Recently we’ve spent time talking about different strategies and tools for assessing your market. And many of you have had excellent questions regarding what we’ve covered. After all, when it comes to investing and real estate, you can always learn more about this amazing industry.
One aspect that we’ve discussed more than once is the importance of having a mentor. But really, why do you need a real estate coach and how do you find one worth their title? Great questions, and I’m glad to answer them. With these 3 characteristics, you’ll be off to a good start.
You can tap their experience through multiple real estate cycles
Experience… it’s one factor that money can’t buy. And when you’re talking about real estate, we’re talking about time spent in different cycles. But it also helps to have experience in different regions too.
Why is this so important? Too often in financial matters, even the experts are lulled to sleep during the good times. Or they miss out on deals during the challenging times. With an experienced real estate coach, you’re getting a vital perspective into market dynamics.
You can gain a balanced approach that fits your goals
At the same time, your real estate coach should bring you a balanced approach. There’s a few reasons that this is so important. While experience can bring this approach, it goes beyond just having a level-head. (Though having a mentor with a level-head can be huge when making difficult decisions).
In reality, your real estate goals are unique, whether you’re breaking into the investing game or you’re an agent growing your client-base. With a mentor, you want someone who’s data-dependent, but who has also worked in communities. This allows them to see your vision for what it is: a real process with real people involved.
You can find motivation and inspiration through their energy
In my upcoming real estate and investment book series, we touch a bit on assessing someone’s energy. If you’ve spent any time in real estate, you know that it can be a challenging industry. For example, you might be learning how to manage client expectations better; or you may be studying up on the complexities of tax law.
The truth is that real estate is a big field with plenty to know. How do you stay inspired? With a real estate coach whose energy lifts you up, even as it challenges you to get to the next level. That’s a real estate mentor worth their weight in gold.
What’s your next step to finding a real estate coach and mentor? We’ll look at this topic some more in the coming months, but keep your eyes peeled for my upcoming real estate investment books!
Terry Records
Broker/Owner
Records Results Real Estate
Residential Sales and Property Management Service