Finding A Real Estate Mentor
The first step for a new realist is to find a mentor. Often, it’s hard for beginners to find mentors because they don’t know where to look. When you start your career as an agent, you should develop relationships with people who have years of experience and know exactly what they’re doing. And, you’ve done all the “right” things like a new real estate agent. You’re networking. You’re learning about your market. You’ve created a prospects list. Still, getting started in real estate can be challenging, especially in the first year or so. If you find yourself interested in this profession and want to launch a long and successful career, you might want to find and cultivate a relationship with a mentor early on. So, if you’re looking for one then you have come to the right place.
For today’s blog, exclusive for our Core members, we will be talking about how you can find a real estate mentor. Every would-be entrepreneur is looking for a “mentor”. Mentors can be an incredible asset while building businesses, gaining personal success, and pursuing individual passions. They provide valuable insight into very specific areas of either business or personal life. On the other hand, mentors are figures that will do a lot of hand-holding through all the possible challenges on the journey to success. Your mentor is looked to as a parental figure in your life.
So, what is a mentor? A mentor is anybody who helps you solve problems and work through challenges. They can be inside colleagues or outside coaches. Sometimes they are your boss, sometimes a friend, and all the time they are someone successful who has experience in what it takes to achieve your goals. As with any relationship, working with a real estate mentor means you have to be a team player and there needs to be a mutual give and take between the two of you. For example, sometimes this means being attentive and grateful, but in other situations, it could mean putting in a committed effort to help them achieve their goals.
Mentors are not just someone you contact when something bad happens. Instead, they are there to provide guidance and advice on any issue. For example, they would be able to help with specific problems in your life such as specific directions in your career or investment-related questions. They should be able to guide you towards success without giving you the answer immediately every time. Finding the right mentor is crucial to your success. Discuss your personal issues? Hire a mentor with experience in real estate? These are all questions you should ask yourself when contacting mentors, to be certain of what each person wants.
Now that we’ve defined what a real estate mentor is, and the kind of mentor-mentee relationship you want, here is what you should look for in a good real estate mentor. First, your mentor should be someone who can decrease your learning curve. A good mentor is open to sharing their strategies with you. Look for a mentor who carries themselves in a manner that you find admirable, and approaches teaching by being approachable.
Aside from that, your real estate agent mentor should help you learn the hard skills you need to be successful in the field like how to run open houses, show properties, and conduct listing presentations. They should also have soft skills like handling client expectations, sales, and negotiations.
You should also find a mentor that has a history of both making mistakes, while bouncing back from them. They will be able to help you avoid the same mistakes by drawing off their past experience. Find someone who started at a similar place, such as your age and geographical location. If you are starting new in town, find someone who started their career in a new city. If joining a team, find someone who started out on that team.
Finally, in order to find the best mentor, look for someone that you can work with and who has a personality that suits yours. If you respond well to tough-loving and accountability then you should find an agent that has this approach. If you need a softer approach then look for someone with this demeanor.
Now that we know what to look for in a good real estate mentor, here are the steps to help you find an incredible mentor.
The first step is to become a mentor yourself. Anyone can mentor someone else and help them achieve their goals. Anyone has skills that others need or want to develop, and you don’t have to be a successful real estate investor to do so. Give back by helping others and not just taking. Just consider the areas of your life where you could assist others in pursuing their goals. It could be tutoring, volunteering, or even meeting with new investors who are looking to buy their first property and relaying your experience.
Nothing is as rewarding as seeing a person you’ve mentored, become successful. Seeing them be motivated and see through their goals, can give you an incredible feeling. Even hearing feedback from them can be rewarding! From being a mentor, you will also learn the types of behaviors mentors hate. Mentors hate being asked thoughtless questions more than once. Mentors also disapprove of the direction those they teach receive if it helps them find the answer to their question without having to look any farther. Most of all, they hate laziness.
Next is to define and commit to your objectives. It is futile for someone who has never attempted to do something in the past to have a mentor tell them what to do. Many people, who are looking for mentors, often lack goals or switch goals week by week and month by month. You need to figure out where you want to go before you ask for directions. You don’t know what to do or where you’re going. One day, you want to invest in real estate, the next, it’s the stock market, and next week, you want to start a blog.
Third, you should announce your intentions. Announcing your intentions to others can open up many opportunities. On Facebook, Twitter, LinkedIn, and everywhere else in between, make sure people know what you are doing. You have the chance to connect with professionals who will help you succeed. So, just introduce yourself and announce your intent to the world. If you find someone who is interested in what you’re doing, get their contact information, and reach out after you have time to prepare a proposal. Try to convince people in your current network to share the same goal or interest so that they may help you with your efforts.
You should also identify those who can and want to help you. A great real estate mentor could be a small-time investor with a few properties or someone who has just purchased their first investment property. A bad choice would be to seek the help of someone who has recently purchased many investments, such as a billionaire real estate investor. Find a mentor with similar goals to you, who has had success in the investment field. Take their advice and find success there as well.
