Real Estate Coaching and Training – What’s The Difference?

How is Real Estate Training Different From Real Estate Coaching? 

You’ve probably heard of getting training in real estate, but what about real estate coaching?

Although most people would use the terms interchangeably there is actually a difference…This difference can make a change in your overall effectiveness, success in business, and even your confidence.

Here is what we know:

We’ve helped scale the businesses of tens of thousands of real estate agents.

When you start with a free real estate coaching consultation, chances are we can help scale yours as well. Schedule yours today!

Real Estate Training

What is real estate training?

Real estate training refers to educational programs, courses, workshops, and seminars designed to equip individuals with the knowledge, skills, and expertise needed to succeed in the real estate industry. This training can cover a wide range of topics relevant to real estate professionals, including:

1. Licensing Requirements: Training to meet the legal requirements for obtaining a real estate license, including pre-licensing courses and exam preparation.
2. Sales and Marketing: Techniques for effective property marketing, lead generation, client acquisition, and sales strategies.
3. Negotiation Skills: Training on negotiation tactics, conflict resolution, and communication skills to navigate transactions successfully.
4. Legal and Compliance: Understanding of real estate laws, regulations, contracts, disclosures, and ethical standards.
5. Technology and Tools: Familiarity with real estate technology, software, CRM systems, online platforms, and digital marketing tools.
6. Market Analysis: Training on market research, pricing strategies, property valuation, and market trends analysis.
7. Client Management: Building and maintaining client relationships, providing exceptional customer service, and managing client expectations.

Real estate training can be provided by real estate schools, professional organizations, brokerage firms, online platforms, and experienced industry professionals. It is essential for both new and experienced real estate professionals to continuously seek training and education to stay updated with industry trends, regulations, and best practices, and to enhance their professional development and success.

Real estate training is used for very SPECIFIC initiatives and is usually a one-time event, conference, or gathering. An example would be your association of REALTORS® rolls out a new version of the purchase agreement or your Multiple Listing Service has a new tool or process.

Real estate training is also for things like new changes in processes, procedures, technology, or even regulations. All the training events you’ve probably attended in the past had a leader or a trainer. Real estate trainers are typically someone who walks you through a specific process to get a result on a specific item or task.

Fundamentals of Real Estate Training:

• Takes place in a group setting
• Learning objectives is the focus
• Follows the show me, tell me, let me, and test me model
• Directs learning
• Training typically has low to no levels of accountability

Real Estate Coaching

What is real estate coaching?

Real estate coaching refers to a process where real estate professionals, such as agents or brokers, receive guidance, training, and support from experienced coaches to improve their skills, strategies, and overall performance in the industry. Real estate coaching encompasses a range of activities and techniques tailored to the individual needs and goals of the agent or team.

These coaching sessions can cover various aspects of the real estate business, including:

1. Lead Generation: Strategies for attracting and converting leads, both online and offline.
2. Marketing: Techniques for effective property marketing, branding, and promotion.
3. Sales Skills: Improving negotiation tactics, closing techniques, and client communication.
4. Time Management: Organizational strategies to enhance productivity and time efficiency.
5. Business Development: Creating business plans, setting goals, and tracking progress.
6. Market Knowledge: Staying updated with market trends, pricing strategies, and local market analysis.
7. Client Management: Building and maintaining strong relationships with clients, providing exceptional service.

Real estate coaching can be conducted through one-on-one sessions, group workshops, online courses, or a combination of these methods. The goal is to empower real estate professionals to achieve greater success, overcome challenges, and reach their full potential in the competitive real estate industry.

How Real Estate Coaching is Different from Training

While coaching will still involve learning and striving for objectives/goals there is a very different focus and a different end result…

Real estate coaching is an ongoing activity designed to help you maximize your business and achieve your full potential through accountability.

The best real estate coaches have a dedicated interest in your success and will show you how to reach that next level of growth by directing actions of change.

Your real estate coach will help you meet the goals you’ve set out to achieve by equipping you with the skills, resources, and proven methods.

Hiring a real estate coach is really the biggest step you can take when you are truly invested in your own success.
Additionally, good coaches will take a “carefrontational” approach to really help you get past the things that are holding you back.

This might mean an uncomfortable conversation about bad habits, limiting beliefs, or anything else that might prevent you from achieving your full potential.

Fundamentals of Real Estate Coaching:

• Takes place on an individual one-on-one basis
• The focus is on improved behavior and performance
• Facilitates critical thinking and decision-making
• Controls process through questions
• Coaching has high levels of accountability
  
  

Real Estate Coaching vs. Real Estate Training

Of course, there’s overlap between the two…
Certainly, there’s coaching involved in training and there’s training involved in coaching.
Yet now that you know more about the differences between coaching and training, you can be more intentional about your learning and success track.

Your Success

Both training and coaching have a unique role in your success.
So, the important part is what do you have planned for coaching and training this year?
Are you attending at least one full-immersion event every quarter?
Are you currently working with a coach who is committed to your success?
Make this year your best yet, and take the actions that will lead to the biggest success in your business.

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At Tom Ferry, our team has decades of experience helping realtors grow their businesses. Discover invaluable insights, customized strategies, and expert guidance to supercharge your lead generation, marketing, and more!