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Are you a picker or a producer?

Pick me Generating business. Do you do it? Or are you relying on your Broker or your team leader to provide you with business?

If you are not generating your own business then you are working a job. A job that can be snatched from you at any time. Personally ,this is not a position I would want to be in.

It’s also a position that will limit you in your career. You are depending on others to provide your income.

To a Broker you bring less value to the table than an agent that brings business with them. You have very little negotiating power when looking for a place to hang your license.

Business owners create/find business. That’s what we do. We get up every day and do what we need to do to generate NEW business. Our “job” is finding income. When we find enough of it we are then able to hire others to go pick it off the trees for us. Pickers are necessary but the reality is just about anyone can do it.

If you want to have a lasting career in Real Estate don’t be just a picker. Learn to be an income producer.

A producer brings income with them. You have far more value to Brokers. You are bringing us the thing we are looking for…..income.

So, if I were a new agent, I would be spending time every day learning how to generate business. This is by far the most important skill for you to develop. I use the word develop because it is an on going concern constantly evolving and changing directions depending on where the current market leads you.

Once you learn how to generate business you will have lasting security in Real Estate. It’s as simple as that. What say you?

Bryant Tutas
Broker/Owner
Tutas Towne Realty, Inc
Licensed Florida Real Estate Broker
http://CentralFloridaShortSales.com

http://ShortSaleSuperStars.com

Are you a Florida REALTOR(R) looking for a change? Check it out.

CENTRAL FLORIDA REALTOR(r) OPPORTUNITIES

Posted by Bryant Tutas Broker/REALTOR(R) Tutas Towne Realty, Inc on 09/28/2009 03:13 PM

Comments (70)

Generating Business in the Training Channel

training, leads

Originally posted at: BrokerBryant.com: Are you a picker or a producer?

70 Comments on Are you a picker or a producer?

SEP

Reserved Parking For "The Lovely Wife"...TLW...ROAR!

Hun...

It's the whole added value thing. It is not up to the Broker to generate all of the business that creates the income. If an Agent is not generating business of their own, where's the value? What does the Agent bring to the table? Aside from...Well...Burden :)

P.S. Can I sing now? :)

TLW...ROAR!

I was just thinking about this this morning. As the broker of my company, I'm definitely a go-getter. I'm hungry for more. I just need to figure out how to coup with their bigger appetite of mine (smile).

I consider myself a farmer. I create a field and sow some seeds(websites). Birds and wildlife(buyers and sellers) are attracted and eat some of the free food I provide for them. They leave me some crap that keeps my fields growing. Unfortunately my fields are at the risk of bad weather and changing migration patterns.

BB - This is excellent advice for agents who are not producing their own income and you are right on all points.

Very well said.

I am not a broker, but I have a TEAM Office for the production of my REO work. I have 5 buyers agents who run the leads I generate - but they all have to do their own business as well.

I use the analogy that I am not going to put dinner on the table for any ones family - that is up to the agent. I just want to make sure they have a real nice desert ! and maybe even a bottle of wine ! !

Lead generation is key to building a real estate business, we are out everyday looking for new business and new sources of business. Our broker is there for support and training and not to hand business to me, if that were the case we would be in trouble!

If we do not get new leads or talk to people about real estate everyday, we are out of business... kinda like owning a pizza joint, if no one comes in for Pizza we go out of business!

Bryant,

I had to read that title twice!

It's a good post newbies some with six months experience many times over need to consider it! There is nothing wrong with being a good licensed broker's personal assistant, but don't except to be paid or treated like a salesman!

Brokers should also consider do they really want a salesman or a personal assistant. 33 years ago I was faced with this decision. I brought in the business so I decided no salesman! I opened two offices one a sole proprietorship and the other a partnership after three or four years we did take on one salesman. I also was licensed with two other offices at the same time and filled in for the brokers or aided when they had trouble, between them their were over 100 salesman every time I spent time in the offices I knew for me I didn't want salesmen!

Bill

You are singing to the choir.

Generating business is the key to my success.

My brokerage does not provide me with leads nor do I expect it to provide leads. As independent contractors, it is necessary to build your own book of business.

