Do You Run a Dream Team or a Family?
Are you leading a high-performance dream team or a comfortable family in your luxury real estate business? Discover the key differences between the two approaches, and why a dream team mindset is crucial for success in this competitive market.
As a team leader or broker in luxury real estate, you’ve likely spent hours strategizing how to build the best team possible. But let me ask you this: Do you run a dream team or a family? It’s a critical question because how you answer determines whether you’re cultivating a high-performance machine or a comfortable—yet potentially complacent—group.
Luxury real estate demands excellence. The market is unforgiving, clients are discerning, and competition is brutal. With these factors in play, it’s essential to consider what kind of environment you’re creating for your team. Are you building a dream team, where everyone’s talent is maximized, or are you fostering a family-like culture, where relationships and loyalty outweigh performance?
Dream Team: Performance-Driven Excellence
Let’s start with the dream team concept, where every single person on your team is a high performer or they aren’t on the team anymore. They know their role, they excel at it, and they push the boundaries of what’s possible. In a dream team, you have accountability at every level. No one gets a pass just because they’ve been around a long time or because they’re likeable. Here’s the kicker: everyone knows they’re there to be the best, and they’re motivated by being surrounded by other top players.
In a dream team, you ask yourself the Keeper Test regularly: “If this person wanted to leave, would I fight to keep them?” If the answer is no, it’s time to reevaluate their role. Harsh? Maybe. But luxury real estate isn’t a playground, it’s a battlefield. You need to know that every person on your team adds undeniable value and that you’d go to war to keep them. If not, why are they there?
This doesn’t mean you become cutthroat or cold. It means you become focused. A dream team operates under a shared vision where everyone knows that the price of admission is continuous improvement. There’s nothing wrong with high expectations when the reward is success for both the team and the individual.
For team leaders, this environment fosters growth. High performers want to be around other high performers. In luxury real estate, where the stakes are always high, you can’t afford to keep people who are merely “good enough.” Your clients expect excellence, and it’s your job to deliver. Dream teams create a culture where excellence is not the exception—it’s the baseline.
Family: A Culture of Comfort
Now, let’s talk about the family model, where everyone is loved unconditionally. A family-oriented team can feel comfortable, maybe even warm and supportive. In this culture, people stay because they feel accepted, and loyalty is prioritized over performance. This might sound appealing, especially in an industry as relationship-driven as luxury real estate. But let’s be real: this approach can easily lead to mediocrity.
When the primary focus is on keeping the peace and maintaining long-standing relationships, performance can take a backseat. You may find yourself holding onto team members who aren’t pulling their weight simply because they’ve been with you for years or because firing them would feel too harsh. In a family, people are accepted unconditionally, which can foster a sense of security—but that security often breeds complacency.
Think about the message this sends to your top performers. If they see you tolerating mediocrity for the sake of harmony, what’s keeping them from looking elsewhere? They’re likely the ones pulling most of the weight, and they’ll eventually grow frustrated if they feel they’re being held to a higher standard than the rest of the team.
A family culture may work in certain industries, but in luxury real estate, where every deal has significant stakes, it often leads to stagnation. When everyone is safe, there’s little motivation to push beyond comfort zones. And let’s be clear, luxury real estate is not a “safe” business—it’s dynamic, competitive, and demanding.
Why the Dream Team Wins in Luxury Real Estate
So, why does the dream team model work better in luxury real estate? Because in this industry, performance is everything. Clients expect more than just competence—they want a team that’s firing on all cylinders, delivering results, and exceeding expectations. The best luxury real estate teams aren’t just “getting by,” they’re setting the standard. They’re closing deals others can’t, building relationships that others aren’t even in the room for, and mastering markets that seem impossible to break into.
Dream teams thrive because the expectation of excellence is shared by every member. There’s no room for someone to coast by because they’ve been part of the team for years. The Keeper Test forces you to confront the hard truth: if you wouldn’t fight to keep someone, they probably don’t belong on the team. And that’s okay. It’s not about being ruthless—it’s about ensuring you have the right people in place to meet the demands of your clients and the luxury market.
A Balanced Approach?
You might be thinking, “Can’t I have both?” A team that feels like a family, but also performs like a dream team? It’s possible, but it requires clear communication and boundaries. Your team needs to know that while you value relationships and loyalty, performance is non-negotiable. It’s about creating a culture where everyone understands that being part of this “family” means striving to be the best.
Ultimately, the question you should ask yourself isn’t just “Do I run a dream team or a family?” It’s “Am I building a team that will push us all toward success, or one that’s simply comfortable staying as we are?” In luxury real estate, the difference between the two is what separates those who thrive from those who merely survive.
Luxury real estate is an art form, and Real Estate Luxury Leaders is here to help you perfect your craft. Through our bespoke coaching, we empower agents, brokers, and teams to meet the highest expectations of the luxury market. With tailored strategies and insider knowledge, you’ll turn every challenge into an opportunity to excel. Step into a world where your success becomes synonymous with excellence. Real Estate Luxury Leaders is your partner in that transformation.
