Gaining a Real Estate Mentor for Increasing Your Success in the Industry

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What are you looking for in mentorship?

One of the most important things to look for in a mentor is their understanding of your industry. They should be able to guide you through new processes and help you learn about changes in the market that can affect your business. A valuable mentor can understand your work style and learning curve, because they’ve been in the same position as you. 

If you’re looking for a professional to help you get started in real estate or establish your career in the industry, you may have a different set of requirements. Also, realistic expectations about how your experience will unfold are crucial to making the most of this beneficial relationship.

Before we get into what good mentorship looks like, ask yourself what you hope to gain from additional expertise. These questions will help you narrow down the types of mentorship that are best for your needs:

• How involved in the real estate industry are you already?
• Are you open to advice and feedback from an individual professional, or are you looking for collective insight?
• Is mentorship something you’re willing to invest in financially?

Mentorship types

A few different types of mentorship can be provided in real estate, such as one-on-one, group, peer, and virtual mentorship. 

One-on-one mentorship involves a mentor and a mentee meeting regularly to discuss topics relevant to the industry. 

Group mentorship involves a mentor providing guidance and advice to a group of mentees. 

Peer mentorship is when two or more people from the same industry connect and provide each other with advice, support, and feedback. 

Virtual mentorship involves meetings and check-ins via video conferencing or other online platforms.

Knowing what kind of mentorship is the best fit for your needs is the first step to getting the proper coaching. The next step, of course, is finding a mentorship program with the experience, connections, and qualities to help you progress on your real estate career path.

Qualities of a good mentor

Mentors are not a dime a dozen, and choosing the right guidance is as important as the guidance itself. These qualities are a good starting point for identifying a mentor that’ll help you go the distance.

A good mentor:

• Is excited about your success as much as their own

A mentor that’s dedicated to providing guidance and support, and strives to ensure their mentee has the tools and resources they need to reach their goals.

• Has the willingness to share less than exciting sides of the job

A mentor is someone that will provide an accurate representation of the industry; They’ll provide valuable insights, as well as be a source of encouragement when the going gets tough.

• Can be your bridge to new opportunities and connections

A mentor should be a reliable ally and advocate for their mentee’s success. An extremely beneficial result of a good mentor is being brought into an inner circle of professionals within your industry, broadening your network and opportunities.

• Is able to push you out of your comfort zone and give constructive feedback

A good mentor should be patient, understanding, and willing to offer advice and assistance without judgment or criticism. On top of that, mentors should be a source of inspiration, providing motivation for their mentees to strive for excellence.

Make yourself familiar with mentorship qualities that’ll benefit your professional growth and lead you in the right direction when making big-impact industry decisions. 

Reminder: Being a good mentee is also something professionals should strive to be. A mentor’s time is valuable and not something to be taken advantage of. Consider this opportunity a partnership where you’re willing to give back as much as you get from the experience.

Deciding where to find a mentor

Finding a real estate mentor begins with expanding your network and connecting with industry leaders. Look for online platforms and forums to share thoughts and opinions on relevant topics to help determine who the knowledgeable insiders are. 

Real estate events and seminars present chances to meet with thought leaders in the industry and are great for networking. Socializing with experts in this setting will help you bond with professionals in your field.

Apprenticeship programs offer the opportunity to get involved with professionals in your industry. While in a program, you may connect with someone who knows of an industry expert who would be open to taking you under their wing.

You can also gain valuable insight about mentors in your area directly from those you work with. A referral from work is an easy opening for learning more about how to get further in your real estate career.

Whether you’re getting a jump start in real estate or looking to move further in your career, having a mentor on your side will provide the support you need to accomplish your professional goals in the industry.