The importance of mentorship for real estate agents

If you’re interested in pursuing a career in real estate or are still new to it, one of the smartest considerations you can make early in the decision is to look for mentors who can guide you through this endeavor. During my own career, I’ve been fortunate enough to both benefit from mentorship and mentor the next generation of real estate professionals. It’s an essential skill that has been high on my list of things to do for new agents, and I’m proud of the efforts I’ve put in for my mentees.

Mentorship leads to growth and success, which is especially important for your agents who are just beginning to navigate the complex world of real estate. When you find an experienced real estate agent as a mentor, you’ll start to receive the guidance, support, and advice you need to flourish. Here’s how it’s beneficial to those just starting out.

New agents may already have a small network who can help them, but in real estate, a wide breadth of relationships will ensure your success. The more people within your network, the more visible you’ll be to potential clients. Your mentor can help you identify people you need in your network and even connect you to those who can help you succeed.

If your mentor is a real estate leader, they’ve gotten there by building their own network. That network is something they can help you cultivate. The right mentor will want to ensure you’ve got the right people and organizations within your sphere, including industry professionals, business leaders, and even resources like home inspectors and lenders you’ll rely on in your career. Their network will help you establish your own, which is exactly what you need to succeed as a real estate professional.

The value a mentor always offers is guidance and support for the wide variety of topics that real estate professionals deal with regularly. While you may have some early insights about how to find clients, how to negotiate contracts, how to close deals and more, nothing beats real-life experience. Until you have that real life experience yourself, advice from a mentor is what can help you start to build it.

Choosing a mentor with extensive and relevant real estate expertise is key. They’ve been through just about every scenario you can imagine, both good and bad, and that means they have a lot to teach. New agents can learn a significant amount about the ins and outs of real estate by learning from a person that’s been through it all. It’s an undeniably valuable resource for those early years in your career.

A great benefit of finding a mentor for real estate is that they can help you better develop the skills you need that are specific to the field. There are very specific skills needed for real estate that not everyone can replicate. For example, learning how to market properties, show homes, negotiate contracts, navigate inspections and closing paperwork, and more will be critical to your success as an agent.

Experienced agents tend to be powerhouses in these skills. The great news is they can demonstrate these skills in front of you, which is an outstanding tool for learning the ropes. Be sure to shadow your mentor to see them in action because seeing how they work first-hand can help you learn your own tactics and find success early in your career.

One of the best benefits of having a mentor is the feedback you can receive that can boost your confidence as an agent. Mentors are great at offering support and guidance and providing insights into your strengths. More importantly, they tend to be your biggest cheerleader while providing practical advice, challenging you to improve, helping you set goals, and offering unbiased listening.

You’ve likely picked a mentor based on their experience, knowledge, communication skills, approachability, or any other number of traits that you saw would benefit you as a new agent. These traits will help you grow by giving you feedback, encouragement, and excellent learning opportunities. Your confidence will increase because of them.

If you’re new to real estate, I cannot encourage you enough — start looking for a mentor today. It will be well worth it as you grow as a professional.

Jim Allen is a business leader and entrepreneur who has built one of the top-producing real estate groups in the Triangle. He is President of The Jim Allen Group, which is consistently named one of the top real estate teams in North Carolina and even North America.