4 Reasons Why You Need a Real Estate Mentor
While one can gain knowledge of the real estate market on his own through the information available online, having a real estate mentor is more effective and financially rewarding. Here are the key reasons why a real estate mentor is a necessity for your long-term success in the real estate market.
The real estate business can be very profitable. The value of the professionally managed global Real Estate investment market reached $9.6 trillion in 2019, up from $8.9 trillion in 2018. Yet, this same business can also be very tricky: since it always changes, one should trade in real estate with great care and caution. A pitfall in real-estate deals may cost tens of thousands of dollars per deal. On the other hand, a deal that is properly researched and executed can generate tens or even hundreds of thousands of dollars in profit. Real estate sales commissions are also generous. However, as a real estate trader or salesperson, you need to be very well aware of how the market itself works, the changing real estate laws, standard practices, ways of connecting with potential clients, maintenance costs, and demand trends of the market, among other volatile elements. While one can gain knowledge of the real estate market on his own through the information available online, having a real estate mentor is more effective and financially rewarding. Here are the key reasons why a real estate mentor is a necessity for your long-term success in the real estate market.
First off: What is Mentoring?
Mentoring is when a highly experienced and knowledgeable veteran of an industry personally assists your progress by directly sharing with you his/her knowledge, experience, and skills. The process is informal and is greatly driven by the quality of the relationship between you and the mentor. It can be short-term or long-term. More importantly, mentoring is beyond just giving advice. It is about personally motivating and guiding you to identify your strengths and weaknesses and empowering you to build your road to success in your field. It is a support system you can refer to not only for professional but also for personal development.
Wealth of Knowledge
What is unique about a mentor is that his knowledge extends beyond just the specifics of the market or the job professional. He or she has a wide knowledge about a variety of issues, including personal habits, self-help, communication skills, sales skills, time management skills, people’s skills, among others. Given their experience, mentors can provide you answers about questions you may have never asked before and ideas that you may have never thought of. This is especially important for newcomers, who may not figure out the real estate business process, aspects and nuances all by themselves,
The value of the real estate mentor experience is in its variety: it includes both the successes and the failures, the challenges, and the skills. This would allow you to be well equipped to handle almost any problem you may encounter, externally (from the market) or internally (personally). A mentor makes this possible because first, they have personally experienced themselves, while it is new, unchartered territory for you. Second, the mentor knows which is the best manner of handling it, and so they can help you navigate through it successfully, no matter how tricky of a situation it may be. For example, knowing how to take appointments and seal a real-estate deal with high net-worth individuals needs specific communication and sales skills which you may not know about, but have the potential to bring you thousands of dollars of income. A mentor can guide you through every detail of this process, from making the phone call to signing the contract.
A Confidence Boost
Dealing with a multimillion-dollar business requires a great deal of confidence and self-esteem. It is difficult to obtain that if you are unsure of the strength of your knowledge and skills. With a mentor, you can receive the confidence you need to keep moving forward without second-guessing yourself. At times, some people around you can discourage you from dealing with the real estate business. This may lead you to doubt in yourself and the mentor can give you the confidence to ignore the negative naysayers and proceed in your journey against all the odds.
Having a mentor is essential if you are starting a career in real estate and do not wish to be left alone amid uncertainty and unanswered questions. Whether you are a fresh graduate or considering a career switch into real estate, this new business field may seem like a minefield to you. A mentor can come in as someone who will “hold your hand” from the start: teach you the basic steps in analyzing deals, talk things through with you before your first sales meeting or even introduce you to the key industry players and events. More than a relationship of guidance, a mentor can be a partner for you from the start. Note that many mentors already had the mentors that helped them cruise through a successful career over the years.
Keep It Natural
A real estate mentor is best found through a relationship that develops naturally into a mentoring relationship. This can begin by getting to know a real estate expert through the work environment, a networking event, or a conference who is willing to offer his experienced opinion on your ideas and questions. If the flow of the conversation shows that he is ready to welcome more future questions or communication from your side, you can either approach him and request him to be a mentor or proceed in the relationship and let it develop naturally into a mentorship relationship without the need to explicitly mention it.
Your Next Step
Now that you’ve learned about the value of real estate agents, it is time to give it a try. Companies like Agent Mentor provide a convenient platform for offline and online mentorship with dedicated tools to assist you to become a successful real estate agent. The company provides direct support to those seeking to start their professional careers in real estate. So you need not worry if you are a newcomer to this market or have zero experience. Agent Mentor uses a variety of courses, tools, and dedicated mentors to guide you through every step from scratch. No more guessing or uncertainty – instead, Agent Mentor will make sure you are ready to lead your growth in the real estate career. This mainly begins by ensuring every participant makes the best use of his contacts and potential client, training them to develop small, easy-to-adopt habits that lead them to naturally become professional agents and not salespeople. After all, buying a home can be a stressful and costly investment. Buyers not only need to feel well-served, but they also need clarity on the details from a professional they can trust as their advisor and consultant, not a profit-oriented salesman that ends the relationship when the contract is signed. Through a comprehensive program that works on the agent’s mind, body, health, and skills, Agent Mentor’s team turns its students into professionals who work with the discipline, consistency, and attentiveness needed to maximize customer satisfaction. This guarantees the exponential growth of your career.
A real estate mentor can be the difference between sleepless nights and peaceful sleep. This is because the real estate sales or investing journey can be challenging and highly risky if done alone. The internet and books can indeed provide a wealth of knowledge, but nothing beats having a real expert beside you to guide you at every step and develop a rapport with you until you achieve your desired real estate success. Learn more about Agent Mentor now before you go too far ahead in your real estate career. Starting is free (yes, free!), and provides you with daily instructional e-mails, a digital journal of task management and productivity principles, besides access to a customized customer relationship management software. Commitment starts at $49 per month. For a relationship that can be worth millions, it sure deserves the investment.