It is a bit of an understatement to say that entering the real estate market is intimidating at the moment. With the state of current events, rapid rates of inflation, and lingering economic crises in the wake of the COVID-19 pandemic, it is easy to feel like things are hopeless. It is not exactly inspiring for investors of all sorts.
Still, there are plenty of opportunities to be had. We just need to know the right places to look! One possibility that I find is often overlooked is getting into real estate. There are a few different ways that we can get involved, but without proper guidance, it can be a challenge. That is why I will be discussing coaching programs today, so if that sounds of interest, be sure to continue reading!
What is Real Estate?
I think it is probably best to start here, because while many of us have a vague idea of what is involved, I do think it is worthwhile to consider this question. If we break it down, it is simply a term for property – both the land and the structures built on it. Do keep in mind that it is not the same as personal property such as a car or a boat, as those are privately owned and not intrinsically tied to the land.
One more point here – it is not exactly a new concept. People have owned land as far back as Roman times and in ancient Greek societies. Still, its popularity is largely tied to Europe, as other parts of the world did not emphasize it much until post-colonization.
What is Real Estate Coaching?
Now, let me dig a bit deeper into the main topic of today’s article. Whether you are experienced in this field or are a newcomer, sometimes establishing our business can be hard. That is what being a real estate agent involves, even if we do not realize it at first.
You have to create your own connections, sales, and figure out how to maximize profits in the meantime. There is a lot to juggle, and sometimes we feel completely lost. That is where a coach can come into play.
They are there to assist you in creating these things. Primarily, generating a database of leads and building relationships, as those are some of the most important things in this industry. You can see some examples on KristaMashore.com if you want to see more!
How Can They Help?
While I did explain this briefly, it certainly merits more of an in-depth discussion. It might feel like a waste to hire someone just to teach you the ropes, but there is more to it than that. Part of it is a give and take sort of relationship.
Think about it – rarely do we want to do something to help someone else without at least a small amount in return, when it comes to the business world at least. Hiring someone can allow you to tap into their market of connections, for example. Of course, it is not the only thing they can offer, though. Here’s someone known for growing high-performing teams with stories, relationships, cultures and systems.
You should probably look for one that is quite experienced in the industry. That way, they can offer you valuable insights and information about how they got established. This can help you eventually do this on your own, as well!
Personal consultancy is probably the biggest ticket “item” on the docket of why a coach could be work it for you. While we can look at websites like this one to see some of the data and statistics about what is selling, a bit more finesse is often necessary to truly land a sale. That is what they are there to guide you on.
What to Look For
As you can probably imagine, there are some specific qualifications that you should look for as you select someone to work with. While this point may seem obvious, I think it is worthwhile to mention it anyway: choose a real estate coach that you get along with. If you do not enjoy their communication style or company at all, it will probably not work out.
Other than that, what should you seek out? One thing is having some prior experience in mentoring other agents. You can ask about previous people they have assisted or talk to those other trainees yourself to get a better understanding of the full picture. This can give you some hints on whether their coaching will be valuable to you or not.
An understanding of the marketing needs that real estate agents have right now, especially given the COVID-19 pandemic, is another thing that is quite important. A lot of realtors have turned from hosting open houses to instead holding virtual events to show off properties. This means that the marketing strategies must shift to meet this changed landscape.
Next, a good real estate coach can help you to hone your strengths as well as improve in your areas of weakness. It is nothing to be ashamed of, after all – everyone had things that they struggle with. So, having a mentor figure who can help you in both areas can be quite valuable to your professional life.
Finally, they should be available to speak with you and consult often. Sure, it might not be twenty-four hours a day and seven days a week, but a coach should make time for you!
So – are they worth it?
To some extent, I cannot definitively answer this question. That is because it is largely personal preference. That being said, if you are truly committed to improving in the real estate industry, you will likely find that you can reap the benefits of having a coach to guide you along the way. It is not the only way to succeed, but it is a proven and viable one. If you do decide to go this path, I wish you the best of luck in finding a mentor that suits you!