Real estate, like professional sports, is a highly-competitive, team-oriented business that features many standout players. Like the coach who needs to get everything from their athletes and the professional who wishes to leverage the most from their talent, successful coaching comes from knowing yourself and the affiliated agent you’re mentoring, and neither of you trying to fill someone else’s shoes. Let me explain.
The first step in coaching is to discover upfront where the passion lies with each agent. Is it being a listing agent? A buyer’s agent? Being part of a team? Working with investors?
As we know, it’s difficult to work at something you’re not passionate about. Plus, by identifying their passion, you will help to increase your associate’s real estate discipline. Remember, top producers are not reinventing the wheel; they’re consistent at the day-to-day traditional sales activities, e.g., they wake up early, follow up with clients, contact their sphere of influence, prospect, meet their listing appointment goals, and role play with peers.
The next step in the coach/mentee relationship is helping agents hold themselves accountable for their daily habits and short- and long-term goals. Coaches know, and want from their students, a mindset that recognizes the power of consistent baby steps and not the occasional giant step. I can tell you from personal experience, it takes time to commit to that kind of mindset. For example, it took me multiple schools, countless hours and nine months of hard work and dedication to get to the right frame of mind and eventually become a proud member of the elite 75th Ranger Regiment.
The third step is time management. While goals should be realistic and specific, so should time management. Coaching should take place on the same day of the week at the same time, either weekly, biweekly or monthly. Coaching sessions should be a mix of in-person, phone and online sessions lasting no more than 20 minutes.
Not all agents will want to be coached, so coaching should be offered, not mandated. It’s best to start with associates who are eager, or those with whom you have the best relationship, before gradually expanding the number of agents you partner with. Other associates will show an interest in coaching when they see the production of their peers improving.
Coaching can certainly increase agent production and help your company be more profitable, but it can also serve as a relationship barrier against other companies attempting to recruit your top producers. Plus, the agent you coached can become your best recruiter as they willingly share their success with other industry professionals.
Coaches help sports teams win, and they can certainly help you and your affiliated agents excel in the competitive business of real estate.
Alex Rozwadowski is a broker with CENTURY 21 Premier Real Estate.
For more information, please visit www.premierc21.com.
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