It’s no secret that real estate is a competitive business, but it turns out that working together – not against each other – is better for everyone, especially when it comes to mentoring rookies.
According to Inman, mentoring younger, newer real estate agents can help make more senior agents better by keeping their skills sharp, increasing their income and expanding their network.
REIX CEO Lisa Sabo agrees.
“Mentoring builds collegiality and collaboration. This is good for agents working for the buyer and the seller. The transaction goes well and there are satisfied consumers on both sides,” says Sabo.
“Beyond the trade in real estate, there are many facets to organized real estate. Getting involved on boards keeps the industry vital and strong. In order to be successful, we need strong agents at all levels in the industry. Mentoring fosters success.”
Learning the Ropes
And while there are plenty of good examples of mentoring in the industry, there are just as many new agents struggling to learn the ropes on their own.
“I’m aware of how competitive it can be out there and have heard stories of agents taking advantage of the lack of knowledge other agents. Maybe there’s a perceived short-term victory but in the bigger picture, the better everyone is at their job, the better opinion the public has of the industry,” says Sabo.
“From an insurance perspective, the more knowledgeable and skilled an agent is, the less likelihood that REIX will be seeing a claim. Fewer claims keep everyone’s premiums low!”
The Real Estate Insurance Exchange (REIX) provides mandatory errors and omissions insurance to approximately 13,500 Alberta and Saskatchewan real estate industry members and protects them from financial loss due to negligent acts while performing their real estate duties. Follow us on Facebook!