What Is Real Estate Coaching?
Watch a video from the creator of the Real Estate Coaching industry: Mike Ferry, The Global Leader in Real Estate Sales Training.
Coaching For Professional
Real Estate Agents
Mike Ferry provides an array of Real Estate coaching programs, proven systems, Real Estate sales training events, products and resources that will help you grow in every aspect of your Real Estate business.
Coaching For Brokers,
Owners and Management
Mike Ferry’s Management Programs are essential to building an office of top producing agents. we focus on increasing agent production, retention, training, coaching, accountability and office profits.
How Did Real Estate Coaching Start?
“And then I made a comment which quite honestly changed the real estate industry forever.” – Mike Ferry
I was giving a seminar in San Francisco, CA and had about 400 very, very high-profile, strong agents in attendance. It was a four-day event at the end of the second day, I just felt I could not connect with this audience. This happens. I’m sure it’s happened to you with a seller or a prospect. I couldn’t get them to feel or understand what I was trying to say. The day was dragging to a close, and then I made a comment which quite honestly changed the real estate industry forever.
The comment was, “you know, I have an idea. Every one of you should give me a check for $5,000 and then I’ll call you once a week and I’ll give you a good, strong sales tip, a good strong sales idea, I’ll give you an assignment to do, I’ll give you a kick in the butt, a pat on the back. You need more of this information because you’re not getting it,” and I walked off the stage and that was at four o’clock.
The next morning, I came back in the room about 8:30 for a 9:00 start and there were about 200 business cards stacked up on my table on the stage.
I said to somebody, “What are these cards?”
Somebody said, “Well those are the cards of the people that want to write you a check and have you call them once a week.”
I said, “You’re kidding.”
He said, “No, we really want to do that.”
Well that was how we started real estate coaching, and even though the format of real estate coaching has evolved dramatically since then, my system and message have stayed the same.
Where is the Real Estate Coaching Industry Today?
Well it went from being one coach, myself, in 1988 and one coach only for several years to today I’m going to guesstimate, and I’m not 100% correct, there’s probably 7-8 hundred Real estate sales coaching companies opening in North America and throughout Europe, where we also have a company operating today.
And it’s interesting because today if you look on LinkedIn, almost every real estate agent has next to their name: Bob Smith, real estate agent, author (usually bestselling author), mentor, coach, real estate trainer. Almost every broker lists themselves: real estate coach, mentor, trainer.
I’m not sure I understand why, but the real estate industry has accepted coaching at a very high level. Why has it been accepted at such a high level, and why is there so much competition for your time, your attention and your money in the industry? And I’ve said this for many, many years; real estate does not normally attract strong people that come from a direct sales background. That is not the emphasis that is attractive to our industry.
Our industry doesn’t bring those kinds of people in, we bring in good, solid working people that come from a variety of backgrounds, work habits and industries. Many times, people that have never had a job before.
For this reason, real estate coaching should be about direct sales. Meaning: teaching an individual how to complete a listing and/or a buyer-controlled sale in the most effective, productive, efficient manner to make their life, and their customers’ lives’ better.
How to Describe Real Estate Coaching
So, watch, I’m not going to try to sell you on being involved in coaching. If you would like to participate, we would be thrilled, but I think I want to clarify more than anything else what this real estate coaching is all about. There’s a lot of noise out there and I want to cut through it all so you can make the best decision possible for you and your business.