What’s the secret to being a successful realtor or real estate investor? It’s not the most advanced CRM or the best lead generation strategies, but rather having the right mentor. But where do you find real estate mentors?
To find a real estate mentor, attend mentorship programs like Rev Real Estate School, Keller Williams MAPS, Mike Ferry Organization, Buffini & Company, Craig Proctor, Icenhower Coaching & Consulting, and EXP Realty Mentor Program. These are your best options since they are the most respected and well-known organizations and mentors in the industry.
Ready to find out which of the real estate mentorship programs above suits your needs? This blog got you covered.
A real estate mentor is an expert who can offer guidance and advice to new agents on how to grow their real estate company, identify home selling opportunities, and close more transactions.
Generally, a real estate investor who is a mentor may also be working with the same agency as you or a successful realtor who coaches several other real estate agents.
Finding potential real estate investor mentors in the real estate industry is a proactive strategy to ensure that all of your bases are covered. It is not a sign of inexperience or weakness. Even seasoned real estate professionals benefit from it in scaling their businesses.
Whether you are new to the real estate industry or already a seasoned real estate agent, mentorship is really beneficial.
It is crucial that there’s someone neutral and objective that you can turn to when you are facing issues or roadblocks in your real estate business.
Regardless of your degree of experience in real estate, there may be days when you feel like you aren’t on the right track. And mentors are there to help you sort things out.
An excellent real estate investor who is also a mentor is likely to have the aid you don’t have. They may know of the best services, software, and other business essentials you might need to run your business.
Your mentor will readily share these ideas, tools, and many other resources that might be of immeasurable benefit to your company.
There are so many aspects of a real estate business that you have to oversee most of the time, so you may not have time to focus on the actual work that’ll help you scale.
An experienced mentor will be able to guide your path and provide you with a new viewpoint that you might not otherwise have. They can identify where you’re lacking or where you should focus your energy in your network.
Your overall revenue may increase if you can do business more efficiently. In other words, to operate more cost-effectively, you have to consider some innovation.
Instead of leaving bandit signs, the real estate investor mentor or agent may recommend more modern marketing strategies they are effectively using.
Realtors work in a very complicated industry. Working with a real estate investor mentor or agent means someone holds you accountable for your business. This will reduce distractions so you can concentrate on more important tasks for your company.
A good real estate mentor can be your friend and confidant. They’ll be there for you no matter how your real estate career is doing. Of course, since you’re in the same industry, real estate investing mentor or agent will be able to relate to you more than your other friends.
There is no doubt that real estate is a people- and relationship-based industry. That said, your mentor can help you grow your circle and make you more seen in local networking events. As your circle expands, you’ll be presented with more interested prospects than you would otherwise have.
Mentors enter a business relationship with you because of a lot of things; but ultimately, it is because they see potential in you. This doesn’t mean, however, that they’ll do everything for you. Here’s what you should expect from mentorship.
In order to find the right mentor, you should know your mentorship needs. Typically, real estate agents or local real estate investors know the pain spots of their business so they look for mentors who can help them with it.
However, if you don’t know what type of mentoring you need, you may want to focus on your mindset, interested business growth, and operations.
Many real estate agents and real estate investors don’t actually grow because their mindset is tying them down. A great real estate investing mentor or agent could help an agent think like a champion and grow significantly.
Some agents and real estate investors also need a mentor who will contribute fresh concepts for finding leads on single-family homes or investment properties in order to close more deals. They also need someone who can point out certain operational practices that are hampering their growth as a real estate agent.
Once you have identified what your career mentorship needs are, it’s time to learn how to get a real estate mentor to help you build wealth. Here’s how you can find one!
You should not expect a potential mentor to be perfect, but that doesn’t mean you won’t set high standards when choosing one. Here’s what you should consider when looking for a real estate mentor:
Before you enter real estate mentoring, you already have expectations. But real estate mentorship won’t magically solve your problems nor is it an entitlement to someone’s time.
Moreover, real estate mentorship isn’t black and white. Not everything potential mentors or other investors would say would actually work for you, especially lead generation, negotiations, property management, and other aspects of your business. That said, you should manage your expectations.
Another thing to remember is that there are various forms of mentoring including apprenticeships, one-on-one mentoring, group mentoring, etc. While you may think of real estate mentoring as a personal experience, you may actually join a larger group as most mentors prefer to teach in batches.
Lastly, a great real estate investing mentor or other real estate investors won’t seek you out. You'll need to approach them, prove you are worthy, and give them a good incentive so they’ll work with you on your path to success.
