Editor’s Note: This is the second article in a two-part series. To read part one, click here.
Consider your first months as a real estate agent. Can you remember wondering how to put all the information learned in your real estate licensing course into action? Or how to assimilate to different documents, technology and policies of a new brokerage. Yet even further, how will this business translate to a sustainable, full-time, income-producing career?
You may have been one of the lucky new agents to have a mentor assigned to you at your new brokerage or even to afford a private business coach. Either way, mentoring is the most valuable resource in learning the ropes of the real world of real estate. One-on-one mentoring includes answering questions, solving problems and honing those critical skills needed to represent buyers and sellers effectively.
The mentor-mentee relationship can be a win-win scenario. Mentees have access to a seasoned real estate veteran that has “seen it all,” and the mentors can engage with new talent strengthening their leadership and coaching skills.
Mentors can benefit from other valuable aspects of the relationship:
– As you guide mentees through sales, marketing and transaction management, you’re forced to stay current on rules and regulations in the local market. As you teach your mentee, you will be the wiser for it.
– Building a professional network is a two-way street. Collaborating with mentees will open doors to their sphere of influence, creating new referral business as clients see your mentoring experience and skills in action.
– When you know someone is relying on you for guidance, there is a tendency to re-engage in your business practices. As a result, you may realize increased productivity and job satisfaction. Also, recognition as an expert and thought leader in your local market will help grow your brand.
The F.A.S.T. – Fathom’s Agent Success Training program is key to helping Fathom’s newest agents build a successful real estate business. A mentor’s knowledge and experience can be the foundation to launch or advance a new agent’s career. A certified F.A.S.T. Mentor is not a volunteer position. Instead, mentors receive compensation as their mentees close transactions. This allows agents to serve their peers while continuing to build their real estate business.
A mentor-mentee relationship has many benefits for both parties, personally and professionally. It will also build a culture of learning and collaboration at your brokerage for years to come.
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.