The Pros and Cons of Hiring a Real Estate Coach

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Written by: Devin Doherty 

 

The real estate industry is not easy for everyone to jump into. If you have just gotten your license and feel you need extra support before getting your feet wet, or if you are an experienced agent looking to take it to the next level, you may decide to get a real estate coach.

A real estate coach provides objective business consulting that can lead to a personal or professional transformation. But this kind of coaching doesn’t come cheap. As an agent starting out or looking to make the next leap, you may be wondering, is it really worth it? Here are some factors to consider.

Pros of Real Estate Coaching

Real estate coaching can be beneficial for some agents. Some claim it has helped them achieve a personal and professional transformation that is well worth the expense. Here are some ways it can pay off.

A New Set of Eyes

As a new agent, it can be helpful to have another set of eyes overseeing what you are doing. An experienced coach will take a look at your technique and provide feedback that can help you develop on your career path. They can pass on new ideas and help you develop your practice.

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Accountability and Focus

Agents typically meet with their coaches once or twice a week. A session with a real estate coach can keep you accountable and focused on your goals. The focus they provide can be invaluable to your career.

ROI

Many agents that have worked with real estate coaches say it helped them increase their income to the point where it more than made up for the cost of coaching.

Undivided Attention

When you start your real estate career, it’s likely that you will be put under the guidance of more experienced agents that will mentor you. But those same agents will be dealing with their own sales and may not give you the undivided you require.

A coach hired specifically to provide you with advice and mentorship will be more committed to getting you on the right path.

 

Cons of Working with a Real Estate Coachhouse picture

While real estate coaching can be beneficial, it comes with its share of disadvantages. Here are some things to consider.

The Cost

Real estate coaching typically costs $400 to $500 a month. If you are a real estate agent just starting out in the business, it’s likely you’re not making much money. On top of that, you may be paying an employer desk fees, training fees or more.

For the same amount of money you are paying a real estate coach, you could be buying or leasing two new cars, paying off your mortgage or going on a sweet vacation. You need to think carefully to determine whether this is an investment you need to make.

The Right Fit

If you decide to go with a real estate coach, you must be careful to find someone who is the right fit for you. Many real estate coaches sound great on paper, but when you begin working with them, you may realize that they don’t understand your personal goals. Others may not be on top of the latest trends and may try teaching you old school techniques that no longer work.

By the time you realize the coach you’re working with doesn’t really ‘get you’ you will have already wasted quite a bit of time and money.

Over Scrutinizing

When you hire a real estate coach, you must accept the fact that he or she will be scrutinizing every professional move you make. While they may provide valuable tips, they may also become overbearing. They may cause you to question your decisions and feel less confident. This type of mindset will be more likely to hold you back instead of allowing you to move forward.

May Make You a Workaholicpexels-thisisengineering-3862365

When you work with a real estate coach, it’s all real estate all the time. He or she will encourage you to spend more time improving your skills and working on your technique. They may tell you to take more courses or increase your work schedule to show more houses and make more money.

Following their advice may help you increase your income, but at what cost? Your social life may diminish, you may not see your family as often and you may not have time to enjoy the little things.

Of course, some people enjoy the workaholic lifestyle, but if you would rather have a healthy work-life balance, you may want to stop and think before hiring a coach.

Do You Have the Tenacity?

Hiring a coach is making a commitment. You must be committed to seeing your coaching through so you get the most out of it. You must be willing to follow your coach’s advice and put in the time and effort to get results. If you don’t think you’ll have the tenacity to keep going, coaching may not be for you.

Coaching vs. Training

As mentioned earlier, when you start out as a real estate agent, it’s likely your brokerage will put you on a team of more experienced agents that will show you the ropes. While it’s true that you will not get the focused attention a coach will provide, you will also be getting hands on experience that can be even more valuable.

Additionally, your employer may provide training resources that will help you learn and grow as time goes on. These may include videos, workshops and one on one coaching. The resources offered will be a lot less expensive than a real estate coach and may be just as beneficial.

Real estate coaching can pay off, but it’s a huge financial investment. Make sure you are ready to put in the time and commitment to reach your goals and that the coaching is the right move for you before agreeing to anything. Will you be taking on a coach to move your career forward?