It 's been key to me this year and I am always looking for more. In some ways I would love to be a new or newer agent in these times of internet marketing. It's so exciting when leads start coming in and there is so much to learn but you can accomplish what you want/need so much faster.

I like what @Tim Maitski said. I guess coffee is for Pickers, and I like my coffee Bryant, oh yes I do.

I feel that a broker's job isn't to generate leads, but to teach agents how to generate business for themselves. I'm always sort of amused to hear agents whining about their broker not feeding them. It's sort of like that old line from, is it the Bible, about giving someone a fish vs. teaching them to fist.

And fishing is fun. It's easy once you get the hand of it.

I say AMEN and thank you for saying what I have believed all along! I tell agents, you are not working a job, you are a business owner and if you do not wake up everyday realizing that you are the CEO of You, Inc. you will never be a great agent that stands the test of time! Well said!

I started out on the team of a very succesful broker. The deal was that I would get some training, personal mentoring, and leads generated by the team's advertising. Well, I got all of that, but quickly realized that I was doing nothing to build MY brand. It wasn't actually a bad arrangement, but it meant living off of someone else's crumbs for as long as I stayed. Now I'm building MY business and it feels good!

I never had a broker feed business to me. In fact, in the past, only the "chosen few" got referrals, relo and business from the brokerage, and unfortunately, I was not one of the chosen few being newer, which really burned my perspective regarding the favortism. The first year in the business, I got on the first page of Google and generated half my income from the net. Now that I am my own broker and own my own small, boutique brokerage (just my wife and me), we obviously need to sink or swim. Nothing like the fear of failure staring you down on a daily basis to motivate someone.

At what point does an agent go from 'being in a slump' to being a liability/burden?

While I agree with your post 100% and have never received a lead from my brokerage ever, I find it amusing that the Brokerages actually lure newcomers with the promise of providing "carrots" (read leads). RE/MAX actually promotes hiring agents for the brokerages touting "LeadStreet".

BB ! personally, I created virtually everything I sell through my networking. 90% of my business is referral, so I put my efforts to developing rapport and faith from my network organizations and sphere etc (especialy past clients !)

Working very hard on that has created a consistent stream of new warm to hot leads for me over the years.

Of course I wont turn down any in house leads that are dispersed, but I certainly do not go through the motions and "work a job relying on others for leads" !!! lol !

Cheers BB !

Sheldon

BB... this is great advise for any agent. Some food for thought

I worked my butt off during my first couple of years, doing floor time, open houses for anyone who would let me, and putting their listings on my web site (since they didn't have their own sites). And I did all that so I could become as independent as possible! I wanted MY name to be the one my clients remembered in the future! I had my own logo designed a long time ago. And I left my last brokerage because I was paying corporate brokerage fees to a company that did not have a clue about technology. In my mind, those 2 points were inextricably tied together. Why was I paying a corporate fee, and not getting any internet leads from them? My own site was always WAY ahead of theirs! I'm much happier when I'm generating my own leads. After all, we are "independent contractors".

Amen - this is what I've been saying for quite some time. Now if agents could just 'get this' they'd be so much further ahead in all aspects. And we brokers would be happy happy campers and so willing to share so much more.............

Picker or Producer, I love it! Great post and very true.

SEP

It's so important to remember to continue to generate new business. You need to provide excellent service to your current client base and maintain relationships with your current pipeline, but if you aren't continuously trying to fill the pipe with new leads, you'll soon find the well has gone dry. It's the most important part of our job as owners of our own company.

Spot on advice... too bad you cant come to the staff meeting Wednesday... and bring your wife with her whip! or maybe I could just borrow the whip.... ? thanks

Hi Broker Bryant,

One of the problems with this concept is that the big brokerages themselves perpetuate the notion that they provide "leads" to their agents. At least that's the norm in our area. They do so in order to extort ridiculous splits. Between franchise fees and broker's share - newer agents don't stand much of a chance. Commissions are low around these parts and many are actually grossing less than 1% per transaction. Also big-box brokerages are also "cracking down" on private IDX sites and sometimes on blogging. They pretty much want their agents to restrict their on-line presence to their web page on the brokerage site!

