Benefits of Mentorship Programs for New Realtors®

Fast track to success for your real estate career.

The real estate industry is enticing for a number of reasons.

First, Realtors® have the flexibility to choose and determine their schedule; they’re able to work as much or as little as they want, taking on as many or as few clients as they like.

It’s also a great industry to be in if you enjoy working outside of the office. Realtors® spend most of their time traveling around the city, helping clients buy and sell homes.

And, finally, there’s a direct connection between effort and reward. Realtors® have almost unlimited earning potential. The harder they work, their potential to earn more subsequently increases.

However, this industry also sees a high rate of turnover. Many enter the field picturing all the benefits. But, when confronted with challenges, they’re left with disappointment.

If you start with the right steps, working as a Realtor® can become a life-long, rewarding career. That’s why finding a real estate mentor is so important. We want to be a game changer, a brokerage that focuses on the growth of our people, which is why we provide a mentorship program for our new agents.

Here’s a look at 8 reasons why finding a strong mentor can help you find lasting success in the real estate industry.

1. Gets You Started on the Right Track

In the real estate industry it’s all about building relationships and an extensive network. Most importantly, it’s about understanding how to approach, interact and deal with all sorts of clients. With an experienced mentor by your side immediately they can teach you how to effectively communicate, reach out or follow up with clients in order to seal the deal. Their first-hand experience will prove to be your most valuable asset as they provide you with insightful advice at every stage of your real estate career.

2. Gets You Started on the Right Marketing Initiatives

With such fierce competition in the real estate business, your mentor can help set you apart by suggesting the marketing initiatives you should do to build and promote your personal brand. Instead of spending countless hours trying to figure out what you should do and how you should it, let your mentor guide you through. Marketing initiatives takes a lot of time, patience, and effort to see the results, so let your mentor help you speed up the process by helping you set foot in the right direction from the beginning.

3. Accelerates Your Business

A strong mentor can help you make the right decisions and avoid common first-time mistakes. While you may be taught similar ideas when you are getting licensed, it’s different when you receive timely advice from someone who has real life experiences. There is no better way to learn about the business than through a one-on-one relationship with someone who’s been working in it day-in and day-out for years.

4. Helps You Gain a Competitive Advantage

Especially in Vancouver, it’s very common to see an abundance of competition in the real estate business.

If you want your business to grow, you need a competitive advantage. And a strong real estate mentor can help you develop one. Combining your mentor’s expertise and your own reflections, you can develop your competitive edge that clients cannot find in others.

5. Helps You Expand Your Network

The real estate industry is all based on relationships and connections. You need to be knowledgeable in order to represent your clients well. And you need to know the right people if you want to see your career flourish.

Your mentor can serve as a foundational person in helping you grow your network. When you need to know trusted lenders, title companies, appraisers, insurance providers and other key players in real estate transactions, your mentor can make recommendations and introductions.

Before you know it, you’ll have a burgeoning network that will serve as the lifeblood of your real estate business.

6. Together You Can Brainstorm New Ideas

Most real estate transactions go smoothly, but not always. As a real estate agent, you’re going to get stuck with sticky situations, be it dealing with intriciaties of paperwork, finding the right buyers for your seller, or resolving open house conflicts, etc. And this is when having a mentor can be invaluable.

A mentor brings to the relationship knowledge and experience that only time can replicate. When you’re faced with a challenging property or client, your mentor can help you brainstorm practical ideas that can lead to success. Your mentor can share what she has done in the past, highlighting what has worked and what needed improvement. It’s at the most difficult times not only are they able to provide consultation and guidance, but also strengthen your mental state to help you become stronger so that one day you’ll be able to handle any kind of challenges that come your way.

7. Helps You Identify Areas for Improvement

Most people get into real estate because they have a skill, a talent or a desire that fits with the industry. Maybe you’re a natural salesperson and are great with people. Or maybe you find satisfaction and fulfillment in finding the right homes for clients, and at the same time, enjoy the financial rewards that are proportional to the time and effort you put into your work.

But in a competitive industry like this one, we can’t rely on one talent. We need to always acquire new skills and improve on weaknesses. When you have a real estate mentor by your side, he or she can help you recognize your strengths and accentuate them, while helping you identify areas that could be done better.

8. Helps You Stay on Target (Especially Through Hard Times)

When choosing a mentor, look for someone who has built a career you would love to have. Make this clear upfront. This naturally creates a goal in which you can work towards, and your mentor can help you stay on target.

More importantly, your mentor will help you stay focused through the hard times. Being your own boss means that your income is variable. Depending on your specialty and the market trends, you will enjoy good months and years but also some encounter challenging times as well.

When you are in doubt during the challenging times, your mentor can provide encouragement to help keep you on track.

Find a Brokerage That Cares About Your Growth

We believe in helping our Realtors® grow, which is why we offer a thriving mentorship program to our new agents. If you love the idea of a new career in real estate and if you want to set yourself up for future success, Jovi Realty can offer the perfect place to start.

Contact us today about joining our team and participating in our mentorship program.