Real Estate Coaches and Mentors

The current real estate market is one of the best environments for real estate investing in many years. Having lost faith in many other traditional investments, large numbers of individuals have recognized the opportunities in investing in real estate. Having previously kept their nest egg or retirement funds in the stock market, they are jumping into real estate with little or no knowledge of the profession. "After all" they may say "how complicated is it to buy a house and rent it out?"

As real estate professionals, we know that it is much more complicated and risky than it may first appear. To whom is the new investor going to go for advice and guidance? Too often it is the real estate agent who is trying to sell the property. In my experience as a real estate broker and instructor, I have found that most agents (and even brokers) know little about the profession of investing in real property. To them, a "short sale" is one where the buyer signs the contract on the first visit to the property.

Knowing the situation, many individuals are offering their services as a "coach" or "mentor" for these new investors. Unfortunately, many of whom are doing so as a means of getting access to the investor's cash and credit for their own risky deals. These self-proclaimed coaches have had no training in coaching and do not subscribe to any established code of ethics (but their own).

The American Association of Real Estate Coaches (AAREC.org) has established standards and a certification program for coaches. Members who have been certified and who pledge to abide by the Association's Code of Ethics can advertise themselves as a "Certified Real Estate Coach." Real estate in general and investing in particular has always had more than its share of con artists and hucksters. A professional association will help to eliminate a few from taking advantage of new investors.