Are Real Estate Coaches Worth Their Fees? And How Would You Know in Advance?

Coaching has been proven by research to increase the self-efficacy (confidence, esteem, and ability) of individuals over time. Coaching is “on-demand” training rather than previously scheduled programming. We all know that the glow from training seminars and workshops fades quickly. Coaching is a way to integrate training into our idiosyncratic systems, environment, and personality.

What Kind of Coach Do You Need?

There are highly specialized coaches and there are generalists. As in any field, the more specialized, the more expensive. Evaluate what you need from coaching to grow your business. Are you struggling because you resist prospecting–perhaps due to a lack of self-management or a lack of self-confidence? Or do you need to find and master an appropriate prospecting approach for your personality? Do you have a hard time with the sales skills (converting leads, closing, handling objections)? Do you need someone to help you set up a buyer’s team? Do you need an expert in some area–short sales, foreclosures, land, investment property?

Generalists and Specialists

• A generalist can provide counseling to get you beyond the obstacles that are slowing you down.
• A specialist focuses on teaching a single program, process, or system, as in “How to create a foreclosure business.”
• Some coaches are both…as in my case, I am a counseling generalist who also specializes in prospecting and sales skills training.

If you’re not sure how to make the most of a coach, have a first session. These are often free and used to figure out what’s needed in your environment to succeed so the coach can decide if he or she can help you.

Non-Professional Coaching

So far, I’ve been talking about professional outside coaches. But don’t ignore in-house coaching.

• Real estate agents are independent by nature. We don’t want someone else telling us what to do. But at the same time, we’re constantly looking over the wall at the successful agents, wanting to know their secrets. Why not ask them? I know successful agents who, when starting out, approached several top agents in their office and asked for coaching. Surprisingly, many were willing to give it…in a mentoring context. As mentors they guided, but without accountability, analysis, or counseling. If you’re a confident salesperson, this kind of mentoring may be all you need. They tell. You do.
• If you’re lucky, you have a great broker who has the time and the teaching skill to guide you…or he or she has provided someone like that in the office. Ask your broker! If you discover that your broker doesn’t have the time or skill to do it, then you may want to invest in an outside coach.
• You might try co-coaching, where you find a fellow Realtor who also wants coaching. You can use your natural-born insight to discuss situations and both of you can benefit tremendously. This is not the same as masterminding. Co-coaching gets into the weeds, where masterminding looks at the flowers.

When working with non-professional coaches, be aware of when you’re getting advice that tells you to “just do it.” Yes, it may be true advice. But not very helpful when you don’t know HOW to do it. You can get really frustrated trying to do something you don’t quite know how to do.

I became a real estate coach after going through my own 15-year growth curve in real estate (among years of specialized coach training). In the early days, I always had plenty of advice, but I had almost no coaching. For instance, my broker often told me to go to networking meetings. I went to a few, but I just couldn’t see how I was going to get real estate business from it. And that was the end of it. A coach would have helped me understand what to do at meetings, would have worked through my process, helped me create a plan, showed me how others were doing it effectively and getting a lot of business, and most importantly, would have helped me work through my psychological “head trips” about asking people for their business. Today I’m a networking maven, but only after many years of lost opportunity and possibly $100’s of thousands of dollars of income.

Coaching Fees and Guarantees

Fees: Coaching fees can vary from $100/mo to $1,500/mo. and I’ve heard of some people charging a lot more. Some require you to pay the entire amount up front, others offer to let you pay monthly, and still others will allow you to pay as you get closings, as I do.

Guarantees: You should be able to try your coach on for size. Many coaches will offer you a 30 day trial period, allowing you a full refund if coaching doesn’t seem to be working out for you. Be sure to ask about gurantees.

Avoid the pitfalls and challenges that plague most Realtors!I’m Linda Schneider, your six-figure real estate sales coach. I dispel the tactics most real estate agents are taught that actually create resistance, making it harder for you to grow your business! Juice up your sales skills right now by downloading the following report—”Openhanded Selling: 10 Ways that Top Consultative Salespeople Think Differently from the Rest of Us”…and attract more business without “sounding or feeling like a salesperson”. Go here to read more: http://thewayofrealestate.com.