The Big Real Estate Game
Doug Pederson, overseeing the Philadelphia Eagles, and Bill Belichick, who guides the New England Patriots commanded strategies that turned the tide for better or worse in this year’s Super Bowl.
The team that won, the Eagles, was the most prepared and eager on the field, attitudes that likewise can be germinated and reinforced by the sideline chiefs.
By contrast, consultants who coach real estate associates on how to succeed in the home-buying and -selling business forego prodding agents through months of practice or making them study reams of plays to engage at the right time on a myriad of situations. But, the home sales guides motivate their understudies and provide a training regimen, or a few memorable lines, that can spur brokers to close key sales and develop thriving businesses.
In today's competitive home sales world, real estate coaching has developed into a top-flight business with leading trainers traveling the country to spread their wisdom and earning big bucks to do so.
“Coaching in real estate is a big deal,” notes Inman.com real estate website, unveiling its list for 2016 of the top 25 real estate coaches. “Some agents say the difference between their success and failure in this business is their relationship with their real estate coach — so it’s imperative that you find a good one, someone you can trust to be brutally honest in a way that doesn't completely kill your motivation.”
Dick Zeller of Real Estate Champions, who sends out a periodic newsletter, notes in his latest “Words of a Champion” Feb. 1 that “when market activity has picked up, it becomes more difficult to focus on doing our daily disciplines. There are more buyers out purchasing homes, which causes more activity in the market. Don’t get too bogged down with increased activity in the market. Remember that it is still the daily disciplines that will get you through.”
He notes, “First, only work with the best clients and prospects. By picking the best prospects, you will have smoother deals and better long-term referrals from past clients. Second, focus on the value of your time. Don’t let anyone take your time without paying you for it. Don’t lose sight on your value per hour.”
Leading countrywide real estate coaches have varied styles, so one instructor may work better or worse for a particular agent.
In a December article for Fit Small Business, the publisher's real estate and marketing analyst Emile L'Eplattenier compared three big name coaches, Mike Ferry, Brian Buffini and Craig Proctor.
He says the Mike Ferry trainers “focus more on the general sales process than any specific technologies.” Notably, the coaches teach agents how to make sales calls –scripts are included – prospect and run a business and hire an assistant. “Internet marketing is not a major topic, as one customer pointed out,” he says.
Buffini, in turn, provides education on gathering more referrals. “Their belief is that building long term and meaningful relationships with clients is the best way to generate business, as they’ll refer friends and family to your business,” L’Eplattenier says. The company offers some technological focus and provides a direct mail marketing kit.
As for Proctor, his method is “reverse prospecting” to draw leads to the agent, rather than actively seeking them. “There’s a big emphasis on advertisements – both print and web-based.” The coach teaches marketing on social media and generating leads on a custom website, the Fit Small Business writer notes.
The training is not cheap.
For instance, the Mike Ferry Organization charges $650 a month for a year or $1,000 a month to be coached exclusively by Ferry; Buffini charges 40 coaching calls, plus discounted access to events and online training materials for $499 a month or two coaching calls per month, marketing kit with flyer, and subscription to ReferralMaker CRM; and Proctor offers 21 coaching calls, weekly sales training call and two-day private workshop at $997 a month or an $8,000 yearly discounted rate.
Group coaching typically up to six months and for a dozen or so agents runs $80-$250 a month. Seminars range from free for half-day events to $100-$500 a seat for full day workshops.
“When it comes to finding a real estate coach, there’s no one-size-fits-all solution,” L’Eplattenier says, while recommending all three organizations. He also mentions 19 other real estate coaching options with names such as Club Wealth, Fortune Builders and House Flipping HQ.
“You have to find a coach who meshes with your personality and is teaching a topic relevant to your business,” he says.
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