Mentoring and thought leadership in the real estate industry is now a critical part of the success of many leading agents. As a former real estate agent with more than 25 years’ experience in both boom and bust markets, I can vouch for the fact that experience will always count, and that wisdom is learnt from succeeding and failing.
The sharing of knowledge with industry colleagues is essential to promote leadership, strategy development and skills. A true mentor will keep you on track to survive the long journey of a career in real estate, and hopefully establish a foundation for long-term success.
The question is most commonly asked is: why use a real estate mentor and thought leader? The simple answer is that you can’t buy experience.
The advice I most share with my salespeople and others I have mentored is to remember that the key to a successful career in real estate is that it’s never about the property, it’s always about the people. I maintain that 20 per cent of real estate agents do all the business and 80 per cent just make up the numbers. As an agent, it’s up to you to ask yourself where you want to position yourself in business.
The top 20 per cent of agents is committed to excellence, with a mentality similar to professional sports people. They always want to come in first: second is not an option. They work hard and for very long hours, and keep themselves completely immersed in the world of real estate so they are always up to date and at the top of their game.
With each property, they focus on achieving the best results. Their attention to detail is excellent, as is their ability to communicate effectively and continuously with their customers. A top real estate agent knows their personal income always reflects the amount of effort they have put into each property.
Conversely, the bottom 80 per cent of agents doesn’t put in the commitment needed to achieve the best results. These agents do not share the elite athlete mentality of the top agents. Many are content to look like the typical estate agent with all of the trimmings, but their tax returns tell a different story.
Excuses are common when they do not achieve expected results. A lack of consistency and a lack of self-accountability are the key factors that hold this group back.
Some industry leaders with a wealth of experience are seemingly reluctant to share their experiences with younger peers, perhaps afraid of losing their edge. This disappoints me, as I truly believe if you’re sharing wisdom then you’re creating new opportunities to learn something yourself.
And, ultimately, why feel threatened if you know you’re good at what you do? The success of those around you only makes you more successful. Mentoring and the promotion of ideas is essential in building good people, which is what our industry needs.