If you have been paying any attention to the news lately, you have probably heard some of the buzz surrounding the real estate market. It seems like houses are selling like hot cakes right now! I have been looking to purchase one, and it has honestly been quite difficult to find ones that do not sell almost instantly. That being said, this has not made becoming a real estate agent any easier. It seems like the need for assistance and coaching has only increased since this boom in the housing market, since there are nearly not enough agents to go around!
If this is a career that you are thinking of pursuing, make sure that you stick around today. I will explain what a coach is and what they can bring to the table for you.
Understanding Real Estate
I think that the first step to this is knowing what real estate is and what it means to enter this market. After all, without this base knowledge, you will be a fish out of water even if you get the best coach that has ever lived. It can be defined as any land and structures built on said land that are permanent fixtures there.
So, that could be a home, like we traditionally think of, but also office buildings or any other types of structures. This is definitely something to keep in mind if you decide to enter this field. Do not limit yourself to just selling homes!
It is probably a good idea to get familiar with the five different categories of properties that have been classified. These are commercial, raw land, residential, special use, or industrial. Each has its own unique qualities and differences in sales techniques to approach with, so that is why I mention them.
The last thing I want to write about in this section is that this market makes up a large portion of the economy in many countries, but especially here in the United States. That is likely why it is reported on so much in the news and online. It is certainly something that we can capitalize on, but only with the proper training.
What is Coaching, then?
This is where things do get a bit more complex, as I am sure you can imagine. There is no one style of coaching, so it is difficult to quantify a specific definition. Despite that, I am going to do my best.
Now, if you are looking for an example of this, you could check out KristaMashore.com or some of the other pages like this one. I find that I tend to learn via practical demonstration, so that is one route you could take. Otherwise, though, allow me to explain the purpose behind one.
Something we all need to keep in mind if we are looking to go into a career path such as this one is that a lot of it will come down to who you know and the connections that you have made. As frustrating as it can be sometimes, this is often what makes the world go ‘round. There is nothing wrong with using this knowledge to our own advantage.
So, part of the practicality of getting a coach is making a valuable connection with a real estate agent who is already successful. It will end up being a fairly mutually beneficial partnership in the end if you do it “correctly,” so it can work both ways! Try to remember that.
In a relationship like this, the coach provides valuable mentorship to help you hone your own skills. The exact terms of the agreement will obviously vary depending on the mentor. Just do not expect the services to come for free, even if you already know the person.
Usually, there is some sort of contract where you share the profits of your sales with them. You could also simply pay them outright. Either way, the intention is that they will teach you the ins and outs of becoming a real estate agent.
Obviously, you should already be certified to practice before you begin the process of finding a coach. Otherwise, you are wasting your own time. Without the proper licensing, you cannot be an agent. If you put enough time into it, though, you could eventually become a broker.
What are the Benefits of this?
Since I have covered what it entails, let us get into the potential benefits now. Of course, there is a reason that so many people get their start in this field by going down this route. One of those is as I mentioned above: forging a connection with an experienced agent that will open up your contacts inherently.
What else is there, though? Well, obviously there is mentorship. They can give you practical knowledge that you probably did not learn in any classes or while studying for the tests.
Real estate involves a lot of trial and error, especially at the start of your career. A coach can guide you through this process. It is always okay to make some mistakes, since it helps you learn and grow. They can simply mentor you as it happens and help you to understand why a deal falls through.
Of course, the perspectives that they can lend to your predictions can be quite invaluable as well. They have experience in this, after all, so they can likely offer some insight into what your own projections on price should be. Working with clients is often a delicate balance that a coach can help you to understand on a more practical level.
So, if you are sold on this concept and are ready to find one, you can probably go to your search engine of choice and simply search for “real estate coach.” I provided some examples here, too. Try checking out testimonies from other customers if you are opting to pay someone to mentor you. Do not forget that the relationship should benefit both of you, of course.