What Do You Deserve as a Real Estate Agent?
Congratulations! You have passed your real estate licensing exam and are about to affiliate with a brokerage. What brokerage you pick is up to you. Maybe you value education and chose a brokerage with lots of resources, training and a mentor program. Maybe you got taken in by promises of a big split. Whatever you chose, you are most likely an independent contractor and not an employee of the brokerage. You set your own hours, pay your own taxes and are responsible for generating your own business.
Wait...what? What was that last part?
You are responsible for generating your own business. Let it sink in. That's part of being an independent contractor. Your future business depends on YOU. What are you going to do to generate leads? Will you hold open houses? Set up a farming area? Cold call For Sale By Owners and/or expired and withdrawn listings? The choice is yours.
Too many times, in every real estate office I have worked in, there will be agents who feel they deserve office leads. You'll hear statements about the fairness of how office leads are handed out. This is something that really sticks in my craw. It probably comes from a combination of my management and sales experience.
As real estate agents, we are in a sales business. Leads are golden eggs of opportunity. Those agents that have proven to their broker that they can generate, incubate and close leads are the ones that are most likely to get office leads. Sure, we are all licensed by the same entity, and in the eyes of that licensing entity, we are all equal. However, when it comes to handing off an office lead, which are fairly rare compared to the number of leads you should be generating yourself, the managing broker would be foolish to trust all the licensees in their office equally. That probably sounds harsh, but that's reality.
Managing brokers are responsible for the bottom lines in their offices. If they hand an office lead to an agent that is a consistent or top producer, the broker knows that every opportunity to turn that lead into a closed transaction will be taken. If they had it to someone who has been licensed for a decade and only closed two deals, well, the odds are not great that the lead will turn into a closed transaction.
"That's not fair. I deserve leads too." That's a statement you can hear in any office. The profile of the agent that says this is an agent that shows up to the office every week day for at least four hours, but only closes one to three deals a year. What reason does the broker have to trust you with a lead? In the words of Janet Jackson, "What have you done for (them) lately?"
Past performance is the best indicator or future results. If you feel you deserve leads and aren't getting them, what does your past performance tell the broker?
Those who get office leads are the ones that are not whining that they don't get them. Why? They are plenty busy generating their own business. Fair? Well, offices where managers are held responsible for bottom lines are not socialist environments. Every one does not get a chance at bat, or a trophy if they waste a lead. Producing agents are the ones that can continue to improve the bottom line of the office and it should not surprise any agent that they will, more times than not, get an office lead.
Baby bird agents who wait with their mouths open for mama bird to feed them are not the strongest agents in any office. If they fall out of the nest, they would starve. Managers who run offices with healthy bottom lines understand. They will give the lead to the hawk any day of the week.
Want more office leads? Prove your worth to your broker. Not sure how the hours you are spending in the office aren't resulting in more lead generation and closed business? Go to your broker and set up a business plan chock full of income producing activities. Your broker will know you are serious when you stick to that business plan and income producing activities. That is the point where you will find yourself with one of those golden office leads.