While the terms mentor and coach are often used interchangeably, such is not true in real estate.
Real estate coaches will hear out your business problems and help you figure out solutions. Although this includes long-term planning, the main focus of real estate coaches is on providing you with an action plan. Instead of extensive planning and strategizing, they place greater emphasis on how your business operates.
Meanwhile, real estate mentors focus on long-term planning. They provide advice and direction on how you can grow as an agent and scale your real estate business for the long term. They build your success through a strong personal foundation. Your relationship is also a blend of a colleague and a friend. They also may suggest investing in real estate within your local network.
Similar to realtors, new real estate investors should also consider getting a mentor. The best real estate investing mentor is one with real estate investing skills gained from experience. They should have started investing years before working as a mentor so they have a lot of tips and strategies to share.
Moreover, the best real estate investing mentors may suggest you also start investing in real estate full-time. But before doing so, they'll teach you the real estate investing skills required which may include:
Before you consider a real estate investment in your local network, make sure you're paired with the best local investors who are willing to share what they know. Make sure they're backed up with years of experience.
The most effective real estate mentoring programs come with a fee. This is because the organization ensures that the real estate mentor you're working with is dedicated to helping you and they have been thoroughly screened.
If you are able to find a free real estate mentor program, you shouldn't count on the prospective mentor to be available all the time. Remember, they do it for free and at their convenience so you cannot expect one-on-one mentorship.
If you need a real estate mentor that can help you achieve success, you should expect to pay a few thousand dollars. Note that this cost varies depending on the experience of the mentor, the time they’ll allot to you, your needs, etc.
Some expert mentors even charge upwards of $50,000 so you should really save money.
There are lots of real estate agent mentorship programs out there but only a few of them can help you find success. We’ve rounded up some of the best programs to get you started.
REV Real Estate School offers two major ways to help you grow your business: The REV Sprint and REV Scholar.
The REV Sprint is a comprehensive, live training course that teaches real estate agents to generate leads and increase their SOI and market recall. Meanwhile, REV Scholar creates specialized training programs for real estate teams and modifies its content according to your needs.
The mentors from Keller Williams MAPS will help you determine your real estate weaknesses, identify your team’s individual talents, and pinpoint your development needs so that no skill gaps, blind spots, or even poor habits can prevent you from upscaling.
Aside from mentoring, they’ll help you gain access to the best tools so you can put what you learn from them into action.
The Mike Ferry Organization boasts 47 years of professional experience and coaches who have successfully used the Mike Ferry Sales Method in their own professions.
The man behind this organization, Mike Ferry, is voted by the National Association of Realtors as the Most Influential Real Estate Coach in North America. Currently, they are considered a global leader in real estate training and mentoring.
The goal of Buffini & Company for more than 25 years is to impact the lives of real estate agents by sharing effective lead-generating methods and more.
To date, more than 3 million real estate professionals in 45 countries have used the company's assistance to grow their businesses, improve their quality of life, and significantly boost their net profits.
Craig Proctor offers a free breakthrough call where their team will share turnkey systems and advice to help you grow your business.
They also have a SuperConference program where they share in-depth instructions, access to their marketing tools, and other useful tips that they’re using to sell more than 500 single family homes, investment properties, and commercial real estate yearly.
Icenhower Coaching & Consulting offers more than real estate agent coaching. They provide special training tools and systems, books and premium materials, training sessions, online courses, and more.
Each Icenhower Coaching & Consulting coach has a particular area of expertise. They match each real estate agent with a coach using the DISC behavioral style. They also assess their strengths and shortcomings in the business.
The EXP Realty Mentor Program offers newly licensed agents a way to learn the core skills of the business. Via eXp's learning management system, the real estate agents of mentees will finish a ten-module course covering real estate basics.
Within 90 days after being matched with a real estate mentor, agents are expected to finish this self-paced online course.
Similar to a real estate agent mentor, an investing mentor is a real estate expert that is willing to share what they know about the industry.
They coach both new and seasoned real estate investors so they can be the best in their field. They also share the best tools and real estate strategies so their mentees can achieve financial freedom.
To find a real estate investing mentor, go to networking events, enroll in paid mentorship programs, attend online forums, attend paid conferences, listen to podcasts or read books, ask your existing network for a mentor they know, or find potential mentors in social media.
Attending a mentorship program or having a personal real estate mentor is something you should definitely consider if you wish to grow as a real estate agent. They can offer the best advice, tools, and strategies that can help you make more money in the long run.
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