Business coaches exist in every industry, and I’ve dabbled in hiring a coach over the years.
When I first entered the business, I had a mustache, and Mike Ferry, the best known of all real estate coaches, said to shave it off because “people don’t trust agents with facial hair.” A week later I asked a seller why he listed with someone else, and he said, “Well, I didn’t trust you.” Off it came!
Recently I was offered a free one-hour coaching session with a lesser-known coach, and I accepted the offer.
During the session, he thought I was giving my services away too cheap. He said I should charge 7% and not reduce my commission when I don’t have to share it with a buyer’s agent. (I charge 5.6% and reduce it to 4.6% if I double-end a transaction.)
He didn’t like that I further reduce my commission when I earn a commission on the purchase of a seller’s replacement home and that I provide totally free moving in that situation, too.
“You’re worth more than that,” he said. I didn’t hire him as my coach.