Real estate professionals all started somewhere. While many industry pros aren’t shocked at new agents struggling to get their footing, it’s not just the newbies who may need business help. Even established agents need a refresher — or even remotivation — occasionally. Or, a real estate pro boomerangs back into the industry.
All of these possibilities are worthy of considering hiring a real estate coach. You may be wondering, I’m already part of a brokerage, why do I need any more coaching?
A real estate coach is unique in their specific focus on the fine details of not only the industry, but also how to best perform and succeed in real estate.
Real estate coaches can size up your strengths and weaknesses and work with you to build actionable business or improvement plans. They can also provide marketing tips, advice for handling clients, help with lead generation tactics, and much more.
Why Work with a Real Estate Coach?
Some more key reasons you may consider hiring a real estate coach include:
- Your local market is heating up: If market activity is on the rise and you find yourself struggling to make the most of it for your business, a real estate coach can help you muscle through the details and create systems and processes to maximize your time investment.
- Time is money: Time management and knowing where to prioritize is crucial to a successful real estate business. A coach can help you decipher key areas of focus and give plenty of real-life tips around scheduling and time management to help you unlock greater work-life balance.
- Getting a plan in place: From marketing expertise to crafting a long-term business plan, a real estate coach’s experience can line up with your weaknesses to turn them into strengths. By partnering with a coach, your real estate business can get on a solid foundation and a steady track with careful, knowledge-backed planning.
- You’re ready to grow: Maybe it’s time for you to switch brokerages. Perhaps you’re ready to start your own team. Or expanding and excelling as an agent is a goal you’re now chasing. For all of these scenarios (and then some), a real estate coach can help you create an actionable plan to reach these goals.
Pro Tip: Still not sure why you may want to work with a real estate coach? Try this: ask yourself where your greatest areas of opportunity are, and where your prominent strengths lie. Write these down on a piece of paper. Then, highlight how each of your strengths currently help your business, and how improving your weak spots could help your business.
For example, if you’re strong at networking, this helps your business by expanding your sphere of clients. If you’re weaker at online marketing, you could improve lead generation if your marketing skills were stronger.
Doing this exercise will help you start to understand where a real estate coach can support you to fill in the gaps and help you grow, and where they can also nurture and strengthen the aptitude you already bring to the table.
A Quick Cost Analysis
When considering hiring a real estate coach, there are a host of factors to consider. Generally, the bigger the name, the larger the price. Typically, a real estate coach can cost anywhere from $300 to $1,500 with price dictated by tenure, level of support that they offer, training materials, and private, hands-on training sessions.
More Affordable Stepping Stones
If this range isn’t within your budget, there’s no need to worry. Other options that offer real estate coaching include:
- Group coaching: Real estate coaches usually charge a lower monthly fee for access to group coaching. Group coaching typically consists of a regularly-scheduled coaching session with predetermined materials by the real estate coach, and the opportunity to hear from other agents in the group as they share their challenges and wins. In addition to receiving coaching at a lower cost, you also get the benefit of networking opportunities.
- Connecting via social media: Countless real estate pros leverage social media platforms like LinkedIn to share their top tips for business success. These tips can come in the form of blog posts or videos, allowing you to also familiarize yourself with the style of the real estate coach and assess if their approach is what you want to emulate for your business. These real estate coaches may also advertise free workshops or networking events via their social media platforms.
- Virtual coursework: Another option is online coursework crafted specifically by a real estate coach. They may offer reports, case studies, pre-recorded videos, or scheduled live virtual discussions for a set, package price. This will allow you to work at your own pace, offer you access to their expertise, and sometimes even a network of agents also taking the course.
How to Find the Right Real Estate Coach for You
When investing in a real estate coach, you’ll want to conduct your own cost analysis through accessibility and the degree of your needs. The timing of real estate opportunities is often unpredictable; you’ll want to have quick, easy access to your coach to help you navigate smoothly through whatever is thrown your way.
A key trait of a quality real estate coach starts with their tenure. The longer an agent has been in business, the more you can trust they’ve earned their wisdom. Their success rate is equally important: what is their reputation for results? Zeroing in on their success milestones like other agents they’ve helped grow, their own deals closed, and their marketing tactics, you can assess if this is a real estate coach you’d want to partner with for your business.
Finally, interviewing is key. While a good real estate coach brings a wealth of knowledge and deep expertise, a great real estate coach meshes well with your personality and business mindset. Making sure you connect is key to maximizing your partnership, and growing your business.
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