Bottom line, the brokerages want it both ways - they aren't giving out leads - at least nothing significant, and at the same time are trying to "control" the flow of leads. I left that type of brokerage behind a little over a year ago - it was the best move I could have made.

Broker Bryant- thanks for this... it's motivating, no matter what level you are at or how long you have been in the business. It's all about lead generation. I appreciate the push!

Bryant as always good advise. From what I have observed the "how to" aspects of developing the business base is often glossed over, leaving newer agents at a true disadvantage and incurring huge start up costs to "get started". In Big Box franchises, the bait is lead generation-which as most who have taken the bait realize after the fact the hook which first attracted them will not feed them-just reel them in where they flounder until they die.

Plant good seeds (yes I still use them) and cultivate them, realizing that it is an ongoing process.

It's like "pimping" (Hey I watched a lot of 60's movies)

If you are relying on someone giving you the tricks.. you are tied up to your pimp

When you generate your own. . you can fire your pimp

Just report to the police if your broker. .I mean your pimp beats you up when you leave him!

Broker Bryant, you always have very interesting posts. I really like this analogy. One of the hardest parts of real estate is producing the leads. But you are right, it's an ongoing process.

We have agents who get the bulk of their business from corporate...what happens when the well goes dry!

I started in this business as a buyer's agent for a very good mentor. Although early on I got most of my business from him, one of the things he taught me was the importance of always prospecting and generating business. Even after 20+ years in real estate, he would occasionally experience a lull in business shortly after he allowed a lull in his prospecting activity. After 10 years in the business, I find the same thing with business generation; if you don't continually work on it, you eventually end up with very little business to work.

Well said Bryant, I hope are buyer's agent doesn't read this LOL. It took me years to learn the true connection between lead generation and having a stocked fridge. Now we are at the stage where we can turn down listings we don't think are realistic or a good fit. The best advice I ever heard was when I was asked what business I was in, I stated Real Estate.....I was promptly told NO....your in the LEAD GENERATION business, without leads you starv. Of course I actually believe I am in the service business but that statement still has alot of truth to it.

As a broker that I respect once said..."There are those that you have to bring the fish to and then there are the ones that go out and get their own fish!"...very true!

To Chad #32: I am a buyer's agent who generates my own leads. I choose not to carry a large amount of distressed listings. I would rather have listings but I don't have many choices in my current environment that I live!

As for sinking and swimming, I just fired my team back in July. They sucked up an abundance of time (I am estimating more than half of a normal work day) for mentoring, closing, addenda writing help. They pissed and moaned that I was "greedy" because I took half.

I got sick of it because I was dedicating my life to them for a shitty $40-50K a year and working some long days, with a TOTAL of 8 days off by Father's Day weekend of this year. I pretty much told them to all go jump in a lake as TLW would say.

I couldn't have done anything smarter. I pretty much manage my own leads, farm (refer) them out to agents WHO KNOW HOW TO WRITE CONTRACTS, SHOW HOMES, MANAGE ESCROWS and HAVE CLOSING SKILLS and they appreciate me.

I just freed up 4-5 hours a day by doing that and I sincerely don't want to look back. Several of my former team members are crying that they are on the verge of going out of business. I won't forget the accusations that I am "Greedy" and feed them anymore.

Watch what you say and what you do, don't bite the hand that feeds you because you could be bitten back. You should get your own biz if you want to stay in biz!

Great comment Renee. I have worked by myself for years. My buisness was listing properties. Most of my buyers were referred out to agents in my market area. it was agreat way to build good will with my peers.

Now since my business has switched heavily over to buyers I have stared expanding. I now have 4 agents under me but I'm wanting 15-20. Already it's proving to be a major head ache!!! But I think once I get more it will work itself out. We'll see.

I love how they get the sense of entitlement and start saying "you are this and that" and try to prove their worth. That's the struggle I have had since spring until firing date. I think it can be managed more effectively with more agents because with 15-20 you will end up with 1-2 solid ones that you will favor eventually!

