Real estate coaching 2.0
Real estate training and coaching isn't even at Web 1.0; its most basic
business model relies on personalized one-on-one coaching methodology.
Brokerage training programs rely on a series of classes. Well known
California based programs like Mike Ferry, Buffini and By Referral Only
(all headquartered within 50 miles of each other in SoCal) rely on a
hierarchy of coaches to personally deliver the message of their
programs - the strategies and tactics of managing a professional
career. And frankly one-on-one coaching works because it is customized
to the individual, but it costs more and doesn't scale well.
Real estate training should harness the Webinar - a virtual classroom where students can show up in their pajamas and coffee logged in on a web conferencing system like Webex and participating on a parallel phone line. The advantages:
Students:
Real estate training should harness the Webinar - a virtual classroom where students can show up in their pajamas and coffee logged in on a web conferencing system like Webex and participating on a parallel phone line. The advantages:
Students:
- Students prefer Webinars for convenience and don't need to commute to a classroom setting.
- Training content remains the same. The lesson plans and notes can be forwarded by email or posted on a website for reference.
- Depending upon the size of the class, student participation by phone and chatbox are similar to live discussion.
- Since everyone is on a PC, easy to teach PC or Web-based lessons on the spot, or show Web-based demos.
- Webinars are perfect for teaching Web-based lessons related to blogging, internet applications or any kind of website optimization.
- Webinars can be virtually "recorded" for future viewing or content syndication.
- Again, time savings because there is no commute to run a class.
- Preparation is virtual - no handouts, classroom reservation or other physical coordination required.
- One-on-one coaching is the optimal training paradigm. It's like having a personal trainer... the student is forced into accountability and performance, otherwise the coaching will be a waste of the student's time and money. Coaching companies want a high success rate for their students so they receive good references and can recruit new coaches from those successes.
- One-on-one coaching is customized and lucrative... these programs aim to maximize the student revenue stream.
- Finally, coaching via Webinar requires a new coach training paradigm that is more complicated than doing it one-on-one over the phone. Very few Mike Ferry coaches will be able to use a Web conferencing system, discuss the lesson plan, and write down notes on a Powerpoint presentation at the same time.
As a Real Estate Coach having trained thousands of Agents and Brokers I must agree with your Blog published today.
Coaching Brokers is very different than coaching agents. Brokers need one on one attention because of their individual business challenges and personalities.
While it would seem that standardizing a program would work for Brokers is does not. Brokers feel the need to be independent. If they belong to a Franchise they may get limited support. Some Franchisees learn from other franchisees who they assume are successful. In many cases the illusion is their downfall. Just because a broker has two MB and a Porsche does not mean they know what they are doing. It is easy to fool a competitor but difficult to fool a banker.
As I continue to coach brokers one on one around the country I find their attention span to be distracted by the day to day crises instituted from almost every angle. Staff issues, Agent Problems, MLS issues, Real Estate Commission issues, Spouse problems and most of all Recruiting disappointment. Recruiting is the most important aspect of growing a successful office and to most brokers no fun at all. They hate it! Rejection is what they cannot handle.
Most offices are under staffed due to budgetary constraints. Meaning not enough revenue to hire needed support.
The future for Realtors is somewhat threatened by the so called Discounters, Franchisor Greed, Cost of Overhead and agents who want to work less and not more. Call it the aging demographics syndrome.
E & O claims are up and the public wants to bring down any firm they can due to the buyer making a dumb personal decision to buy a home that they really could not afford.
We know it's not easy being a Realtor today. However many brokers would love to go back to being an agent due to the pain of being in business today. If you go to Florida or California you will find many Brokers willing to give their companies away.
You would think NAR would want to reduce membership fee's instead of raising them.
Why does NAR need a credit union? They don't but someone thought it was a good idea.
Brokers need support but are only to be perceived as a cash cow for an association.
Why would anyone want to be President of a Board of Realtors? One reason massive Ego's.
My experience show me that when a broker becomes a board president the business goes down hill fast.
In closing I feel it's time to think about how NAR can help the brokers and reverse the increase of dues being instituted. Cut back on all the MLS's in the USA to one in every state. Let the State Associations take over the MLS's. Lower fees and stop creating these departments that are impeding the Real Estate Industry.
Michael J. Stefonick, CEO
Optimix Marketing, Ltd.
"Successfully Coaching & Mentoring Thousands of Brokers/Agents since 1978"
Problems cannot be solved by the level
of awareness that created them.
Quote: Albert Einstein
www.optimix.com
[email protected]
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Bloggers have used this tech for coaching sessions that I have attended. It seems to be a great tool for teaching.
As far as Real Estate training; I'm split on my decision. The webinar lacks the emotion a good speaker can gain and capture your attention.
Great post Pat.
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I have taken both online and live classes. Whether it be college or a sales class I think that as long as you are interested in what is being taught you will learn. The speaker can make a difference if you are on the fence as to whether or not you want to listen. The speaker can make or break a class if the speakers material does not support why you are there. I will take classes both online and in person, and get very similar results.
Rick Marnon
http://www.oaklandlivingston.com
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Hi Pat,
Thanks for this post. I've never seen anything on this topic.
At the Real Estate Tomato we do all of our coaching through webinar, and I have never had one complaint or negative comment from a student.
Students love the environment as we are able to accomplish so much through live examples, presentations, desktop sharing, and personalized discussion. I couldn't imagine a better learning environment.
Our classes on blogging, SEO, SEM, and social networking are second to none... and I attribute much of this success to the flexibility of the webinar format.
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