3 Things to Consider When Hiring a Real Estate CoachMar 30, 2023
As we all know, getting off the ground as a real estate agent is hard. So hard, in fact, that about 87% of real estate agents fail. Finding a good coach is the first thing I recommend to agents that are struggling, and if you’re reading this, you may be in that position. I’ve had the benefit of coaching agents for almost 5 years and have seen new agents make good and bad decisions when it comes to coaching.
Here are a few thoughts on finding a good real estate coach and three things I tell agents to keep in mind:
1. You want a coach that has a LOT of experience as an agent.
When looking for a real estate coach, it's essential to find someone who has experience in your field. A good coach can help you avoid major mistakes by sharing their knowledge and expertise. They have overcome the challenges that you will face, so why subject yourself to painful trial and error when you can learn from their experience? Look for a coach who has a proven track record of success in real estate and can provide you with references from satisfied clients.
2. Coaching is much more affordable than it used to be.
You don't need to pay thousands a month for coaching if you don't want to. Coaching has become more affordable than ever. There are many affordable coaching options available that will help you get unstuck without breaking the bank. Coaching programs used to cost tens of thousands and only be available to the wealthiest agents. Now, there are options for coaching that are significantly more affordable. You don’t need to spend your life savings to find a good coach. No matter your budget, coaching is accessible to you. At TopNotch Agents, we charge $200/mo for a group coaching call every Monday. Each call serves a specific purpose, and every week there is a Q&A time to help you get unstuck in your business. Additionally, we hold an open office hour each Thursday to address any other needs you may have. Imagine all of the progress you’ll make by getting unstuck 104 times a year!
3. Professional Coaching is Different from Free Mentoring.
While free mentors and coaches can be helpful, there is a difference between someone willing to share advice for free and a professional coach. Professional coaches are paid to help you succeed, which means they have more skin in the game. There is a more significant psychological commitment to following a paid coach's advice because you have invested financially. A paid coach risks losing a coaching client if they don’t help their clients succeed. An unpaid mentor or coach has nothing to lose if they don’t move the needle in your business. While there is a time and place for a meeting with unpaid mentors or coaches, it’s essential to understand that the dynamic changes when you work with a paid coach. Look for a coach who has a structured coaching program that is designed to help grow your business.
At the end of the day, finding a good real estate coach will drastically up the odds of building a long and successful real estate business. So… look for coaches with experience in your field, offer affordable coaching options if you’re on a budget, and provide structured coaching programs.
Take action! Here are three things you can do right now to grow your business.
Action Item 1: Research Coaching Options
Research various coaching options and decide if you want group or individual coaching. At TopNotch Agents, we offer a 60-Day Agent Accelerator that is limited to 10 agents at a time, and we offer ongoing weekly group coaching calls. Our Agent Accelerator costs $2000, and our monthly coaching subscription costs $200/mo and gets you access to two group coaching calls each week. You can schedule a call with me here to discuss these options.
Action Item 2: Figure Out a Coaching Budget
Do you want to purchase one-time programs or subscribe to monthly coaching? Decide how much you can spend on coaching and find a program that aligns with your budget. Some agents find success buying specific coaching programs that cover specific topics, and others benefit from subscribing to monthly open office hours or ongoing coaching calls.
Action Item 3: Find a Coach and Give it Time
You should give your coach several months at a minimum to learn your business, get to know you as a person and deliver value. Good things take time.
So, take some action and continue building your long and successful career in real estate!
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