I am pretty hard core because if someone wants to do wrong to me (or thinks I am doing wrong to them with the entitlement attitude) I will just let them go. I am a "lead, move, follow or get the hell out of the way" kind of person. I have come to the conclusion that only a distinct few succeed in this career because "they get it".

Since my broker is challenged in the arena of technology, I've been the one to handle the setup of our website and other online presence. (small office, two agents, one of which is part-time) So, I've taken the liberty of directing all the leads my direction. Then, I'll shift what I don't want over to the part-timer. I like being the one to get my own business. It's on my terms!

I am a team leader and I am responsible for the direction of my group. Although I am with RE/MAX, the old days of franchises getting your leads for you, or the power of a franchise name is pretty close to meaningless these days.

I was recently offered a 'job' under an REO listing agent. I'm happy to take buyer referrals (and pay a referral fee) but I have no interest in working under another agent. Particularly when I know more about that agent's business than they do...

Hi, Bryant:

The complaint I often hear from agents whom I have been (cautiously) talking to about coming over to my company most often concerns leads. (As Rajeev mentions above.) They're not getting any from their current brokerage. I am happy to generate leads and referrals, but I don't want to have somebody just hanging around waiting for them. It's not worth the expense.

Great post, as usual, and I am enjoying everybody's comments, too.

Cheers,

Robin

This is a post a seasoned real estate agent should read as well as someone just starting in the industry. The market has changed so much in the last few years that to be in this industry you cannot sit back and wait for anyone's left overs.

Very interesting post and it's almost a shame that the wrong people are reading this. What I mean by that is the majority of people reading this are producers not pickers. When I worked for other companies I was promised good pickings, yeah right, LeadStreet in the 3 years never bought me a closing, so I am glad I was always of the producer mindset.

"I'm a picker, I'm a grinner . . ." hehehe

My first brokerage was Mom, Pop, MIL, 2 sis's and that was 50% of the office.

I KNEW I was NOT on a level playing field. So I built my business from day one.

My agents are offered my overflow, but if they do not generate their own clientele, WORK AND NURTURE IT, they will be limiting their options.

Even if you work for someone else, if you don't consider yourself "self-employed" in this industry, you're missing out and won't be near as successful as you could be.

Renee...

The Agents we do work with had better get it together.

Or this one <CLICK CLICK> will be handling everything :)

In no way is that meant to be a threat. It's simple reality :)

TLW...ROAR!

I agree. Unless you are willing and able to generate your own business, you do not have a long term sustainable business plan.

TLW: I didn't think you gave more than two choices: :click click: or toss in the lake!

Which one do you prefer?

Definitely need to generate our own business. I agree with you there, Bryant.

What troubles me more often than not is the assumption that all lead generating activities are equal, or that older traditional methods of lead generating are the only ones that we should pursue.

You post is very relevant for how the real estate markets have been these last 18 months or so. If you rely on someone else, it is a job. Creating your own opportunities makes it fun. They may not always work out, but you learn from the experience and build upon it. I've only been in real estate a couple of years, but it is something I have realized early. The best clients are the ones you find yourself - and their success is much more rewarding.

Renee - I'm hearing ya. I was just considering "expanding" - especially for market expansion but in the end, I forgot the reason of going out on my own - to be on my own. After speaking to Lenn, Missy and BB - case close. You just supported my decision. Thanks, my friend. I think it's the right thing for me too.

The not-so-baby 2-year old also takes up ALOT of precious time. I rather be babying him than adult agents (for now atleast).

My goodness, if I depended on anyone giving me any business, I'd be out of business!

I think that when one enters this business one need to be of the mindset of "I am Marie, Inc." (or whatever your name is). You are a business owner and you must think that way.

Great post. To the point and powerful.

I'm sitting in my car on the laptop and reading this great post. What am I going to do after I get home? Lead generating, of course!!! The arm is feeling better and I'm ready to hit hte ground running. Thanks for inspiring me!!!

Simple but accurate. "Fail your way to Success," and you will fail for a while before you start turning your sphere of influence into an income generating resource. Nice post.

Definitely a producer, I have never had a deal handed to me, not did I ever ask. And, I fired my assistant last week. Your timing for this post could not have been better! Here I am, working 50 to 60 hrs a week, and my little helper does not complete half of the routine stuff he is supposed to do in his 4 hr work day. Well ...

