Ask any person what their ideal avenue of investment would be, and more often than not, the answer would be real estate. It’s easy to see why this is the case, since – after all – the fact of the matter is that land is a commodity that is constantly increasing in value every single day.
Just take a look at the sheer amount of landowners and brokers that have come up over the past few years. This will help you get a clear idea about the rising prominence of real estate in today’s day-and-age, and why most people consider it to be a viable investment choice.
Any person that is adamant about investing in what might be a fresh and promising patch of land needs to keep one thing in mind at all times – while the real estate market might be extremely profitable, that’s only if a person manages to invest in a piece of land that will blow up in value over the next few years.
Trying to achieve this goal can be an extremely challenging endeavour for more reasons than one. After all, making an informed guess when it comes to an unpredictable market like real estate can prove to be nigh impossible.
This mandates the need for the need to consult experts, who have the insights required to make sure that a person is able to maximise their investment and attain a sizeable profit. Without doing so, an individual runs the risk of losing a substantial amount of money, which is obviously not an ideal situation to be in.
For these people, real estate coaching is the need of the hour for multiple reasons. This is where your skills as a real estate coach will come into play, since it’s evident that people who are stuck between a rock and a hard place will turn to you to attain the insights they want.
So, before we get into the thick of things regarding how to become a real estate coach, the first thing that we need to talk about is…
What exactly is a real estate coach?
Without mincing any words, the best way to describe a real estate coach is someone who knows anything and everything when it comes to the real estate market, and how it would react to certain catalysts, whether internal and external.
What does a real estate coach do?
The main aim of a real estate coach is to provide aspiring investors with valuable advice regarding the best course of action that can be taken to make sure that the investment they make doesn’t go to waste.
Your goal as a real estate coach is to ensure that a person is not conflicted in their decision-making process, and attains valuable insights from you that will ultimately help them make an informed decision, as opposed to an impulsive one.
Why do people go for the services of a real estate coach?
You need to know exactly why anyone would want to go for your services in the first place. After all, there are certain specific reasons why a person would want to go for real estate coaching, and you need to be completely clear about these requirements so that you are able to better serve your client’s needs.
So, keeping this in mind, here are some of the major reasons why people would want to go for real estate coaching.
1. A second opinion: As we’ve already mentioned before, real estate coaching services are witnessing a noticeably high spike when it comes to its demand, since more and more people want to invest in real estate but not make any grievous errors in the process that will prove to highly detrimental in the long run.
This makes it essential for aspiring investors to make sure that they don’t screw up and lose their hard-earned money on what is not a smart investment at all. This is certainly easier said than done, especially since there are just so many factors that govern any particular investment decision.
Therefore, it’s important for these people to opt for real estate coaching services, so that they can get the advice required to make sure that there are little to no problems that will negatively affect their investment in the grand scheme of things.
Aside for achieving a piece of mind by having their decisions be validated by a third party (or receive an honest answer regarding why this choice of investment isn’t the brightest idea), your clients will also attain a sense of confidence when it comes to their decisions as well – provided that the advice is actually helpful.
2. Attain valuable insights: The real estate market is a fickle structure, and there are various factors – both external and internal – that will cause major shifts in this market. However, reading the cause-and-effect of these factors can be quite a challenging endeavour.
This is majorly why most people choose to go for real estate coaching services, since they want to understand exactly how this market is affected, and how they can make the most of this situation – or also avoid any problems so that they don’t end up wasting their hard-earned cash.
As we’ve already mentioned before, your services as a real estate coach will help these people improve their confidence by a large extent, since they will be able to figure out how to optimise their investment path by understanding exactly how the real estate market works.
3. A less-than-stellar investment record: As a real estate coach, the one thing that you will get to know sooner rather than later is that the majority of people who choose to go for your services already have some experience when it comes to investing in real estate.
It also shouldn’t come as too much of a surprise that these people haven’t exactly struck gold when it comes to this particular form of investment. After all, the fact of the matter is that these people would be interested in real estate coaching in the first place if they were successful from the get-go.
So, to make sure that they don’t make any more mistakes and lose out on substantial amounts of money, these people would prefer to consult an expert – you – before they decide to make another investment.
After all, no one wants to be a loser – especially if the implications of losing involve becoming a flat-broke person with a worthless piece of land to their name.
What skills should a real estate coach have?
Becoming a real estate coach is no simple task. If you’re serious about pursuing this particular course of action when it comes to your career, make sure that you develop the following skills so that you can be competent at your job.
1. In-depth knowledge when it comes to the real estate market: This pretty much goes without saying, but if you feel like you don’t have enough information when it comes to the real estate market and all its developments, then you might as well bid farewell to your chances of succeeding as a real estate coach.
And, trust us when we tell you that no amount of information can be quantified as enough information. After all, your clients will be dependent on you to help understand exactly what is the best course of action that can be taken to enjoy the best investment opportunities that can be taken in this market.
Without extensive knowledge in the realm of real estate, not only will the advice you provide to your clients end up being largely ineffective, but you will also end up dissatisfying the majority – if not all – of your clients who were looking up to you for some sage advice.
2. Being honest when it comes to feedback: Let’s face it – the majority of people who go for real estate coaching services (or any form of coaching, to be honest) are people who have screwed up in the past, and specifically don’t want to screw up again.
For these people, it’s important that you don’t beat around the bush and straight-up tell them when their decision-making is not up to the mark. Don’t shy away from sounding too rude – after all, one of your primary roles as a coach is to call people out on their BS, especially if they don’t know that their idea is BS.
So, keep this golden rule in mind at all times, so that you don’t end up faltering later on when it comes to the services you provide as a real estate coach.
3. Genuinely wanting to help others succeed: This might sound extremely cheesy, but before you start judging us for putting such a clichéd point, just put yourself in the shoes of a person who knows everything there is to know when it comes to the real estate market.
If this does happen to be the case, and you are able to accurately gauge how the real estate market works for the most part, then what’s stopping you from utilising this knowledge for your own good, while you wilfully mislead other aspiring investors?
You might also listen to the information that other people have when it comes to the ins-and-outs of real estate, and use this information to improve your own investment opportunities as well.
It takes a lot of willpower to stray away from these urges and genuinely help your clients when it comes to the investment that they’re making. This is a crucial skill that you need to develop, if you really want your real estate coaching service to become a household name.
How does one become a real estate coach?
If you’re wondering whether any particular qualification is required for a person to become a real estate coach, let us quell your worries by saying that there is no such requirement.
Any person who knows about the real estate market and genuinely wants to help other people can become a real estate coach with ease.
Of course, it certainly doesn’t hurt to attain a qualification of sorts, so that people attach a sense of credibility when it comes to your skills in the realm of real estate coaching.
There are institutes like INSEAD and the International Coach Federation (ICF), which provide a coaching certification if you are interested in attaining one. However – as we’ve already stated before – this is completely optional, and it’s ultimately up to you and your personal preference.