Finding a dependable mentor in all walks of life is important. Nobody knows that better than Jacques Poujade, a managing partner at LendPlus. He works with several people who are in the real estate business, and he has seen his fair share of success stories, as well as failures. What are his keys to finding the right mentor?
Have goals in place beforehand
The best way to get started in real estate is to have a firm understanding of what your goals are as an individual. If you know what you want to accomplish, it is going to be a lot easier to find that mentor.
Think about where they are right now, and where you would like to be at that age. Nobody’s going to know how to get to that stage in real estate better than someone who has lived and breathed it.
Find someone who will give you respect
The real estate industry is pretty cutthroat, and the truth of the matter is, not everyone is going to be pleasant to work with. You might come across someone in real estate who is very successful, but they don’t care about anyone else.
They might be successful, but they are going to be a good mentor. It is going to be impossible to get the respect from them one is looking for, and they will probably be very hesitant to give quality advice.
It is better to find someone who is approachable and willing to show respect to the next generation.
Be willing to open up and expose your weaknesses
To grow in any professional field, it helps to feel free to identify any shortcomings. Being able to talk freely with a mentor is going to be extremely beneficial. A good mentor will be able to listen and reserve judgment, even when some vulnerable stories are told.
Everyone makes mistakes in real estate at one point. If we were all perfect, we would be multimillionaires with little to no worries. The truth is, this is a tough business to be in, and not learning from mistakes can be extremely frustrating.
Trust their advice, but challenge when necessary
A mentor is going to have a lot of great advice, so it needs to be a trusting relationship for the most part. If they suggest something, put in the time and effort to do that. It might be frustrating at times, but they know what they’re doing.
With that said, the real estate industry is always changing. What worked for them in the past might not be applicable today. This is where it helps to challenge them at times. If you start to look into things and noticed that a trend is changing, come back to them with new information. Just because they are the mentor does not mean that they can’t be challenged and learn something from you. It works both ways when there is any type of mentorship taking place.