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Are You A RainMaker or a DealMaker ?

I think Realtors and Loan Originators will become highly specialized individuals in the next 5-10 years. The business will split off into 2 distinct personalities: Rainmakers and Dealmakers. I'm going to share some thoughts about identifying what you are and then some proactive ideas you can take to exploit your strengths in 2007.

raio Rainmakers are "Connectors". They know how to find people interested in your service offering, build trust, establish relationships and find business. I love rainmakers because I am one. I have made the most money in my career when I focused on rainmaking. This is not to say that I don't know the technical aspects of my business; I do but I've been able to hire people to manage that part of the process. I am a salesperson and I'm extremely proud to say that. Rainmakers are hunters. Rainmakers are trailblazers. They are the oddballs that know which rock to look under and which alley to turn down to find a ready and willing prospect.

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Posted by Brian Brady- America's VA Home Loan Broker on 11/30/2006 11:17 PM

Comments (67)

realtor, mortgage, san diego real estate

Originally posted at: America's #1 Mortgage Broker: Are You A RainMaker or a DealMaker ?

67 Comments on Are You A RainMaker or a DealMaker ?

NOV

2006

Brian, Great blog. The internet has really opened up the possibility of so many business opportunities. Rainmaker and dealmaker is very interesting. Serious things to think about.

Brian..... wow.... you are certainly letting yourself lose, by writing what you want to write. Great Job and Great Post. Talk about thinking outside the box. Knowing who you are.... what your specialty is..... and most of all, able to determine where this industry is heading and to be in front of this wave...to ride it to the end, as others try to jump on it.

We certainly do think a like, because I was just describing this very own thought to him yesterday.

Again......great job here. Oh yea... me? RAINMAKER... in the last 2 years. Prior to that, dealmaker.

I think I was a rainmaker for 20 years before real estate, in real estate I have become a dealmaker. Great topic Brian

" Mitchell, your pricing strategy and marketing ingenuity was nothing less than spectacular. Having so many solid offers to choose from so quickly enabled me to not only get the price I wanted but the terms as well. Having a signed contract in less than a week and Closing in less than 30 days removed all the stress regarding my relocation and the new condo I bought in South Beach. By the way thanks for getting me a great Realtor in Miami."

This testimonial from your profile tells me that you are are equally adept at playing from strength on either side. You're my Big Apple Dealmaker, Mitch

actually...Brian..after thinking about this.... a dealmaker doesn't have to be making deals work locally.

I will have to lean with Mitchell a little.... I would consider myself 80% as a rainmaker, but making deals work... all over though.

Jeff: Thanks for the comment. I'm freestyling here and loving it. i think I'm going to build a model on rainmaking for Realtors. I'll blog about crazy stuff about the market, get my database to buy condos in Miami, Manhattan, and Vegas, and collect a referral fee.

In all actuality, Jeff C.'s causal marketing made me realize that I need to fine tune the strength, here.

DEC

2006

Thanks Brian. I used to be in ad sales I never dealt with any of the technical stuff. I have an idea for a new business model for Manhattan.

Teams will become more and more common in real estate. This allows people to focus on their strong points and let other do what they are weak at. This will hopefully allow people to look at us as professionals.

Brian when I clicked on 'right here' I love that my photo came up lol@me. This is fascinating. Great food for thought.

This was quite motivating, thank you Brian!

Brian, all of us are different and we are in the business for different reasons, some are interested more in the money (not to say that the others are not) and some are interested in the hands-on with the people approach. Teams came about I feel, when real estate was at its peak and the rush of listing, having multiple offers and the mundane office paperwork that went along with all that...made it very easy for teams to crop up and prosper. My belief is that teams will dwindle due to the natural slowing of the market.

I understand the philosophy and certainly folks promoting innovative fast track ideas but there is a cycle with everything and the "old fashion" service where the buck stops with me, I strongly feel will return.

Just my opinion.

OK, Gena...I hear ya! Does that mean you are a dealmaker? Meaning, in my model, you would be best served marketing to other professionals who need people who provide old-fashioned service?

I'm not talking about "teaming up" with someone, but maybe there are 2-3 "rainmakers" who will collect a referral fee in Sac and a whole bunch of rainmakers throughout the state who would do the same? You keep your existing clients, and take on additional work (while paying a referral fee).

I'll bet after these elections, you'll be busy just selling my party's homes to the other party's new legislators

Brian, very interesting and intriguing analysis of what may be. I definitely agree that we will need to narrow our focus in the days ahead, and rely more heavily upon our network partners to achieve our full potential.

Brian - You got me thinking. I guess I am a deal maker who needs to be a little more of a rainmaker.

Good Morning Brian -

As soon as you mentioned 'oddballs' I was sure of what section I fell into - and proud of it!

