Why You Need a Mentor (And How to Find One)
Many people ask me how I got my start in real estate and becoming a landlord. After attending the University of California Santa Barbara for college, a family member I admired suggested real estate as an industry I could establish myself in with little start-up capital. I decided to look for my first job as a broker. I knew that while I may not need capital, I would need connections, advice, and wisdom. So I began my search for a mentor.
I knew it was essential to align myself with the right mentor early. I had job offers from several big real estate companies, but when I met David at Daum, I knew he would be an important influence in my life. He was a professional, but he also cared about me as a person. In my early years, we ended up buying property together and eventually became partners. He was a monumental guide in my early real estate career, and we are still good friends to this day.
If you’re new to real estate, you should be looking for mentors. The knowledge of the industry that you can glean from their experience is invaluable. But how do you find a mentor when you have no connections or track record? If you follow these steps, you’ll be surprised by how many successful people are happy to give back to someone looking to join the business.
- Figure out what you want to do, and do anything you can to be around it.
I knew I wanted to get into industrial real estate, so I applied to every position I could find. Decide what field you want to be in and jump into the process with passion. Even if you don’t get hired right away, you’ll begin to meet people who are doing what you want to do. Ask questions, follow their lead, and look out for the leaders you admire and want to work with.
- Look for a mentor who is just ahead of your goals.
When people hear the word mentor, they often think of someone who is much older. But while you should be looking for a mentor who is successful, the ideal mentor doesn’t need to be too far away from where you are in your career. It helps when a mentor can look back and see that it wasn’t long ago that they were in your place. A mentor that is 5–10 years older than you, as opposed to 50 years older, may have more current strategies that will work for you. When a mentor can directly relate, they can give more relevant advice. You can also diversify your mentors — find people you can look up to in different levels of your industry.
3. When you receive advice, show gratitude.
Believe it or not, most people are more than happy to give advice when asked respectfully. As you meet people, feel out who is receptive to working collaboratively. If they give you insight, thank them! Make them aware that you are taking their advice, and the results you experience. If you are honestly grateful, the person giving the advice is likely to become invested in your success. If you are struggling, it will become natural for them to provide direction.
Successful industry leaders enjoy knowing that they have a positive influence on those around them. When you give credit where it is due, and thank people sincerely, mentor-ship is a rewarding experience for both parties. Gratitude is a sure path to finding the right long-term mentor to help you shape your career. — Steven Taylor
