consistently demonstrating integrity, you not only motivate your team but also instill a sense of pride and loyalty. This commitment to doing the right thing strengthens your team’s resolve and cements your team’s reputation.

6. Listen like you mean it

Real leaders know when to stop talking and start listening. In challenging times, your team needs to feel heard more than ever. The most powerful tool in your leadership arsenal is active listening. When you tune in to what’s being said — and what isn’t — you build trust and uncover valuable insights. This empathetic approach not only solves problems but also fosters a deeper connection with your team, making them more committed to the collective success.

7. Lead through competence, not title

Your title might open doors, but it’s your competence that earns respect and drives results. Lead by example — mentor, empower and partner with your team. This approach creates a culture where leadership is about action, not position.

Your team will respect a leader who isn’t afraid to roll up their sleeves and work alongside them. This shared sense of purpose and competence will not only help you navigate tough times but also set a solid foundation for future success.

8. Cultivate a problem-solving culture

Set a standard where problems are seen as opportunities for innovation. Encourage your team to approach challenges with solutions in hand. This proactive mindset not only speeds up resolution but also empowers your team to take ownership of their work. As a leader, guide them to refine their problem-solving skills, creating a culture where obstacles are simply the stepping stones to greater achievements.

In the hyper-competitive world of real estate, where every detail can make or break a deal, your leadership during challenging times will define your legacy. By focusing on these strategies, you not only maintain morale but also foster a resilient and motivated team. Remember, in this industry, it’s not just about surviving tough times — it’s about emerging stronger, with a team that’s ready to redefine success.

Chris Pollinger, founder and managing partner of RE Luxe Leaders, is the strategic advisor to the elite in the business of luxury real estate. He is an advisor, national speaker, consultant and leadership coach.  Learn more about their consulting, coaching and advisory programs at RELuxeLeaders.com

Inman Connect is moving from Las Vegas to San Diego in 2025 and it’ll be bigger, better, and bolder than ever before. Join us for Inman Connect San Diego on July 30-Aug. 1, 2025 with the brightest minds in real estate to shape the future of the industry. Reserve your spot today for an exclusive discount.

Spatial data company Matterport saw total revenue grow to $42.2 million during the second quarter of 2024, up from $39.6 million the previous year, as the company worked to increase its market share.

An earnings report released on Tuesday showed that subscription revenue accounted for $24.2 million of that total revenue, which was up 16 percent year over year.

Services made up about $10.9 million of total revenue and product made up about $7.2 million of total revenue.

Meanwhile, the company’s net loss was $0.45 per share with Non-GAAP net loss of $0.02 per share, a 71 percent improvement from the previous year.

Matterport’s gross profits hit about $19.4 million, up from $15.9 million the year before.

“I’m pleased to announced our second-quarter 2024 results, which underscore our ongoing success in driving efficient growth,” Matterport Chairman and CEO RJ Pittman said in a statement.

“Subscription revenue increased by 16 percent year over year, reaching a record $24.2 million, and now accounts for over 57 percent of our total revenue. This growth highlights our strategic focus on expanding the recurring subscription revenue within our business.

“Q2 was marked by bold product innovation as we continue to develop new products and deliver exceptional value to our customers. Our latest AI initiative, Project Genesis, along with our spatial data-driven efforts like Property Intelligence from our Q1 Winter Release, have been well received by customers and partners. We are actively developing the future of the digital twin and look forward to unveiling more breakthroughs in our Fall Release later this year.”

The company’s total subscribers grew by 28 percent year over year to 1.06 million. Square feet under management rose 33 percent year over year to 33 billion, and spaces under management increased 24 percent on an annual basis to 13 million.

During the first half of 2024, the company’s cash for operating activities improved by 64 percent year over year to $11.8 million.

“Our second quarter results represent continued revenue growth and improvements in Non-GAAP net loss per share year over year,” said Chief Financial Officer JD Fay. “Steady subscription revenue growth, gross margin expansion, and continued operating expense discipline drove our non-GAAP loss per share to $0.02, which is a 71 percent year-on-year improvement. These results underscore our steadfast commitment to profitability and highlight the significant progress we are making in transforming the industry. As we continue to drive the adoption of Matterport digital twins, we are not just experiencing growth; we are shaping a future where digital transformation empowers our customers and redefines the built world.”

Unlike many publicly traded companies, Matterport did not hold a call with investors, which typically serves to provide context to reported earnings and gives investors an opportunity to ask executives questions.

Last quarter, the spacial data company had trimmed net losses by 36 percent year over year.

During the first quarter of 2024, CoStar announced that it was acquiring Matterport for $1.6 billion. The acquisition is set to add a wealth of residential and commercial data to CoStar’s reservoirs.

CoStar will acquire all outstanding shares of Matterport in a cash and stock transaction valued at $5.50 per share, representing an equity value of about $2.1 billion and an enterprise value of about $1.6 billion, based on CoStar’s common stock closing price on April 19, 2024.

Email Lillian Dickerson

At Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed. Join us.

