Top producers in the luxury real estate industry tend to have one thing in common: a mentor.
In fact, mentorship is one of the quickest ways to grow your luxury real estate career, and the luxury real estate industry is full of experienced professionals who are willing to take on a mentee.
Besides helping new luxury real estate professionals break into luxury real estate, a luxury real estate mentor can also be helpful for breaking into new price points, exploring new niches, or simply leveling up your current skill set.
Plus, learning from someone else’s experience is often an easy way to avoid making costly mistakes or missing opportunities you might not otherwise see.
The secret to finding a ready and willing mentor?
Knowing how and where to network — and of course, knowing how to sweeten the deal so that the relationship is mutually beneficial.
Here are a few tips to start your search…
1.) Finding a Real Estate Mentor: Ask How You Can Help Them
First, it’s helpful to acknowledge that asking someone to mentor you feels like a big favor. The truth? Mentorship isn’t a one-way street, and the best way to break the ice and soften the ask is to first offer to help the person you’re seeking out as a mentor.
Fortunately, real estate lends itself to mutually-beneficial partnerships like commission splits (teaming up on a transaction and splitting the commission), transaction coordination, and other ways to help your mentor either profit or take some work off their plate.
Asking a question as simple as, “How can I help you grow your business?” or “Would you be interested in a mutually-beneficial partnership?” can be a great way to start the conversation.
2.) Finding a Real Estate Mentor: Start With Your Brokerage
When you’re first starting out, your brokerage is where you’ll receive a lot of your initial support. Plus, since everyone there is “playing for the same team,” you’re likely to find someone there who will be willing to help you grow your business.
If you can’t pair up with a top producer, someone slightly more experienced and working in your preferred market and price range can be just as helpful.
3.) Finding a Real Estate Mentor: Take It Slow
One thing to keep in mind? Don’t force the relationship. It’s exciting to find someone you look up to who you’d love to partner up with, but it’s important to let them take the lead and let things unfold naturally.
Again, part of nurturing this relationship is aiming to give as much as you receive, and it may take a while to establish trust and mutual respect.
Unlike what you may expect, you may never simply sit down with someone and ask, “Will you be my mentor?” and have that person immediately say yes.
Often, mentorship is a dynamic that “blooms” from a working relationship, or peership that helps both parties involved over time.
4.) Finding a Real Estate Mentor: Join a Professional Luxury Real Estate Network
Organized luxury real estate networks exist for a reason, and it’s smart to take advantage of them early on in your career. For instance, becoming a Member of the Institute gives you access to some of the top producers in the industry.
Plus, our new Institute Network is an active online community for Members outside of social networking platforms where luxury real estate professionals connect on everything from challenges they’re facing in their business to finding those mutually-beneficial relationships that help them grow.
And, since Institute Members are some of the most well-rounded, service-minded luxury real estate professionals in the industry, our Network is packed with value and support.
Is It Time to Take Your Luxury Real Estate Career to the Next Level?
The Institute for Luxury Home Marketing’s Certified Luxury Home Marketing Specialist™ designation is a globally-recognized designation for luxury real estate professionals.
While this special designation is reserved for luxury professionals with a certain amount of experience and training from the Institute, you can start working towards that experience and training now, no matter where you are on your path to become a luxury real estate professional.
Click here to learn more about what it’s like to become a Member and what’s required to eventually earn your designation.