Where are we in 2024: How should we cultivate high quality real estate agents?

My real estate journey is highlighted by my unending search for ongoing mentorship as a check and balance of my own judgment, and to outsmart my own imposter syndrome. As an educator, I naturally gravitate toward providing mentorship which gives me insight into my own need for growth. I rely on the wisdom of various mentors, not just those in the real estate industry.

I have told this story while teaching, bringing to light my experience. We all go through life collecting experiences and as we go, we put them all into a proverbial bucket. Over time, these memories change as they are parsed by continuous new experience and ideas. After some reflection, I knew I had to start taking them out of my bucket to share.

Everyone’s life experience is unique. It makes them who they are and reveals their value. Experiences build on each other and changing any one of them along the way, may change your path. When mentoring someone, this idea needs to be communicated, as almost a type of therapy challenging the mentee to learn and develop their path.

Doesn’t sound so easy, does it? So many in the real estate world see themselves as having mentorship qualities without genuine motivation. They are self-focused on their own business and success, and excited to speak about their accomplishments without sharing their “secret” processes.

In gathering experiences for my real estate bucket, I searched everywhere, listening to anyone who was willing to share. I explained my theory of mentorship and felt like it was out of the mainstream. Why is this so important?

We are at a crossroads in the real estate business. The systems and processes I developed and shared continue to hold value. It is important to find what is distinctive about yourself so that you can bring value to others. There are evolving components to becoming a quality real estate professional. My hope is that agents will value true mentorship, and learn about self discipline and deliberate practice.

Should licensure for real estate include required mentorship and higher education? Should the bar to entry be more difficult?  Should there be an increased focus on the level of supervision new agents receive as they develop? Although continuing education is required, many times it is lip service to learning. If you are productive without foundation, it is unsustainable. Everyone gets the same licensure education, and it is incumbent on the agent to evolve from there. There is little oversight, so you must seek out those who are willing and able to help. High production doesn’t equate to problem solving, having grit or learning from failure. It's a mindset.

My take is if you are going to embark on a real estate career, do it deluxe. It’s worth it. You have not only a fiduciary responsibility, but a moral one to your clients. There may be a shorter and more glorious route to success, but these may be extrinsic rewards.

How do you create success? What defines success? Where does motivation come from? Are we introspective to be able to seek help when and where needed? It’s different for everyone and often talents go undiscovered. One thing is for sure, if you don’t use your talents and develop additional skills, any immediate success could be unsustainable. Even though there are some prescribed roadmaps, the route is different for everyone. Think about how you want to be and who you want to be. Our current situation allows for a single managing broker to “lead and mentor” hundreds of associates. How probable is success for those associates with such limited resources?

In a paradigm shift for the real estate business, let’s focus not only on how much business is done, but also the quality of the people we train and educate in the spirit of “you have to give something to get something.”