I fall into an oddball section. In that I build a lot of rain clouds and let it start to fall and then spend time helping my team put the deals together so I can do the final sale.

In Equity Planning and managing Real Estate for Wealth you have to do a little bit of both. The rainmaker can establish the link, the deal maker makes it work for everyone involved and in my experience the highest closing and best ending happens when the rainmaker comes back in to finish off the presentation.

Makes for a cohesive team and lets your clients know that it is not just a pretty face out there gaining their trust.

Brian, You've really hit on something here. The use of the internet for real estate contributes to the rainmaker side of the business. Some people grasp the concept and use it to bring in business and others may be more comfortable with the dealmaker role.

Reserved Parking. Will have to come back Bubba is hungry. Don't give me a ticket. I am not double parked. :)

"Brain aka Bull"

Guess I would like to call myself...A Rain Made. We made our Rain with Range Pricing and the Realtor Friendly Realtor concept.

We found both of those concepts under a big rock. :)

I mean really. How many Realtors do you know that consider other Realtors to be customers?

What happens from here is nothing more than moving forward with what we created...

And we do that at the speed of light! :)

TLW "The Lovely Wife"...Rain Made, Well That's A Twist In The Rain...ROAR!

Ummm...I love both aspects of the business. I started out definately in rainmaker mode, but there is nothing more fun than negotiating the best deal for my clients...and I still don't mind showing homes.

Brian, very good description of the difference. Open my eyes quite a bit! Thanks for the great post!

Randy and Chris: Dealmakers still make rain. My suggestion is that you find a few "oddballs" with goofy ideas and sound rainmaking strategies to get you business for your respective markets. Don't change what you are doing for now but devote 8-10 hours a week on networking with the unconventional marketers (online?) Just be systematic and talk to the rainmakers twice a month, telling them what is happening in your respective markets.

Oddballs: I can't think of a better comment than what David Jones says five comments up. You make rain, "monitor" the efforts of the team and come back into the deal when finished for client feeback on the service offering. Then you start the marketing PROCESS all over again by mining that client for referrals.

Excellent post! As for me, I'm not a rainmaker... I'm a STORM MAKER!!! =o)

Brian - Great post

I am a dealmaker so you rainmakers call me if you have anyone looking to buy or sell in the San Francisco Bay Area

Brian - Great post - thanks for sharing.

Brian, this makes a lot of sense. Thanks for the detailed post!

Brian, thanks for helping me identify what I am! I am a dealmaker, and I often get frustrated when the "office" insists that everyone should be empahasizing being a rainmaker! I know we need to do both, but let me emphasize what I prefer!

Great post Brian! I think Im a Rainmaker ;) with a little Dealmaker sprinkled on top...

There is plenty of room in these industries for both groups to prosper...

Sounds like you read Gladwell...?

Jeff C- I don't read Gladwell but I just googled him; it sounds like I should. No doubt you are intending to make rain while parceling out the "dealmaking" portion. It will be interesting to watch your ascent.

Michael and Maryann- it's good to see that your playing to strengths; market yourselves to rainmakers and you'll be very busy.

Thanks for the comments Sean and John.

How could anyone named ChiChi not make storms? Hello to my old city, ChiChi and thanks for the comment. I have no doubt you're setting Bucks County on fire

TLW- I would have to agree that you made rain by positioning yourself as a dealmaker. Your innovation with range pricing has perpetually set up rain clouds all over poincana.

And that's what we want, correct?

That was rhetorical...Right? :) TLW...ROAR!

I think I've moved into Rainmaker mode - although I still handle all the listing appointments - all else is delegated to team members.

You'd probably really like The Tipping Point....

Brian, Not sure but I would say that I am both Rainmaker and Dealmaker...in Real Estate I would say that I am definitely a "control freak". I tried to delegate some stuff but found that it wasn't up to my specifications and quality so I decided quite sometime back that I would offer quality rather than quantity.

Would I accept referral and pay a referral fee to a person and not a predator service, YES.

But, that's me and not necessarily good for all people. I just love what I do from beginning to end and have made a lot of long term friends in the meantime.

One of the things that I did for my clients this past year is among their gifts they received a certificate for a professional photographer to meet them at their home, park etc. for photos and the photographer provided me with a 5x7 of each of my clients in a leather bound book. One of the photographer's notes to me was "your clients think of you as family" - that's the way I like it and love being part of their lives. That may not be important for a lot people but for me, it's great.

I really like what someone said about being a STORM maker, that was great (in the sense of positiveness)!

Honestly i love sales and i take pride in being referred to as a salesperson. I would have to say that i am a rainmaker. 75% of monthly business comes as a result of long term business realtionships i have established on my own.

TLW-- rhetorical, yes. It was a compliment. I have to be careful of my enigmatic ways. I think your innovation (years ago) was the rainmaking, now you have to be dealmakers.

Tony: You're almost there!