The fifth step is to take action and express your gratitude. Not every potential mentor will work out. You don’t need to follow every piece of advice given by a real estate professional, but if you are looking for someone to be your mentor and give you counsel, you must take action based on their guidance and express gratitude afterward in the form of a genuine thank you. You can buy them a cup of coffee, send them a thank you card or email, or give them gifts like flowers or chocolate. Additionally, you should thank your mentor in person, of course.
You should also know why you need a real estate mentor. When you are sick, you look for the best doctor in the area. When your car breaks down, you look for the best mechanic in town. You don’t watch a video or attend courses on how to fix your heart, or research courses online to repair your car’s clutch.
These experts you go to are invaluable because they have a lot of knowledge and experience. If you wanted to do your car repairs yourself, rather than watching a tutorial on YouTube, you would get someone to show you or learn from a friend. Getting professional help will save you time in the long run. If you want to be as successful in business and real estate, it is important to take advantage of these experts who have already walked the same paths.
Next is to identify the kind of mentor that you would like. Understanding why you need a mentor and getting a mentor that matches that need are two different things. To find the right mentor, identify what kind you would like to work with. There is not a one-size-fits-all solution, so sift through the search engine and find the best match for your needs. Choose people who have experience in the real estate market, and know what is best for your interests. They can provide you with advice about what possibilities are best for you, and identify potential pitfalls of any course of action.
Here are a few things to keep in mind. One, Find a mentor close to you, in the same geographical location. Your real estate investment association (REIA) may help you find the right person. Next, is to find someone with qualities that you’d like to have. Also, find mentors who won’t just put you in some classroom setting but will let you see what they do and how they do it. Remember, before engaging in mentorship, you should be open to feedback and not expect your mentor to do all the work for you. And when you find someone you like and admire, get to know them better before you approach them.
The 8th step is to know your mentor. Be sure that whoever you find as your mentor shares similarities with you. You don’t want just any person, but rather a person who has the skills and strengths that you want in order to be successful. Consider multiple people before deciding who it is you would like to approach. When you are researching to find the mentor you want to approach, keep an eye open for any red flags. Here are two ways you gather information on your prospective mentor. Do an online search. Look into the person’s work ethic and see if they match your goals. Also, find out what kind of person they are before getting involved in any projects with them. Next, look at their social media to get a feel for how they operate. Lastly, do some research and read reviews about that person to be aware of any negatives or warnings. You can also read their blogs. When you look at the topics that a real estate agent covered and answers to questions, it’ll help you figure out if they will be able to present topics in an easy-to-follow manner. Interviews can also help you follow their thought process, but blogs are a better resource because they cover more than just one aspect of the topic.
And last but not the least is to reach out to the real estate mentor. This is often not easy. There are some really good teachers, but asking them to teach you can be hard. Also, if money is involved, your mentor might not take you on as a student for free. If you do find a good match for free though, it will be worth it. Just remember that when looking for a mentor it is important to be honest with your intentions and tell the prospective mentor that you want them to mentor you. This gives them the chance to think about it. Simply approaching someone without mentioning their desire for mentorship does not send the right message to the potential mentor nor does it give them a chance to prepare for a true mentorship session.
These steps are essential for finding the perfect real estate peer to mentor you. Following these processes will ensure you form a meaningful mentor relationship that leads to success in your investments. While hard work and persistence can get you anywhere, mentors are experts who can take you to your goal quickly and with fewer pitfalls. With their guidance, you can reach your goals more quickly and with less failure as they offer practical advice for achieving success.
So when you have found the perfect mentor for you. Here are some reminders that you should never forget. The first is to let the mentoring relationship evolve naturally. Keep your expectations in check. Be patient and take your time with the relationship. You don’t want to rush what could be a fruitful mentoring opportunity if it doesn’t work out right away. Like all relationships, nurtured over time, these will become more successful. And sometimes, critical feedback is a good thing. It makes it comfortable enough for you to call each other in real estate mentorship relationships out on things. Your reaction when you get criticism is important to your growth. Accept the criticism gracefully and heed your mentor’s advice.
Doing so will make you better at being a real estate agent, which is what makes you grow as a professional. While mentoring takes real time and work, it’s extremely valuable. Don’t forget to be a good mentee. Follow through on what you say you will do. When you meet with a mentor, take notes, and show yourself to be enthusiastic about the things they show you. If you say that you will implement something they show you, make sure that you do. Too many mentors avoid working with mentees who don’t show much interest or follow-through. So, once you’ve committed to mentoring someone, stick with it! You should be in it for the long haul so that your relationship is rooted in trust and collaboration. Adding a mentor to your career strategy can help ensure that you have success in real estate.
That’s it for this blog CORE Member. What do you think of the steps and tips we’ve shared? When are you going to start, if not today? Let us know in the comments below. And don’t forget to subscribe to our channel, click the notification bell, and like this blog. If you think that we have delivered value please share this blog with one person. Just one share is enough for us, for you to show your appreciation for the commitment and hard work we all put together in creating this blog that teaches and helps you on your mission of building your own fortune. And you don’t know that one share could go a long way. And keep in mind that no matter how many times you’re going to read this blog, you won’t see any results unless you take action. Goodbye and see you at the next one!