Trends come and go but value is always the same.
One major trend in the market right now is to hire a “coach” or to be a “coach”.
I am an advocate of coaching; coaching has brought me great success in my business and personal life. To take things to the next level, I even coach others on real estate and business; so alas, I am coached and I am a coach.
But I hate coaching.
I hate it because it’s a slimy industry with zero barriers to entry. Anyone can throw up a website and call themselves a coach overnight – or even in an afternoon.
The industry is filled with snake oil salesmen and it’s hard to know who to trust.
Often in the coaching industry, coaches are like the “Wizard of Oz” aka: a big powerful presence but beneath it all is a little man behind a curtain. There is no substance to many coaches and in many cases, the wizard isn’t who he’s cracked up to be.
When I became successful at real estate, I had people calling me all the time for help and for coaching. Initially, I said “no” I would not help them.
But the calls kept coming.
Then I decided to become altruistic and help them for FREE which turned out to be a waste of time because no one showed up for their sessions and no one did their homework.
But the calls kept coming.
Finally, I decided to charge significant money for coaching and voila, the students became achieved significant results.
I became an accidental coach.
Human nature is human nature and until we actually put some skin in the game, we don’t do anything. Who knew?
Don Campbell, a Canadian Real Estate expert recently wrote a great article on “how” to evaluate your real estate coach(http://www.donrcampbell.com/how-to-evaluate-your-real-estate-coach)
Anyone can call himself or herself a coach, but do they walk the talk? Do they practice what they preach?
Here are some questions (paraphrased from Don Campbell) you can ask you potential “Real Estate Coach” before retaining him for services:
- What’s in it for them?
- Do they have a financial incentive to push me to take action on their information?
- Will they coach me by selling property to me?
- Do they have real experience in the market? Or are they offering information that they read in a book?
- Are they currently using the strategies they are teaching?
- Have they done the absolute bare minimum of 10+ real estate transactions to give them enough experience in different buying and selling situations?
- Have they survived in the market for at least 5 to 10 years? With 10 years being the amount of time needed to go through an up and down cycle?
Have the guts to ask the hard questions before spending your money with anyone.
Remember, your success in business and life is directly correlated to your ability to have hard conversations.
Thanks for reading!
Respect The Grind,
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