Jeff C.- I'm a voracious reader and I'm understanding (and appreciating) your methodsof marketing. I'll probably run out to B&N on the way home on your recommendation. Will blog Monday.

Gena: That's where I'm going with this whole thing. I think I know what you're talking about when you say "predatory service". My thoughts would be this...if they were licensed and delivering a good client to you...would that really matter? Idefine good client as one who is motivated and ready to sign a LA or BBA.

Eduardo Rapido!- of course you're a rainmaker

I know, you want me to pick one or the other. Nope. I like Rain Made. That's pretty much sums it up for us. Maybe Broker Bryant (my husband) will pick one. You could lucky there. :) TLW...ROAR!

TLW: No, I'll just accept the fact that you, too, are an enigma. You can be anything you want. Stephanie.

Seriously, I'm more talking about the future. I think that the "new breed" of agents (both loan and real estate) are going to have to pick which one they want to be.

Steven...See, the e word at it's finest. Okay. So you want to set an example. Gotcha. I'll go back to Florida. See ya. TLW...ROAR!

Another great thought provoking post. Rainmaker? Dealmaker? Since I do both that's a difficult question. I think if I chose one of the other I could excell at either one. The reason I don't do rainmaking exclusively is because TLW and I, decided a long time ago to work by ourselves. Even though we could have very well opened up a large RE company and dominated our market. But the responsibility of owning and running a big company just did not appeal to either of us.

Selling is what I love to do, not managing. I'm all about doing the deal. I get a rush from it whether it's a $10,000 lot or a $500,000 property. Doesn't matter. It's the thrill of negotiating a successful transaction that I thrive on. The deals I like the most are the ones that are the most difficult. I love solving problems and getting to the closing.

So in summary: I like doing deals in the rain:)

Bubba. I knew you were going to say that. :) TLW...ROAR!

Mr. and Mrs Bryant:

You guys are too much! Thanks for the fun today. I agree that you can do either, Bryant...it's just a thought for the newer, struggling people. You did your rainmaking years back. I was commenting how you did it so well that it just provides repeat customers.

-Bull the Enigma

I guess I got to give this some thought Brain. I have always been able to do both, depending on what the situation called for. I like both, both are gratifying in different way. So I will do both for as long as I can until I have to choose.

Since I have opened my own compay, I have found myself going back to the dealmaker way of things. It is a little difficult to do both at the same time when you are pretty much the only one (well a few brokers under me). I am hoping though that after today's network meeting I picked up that "right rock to look under." If it is the right one, I am going to need to do some hiring to handle the new business. Good post...

Jason,

Your shop (new and small) is the epitome of this dilemma (as was I earlier this year). You need a good technical originator that you can hand deals to. He needs to sit in your office and work your deals...OR

Hire a bunch of salespeople who have no knowledge of mortgages but are very personable. Have them beat the streets and you do the deals.

You'll figure it out. Call if you want to bounce ideas off of me; I love to hear success stories. 2007 is going to be a bonanza for exerienced mortgage brokers. There will be more money made in 2007 than 2003

hmm, I have never thought of this is these terms. I like what you have said and think that I see another group out there. I call them the golen fallers. They fall into deals with out doing anything. I see them a lot. I am not one of theem..and I am glad I am not. I like what you have said however.

Thanks,

Dave

Dave:

I make a living off of a bunch of "golen fallers". They bring the pre-qual app in, help us gather the documents, and my "geeks" close the deal

Great post. I have done both, however I like the changes happening in the industry due to technology. I am now focus on on widening my network.

Brian, I have been pondering (how's that for a geezer word) your post and trying to decide where I fit in. I really had to stop and think about what I do. I guess that is the point of your post eh? I I am still more of a deal maker, but I think in the past year I have added rainmaking by combining my interests in things like politics, economic development, etc. with my career. The network building part is a niche I like and have some prior experience being good at. I'm in my fourth year as a Realtor® now. So as of late I do more Rainmaking and now planning on expanding on that by interviewing people and blogging about it. Come to find out that for me personally unless I'm doing that I won't be as fulfilled on a long term basis. And from reading your post it helped me see even more good business sense in it . Thanks for working my brain! Great post for a psuedo. : - )

Thanks Carole. This is directed at you and Jennifer:

I have no doubt that you're a rainmaker. Your blogs suggest that you grasp big picture issues and have a command of technology. I suggest that you expand your networking across the globe...go back...go back...go back FAR into your past and build a huge database.

Talk to 20 people a day. Gain their trust and confidence. Can you "arrange" a listing agent for your friend in Houston? Can you help her find a buyer's agent in Los Angeles and a mortgage? Absolutely. Can you legally be compensated for all three functions? Absolutely.

This is where I'm going with this. Rainmakers are about building and managing relationships and working their network.

This is where I'm going with this.

