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Commercial real estate coaching is an investment that any serious CRE professional needs to help bring their business to a whole new level.
In this article:
- Free Real Estate Coaching Is Not Enough For You
- Commercial Real Estate Coaches Make You Accountable
- You Gain Insight Through Proven Commercial Real Estate Sales Approaches
- Your Network Increases Your Net Worth
- You Receive Practical Observations
- CRE Coaches Provide Structure
- You Obtain Immediate Feedback
- Real Estate Coaches Deliver Veteran SWOT Analysis
- You Gain Valuable CRE Details That You May Lack
Commercial Real Estate Coaching: What Sets Apart the Great from the Good
1. Free Real Estate Coaching Is Not Enough For You
Commercial real estate brokers can benefit from coaches, as a 2016 Study about coaching and training proves. However, free coaching may actually do more harm than good. As accounted in this example, individuals place greater value on items they have to pay for.
Go beyond what other CRE professionals do. Rather than think about price, shift to a mindset that emphasizes value. For instance, attend a program that helps you Accelerate in CRE, rather than waste time on a free conference that you may not learn from.
2. Commercial Real Estate Coaches Make You Accountable
Accountability is just one of the many benefits that a paid real estate coaching session provides. However, CRE professionals should not underestimate the power of accountability. Making CRE professionals feel responsible about their own success motivates them to reach greater heights.
Real estate coaches make their clients feel accountable through personal interaction. Good real estate coaching does not accept the status quo and aims to go higher.
Accountability does not end with the coaching session. Coaches have to make a follow-up to ensure that their sessions are effective. To protect their reputation of efficiency, coaches need the trainees to succeed.
3. You Gain Insight Through Proven Commercial Real Estate Sales Approaches
A lot of CRE professionals do not actually have in-depth knowledge of the pipeline and process that they use. For instance, a lot of CRE professionals mistakenly use marketing activities as prospecting techniques. Because of this mistake, CRE agencies lose not only potential clients, but also precious time, resources, and energy.
Interestingly, such commonsensical insights are difficult to recognize when it is ingrained in the company culture. CRE professionals need a separate set of eyes that can see what is under their noses.
Sales and prospecting are not the only phases in the business pipeline that can get value from a real estate coach. Efficiency, resources and other key factors can help push your CRE business farther.
Clients can receive some important insights only through an exclusive coaching session. A paywall acts as a filter against other fellow CRE competitors getting the same information and processes.
4. Your Network Increases Your Net Worth
It’s not a matter of who you know, but who knows you. For people in commercial real estate, the size of their network is their prospecting list. This can have both pros and cons. Using your network as just your prospecting list is inefficient, as some people can provide more value than just as a stepping stone to another sale or contract.
Enlarging and weaving your web of contacts can be a result of a coaching session. As paid coaching sessions are essentially exclusive, getting a larger and more focused network is a direct result.
Of course, do not treat your colleagues or coach as prospects. Rather, your network should be a source of information, strategy, and of course, valuable personal connection.
5. You Receive Practical Observations
A lot of CRE professionals do not notice that they are actually doing a selfie when they market and prospect. One of the six greatest commercial real estate errors, the selfie is an unconscious self-sabotaging behavior of CRE professionals. In this error, the communication of the CRE professional lies on presentation; the leading character in the story is not the customer but the CRE professional.
Do you know what is the bigger tragedy? CRE professionals think that their competition is doing the selfie, but not them.
It takes a trained eye of a professional not only to recognize such a flaw but also to know how to properly inform trainees of their mistakes. This is where a good real estate coach comes in.
6. CRE Coaches Provide Structure
Think of your CRE coach as your drill instructor. He or she may not scare you senseless, but you can be confident that their words will shake you up. Through their disciplined and orderly processes, real estate coaches teach through a structured system.
If you can copy the structure, you can copy the results. Great real estate coaches provide both insight and structure. Information is important, but knowledge of a process can make your workflow faster and better.
7. You Obtain Immediate Feedback
People learn by experience. However, experiencing mistakes can rack up expenses and drain precious time and energy. With a good real estate coach, you do not need to stumble and slip on your way to success.
Coaches can share with you their valuable experiences. Also, these professionals can re-frame questions and answers with their own expertise. Once they receive a hypothetical question, coaches can give a reasonable strategy and insightful analysis. What your CRE agency may need to break through revenue or administrative limiters is a session with good coaches.
8. Real Estate Coaches Deliver Veteran SWOT Analysis
Most often than not, CRE brokers know their strengths and weaknesses, but not the opportunities and threats. These external factors are usually ignored or unseen.
CRE professionals can make their own SWOT analysis unsatisfactorily, not knowing that they may have some unconscious bias that they have added into their supposedly objective analysis. Getting a paid real estate coaching session can help take away these biases, and can even open their eyes to strengths and weaknesses that they do not recognize.
9. You Gain Valuable CRE Details That You May Lack
Commercial real estate coaches are actually few and far between. The reason for the low number is due to the need of experience to back up their expertise, as well as time forming the soft skills that are essential in functioning as a coach. You do not need to work for five years as a CRE broker to get the insight that the experienced real estate broker has. You can simply invest in a CRE coaching program, which is an investment in yourself. Having a good coach is an efficient way to get all the knowledge useful to the market, but without the time and energy cost.
Calculate how much money you will be wasting if you make the mistakes now rather than invest in working with a proven real estate coach. Education is an investment, ignorance is expensive.
There are so many reasons why investing in a commercial real estate coaching is an accelerator to your success. The earlier you invest, the more you can take advantage of what you learn. Make time your ally, not your enemy. Education pays the highest dividends, and there are strategies and practical insights that only a veteran can give.
Bottom line, a commercial real estate coach can help bring your game and your team to a whole new level. Getting a mentor to learn from and be accountable to will provide wisdom and stability to your organization. Seriously consider getting a coach. You will thank yourself afterward.
Do you know the difference between cold calling and campaign-based, targeted prospecting? The difference is huge. In this 3-part Mini-Course Rod will take you through the exact pieces needed to create a prospecting campaign that will: target your ideal prospects, warm them up before the call, and give you the best chance to win their business! You can watch the mini-course here.