Mentoring and coaching can benefit your agency and your team, as well as the entire industry. Here’s how.
“Mentoring and coaching are important elements in ensuring we foster our people throughout all stages of their career,” REINSW Training Manager Aaron Barber said. “Without mentoring and coaching, people feel undervalued and can burn out very quickly. They can lose motivation, become frustrated and get to the point where they want to move on.
“In short, mentoring and coaching are great retention tools.”
Aaron explained the difference between mentoring and coaching.
“Mentoring is development driven, whereas coaching is performance driven,” he said. “Mentoring can be used to motivate and inspire people to see what is possible in their career and life. Coaching, on the other hand, can be used to improve on-the-job performance.”
More than simply benefiting your agency, Aaron said that mentoring and coaching have industry-wide benefits.
“It’s inevitable that some people won’t stay with your agency for their entire career,” he explained. “They will move on. However, through mentoring and coaching, we can maximise the chances of these people moving on to other opportunities within the industry, rather than leaving real estate behind. The industry, as a collective, is not losing their talent and expertise.
“The last thing we want is to be a ‘burn and churn’ industry. We don’t want people coming in and then running for the exit 12 months later.
“As an industry, we need to become better at mentoring and coaching our people – not just at the early stages of their career, but at every stage of their career. We have to listen to their needs. What are their frustrations? Where are they struggling? What guidance can you provide to help them navigate the way forward?”
REINSW is now in the process of developing a mentoring and coaching program.
“Through talking to members, it’s become clear that there’s a gap in our industry, so REINSW is developing a formal mentoring and coaching program to fill this gap.”
“Through talking to members, it’s become clear that there’s a gap in our industry, so REINSW is developing a formal mentoring and coaching program to fill this gap,” Aaron said. “The program will cover how to mentor and coach new entrants to the industry, as well as existing agents who have been in the industry for a while. It will also cover how to put a formal mentoring and coaching structure in place, including the creation of development plans to ensure your team are meeting their KPIs.
“Your agency will benefit because you’ll be getting what you want and need from your team. And your team will benefit because they know they are valued.
“The program will improve your team culture and will be an important element in guiding agents on their career pathway.”
Aaron Barber
REINSW Training Manager