The Difference Between a Real Estate Coach and a Mentor

April 6, 2022

In today’s world, mentoring and coaching are often used interchangeably. In truth, they are a hundred times more different.

Regardless of where you are in your real estate career, you need a mentor and a coach to take your business to the next level. The question is: which one do you turn to for a particular need?

Mentor vs. Coach: A Stark Contrast

Let’s start by talking about what a mentor is.

Simply put, a mentor is someone who shares their knowledge and expertise about a particular topic or skill with their mentees, or those who have less experience than them. They advise their mentees and point them in the right direction when it comes to career growth.

A mentor could be someone you look up to, someone you would like to learn more about and share life with. More importantly, a mentor is someone who has “been there, done that,” making them a reliable source of advice for the mentees.

On the other hand, a coach is more concerned about the growth and goals of your company. They assess your current business situation and give you the steps you can take in order to level up your business.

A good business coach is great at identifying your goals, prioritizing them, and leading you on the best path to achieve them. Thanks to their go-getter attitude, you become more accountable and goal-driven as well.

In conclusion:

Now that you know the difference between them, how do you know which one you need?

How to Choose Between a Mentor and a Coach

At this point, you may already have a person in mind. Before you make a decision, consider the following first:

1. Know where you are. 

Are you just getting started? Or are you currently unsure about where you should be going?

If you are in the former category, a mentor can provide you with valuable suggestions on where to go based on their experience. Depending on the viewpoint you portray to them, they can respond quickly.

However, problems and challenges might get more complex and nuanced with time. At this point, it's best to engage a coach who can help you identify any blind spots you may have overlooked as you begin to expand your business.

2. List down your needs.

If you already have a list of needs, then a coach would be able to help you develop strategies on how to get them. 

However, if you have no idea where to start looking, the wise words of a mentor may just be able to point you in the right direction.

3. Be greedy; have both.

Why settle for one when you may have both?

Some people are fortunate to be able to find both in the same person. However, not everyone can thank their lucky stars. In any event, having both a coach and a mentor at your disposal is preferable.

After all, the most successful people have a network of coaches and mentors that help them broaden their minds and reach new heights. Who wouldn't want that in their business?

In conclusion, whether you need a coach or a mentor, the goal is to find the right one that will encourage you to take your own path to greatness while avoiding most of the landmines along the way.