Working as a real estate agent has its highs and lows.
And the feeling of uncertainty isn’t just exclusive to new agents. Seasoned professionals go through rocky paths in their careers, too.
During these times, agents turn to professionals, known as real estate coaches, for help. However, many agents are still hesitant to use their services.
This is why, in this article, we will answer the questions most agents have about real estate coaching.
What do real estate coaches teach and why should you hire them?
How much does real estate coaching cost?
How can it help you?
Let’s find the answers together.
What Does A Real Estate Coach Teach?
Real estate coaches are industry professionals with years and years of meaningful experience in the business.
They are the champions of real estate, mentors with more than just pieces of advice to offer. If there is anyone you want to learn from, it’s them.
They will teach you how to effectively generate qualified leads, close deals, nurture networks and relationships, and build a career that is geared for success.
Some real estate coaches also specialize in specific fields, such as advertising and marketing, while others focus on personal guidance and consultancy.
How Much Does Real Estate Coaching Cost?
Getting help from the best of the best often comes with a hefty price tag. I mean, professional advice isn’t free.
Many agents who have used the services of real estate coaches reported that they spend between $300 to $750 monthly.
The Mike Ferry Organization (MFO), named after its founder, a known expert in real coaching, charges around $650 a month for a one-on-one package.
Meanwhile, Buffini and Company, a coaching firm with over 10,000 subscribers, charges monthly fees that start at around $500.
While it’s true that the cost can be a deal-breaker, especially if you are a new real estate agent, you can treat these costs as an investment for your personal and professional growth.
So you may be wondering, what’s the ROI (return on investment) of coaching?
Well, it largely depends on you and how you put your takeaways from coaching to practice.
According to a study by Inman, many agents claimed that their careers increased by 10% during the first year of working with a coach. They also said that coaching provided them some of the things that brokerages cannot, such as accountability, consulting, and motivation.
If cost is a huge consideration in helping you decide whether or not to hire a real estate coach, you can start by taking advantage of free consultations.
How Can Real Estate Coaching Help You?
Apart from teaching you the ins and outs of real estate and letting you in on industry secrets, real estate coaching can help you improve your life in general, in a way.
A good real estate coach will teach you how to properly set goals and how to meet them. They will also help you stay on track so you don’t lose focus on what’s important.
What’s more, they will assist you in identifying what you need to improve on, such as skills and attitude.
A real estate coach will even help you see the strengths you have that you may be too blind to notice.
At times when you may be too self-critical; your coach will make you realize your untapped potential and help you build your confidence. A real estate coach can serve as an objective party who will properly evaluate your performance.
Most of what a real estate coach offers are often invaluable, such as encouragement, inspiration, and commitment to helping you succeed. Whether you are a newbie agent or a veteran, a real estate coach can give you new perspectives on your career.
A brokerage will often leave you to fend for yourself, whereas a real estate coach will be a trusty partner who can provide accountability and moral support.
Pros and Cons of Real Estate Coaching
Below is a summary of the pros and cons of real estate coaching:
|1. Real estate coaching gives you a competitive advantage. You learn a significant amount of new ideas, best practices and acquire a ton of industry knowledge. |
2. It helps you build confidence.
3. It encourages you to play up your strengths and minimize your weaknesses.
4. Real estate coaching teaches you accountability. Your coach helps you stay focused on your goals by scheduling regular sessions, providing you with the nudge you need to keep being motivated.
5. Real estate coaching can help bring career growth. The strategies you learn and apply can contribute to increased listings and buyers, and consequently, increased profits.
|1. Real estate coaching entails a monthly cost that ranges from around $300 to $750.|
2. It requires commitment. You will need to make time to attend coaching sessions. Some will last several months, if not one year.
3. Results are not guaranteed. Ultimately, it depends on you to make the most out of your investment in real estate coaching.
Real estate is a tough industry.
Oftentimes what agents need is someone who will guide them in the right direction. Someone who is experienced and extremely knowledgeable.
So if you are looking to improve your real estate career, and you have the budget for it, real estate coaching may be the solution for you.
There is no better way to know the best-kept secrets of the industry than learning it first-hand from a professional who has been through the path you are still taking.
Keep in mind, though, that coaching doesn’t end with you listening to professional advice. In the end, it is still up to you to put into action everything you learned to prepare yourself for success and growth.