REIQ mentors are highly respected and experienced industry professionals who have a proven track eye in their selected fields. I don`t think that any real estate investor (new or experienced) agrees with me, that a mentor is essential to the growth of his business. We have had different mentors at different stages of our business. We had formal mentors (people we asked directly to look after) and informal mentors (network contacts we know and best-selling authors we`ve never met). In my humble opinion, if you want to succeed in this real estate investment activity, it is absolutely essential to have a mentor (or even a coach) who guides, supports and encourages you. No one succeeds alone. All the great businessmen – sportsmen, mothers and, of course, real estate investors – have around him people who support and encourage them. Bedak is looking after Steve Phipps, 60, a former forklift operator who obtained his real estate license in 2006 and sold part-time homes until 2012, when he let go of his license. Two years later, Phipps was fired from his forklift job and decided to return to real estate. KWRP Mentees have an incentive to choose carefully. They put skin in the game with a one-time fee of 250 $US. Your mentor also receives a portion of the office division. For example, if a mentee makes a sale with a commission of $10,000, the mentee receives $7,000, and the office receives US$1,500 and the mentor $1,500.
The layout may vary in other KW market centers, Bedak says. At least 16 aspiring agents, including Gordon`s daughter, Amanda, have been granted guardianship. She does not structure mentors with strict and fast rules, but she has a method. It identifies people who are not yet licensed. Often, she says, people who work in retail and restaurants are good candidates. “I was in retail, so I know that becoming a real estate agent is a good deal,” she says. “When I see someone overcome obstacles and do a good service, I say to them, `You`re doing a good job, and if you don`t want to have the rest of your life on your feet, baptize me and talk about a career in real estate.` ”The program lasts six months. Once the program is complete, neither party is required to continue the mentor/mentor relationship.
However, the couple may choose to continue their relationship outside the REIQ program. I think it`s a great power to have mentors and coaches throughout our lives. However, there is a clear difference between these two roles and people need to be aware of this difference and clarify their expectations before entering into one of the two types of relationships.