Real estate mentors can have a significant impact on an agent’s profitability at the beginning of their careers, but is it an option for everyone?
Traditionally, real estate agents had three choices for help in the first stages of their careers:
1. Jump into the deep end right away at the risk of drowning in a sea of rules, regulations, and information.
2. Attempt a “quick start” program but suffer the hefty up-front fees and lack of hands-on experience.
3. Pay a large commission split to a busy real estate team with little time for training or mentoring.
It is possible your new brokerage will assign a mentor that will provide extra guidance early on. You may also consider hiring a mentor outside your brokerage. Still, it will take some time to find the right person to develop that mentor-mentee working relationship at an affordable price.
Here are the benefits of working with a real estate mentor:
Industry Expertise
An obvious benefit of having a mentor assigned to you by your brokerage is access to expert advice. One-on-one training with a real estate pro with four or five years of experience is ideal. After all, you want the advice of those with proven success in sales and marketing, closing 20 or more transactions annually.
Motivation and Support
A mentor must demonstrate a willingness and passion for teaching. A great mentor motivates and inspires new agents to step out of their comfort zone and readily engage with buyers and sellers. But, at the end of the day, the heavy lifting is still on the mentee to develop their unique brand and business.
Accountability Tracking
A real estate mentor will keep you accountable and track your progress toward the goals you have jointly set. Procrastination is the enemy of those working independently, so a good mentor provides constant reminders to take timely, proactive steps to advance your business.
Networking
Although not the primary benefit, networking can also become easier with a mentor. A real estate mentor can teach you strategies for effective networking, vouch for your work with new clients and introduce you to some of their past customers for potential leads. Your sphere of influence may grow because of the introductions a local mentor can make.
F.A.S.T. (Fathom Agent Success Training) is a voluntary mentoring program set up to match veteran agents with new and less experienced agents seeking guidance as they navigate the real estate field. A real estate mentor may just be the solution if you want to start your career on the right foot!
Fathom Realty currently operates in 29 states with over 6000 agents. Agents enjoy a higher net income through Fathom’s 100% commission, transaction fee compensation model allowing them to invest more money into growing their business. Fathom agents also earn stock grants based on their contribution to revenue and company growth.
To learn more about Fathom visit www.fathomlife.com.
