Real estate is one of those businesses that will always be lucrative, but it's not immune to its ups and downs. The trick to surviving any shocks is to, in a way, keep hustling by making new connections, building and following up on leads, and just practicing sales and people skills all the time. Plus, you also have to constantly keep thinking about newer income-producing activities. It’s a lot of work by yourself.
Seasoned real estate professionals probably already know all this, but even they sometimes find themselves unable to keep up with this list. In these cases, what is needed is an accountability partner.
As the name suggests, a real estate accountability partner helps agents keep their business on track by hustling to form new connections, meet and build connections with potential clients, and follow up on leads by working with discipline and developing a routine. Your real estate accountability partner, if they have experience or expertise in the field, will also be able to provide tips and tricks used by the top real estate professionals so you can think of long-term development. Finally, your partner will be invested in your business growth, so they’ll be a great source of motivation, advice, and support.
How accountability partners help real estate professionals
Consistency is key to success in any field, for which you need to be loyal and disciplined to a routine. So a real estate accountability partner can help make sure you are scheduling your days and ticking off all the boxes you need to on a consistent basis.
Managing people and time
People skills are a big requirement in the real estate business. If you don't always feel the best at building connections and forming helpful networks, your accountability partner can help you overcome challenges by providing some tips and tricks to get rid of the reluctance and setting the tasks into two or three micro commitments for you to fulfill.
At the same time, a real estate professional needs to be mindful of their personal time and spend it as efficiently as possible – accountability partners can help with too!
When there are a lot of things going on in life and you have a long to-do list to get through, it's easy to let distractions creep in and lose control of your work. Having to stay accountable to check in on your work will keep you focused, motivated, accountable, and on track.
Providing honest feedback and new perspectives
Like I said before, if your accountability partner is in the real estate business, they can help provide you with some honest feedback on your work goals and how you approach them. If they also face you're not pushing yourself enough, they'll challenge you to keep doing better and improving your processes.
Types of accountability partners in the real estate business
A Coach for Real Estate Professionals
A real estate coach is someone who teaches and trains the agent on all the nitty-gritty of the profession based on their own experience and expertise in the field. They could be a teacher, a guide, or just someone who likes to share ideas and advice with those new in the business or those wanting to learn more through in-person or online sessions.
A colleague in the real estate business
This real estate partner is a fellow agent who displays commitment, discipline, and other traits you may want to emulate on the field. If they're not a direct competitor, then they may be happy to help you with your work in return for some advice and accountability themselves.
Where to find real estate accountability partners
Most real estate professionals are part of or aware of a network, community, or organization that fits their vibe -- be it a group for home agents, for businesses, or even a network for agents of particular demographics. Find one and interact with people to see who can be your accountability partner.
If you’re more comfortable communicating online, join real estate professionals' groups on Facebook, Twitter, or Reddit for advice, critique, tips, ideas, and support from other members, agents, and other users. Just be sure to not fall deep into the rabbit hole of debating strategies!
Join a class for personal growth
People skills, lead generation, and income enhancement are all important traits of a real estate professional, and there are also classes available for them by experts. Join a class to not just develop these skills but also meet other like-minded people who can go on to be your partner.
Tips for working with real estate accountability partners
Set an agenda
Agree on proper deadlines for submitting progress. This also involves setting proper goals--so why not try SMART goals? An example of this would be, instead of just promising your accountability buddy you'll call people this week, say you'll call 100 people in seven days by spending an hour on phone calls every day. The agenda-setting also includes scheduling the time and frequency of your catchups with your partner, so you're both on the same page!
Work together and exchange notes
If your real estate partner is actively in the business and not a direct competitor, try to schedule a work session together. Do some exercises together like calling people or organizing a mock open house so you can see each other's processes, give feedback, and learn new ideas.
Iterate on the relationship
Set clear expectations about what kind of motivation, accountability partnership, and feedback you're looking for, whether the coaching process is helping you, and how you can continue to work together.
Also give them regular feedback on areas such as how they’re keeping you accountable or sharing their opinions, whether their advice is working for you, and even if you think the partnership is not the right fit.
Looking to improve your business or your business skills? Getting accountability could be your best bet! Here are some more articles to help you start the journey right.
- How to Find an Accountability Partner
- Productivity Coaches - Who Needs Them, and How to Find the Right One for You
- The Best Books About Procrastination to Read Right Now