Each week on The Download, Inman’s Christy Murdock takes a deeper look at the top-read stories of the week to give you what you’ll need to meet Monday head-on. This week: Ed Zorn, Anthony Lamacchia and others weigh in on buyer agreements, commission sharing and everything you need to know about the new forms.

“How will you communicate offers of compensation?”

“Are you still using MLS PIN?”

“Are you going to allow broker-to-broker sharing of commissions?”

This week, broker Anthony Lamacchia shared just some of the questions he’s hearing right now as the Aug. 17 implementation date approaches.

“There’s a little bit of this awkward period of, ‘Well, what do we do?’” Lamacchia said.

The time has come to make sure you have an answer to that question.

Whether you’re taking a class at the local association, sitting in training at your brokerage or asking your favorite mentor for advice, this is the time the rubber meets the road. Part of being a real estate expert is knowing your forms backward and forward and answering client questions. That means getting up to speed on paperwork, policies and the logic behind the changes.

That being the case, in this week’s Download, we’re bringing you resources, expertise and thought leadership that’s all about getting your ducks in a row for the real-world shifts ahead.

In the first in a two-part interview with California Regional MLS General Counsel Ed Zorn, Inman’s Andrea V. Brambila discussed impending changes to the commission structure and how it will impact agents.

Zorn is not only the vice president and general counsel of the nation’s largest multiple listing service, California Regional MLS, he is also president of real estate investment firm ZEC Investments, a mediator and arbitrator of real estate disputes, and a former adjunct professor of real estate at California Baptist University.

He held a California broker license for many years until it expired in 2022, and has held a broker affiliate license under eXp Realty in Tennessee since 2019.

In the Q&A, Zorn talked about his upcoming appearance at Inman Connect Las Vegas, which will lean into practical, actionable strategies to ensure agents are on the right page when it comes to the nuts and bolts of paperwork and transaction management.

“We’re going to be doing some live role-playing: buyer and seller objections post-Aug. 17,” Zorn said. “James [Dwiggins] is going to moderate and the three of us are going to give examples of “This is what my listing presentation would look like.” “This is how I would communicate things with a buyer.” James will hit us with questions: How would you overcome this objection? Or, what if a seller says, “I don’t want to pay anything?” How do you handle that?”

EXTRA: Ed Zorn to the real estate industry: Get rid of commission-sharing now (Part 2)

The back-and-forth, will-they-won’t-they of industry changes is coming to a head in less than a month. Are you ready? At this point, you need to lock in what you’ll say to buyers and sellers, how you’ll talk about commissions and you need to make sure you know every detail of your new paperwork. Inman contributors are offering plenty of detailed advice to keep you compliant and client-focused.

27 resources you’ll need to be ready for the Aug. 17 transition

Consider this a resource roundup to guide you through the changes you’ll make, the client conversations and even the mindset shifts that are necessary right now.

Commission Crunch: 5 tips to avoid scrutiny and remain in compliance

Clients are watching you now more than ever, compliance expert Summer Goralik writes. Here’s how to implement best practices now, so you can avoid complaints as the industry shifts.

Can you hear me now? Why your clients miss 50% of what you say

Less talk, and more listening. Inman contributing writer Rachael Hite shares the real reason your transactions turn topsy turvy — and why it has everything to do with what’s lost in translation.

At Inman Connect Las Vegas, July 30-Aug. 1, 2024, the noise and misinformation will be banished, all your big questions will be answered, and new business opportunities will be revealed. Join us.

Aspen Valley Ranch, previously owned by Tellurian co-founder and natural gas pioneer Charif Souki, has been sold in pieces after hitting the market for $220 million in 2020, The Wall Street Journal reported on Thursday.

A year after the lavish Colorado ranch was listed, two homes on the 830-acre property were sold for $47 million. Souki ended up in a legal battle with lenders, losing control of the remainder of the property.

In January, lenders bought that property out of bankruptcy for $30.5 million, public records show. Five months later, Bay Point Advisors, an Atlanta-based hedge fund, purchased 300 acres of the ranch from Souki’s lenders, company officials said.

According to Bay Point President and Chief Investment Officer Charles Andros, Bay Point intends to finance the construction of future homes to be built on the property.

“We’re going to end up selling them off,” Andros said.

Souki purchased the property back in 2013 for $27 million. He spent millions building homes and ultimately a “mini-country club” on the ranch where he lived with his family, Souki told The Wall Street Journal. Once construction was complete, he intended to sell the ranch.

After defaulting on over $100 million in loans back in 2020, creditors foreclosed on Souki’s assets and sold them, the ranch included.

According to Andros, Aspen Valley Ranch, located roughly 10 miles from Aspen, consists of 11 residences among other amenities — equestrian facilities, a swimming pool, and a repurposed historic barn for recreational activities.

Bay Point owns five home sites and three homes, one of which the firm intends to put on the market– a $20 million, 5,750-square-foot residence stretching across 98 acres.

Jennifer Banner at Christie’s International Real Estate has the listing.

Email Richelle Hammiel