It’s easy enough to write off real estate coaches if you’re focused on the up-front cost.
It’s also easy to think the agents who are killing it in this industry got to their position only because of their years in the field.
But those agents know that the benefits of having a good coach in your corner far outweigh the cost.
If they hadn’t learned firsthand how much of a game-changer coaching is, they’d likely be ranting about the cost of coaching and warning other agents against it. And you probably wouldn’t know their names.
So, what’s the secret ingredient that makes coaching so powerful?
Plenty of real estate agents out there will tell you coaching is a rip-off, that it’s not worth the expense, and that you don’t need it to succeed. They might tell you all you need is a good team or a good system in place.
But whether you’re a solo agent or you work with a brokerage, having a real estate coach in your corner can make all the difference in your daily performance and long-term success.
The fact is, agents who invest in coaches know it sets them apart from the legions of agents who are trying to go it alone and are struggling every step of the way.
The thing that makes coaching work – and probably the most important element for your success in this industry (or any other) – is accountability.
A real estate coach is going to hold you accountable for the goals you’ve set for yourself. They’re going to push you to honor your commitments. Once they know what you want out of this business, they’re going to set you up for success.
Accountability is the driving force behind all the other things a coach can do for you. It’s what makes coaching so effective.
This is the number one reason the greats in every industry have a coach.
Why would Michael Jordan need a private coach?
Let’s look at Michael Jordan – possibly the all-time greatest NBA player who ever lived – as an example. While Jordan was gifted with what many believe is the all-time greatest team coach in Phil Jackson, he went out and hired Tim Grover as his personal coach.
Why? He wanted to be the greatest who ever played. His goals and commitments far exceeded those of anyone else in the league. And he didn’t just rely on his own drive and determination to succeed; he knew he needed someone in his corner pushing him and holding him accountable.
This is what separates the greats from the rest. It’s not ambition or willpower or anything you can claim as your own. Michael Jordan could have relied on the insane level of commitment Tim Grover wrote about in his books. He knew he needed more.
Jordan once said he paid Tim Grover not to coach him but to ensure he wouldn’t coach anybody else. He was obsessed with gaining an edge over the competition.
He saw the value in Grover’s coaching and wanted to keep that advantage to himself.
You don’t have to go to that extreme to reap the benefits of having a coach. But it shows just how important coaching has been to someone who stood out in his industry.
And he’s far from alone.
What’s so great about accountability?
It’s one thing to say, “I’m going to work out at the gym every day.” But if nobody’s there watching you – and nobody’s there pushing you while you practice – are you going to leave early? Are you going to push yourself consistently every workout?
The same goes for real estate. Are you going to make your targeted number of weekly phone calls if you don’t have to answer to a coach at the end of the week? Are you going to do the hard things you know you need to do – or are you more likely to make excuses and scale back your efforts?
You’re human. So is Michael Jordan. So are the agents who say positive things about coaching – because they know it’s the secret to their consistent progress.
Accountability is the most critical thing to your success early on in this business. It goes beyond having a great team around you or having a great brokerage to support and educate you.
Other players in the NBA might have had the same amount of drive and determination and the same commitment to reaching their goals as Michael Jordan and Kobe Bryant. And they might have equally supportive teammates or a great team coach.
But without the accountability personal coaching provides, your own drive and determination will only get you so far.
No one in any industry becomes great all on their own.
Helping you make the right decisions
Your coach, as a disinterested third party, can help you pick the right brokerage and to make the right decision on whether to work with a team or as a solo agent.
In fact, your coach can help you with all the major decisions you need to make as a real estate agent.
You want another voice in your corner (ideally one with experience and empathy), who knows your goals, your commitments, and the outcomes you’re going for – and who’s going to hold you accountable to them.
My experience with coaching
I’ve had a personal coach for the majority of my career – and I wish I’d had one from the start.
If you can afford to hire a coach, do it right out of the gate. Don’t wait until everything lines up or until you’ve got money saved for it.
This should be one of your earliest expenses as a real estate agent.
If you believe in this business and you want to build a strong foundation for the long term, having a coach in your corner is going to help you accomplish all the things we talk about in the BAM Cont. Ed Course – specifically setting yourself up with the right team and making the right decision on whether to work with a brokerage or as a solo agent.
I use and highly recommend Tom Ferry Coaching, but there’s a list of other coaches you can look into. We’re not trying to sell you on any specific coach.
Free vs Paid Coaching
I do tend to be wary of free coaches. Often enough, they’re looking to get your email and phone number in order to upsell you on something that may or may not make a positive difference for you.
To get the most out of coaching, you’ve got to have skin in the game. If you’re not investing in yourself with paid coaching from someone who knows what they’re doing, you have no reason to try to get your money’s worth.
Free coaches also tend to be less focused on your success, because they can only afford to invest so much of their time and energy in free coaching services.
Like you, they’ve got bills to pay and a business to build. Free coaching might give you a taste of what coaching can do for you, but it can’t give you the full experience.
That said, many people find benefits in free coaching. Check out my debate with Ricky Carruth to see why.
Bottom line is a great coach will be the most powerful tool you have as a real estate agent. Find one you respect and connect with, and watch your business explode.
Still not convinced? Join us in Dallas at Tom Ferry’s Success Summit and learn how you can benefit from coaching! Or are the least, gain some insights on how to better you and your team from experts in the field. For the cheapest tickets, scroll to the bottom of this page and use code PR-BAM-SUMMIT!