Finding a Real Estate Agent Mentor
Aside from experience, having a real estate mentor is a great way to gain knowledge of the industry. Real estate mentors can show you the ins and outs of the business, how to make yourself stand out in the sea of competition, and give you valuable insight to start your career on the right foot. This guide will walk you through what to look for in a real estate mentor, finding a real estate mentor, how to find a real estate mentor who is right for you, and the benefits of real estate mentorship.
What Is a Real Estate Mentor?
Real estate mentorship provides similar value as an internship does in other fields. Real estate mentors offer knowledge of the industry but can also provide valuable insight into your market specifically. They can tell you what’s worked well for them, what you should avoid, and help you to roadmap your career.
That said, real estate mentorship is not just about you. The best mentorships are mutually beneficial. Yes, that probably means you may need to pitch in and fulfill menial tasks, but in the world of real estate, you have to crawl before you walk. The harder you work to benefit your real estate mentor, the more likely it is that your mentor will reward you with valuable information for your future. Some brokerages offer a real estate mentor program to connect new agents with seasoned veterans of the industry but, if your brokerage doesn’t offer this program, our tips can help you to discover how to find a real estate mentor on your own.
Finding a Real Estate Mentor
This goes without saying, but you need to find a real estate mentor who suits you well. If you don’t get a good feeling from your first encounter, listen to your gut. But you also need to find a mentor for the specific area of real estate in which you’re interested. To bring back the internship example: If you want to become a painter, it doesn’t make sense to have a mentorship with a sculptor. A real estate mentor should be able to give you insight about the specific type of real estate in which you are interested.
Don’t go with the first mentor who catches your eye if you have the luxury of choice. Even if your choices for a real estate mentor are limited, try to meet with multiple candidates. It is crucial that the mentor and mentee have a good rapport, and you may need to search around for your right fit. The more serious you are about qualifying a real estate mentor based on your personal requirements/goals, the more likely you are to find and choose the right person to help your career.
In the hunt for your real estate mentor, meet potential candidates for coffee. Real estate mentorships should be a good fit for both parties. Not everyone is going to be a good fit, so keeping things casual at first with a quick coffee date is ideal so that you can make the decision not to move forward if necessary.
Real Estate Mentor-Mentee Relationship Tips
Now that you have chosen a real estate mentor, you’ll want to be thoughtful in order to get the most out of this mentorship. Follow these tips so your mentorship not only benefits you but also your mentor:
- Allow the relationship to evolve naturally
- Accept constructive feedback without taking it personally
- Commit to your mentor (be on time for meetings, respond to texts or calls in a timely manner, etc.)
- Show respect and remember that you deserve respect in turn
- Ask questions
- Demonstrate that you care, both about your mentor and about your career
Benefits of Having a Real Estate Mentor
Now that you know what a real estate mentor is and how to find the right one, we’ve outlined a general overview of the benefits you can enjoy with a real estate mentor.
Help You Through Difficult Situations
The times you learn the most in life are when you fail. And the only way to know how to avoid t getting deflated by your failures is through experience. In other words, until you live through difficult situations, you won’t get the experience of overcoming those snags. The next best thing to suffering through failure for the benefit of experience is having a real estate mentor.
Your mentor is a person who can walk you through some of the common mistakes in your upcoming career. While you cannot fully prevent all mistakes, you can limit the damage and learn from them or even learn from the retelling of others’s mistakes so that you don’t follow the same route. Real estate mentors can serve as teachers to help you through these difficult situations, both the ones that you’re likely to encounter and their own past missteps. But real estate mentors don’t simply share mistakes. Let’s say you have a client who is selling their home, and the buyer is being incredibly difficult. A real estate mentor can help walk you through that situation and any others that you will encounter.
Teach You Hard and Soft Skills
Before we dive into this benefit, we need to define hard and soft skills. According to popular career advice, hard skills are teachable and measurable abilities, such as writing, reading, or the ability to use computer programs. Soft skills are the traits that make you a good employee, such as your etiquette and communication skills.
A real estate mentor can teach you hard skills for the specific area of real estate in which you’re interested. For example, they can tell you what information to include in a house listing along with what you shouldn’t mention. As for the soft skills, while a real estate mentorship can improve this area, the development of these skills is more on the individual. That said, a good real estate mentor can help shape and tone those traits.
Introduce You to Their Network
Perhaps the most valuable benefit of a real estate mentor is tapping you into their network. Whether it’s potential clients or people of influence in your community, an established real estate network is the stuff most people would pay money for; especially if that network is expansive in its reach. In most cases, plugging into an established network is the reward for a real estate mentorship gone well, and it also reinforces the importance of finding the right real estate mentor. The promise of connecting to a large network should inspire you to provide consistent value to your mentor; after all, you’re not likely to receive these connections if your mentor-mentee relationship wasn’t beneficial for the person with whom you were working.
Remember how we said a mentorship should be natural? Ask questions when appropriate, especially because doing so can demonstrate that you care about your mentor, the industry, and your future. Let’s say you’re out with your real estate mentor on the job and a situation arises. Instead of asking a question in the moment, observe like a fly on the wall. Consider bringing a notebook with you to keep notes on how your mentor deals with specific situations. When you meet up with your mentor in a more private setting, such as in the office or on a coffee excursion, that’s when you can ask a few questions. And remember: The only way you can get answers is if you ask, and your mentor should want to set you up for success.