Brian, (and the rest)

Sorry I missed the party on this one, but better late than never.

So many comments I was unable to read them all, but here is my take.

Me...Rainmaker who ventured off into the blue ocean.

Thanks for the post brian...good stuff.

Gosh, Robert...you are SO well positioned for rainmaking with the CPMS designation and all. Just hook up with a national lending company and get a real estate license and you can dispense advice all over. (and get paid for it)

DEC

2006

This is a great post, Brian. I'm definately a dealmaker. I guess that's why I became a virtual assistant. I can take a someone from listing presentation to close. For those of you rainmakers out there looking to free up your time to make more rain, give a virtual assistant a call. You should be out there doing what you do best, not sitting by the phone waiting for... well, anything.

Very intriguing post, Brian. From the words, I expected the rainmakers to be the complainers or those who couldn't get things done in this changing market....good thing I read farther.

It certainly is important to know your strengths and weaknesses and then tap into those to make your business as successful and expansive as possible.

Thank you for the insite. Now I am going to go out and let everyone know that I am a "dealmaker"

That you are, Patrick. Anybody who can make the shift from avowed buyer's agent to listing agent like you did is a deal maker with his pulse on the market.

(I watched him do it through my MLS on Myspace group.

I made a list today of 30 people or so I have not had close contact with in the last ten years; assuming they remember who I am, my mind is boggling with possibilities now....no jokes, just a TY.

Now, I like to hear that, Carole. I am reading The Tipping Point, at Jeff C.'s recommendation. As it turns out, I was a "connector" all along.

I'll have more good stuff to follow up this post on Monday or Tuesday

Brian,

Thanks for the advice. Actually, I am trying to add personnel to free up some time and help me stay focused.

DEC

2006

Danny: That's really great news, Congratulations! Thanks for the nice words. I'm sure you'll take the new place over the top

DEC

2006

Brian,

Well said.

Exciting, isn't it.

Bill

William J Archambault Jr

The Real Estate Investment Institute

http://www.reii.org

Hmm...I can't decide which I am. I do both, and I beleive that I am equally good at both (at least in my mind, maybe it's a control issue). You got me thinking....

Great Blog Brian. Even though I do both, I would venture to say I'm the Rainmaker. In 2007, let it rain........

Ann and Jason: I ahve no doubt that you're both "good" at both. I am a FANTASTIC dealmaker..but...I'm an ASTOUNDING rainmaker. The rain is more important. Parcel out the dealmaking and focus on rainmaking; you can always jump in and help[ if you're needed.

Control issue? Welcome to the reformed control freak's world. Alcoholics say "Let go and Let God"; originators should say let go and let the Processor.

MAR

2007

It seems that the last really hot real estate market in the U.S. is just south of the Salt Lake City (Utah) valley, specifically areas around the championship golf-course communities of The Ranches at Eagle Mountain and Saratoga Springs. Home sales and price appreciations are strong. The reasons for strong home sales seems to be a limited supply of homes and the increased migration of Californians to this area as e.g. Micron is hiring 1,000 new workers and 60% of Utah companies are planning to hire this year. Also, its expected that approx. 1 million people will move to the Wasatch front within the next 10 - 12 years.
The home appreciations are taking place because the whole Salt Lake City valley is a few years behind the national average - after the Olympics the real estate market took a dive with real estate prices beginning to recover in 2005 and the momentum is increasing.

$300k will still buy you a very nice newer home in this area, although some surrounding areas have already appreciated a lot in the last 6 - 9 months like Highland, Alpine, Cedar Hills, and even Lehi and Pleasant Grove, and also Saratoga Springs is appreciating quickly followed by The Ranches at Eagle Mountain which is still lagging behind a bit. Where else can you get million-dollar views of a lake, mountains, valley, city, canyon and hills at a bargain price?

Here are some Websites that might be interesting for researching the area:
http://scherf.com/realestate.htm
and
http://greathomesutah.com

MAY

2007

An old post, but still great advice. Thanks. I'm a deal maker.

JUL

2007

I just cannot get this post out of my head. It rattles around all day long. You and BawldGuy keep me thinking.

You and BawldGuy keep me thinking

I am so lucky to have him in my backyard, Chris. Rarely, do you connect so well with someone whose office is 6 miles from yours.

Jeff attended my Realtor Soiree last month and became an impromptu presenter along with Roberta Murphy. The synergy was nothing short of amazing. Jeff was engaging, relevant, self aware, and witty. He took it upon himself to spend an hour with a Realtor, discussing ways to connect through blogging, after I left.

...and...he never told me he did that. He just did it because he's THAT cool.

AUG

2008

Absolutely wonderful post.

I'm a loan officer and I can bring in a TON of leads, but working through deals and negotiating terms is just not my thing; I like to keep in touch with my client up until closing, but I really enjoy outside of the box marketing and trying new things.

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