Does Coaching Really Payoff?

There was a recent article in Inman dedicated to real estate coaching that examined why agents decide to hire and coach and whether or not the coaching delivers a return on investment. Although I have personally experienced the payoffs of coaching and I have been able to see the growth of my own clients through coaching, I was happy to see that the statistics are also demonstrating these results. You can access the full Inman article HERE and I would like to share some of the major findings and key points that would be relevant to you.

Let’s start with why agents hire coaches in the first place. What are they hoping a coach will do for them and their business? According to the Inman survey, there are 3 main reasons people hired a coach

1. To Grow Their Business
2. To be Held Accountable
3.  To Motivate

We are in a business where there is so much room to be pulled in multiple directions and have a number of different things vying for our attention.  It can be easy to mistake movement for achievement. Often we feel busy because our calendar is full and we are running from here to there. However, it is important to note that many of the things we are choosing to spend our time on are not revenue producing, productive activities. The coach keeps the client focused on the target…their goals and the most important actions they must take to reach their goals! A good coach understands that the goal belongs to the client and they are not in judgement. Nevertheless, the coach is there to stretch their clients and keep them accountable for doing what it takes be as successful as possible.

In addition, having a coach is like having another eye on your business. A coach is like an objective eye watching over to see where you are and what your future may hold. Think of the Tiger Woods of the world. Even those who are at the top of their game and are the best at their craft have a coach who can see their swing form a distance. In this case Chris Camo, Tiger Wood’s swing coach, serves as this person. He is able to improve accuracy and distance while taking the guesswork out of the equation. Consider your coach the expert to be able to do the same thing. As a result, many clients refer to the coach like a personal business trainer to help them do the same.

We know that a coach can help keep their clients stay focused on their goals, stay accountable for their actions and provide an outside objective eye on the business, but the question that most people are interested in is “does coaching really pay off and what is my return on investment? “According to the Inman survey on real estate coaching, the answer is yes and yes! The vast majority of agents who work with a coach have a return on investment. For every nine out of ten people surveyed, they saw an increase in production from 10-50%, and some even tripled their production as a result of coaching. That’s great news for you and me!

One of the most cited reasons for an increase in production is the accountability that a coach brings to the table. Coaching provides personal accountability.  We know that people keep promises better to other people than they do to themselves. When we make a commitment to someone else about what we are going to do, we tend to follow through at a much higher rate than if try to do it on our own. The coach’s job is to hold up the mirror of reality for their clients, support them with facing that reality and empower them to make necessary changes to create the habits of success.

To continue, the survey showed another key to success of coaching is the strategic partnering that comes with the coaching alliance. Coaching is also about training and sharing what we know is working in the industry. We know that success leaves clues, so there is no need to reinvent the wheel. One of the cornerstones of coaching is that it is a “relationship of partnership” where the coach is a partner in their clients business and shares with them what works.

In conclusion, the Inman survey presents the overwhelming evidence demonstrating the power of coaching for real estate agents. What could coaching do for you and your business? Now is the time to invest in yourself and see your production increase to up to 50%? It all starts right now.