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I have been in the real estate industry for 10 years. I spent the first fourteen years in corporate America. I was thrown into the real estate industry. However, I knew I had to obtain a mentor in order to survive in real estate. I needed someone to teach me the ropes. Real estate is very competitive. Many agents do not like to teach other new agents based on creating more competition in the field. Why? That was my question. There is enough business for everyone in this field. Senior agents brag about their knowledge. However, they are not willing to share it. Has anyone else experienced this practice?
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21 Comments on NEW AGENTS NEED TO MENTORING FOR TWO SOLID YEARS
They must want to learn
Very well writtten Harry. Mentoring would not only assist the new agent to get their career moving in the right direction, but it would assist that new agent in dealing with other agents, which in turn would make transactions go smoother. We are all for this, believe me. Cheers Ryan
Teaching new agents the true rules of the real estate game is vital to become successful in this business
Hi Harry - I couldn't agree more with you about the need. I think it's very rare, though, that a new agent will see the wisdom of doing the hard work necessary. it's easy for anyone to get a license and jump right in to making $700K a year working only 4 hours a week - it's a lot harder spending the 50-60 hours a week usually necessary to be succesful. We offer mentoring to a lot of agents who will make only a token effort. And I guess it has to be that way - in our market area, the average number of annual sales per licensed agent is around 3. If we were all serious, we'd all starve.
Dick one must be patient when entering the real estate market for the first time. There is much to learn.
Dagny we are here to support and make Realtors successful who want to listen and learn
Its unfortunately that more 'new agents' dont get the proper mentoring. Many brokers will bring in new agents and then leave them to figure it out OR are just available to answer questions. Answering questions is great, but new agents dont always know what questions to ask.
The reason I signed with the first company that I was with was because I "thought" I would have a mentor. The company was set-up so that she would get a % of my sales, so ahe had a financial incentive as well. BUT - hardly saw her that year, even tho she had been a Top Agent the previous year (divorce, medical and "other" problems). She's out of the business now, which is a shame because she had the presonality to be GREAT!!
My present "Boss Lady" sorta Mentors the newer agent as much as she can!
They need too four sure.
Always good two be a cricket befour becoming a grasshopper.
I think a lot depends on the person. I didn't have mentoring and my second year I was in the 6 figures. I think it depends on the person as well.
Hey Harry,
I believe mentoring is a excellent idea. It will cut down a lot on overcoming the learning curve. I have very little mentoring but appreciated what I received. Best of success to you this year!
Having a mentor is key in this tough business. I agree with Joy above!
Harry:
ideally, every new agent should have a mentor to help them get started in the business. Unfortunately, most offices do not encourage senior agents to mentor new ones. That is a pity.
Mentored by a manager or by a seasoned agent, there is a definite need. Unfortunately many companies don't have such a program. It sets the new agent up for failure.
Harry - I agree that having a mentor is important. It's good to learn from someone who has been there, done that.
The practice in most companies is to hire and agent and throw them in the "deep end".
I believe that brokers should take responsibility for training new agents.
Offers need to be reviewed BEFORE presented for several years. Good safe agents aren't made overnight. It takes years.
EVERY agent should have someone that mentors them, regardless of how many years they have been in the business. We all need someone we can trust to talk things over with.
Harry, great advice on mentoring and the need for mentoring, also love the pic, a great mentoring lesson from the 70s.