REALTORS® see increase in business with professional coaches

This is the second article in a two-part series on professional coaching.

Personal coaches have helped many REALTORS® develop the skills and systems they need to help their businesses survive – and thrive – despite the challenging market.

Suburban Philadelphia REALTOR® Tom Smeland has worked with his coach from Real Estate Champions for nine years.

“Last year was my second best year in terms of commissions in 12 years. Coaching has helped my ranking within RE/MAX in southeast Pennsylvania,” Smeland said. “It’s been something that has helped grow my business through the down times and by using new strategies, procedures and lead-generation technologies.”

Coldwell Banker Preferred REALTOR® Maria Quattrone agrees that her coaching with The Mike Ferry Organization has helped her business. In the three years she’s worked with her coach, Quattrone’s business has experienced 20- to 30-percent growth each year. She attributes the success to the systems and scripts.

“We have their systems in process, and we’re continually growing our business, even in a down market,” she added.

West Chester REALTOR® Peggy Conaway says working with Buffini and Company has increased her business as well.

“I doubled my business last year,” Conaway, with RE/MAX Town and Country, said. “This year will probably be my second best year.” She attributes this to Brian Buffini’s encouragement for her to enhance her business skills before the recession hit so that when it did, she was used to working harder and smarter.

The REALTORS® agree that accountability is one of the most important reasons they stay with their coaches.

Quattrone said coaching offers REALTORS® structure, support and accountability. “If you don’t have accountability, it’s very hard to make it,” she said.

“Left to my own devices, I can sabotage myself,” Smeland said. “With my coach, I have someone bringing me back into focus.”

“My coach offers me encouragement and consistency,” Conaway said. “My coach does not let me slip. Everything is cyclical and that can be mentally wearing; she keeps me on target, even when the dips are happening. As opposed to slipping, I keep focused on the positive.”

Quattrone is a believer in the systems used with Ferry’s coaching system. “Mike Ferry coaching is really about how to speak to people – how to ask the right questions to get the desired result for your client. The systems are very specific. And they teach you how to pick up the phone,” Quattrone said.

Buffini’s system is relationship-based and uses a database to track all clients, not just past clients, according to Conaway. “We build a referral base and trust with this type of system.”

While working with a coach can be costly, many REALTORS® believe the expense really pays for itself.

“It’s a costly venture… but my coach is a terrific sounding board. I get fresh ideas that I haven’t looked at and I have someone to hold me accountable to my own goals,” Smeland said. “When I break the costs down I do at least one more transaction a year. My coach helps me review my budget, what results I’m seeing from advertising and focuses me back on my business. Coaching can actually save you money when you look at what’s working.”

Smeland said one of the reasons he has stayed with his coach is that he previously worked in the real estate business. “He is someone who was actually in the business and I knew him when he was in real estate,” he added.

“When I started, I didn’t know what I was doing,” Conaway said. “You run out of people you know who want to buy a house. So you have to find a way of developing or adapting a system that works for you. The best part of our business is the people and my coach reminds me of that.”

Quattrone added, “Coaches guide REALTORS® through the process and help them understand the market and how to price.  Ultimately, coaching will help you reach your goals faster.”