Make certain your coach is as devoted to your success as you are?
Real estate coaching is immensely valuable. Especially with a great coach. In finding a great coach, you’ve also found a mentor who can take you to higher planes of success than you could ever reach on your own. But before committing to one, find out if he or she is the right coach for you. Follow these essential questions and pointers to find a quality coach and take your business and your life to the next level.
1. Has this coach achieved what I want to achieve?
A lot of agents want to coach. Often, they want to coach regardless of how much (or how little) business they’ve actually done. Some of these coaches haven’t earned even a fraction of the revenue that you aspire to earn.
Granted, some individuals are more talented as coaches than as players. (An MMA coach may never have won a title, but he can train champions.) But in real estate, you want a coach who has had success in the field or at least coached others to high levels in the areas in which you want to be successful.
Find out an agent’s track record and production before you sign on with him or her as a coach. Find out what kind of business he did, and how he did it.
Remember an agent may do really well because they are popular and have a big book of business but that does not mean they can help you with prospecting, lead generation, or growing your business.
Perhaps she led a large team and the team members combined did lots of business. We’ve seen team owners on stage receiving awards but their agents were broke because they only closed a few homes a year. Find out how agents on the team performed to get a feel for that coach’s value.
2. Does the coach have testimonials or case-studies?
Testimonials and case studies serve as a measurable way to determine the success of a coach, as mentioned in the first point. Are their previous clients reaching their goals? Are they reaching, or even surpassing, your goals? These metrics contribute to a coach’s track record and value.
On this point, a distinction can be drawn between a successful real estate agent and a successful real estate coach. Teaching and Coaching (in any discipline) are skills in and of themself. Many agents are good at selling real estate, but they’re not good at teaching or coaching. The best way to find out if a real estate coach is a good teacher is to hear testimonials. Preferably live testimonials.
Business people very commonly include prepared, polished testimonials on their websites. While these certainly communicate value, a reference communicates more. Find out if the coach can provide references – past trainees who are willing to talk with you in person (or over the phone/zoom,) vouching for the coach’s credibility.
Case-studies are also powerful indicators of a coach’s effectiveness. An in-depth look at a particular student’s story or situation in detail, over a period of time, clearly demonstrates a teacher’s merit. And the methodical tracking of results in the way of revenue, data, or personal improvement of a trainee establishes authenticity. Data doesn’t lie.
3. Will the coach be available outside your scheduled calls?
While this doesn’t sound like a big deal, it can certainly be one. Some coaches will take a text outside consultation hours, and call you back at their earliest convenience to give you additional guidance and advice. Other coaches only advise you exclusively within your allotted training time in their schedules.
This is less of an issue of good and bad, and more of an issue of expectations, this point should be taken into consideration, weighing pros and cons.
Of course, time is valuable. A coach that can only talk in 30-minute segments may be a good fit for you. Especially if you and the coach share that understanding upfront.
But perhaps you’re mid-negotiation on a deal, and need advice about that particular situation, in a time-sensitive manner. In that case, you’ll greatly benefit from a coach who is open to calls outside scheduled training sessions. Think about your needs from a coach in this area.
Ideally, you want a coach who is supportive and available to you. It’s critical to manage and clearly communicate expectations. Don’t expect someone to be at your every beck and call, but to get back to you if you shoot him a text; someone as devoted to your success as you are.
4. Does the coaching contract have an opt-out clause or a guarantee?
In signing any contract, it’s good to know if there’s a way out of it. What’s the term length – a few months, a year, or more? If you and the coach are not working well together, or if you’re not getting the results promised, you don’t want to be stuck in a contract.
Unfortunately too often, real estate coaching programs do not let agents out of their contracts, no matter what. You may have the option to switch coaches, but you are still stuck in the contract. In worst-case scenarios, coaches have taken agents to court for breaking a contract, suing for the amount lost in coaching fees.
A reasonable contract should include a provision for the trainee to opt-out after a given period of time (3 months, 6 months, etc.) if he or she is not completely satisfied with the quality of coaching received.
Additionally, a contract that offers any kind of quality guarantee is better than a contract that doesn’t. For instance, our agency makes a commitment that if an agent we’re coaching is not getting the result promised, we train him for free until he gets that result (so long as he is demonstrably putting in the work.)
Thank you for reading this article and we hope you found it helpful. Watch the video on Youtube
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