In this episode, Kim Borchardt and Rebecca Green discuss the importance of mentorship in the real estate industry. They define what a mentor is and explain how a mentor can help expedite an agent's growth and success. They also discuss the differences between mentors, coaches, and trainers, and the importance of finding the right mentor who aligns with your goals and business model. They provide advice on how to find a mentor, including cold calling successful agents and asking questions to ensure alignment. They also emphasize the need for a structured mentorship program and the benefits of on-the-job training.

Takeaways

• Having a mentor in real estate is critical for success and growth.
• A mentor is someone who has a vested interest in your success and is committed to walking alongside you and sharing their wisdom and advice.
• Mentorship can come in various forms, such as a singular person, a team, or a partnership.
• It is important to find a mentor who aligns with your goals, business model, and strengths.
• A mentorship should last at least a year, but ideally two years, to fully learn and navigate the complexities of the real estate industry.
• Finding the right mentor takes time and effort, and it is important to ask questions and ensure there is clarity and alignment in the mentorship arrangement.
• Mentorship provides on-the-job training and the opportunity to learn while doing, which can expedite growth and success in the industry.

Kim Borcharding and Rebecca Green interview Toni Mikel, a real estate broker in Portland, Oregon. Toni was Kim's mentor when she first started in real estate, and they discuss the importance of having a mentor and finding what works for you in the industry. They also talk about Toni's background in real estate, her experience as a 30 under 30 recipient, and the value of building relationships in the business. Toni emphasizes the importance of doing what's best for the client and finding efficiency in your business. The conversation touches on topics such as the importance of understanding ROI, the value of working with the right clients, the benefits of owning a brokerage, and the challenges of training and mentoring new agents. They also discuss the current market conditions and the role of NAR in the industry. Toni shares her philosophy of staying focused on her clients and providing exceptional service, rather than relying on online presence or marketing tactics.

Takeaways

• Having a mentor in real estate can be invaluable in guiding your career and helping you succeed.
• There are many different paths to success in real estate, and what works for one person may not work for another.
• Doing what's best for the client should always be the top priority in real estate.
• Building relationships and networking with other professionals in the industry can lead to opportunities and growth.
• Finding efficiency in your business can help you maximize your time and focus on what truly matters. Understanding the ROI on every hour spent is crucial in the real estate industry.
• Working with the right clients who value realtors is more important than chasing every deal.
• Owning a brokerage can provide more control and efficiency in the business.
• Training and mentoring new agents is essential, but it's important to find the right balance and focus on personal strengths.
• Market conditions may fluctuate, but adapting and providing exceptional service to clients remains key.
• NAR plays a vital role in maintaining ethical standards in the industry.
• Building strong relationships with clients and being a trusted advisor is more valuable than online presence or marketing tactics.

In this conversation, Rebecca Green and Kim Borcherding discuss buyer agency agreements and the changes that will be rolling out in the near future. They share personal stories and insights about buyer trepidation and the importance of having clear communication and understanding between buyers and agents. They emphasize the need for buyers to be educated about the buyer broker agreement and the role of the agent in the transaction. They also discuss the importance of experience, local expertise, and trust when choosing a buyer's agent.

Takeaways

• Buyers should be educated about buyer agency agreements and the role of the agent in the transaction.
• Clear communication and understanding between buyers and agents is crucial.
• Experience and local expertise are important factors to consider when choosing a buyer's agent.
• Trust and a good fit in terms of communication style are also key considerations.
• Buyers should interview potential agents and ask about their experience, understanding of the area, and their process for managing the transaction.