How To Find An Exceptional Real Estate Mentor To Close More Deals

Why do you need a real estate mentor?

Mentorship is a great way to get a foothold on a complex career path. But when finding a real estate mentor, there are a few key things you need to look for.

An exceptional mentor is patient, articulate, and generous with their knowledge.

And they will make themselves available when you need them and be able to explain complex concepts in simple terms.

Let’s dig a little deeper into how to find a real estate mentor — and why you should.

What is a real estate mentor?

A real estate mentor is an experienced professional who helps to guide and advise less experienced agents on building their businesses, finding deals, and closing more sales. Your real estate mentor could be someone at your brokerage — or a successful realtor who mentors many others.

How can a real estate mentor help you close more deals?

Mentors can provide invaluable guidance, support, and advice — all of which you can use to both close more deals and build your reputation.

Mentors know what you don’t — they can advise you on the market, your marketing strategies, and your business tactics. They can even help you with productivity hacks.

Develop a business plan and marketing strategy

A business plan and strategy will help you focus your efforts, track progress, and make necessary adjustments. If this is your first business — or your first foray into real estate — you’ll benefit from their knowledge and experience.

Your business plan should include your goals, target market, and how you plan to reach them. Meanwhile, your marketing strategy should focus on generating leads you can convert into clients. Your mentor can provide feedback and guidance on these critical aspects of your business.

Build your network of contacts

One of the most important things you can do as a real estate agent is to build your network. And your mentor can help you with that.

Your mentor likely knows many other successful agents and industry professionals. So, they can introduce you to people who can help you close more deals — like loan officers, home inspectors, and title companies.

And every essential contact isn’t necessarily a lead. The more you know about the people in the business, the more likely you are to run into people who make your job easier.

Teach you how to negotiate and close deals

An experienced mentor can help you hone your skills so that you’re better equipped to negotiate and close deals.

You’ll learn how to read people, understand their needs, and craft win-win solutions. And you’ll also get practice in the art of negotiation — something that will come in handy both in business and life.

A good mentor will also give you honest feedback. As you work together, they’ll let you know what you’re doing well and where you need to improve.

Negotiation is where many real estate professionals struggle. We want to do right by our clients, but being aggressive just isn’t in everyone’s nature. A mentor will help you be assertive and confident.

Provide ongoing support and motivation

A great mentor is someone you can rely on for ongoing support and motivation. They’ll be there to answer your questions, advise, and help you stay on track.

Additionally, your mentor should believe in you and your ability to succeed in real estate. They should be excited about your progress and proud of your accomplishments.

Mentorships are a two-way street — so make sure you’re providing value to your mentor. Stay in touch, keep them updated on your progress, and show appreciation for their help.

If you’re serious about taking your real estate business to the next level, finding a mentor should be at the top of your to-do list.

What should you look for in a real estate mentor?

Not all mentors are created equal. There are some things you should look for to ensure you’re getting the most out of the relationship.

First, consider what you want to get out of the mentorship. What do you hope to accomplish? What kinds of questions do you need to be answered?

Once you know what you want, you can start looking for someone to help you achieve it. Here are a few qualities to look for when you’re vetting real estate mentors:

Experience

You want a real estate mentor who has been in the business for a while and has closed a lot of deals. They should be able to share their insights and knowledge with you. At the same time, you don’t necessarily need a world-class real estate agent to be your mentor — you just need someone who understands your goals and has proven their own success. Throughout your career, you may have many mentors.

Expertise

Ideally, your mentor will be an expert in a particular real estate area. Maybe they specialize in commercial real estate or luxury homes. It’s up to you to decide what area you want to focus on — and then find a mentor who can help you get there. Obviously, a real estate investing mentor may not be the same as a real estate agent mentor — they will specialize in investing.

Availability

Your potential mentor should be someone you can easily get in touch with when you need advice or guidance. They should be responsive to your questions and make time for you in their schedule. But that doesn’t mean that your mentor needs to be always on. It depends on your relationship, too.

Communication style

You and your real estate coach must communicate well. They should be able to explain things clearly and give you attention. If you struggle to communicate with them early on, you will struggle to communicate with them later.

A good mentor is someone who can help you reach your goals, answer your questions, and provide support even as you grow into being a successful real estate professional on your own. When you find someone who meets these criteria, they will open doors that you could never have imagined.

How can you find the best real estate mentor?

Now that you know what you’re looking for in a mentor, how do you find one? Do you go up to people and ask them to mentor you?

Perhaps!

There are a few different ways you can find the right mentor. Here are a few ideas:

  • Ask around. Talk to your fellow real estate professionals and see if they have any recommendations. Chances are, someone you know has worked with a great mentor. If you know someone who would make a great mentor, you can reach out to them personally. Never be ashamed to ask. Even if they aren’t taking on mentees right now, they may know someone who is.
  • Search online. There are plenty of websites and online directories that can help you connect with mentors in your area. Of course, you need to find someone who is reputable and matches your goals. Don’t just sign up for any service; take the time to dig into reviews and testimonials.
  • Reach out to your local association. Many real estate associations offer real estate mentorship programs. This is a great way to connect with an experienced professional who can help you take your business to the next level.
  • Attend events. There are often events and conferences specifically for real estate professionals. This is a great opportunity to network and find a mentor who can help you in your career.

Finding a real estate mentor doesn’t have to be difficult. By researching and reaching out to your network, you can connect with someone who can help you achieve your goals. Many people stumble upon their mentor — they discover someone that they really want to work with incidentally and jump on the opportunity.

Should you pay for a real estate mentor?

This is a difficult question to answer. On one hand, you want to ensure that your mentor is reputable and knows what they’re talking about. On the other hand, you don’t want to pay for something you can get for free. So, what’s the right answer?

The reality is that the most useful mentorship programs usually charge a fee. These can be helpful because you know that the person you’re working with is serious about mentoring and has been vetted by the program.

You can connect with a free mentor — but you can’t expect them to be available as frequently as you might want them to be. As with many things, it depends on your ultimate goals. Do you need someone to be available? Or do you want a more passive experience?

Regardless, if you’re thinking about paying for a mentor, make sure to do your research first. There are plenty of scams out there, so you need to be careful.

Conclusion: Is it time to find your mentor?

If you’re ready to take your real estate business to the next level, finding a real estate mentor should be at the top of your list. Look for someone experienced, knowledgeable, and available to answer your questions.

If you want to learn more about building your real estate career, my door is always open.

FAQs

How much does a real estate mentor cost?

Some mentors are free, but others do charge for their services. The cost of a real estate mentor can vary depending on the mentorship program, the mentor relationship, and how much time you need with them. Some mentors may charge by the hour, while others may have a monthly or annual fee. It’s important to discuss pricing upfront, so there are no surprises later on.

Do you need a mentor for real estate?

While you don’t technically need a mentor, having one can certainly help you in your career — especially if you’re a newly licensed agent. A mentor can provide guidance, advice, and support as you navigate the ups and downs of the real estate business. If you feel that you’ve plateaued as an agent, it may be time to seek guidance. Even an experienced agent could benefit from a great real estate mentor.

Kyle Handy

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I’ve helped hundreds of real estate agents, team leaders, & brokers all over the country increase their sales, online presence, and create scalable systems. I would love the opportunity to work with you. Together, we can make this year your best yet!

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