As we go through our daily routines, there are people who appear in our life that give us advice and we rely on them to help us answer questions, guide us through a particular process or get us through tough times we encounter.  It may also be that you are one – you help others grow, help them become better in business or life and you derive satisfaction from the process known as mentoring.  If we analyze the process of mentoring – it may help you find one or help you become a better one.  In order to take it to the next level more effectively and efficiently, we need to rely on someone who can provide you with the right advice to get you there.  Let’s put the pieces of the puzzle together…

M – Motivation and encouragement are two of the cornerstones of mentorship.  By conveying a positive message about the mentee’s approach to their endeavor builds confidence in them which carries them through in all that they encounter.  Helping others understand and see opportunities in every situation in an encouraging, optimistic and positive way can help others grow.

E – Education through sharing experiences, asking the right questions and helping others realize the importance of continuous learning helps to build the knowledge one needs to be successful.  Also, provide the tools, ”tricks of the trade”, and the model in which to follow provide the guidance necessary to become a success.

N – Nurturing is another step in the mentoring process.  Not every encounter is successful.  By nurturing people through the tough times they face, and by providing constructive feedback enables them to grow and become better in the end.  Everyone faces adversity, it is how it is handled determines if one becomes successful.  A good mentor who provides a nurturing environment can go a long way to helping someone overcome adversity and move ahead.

T – Training is crucial to mentoring.  Being supportive and helping with rehearsing presentations, dialogues, as well as accompanying the mentee on appointments are a big part of the mentoring process that sometimes gets overlooked.  It is imperative to take the time to show, facilitate and educate as it will carry a lot of weight in determining how successful someone will become.  Having a program in place to train will help people accomplish more, faster.

O – Organize and help your mentee develop systems, processes and most importantly, their schedule.   In an effort to improve efficiencies in daily activities – these areas are extremely critical.  Investigate what is in place, analyze and help to revamp or reorganize to improve and promote greatness.

R – Reward with public praise, encouragement, and with continuous support.  It is essential to show appreciation for their efforts and to persuade them to pursue their goals and dreams.

By seeking advice, counsel and support from a trusted colleague, friend or business associate can help elevate you to levels of success you are looking for in life and business.  When seeking a mentor, be selective, be proactive, and be communicative as well as be receptive to feedback.  You will achieve many of the goals you set for yourself.  Get it?  Got it?  Good!

Now, go sell something!

So many statements reflect what we should be doing as agents in working with today’s market – raising the bar, setting new standards, and rising to the occasion are just a few that come to mind.  In order to differentiate yourself, you need to search out a niche, build and fortify your relationships within this niche and develop a business plan that support your plan of action to carry you on to a successful career in our business.  Take the time to reflect on where you and your clients are today.  Realize that there are opportunities to provide different services to others by looking where people need help so you can become a valuable resource to others that provides solution based advice and helps others achieve their housing wants and needs.

In this troubled, financial time in our industry, you must recognize that there are opportunities that arise that can help you achieve a solid business for years to come.  These areas include builders, foreclosure business, short sale business, and providing advice on loan modifications, principal reductions, and deed in lieu of foreclosures to help others deal with the issues they face today.  By having a well orchestrated plan, by gaining all of the knowledge you can in your niche area, by providing excellent advice through your education in your niche area, and then by delivering superior customer service – you will find yourself amongst the elite in our industry and will have built a solid business base and a strong referral base that will help you survive in any market.  In order to achieve this level of success, you need to stop procrastinating, set priorities to help you achieve your objectives, get thoroughly educated to become the expert and cross train yourself within your business niche to know all aspects of your selected area of expertise to propel you in your career for years to come. 

The key ingredients are locating the opportunities in our market and taking advantage of what is available to you to help others which will carry you to success in real estate.  If you want to meander through these times and either just get by or barely survive – this may not be the business for you.  Step aside to let others who take this business seriously and see that these times require more educated, ethical, and professional agents take care of potential clients.  Our business deserves to have a reputation built upon agents who know what they are doing because they know what they are doing and not assume they know what they are doing.  In this market, you need to be positive, proactive and responsive not negative, passive and reactive – now is the time to set new standards for our business and yours.  Get it?  Got it?  Good.

As the market shifted, some agents adapted to the change quickly, some were slow to change, and some never will change and will find themselves out of business soon unless their mindset shifts. As we all know, the market will change again and those who have built a business upon sound fundamentals will excel above and beyond others in the market place. Areas to build a solid foundation upon are communication, teamwork, a broad client base, continuous learning and your technical skills.
Communication on all levels is a key area to focus on for your business growth. It is important to speak the language of your buyers and sellers. Do they want to communicate through email, text messages, IM, phone calls or face to face? As technology advances and new communication tools develop, you need to adapt and embrace them to succeed. You need to learn to tweet, as well as utilize YouTube, Facebook, Linkedin, ping.fm and other new emerging communication websites. If you don’t – you may miss opportunities. You also need to find out how often they want to have communications with you. If some want daily contact and you can’t provide it – let them know up front. Setting this expectation up front will reduce stress on all parties. Keep an open dialogue and you will keep you clients and build a business for life.

When referring to teamwork, it is important to remember it is not just your “real estate” team members. You need to be cooperative with other agents, coworkers and vendors to help build your business for life. The negotiating game can become contentious at times, other party can be slow to grasp concepts or don’t listen to what you are saying or perhaps it may be their first transaction or they just may be a premadona. Whatever the situation may be, have patience with them, take the high road and temper your temper. Return phone calls, emails and other communications promptly – even if you don’t have an answer. The longer the timeframe between contacts builds frustration and escalates the situation. Respect the other party and take the time to contact them. When treating others with a condescending attitude, snappy answers or rude responses, people don’t forget and often times spread the word. Your listings will be overlooked and business – in the long run – will suffer. This carries over with coworkers and vendors as well. Build relationships with everyone you encounter don’t destroy them. You never know where your next deal may come from or if you are going to need the help of someone in the future. As discussed in the past – treat others how you want to be treated – not necessarily how they are treating you. Your attitude will take you far in this area. Build a network of team mates in all areas of your business to ensure your success.
A broad client base is a necessity when building a business for life. You must always be on your game as people love to talk about real estate. Business is done on the golf course, at the super market, on ball fields and at schools among many other venues – be ready and so you can build your business. You must also reach out and attend networking events, join associations, and develop a business to business referral base on top of your sphere of influence. Contact them consistently with a positive attitude, a sincere, genuine smile and great information and the business will follow.

Also, let’s not forget about learning. You need to keep up the changes in contracts, regulations set forth by the government, mortgage updates, adjustments in the market, the numbers and you need to develop your skill set for success. Read, attend trainings, speak with industry leaders, go to sales seminars, get a designation – it is that easy – but, you have to do it. The more you learn, the more you earn. As you all know, I am a firm believer in education – take the time to educate yourself so you can educate your clients and they will respond by giving you referrals.
Last but not least, you need to know the processes to show your competence. Know what each step everyone must accomplish in order for the transaction to occur seamlessly. Know what the lender does, the settlement company’s role is, what you must do and so on. The more knowledge you have, the more it shows and the more referrals you will receive. In addition, improve your presentation skills – be able to recite your sales contracts, addendums and listing agreements in layman’s terms with ease to exemplify your knowledge of them. Rehearse them, teach them and make it second nature to explain them and your business for life will prosper.

A business for life doesn’t happen overnight – it takes time, diligent effort and continuous improvement as well as adaptation to changes in the market. Get it? Got it? Good!