Being a rainmaker is the only way to be succesful. If you're not making it rain then you have no control at all. This constant need to bring in new business is why I like the REO business model so much.

Traditional buyers and sellers need to be courted. REO asset managers need to be courted only once. As long as you keep them happy, the work continues to come.

http://www.bpos4reos.com/

Renee...

I prefer our Son. He's my new click. Well, in my case I think they're calling it a cult :)

TLW...ROAR!.

Well said that is why I'm a blogger!

Oh I love this! I have ALWAYS been a producer. And now I have an office filled with pickers. I need producers!

It seems as though to many people forgot that every buyer and seller deserves our attention. It is sad and in the end I think professionals that continue this way will ultimate not survive in this business. None of us are too big to return a call or answer an email. Great Blog!

BB - I'm usually sure I'm a producer, since my company does not generate any business for me, I do this all by my lonesome, originating my own loans and leads for referral partners. But then you said "A producer brings income with them" - hmmmm, might have to re-think my answer. :-)

Bryant, very good point. Many times agents think it is the Broker's responsibility to provide them with business....if this is the case the Broker would be better off with employees.

Hi Renee, I agree! We have had some good succes since forming a small team a few years back. We only have 1 buyer's agent and an administrator, my partner and I do both buyer/listings but mostly listings. I think you have to be pretty picky when selecting a buyer's agent as many do expect something...or alota something for nothing. We had been approached by 4 or 5 agents over the course of last year but knew they would not be a good fit. When we were approached by the one we have now we knew it was right. We also had the advantage of watching him work for a year before he came to us. Our feeling was he was honest, hardworking, and creative, but he lacked funds and lacked leads. He has turned out very well this year averaging 2 deals a month all year and we get great customer reviews from the clients he works with. So we did't take just anybody and we certainly could be bigger but so far so good. Grow slowly and wait to find the right people. That last part was actually my brokers advice but hey...so far so good. By the way, I love your Blog, very informative. Cheers.

You are so right about the difference between being one who just picks the fruit and one who produces something.

SEP

As a broker, I would value more agents who are bringing in their own business.

Since I am my own broker, I have to generate my own leads.

Well said sir. I generate business and the people that work for me are just working that job... If they all left tomorrow, I would still be left with my business and they would be left with nada.

Bryant,

I, like you, have a lot of leads to provide to my agents but not enough to make them all a six figure income with my leads alone. It is just a supplement to THEIR business. I saw a comment above about many agents leaving other brokerages because they weren't getting leads. I let an agent go a while back that was one of those. This agent is still going around town saying I didn't give any good leads. This person had over 60 viable leads in the month prior to leaving. We called on these after the fact & most never even recall hearing from this person! Unbelievable. Be really careful about using 'leads' as bait for hiring agents. I now focus more on training & support so they can get their own leads :)

What a great post (as usual). I am blessed in this department, and it goes both ways. I get business from different avenues.

I am working hard to generate my own business through internet marketing/promotion. And it is working.
I do floor time, and have to say I get business from it.
I am getting leads from my broker because of the internet marketing I have been doing. Because I am the only one doing any in my office.

If I sat and waited only for leads to be handed to me, I would starve. I have thought about what would happen to me if I didn't have my own "stuff" set up and decided to move to another company.

I have witnessed the slow agonizing death of agents who were hand fed, especially the relo crowd. I am also watching what happens to those that are not jumping in with both feet on the internet. I have mixed feelings about this within my own office. The more business we all do, the more business we will all get. But, I am getting rather selfish, I want the blanket on MY side.

OCT

From the desk of David Dee,

BB, great points and good reminder. Those who don't generate their own leads are a liability as they will fall faster than an avalanche atop a mountain.

I guess I have been a bad blog host AGAIN!!

It's been a very hectic week.

Depending on others to provide my income is something I have never been comfortable with. Even if I fail at something, whcich I have on ocassion, I want it to be because of me not because some one else pulled my legs out from under me.

I guess that's why I'm self employed.

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