In real estate, success breeds success. Understanding transaction processes, reading the market, and standing out from other real estate professionals becomes easier as you grow in your career—and one way to expedite your growth is through real estate mentorship.
Finding a successful mentor at any stage of your career is crucial, not only when you’re just starting your career but also as you mature. The insights and advice you receive from mentors will help you grow your business.
In this episode of Curb Appeal, our host Rachel Gombosch welcomes Rudy Johnson, CEO of RJ Estate and a top-producing professional in the San Diego area.
Rudy and Rachel discuss the value of having a mentor in real estate and all facets of life and how Rudy’s mentor helped him succeed through in-depth knowledge of real estate foundations.
Keep reading to learn more about real estate mentorship and why it matters, and check out the full podcast below:
Why real estate mentors matter
With the market continually changing, it can feel challenging to land on solid ground in the real estate industry. There’s a 30% turnover rate for new agents, and without someone guiding you throughout your career, you’ll likely feel rundown.
Mentorship can allow you to share key points and information with your team, even if you’re an established agent or brokerage owner. Here’s what Rudy learned from his mentor:
1. Importance of customer service
One of the biggest lessons Rudy learned from his mentor was customer service. The real estate industry isn’t a nine-to-five profession. You have to value human connection and relationships.
Customer service and going above and beyond for anyone, whether they’re somewhat interested, a lead, or a client, sets you up for success—which can then snowball into bigger business later.
2. Know the basics
Understanding the basics and loving the process of real estate is fundamental to your success. You have to know the rules and regulations of the industry and your market and have a purpose beyond wanting a big commission. Once you fully comprehend the basics, everything else, like marketing or finding your niche, will fall into place.
3. Self-care
Being devoted to your clients and business is important, but so is taking care of yourself. As Rudy says, “You need to refill your energy.” Your clients, business, associates, or team members rely on you to be at your best, so finding ways to recharge yourself is essential.
After all, if you can’t refill your own energy, how can you show up for anyone else? While working hard and hustling are essential, you must find balance—or, as Global Real Estate Coach Cari Briner would say, “work-life integration”—and know when to take a break.
4. Be hands-on
Rudy learned from his mentor that being hands-on is key to your business’ success. As a brokerage owner, you can’t show favoritism. Whether someone is a top producer or a new agent, it doesn’t matter.
Anyone can come to you for help, and it’s okay not to know it all. The point is being hands-on enough to say, “I don’t know the answer, but I’ll find it for you.” As with customer service and connections, actions build up over time to snowball into successes.
Why don’t more real estate agents have mentors?
When you are successful, it’s easy to fall into a rhythm and feel that you have it all figured out. Maybe you’ve closed enough deals to feel confident in the industry and market.
As Rudy sees it, you reach a peak in life and feel you no longer need a coach or mentor. However, regardless of where you are in your life, you still should have someone as a mentor or coach for the simple fact of accountability.
Knowing everything is impossible, you must continually seek growth to grow your business. Mentorship prevents plateaus and ensures someone follows up with you and holds you accountable. As agents know, real estate is a largely individual-based business, so you need to surround yourself with people who motivate and lift you up.
3 ways to be a real estate mentor
If you’re interested in becoming a real estate mentor to a newer agent or want to continue to grow yourself as a brokerage owner, here are three tips from Rudy:
1. Continue to grow
Although Rudy owns his own brokerage, he’s committed to growth. To show up for his team, he still has a coach and people he can rely on for accountability and continued growth.
2. Be personable
Owning your own business or brokerage means you have a commitment to a business and those on your team. Although this is a competitive industry, there shouldn’t be any intimidation or competition among your team.
You need to be approachable and show your team there’s both business and friendship available to them.
3. Hold each other accountable
When you lead with kindness and are personable, you create open communication with those around you. You can be vulnerable and have hard conversations without causing friction.
You know the feedback you’re receiving or giving is coming from a place of love, and you’re holding someone (or you’re being held accountable) to grow.
3 actionable next steps
Apart from the tips above, Rudy has three actionable next steps anyone in the industry can take to be a better agent, team member, or owner.
1. Fall in love with learning
Learning is a part of growth. You should be consuming material related to your industry. Rudy recommends reading or listening to a book for two hours a day.
2. Find a mentor
If you don’t have a mentor, find one, or consider investing in coaching. Personal development has no limit. Although your needs may change as you grow, it’s important to have someone who can provide guidance.
3. Understand your why
In any aspect of life, you need to know why you want to do something. To succeed in real estate, you must fall in love with its foundation and your ability to influence and impact the industry.
It will show if your main reason for loving your profession is commission. If you can show your passion for the industry—apart from making money—it will reflect in your work and actions.
Renew your passion with Virtuance
If you’re interested in learning more about real estate photography, real estate marketing, or the industry, check out other podcast episodes and sign up for our newsletter. And as we move into 2023, check out our trends report, which can help you level up and further serve your market.
