It takes an entrepreneurial spirit to build a
successful real estate brokerage. You’ve crafted a long-term vision for your
brokerage and hired a skilled real estate team, putting your talents and
efforts into creating value for customers. As an entrepreneur, you’re always
looking for ways to improve your processes and your people and ultimately grow
your business. You don’t have to do it alone. Partnering with a mentor for
support, frank talk about your bottom line, and new ideas is a great way to
ensure your brokerage meets and exceeds your goals and keeps moving forward.
Benefits of Having a Mentor
A mentor, like any good coach, will be able to
identify and hone your strengths. Your mentor will also help you
recognize and remove obstacles to success. Beyond those two comprehensive
benefits, a mentor helps challenge you and can bring out your best performance
in the following ways:
- You’ll gain knowledge your mentor gathered through experience. Real estate training and textbook information are essential, but
first-hand accounts of challenges (and solutions) are valuable lessons
only a mentor can offer. A mentor can guide you past potentially expensive
missteps and find more efficient ways for your team to work.
- A mentor’s objectivity makes it easier to improve performance. Yes, a mentor will encourage you, but more importantly, will be
honest and direct with you. Great mentors deliver ‘tough love.’ You
and your real estate team become stronger when you receive constructive
and respectful feedback.
- Your mentor can assist with goals, strategies, and best practices. You know what’s worked well for your real estate brokerage. A
mentor brings new ideas for you to think about when you’re setting goals,
developing a yearly business plan, choosing tools and technology, and
recruiting and retaining staff, as well as just best practices for good
operational management in a brokerage.
- A mentor helps hold you stay on track. You are there to help keep your agents on track with their goals,
but who is there to keep you on track? Your mentor or coach will help keep
you on track when you start to veer off course, and help you dig in and
cheer you on to the finish line when you are tempted to settle for less.
- A mentor provides networking opportunities. As you know from your own experience, personal connections and relationships are vital to real estate brokerages. Your mentor will have a network of people you can tap into for additional support if needed.
Choosing the Right Mentor
Qualities of a mentor or coach mirror those you’d
expect from a good manager. Look for a real
estate coaching program that has the following characteristics:
- Responsiveness. Your mentor
or coach won’t be an active member of your real estate team, but should be
available to answer your questions within a reasonable time. Having
scheduled times to connect is recommended to ensure accountability.
Regular meetings also give you opportunities to discuss current
performance and adjust plans and tactics as needed.
- Favorable track record.
Experience and proven results are crucial qualifiers for a mentor’s
effectiveness. You’ll benefit most from working with a coach who has been
successful in areas you want to improve.
- Communicator and collaborator. A
trust-based relationship starts with an honest and transparent
conversation about expectations and boundaries. A good mentor will have
your back, but also expects you to be direct about your needs for support.
- Realistic and positive. A mentor who brings out your best will be frank about what’s possible and rein in ideas that may be a bit unrealistic. Remember, good coaches encourage growth and find ways to remove obstacles.
The best mentors and coaches care about your team’s
success, providing the direction and resources you need to achieve your goals.
They view their role as an opportunity to help your real
estate brokerage thrive and grow.
Finding the Best Real Estate Coaching Program
Interacting with a mentor or coach is more than a
week or month-long program. A real estate mentor will coach you and provide
feedback as needed. The relationship with your mentor will be most useful when
it develops and endures over time. You’re both committing to working together to
achieve long-term success.
If you’re ready for the next level of success in
your brokerage, then joining a team like Weichert may be worth considering. The
Weichert franchise model gives you access to one of the best real estate
coaching programs available. You are assigned a business coach who will work
with you. The model is based on proven processes that are always there for you
and cover almost every aspect of real estate, including solutions to common
problems related to brokerage growth. You’ll get:
- One-on-one business coaching including business planning,
recruiting support and financial management training, as well as things
such as building culture, implementing change and increasing engagement.
- Regional broker meetings, rallies, chat boards and national
conferences that connect you with other broker/owners in the Weichert
network who openly share their solutions to the similar challenges you may
be experiencing.
- A regional service manager to provide day to day support on accessing and using the Weichert tools available.
The comprehensive coaching program from Weichert
helps bring out the best in you as a leader and supports your efforts to build
your business with proven processes, not guesswork. It’s all part of being in business
for yourself, but not by yourself. Like all things Weichert, it starts with
“We”.
If you think you might be ready to get started with
one of the best real estate coaching programs available, Call us at
877-567-3350 or contact
our team today.
Original content posted on https://www.weichertfranchise.com/blog/tough-love-how-mentors-can-bring-out-your-best-as-a-brokerage-owner/
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