At least once a month I have the privilege of training 150 to 400 new real estate agents in Northern Illinois for our multiple listing service. I enjoy speaking to the newbies because they are extremely motivated and ready jump in start working with buyers and sellers. Whenever I teach I always provide a lead generation tip that can be used immediately. Really, this is my way to get an agent to sign up for more classes. Many new agents just want to know how find a buyer or seller without spending additional money in the first few months of their career. And what’s great about our multiple listing service is that you can find potential buyers, sellers, move up buyers, people that are likely to list, pre-foreclosures, a list of addresses from a specific subdivision and more. If you can think of a way to generate a lead it can probably be found in one of the tools provided by Midwest Real Estate Data. By the end of our 3-hour class I have agents that are ready to learn and I many are looking for a mentor. I’ve been asked to be a mentor after, just about, every class.
So let’s talk about mentorship and what it really means to be a mentor. “Mentorship is a relationship in which a more experienced or more knowledgeable person helps to guide a less experienced or less knowledgeable person.” (Wikipedia) The key word is “guide”. Many new agents need a mentor but they also need a trainer and or a Coach. So before you ask someone to be your mentor think about what you really need.
Mentor – Someone that provides guidance to someone that is less experienced. This person mentors someone that WANTS to LEARN. If you are unwilling to learn it will be hard to work with a mentor.
Trainer – A person that teaches a skill to another. (Webster)
Coach – “Coaching is a form of development in which a person called a coach supports a learner or client in achieving a specific personal or professional goals.” (Wikipedia) Coaching often differs from a mentorship. A coach often provides tasks and objectives to the person being coached. A coach can also follow up to keep an individual on tract to reach their goals.
So who do you need help from? A Mentor, Trainer or a Coach? You may need all three. However, as a new real estate agent training is extremely important in your real estate career. Learn the tools, learn how to generate leads, create a market report, how to negotiate and close on a sale. Then once you have a working knowledge of the tools find a mentor. Your sponsoring broker may recommend a mentor from the office. Then, when you are ready, hire a coach.
Always remember the person you may want as a coach just might need to be your mentor. The person you want as a coach may need to be your trainer. And the person that you want as a mentor may be an awesome coach.