BrokerBryant.com: Real Estate is a Business. Treat it like one.

Real Estate is a Business. Treat it like one.

Broker Bryant www.CentralFloridaShortSales.com Earlier today I read a post byJoshua Pettus titled "I Quit!", "I Need a Real Job!", "I'm Broke!", and Other Things I've Said Recently  A very well written post pretty much pouring his heart out. Give it a read.

Anyway, after reading his post I dug back through my archives and dug out this article I wrote in August 2007.  My advise was good back then and I stand by it today. Maybe it'll help somebody.

First, it's important to remember that Real Estate is a business NOT a job. When you are a business owner your job is to find a way to make things happen. Chasing money is what we do. If you don't have any then your job is to find some. Hopefully it will come from closings. If not? Well here are some ways to generate cash flow.

  • Find a partner. This can be another REALTOR® that wants to team up so you can pool your resources. Or maybe a family member who is willing to back you for a small return on their investment. You can't operate a business without capital. Go find some.
  • Use an equity line or credit cards. Have faith that you are good at what you do and will be able to pay these loans back once you get rolling.
  • * Do some property management.
  • * Do BPOs.
  • *Get a part time job or jobs that leave your days open to practice real estate. I used to wait tables AND drive a taxi. At the same time.

Do whatever you need to do to get capital for your business. With out it. You will fail.

Secondly, get to work. If you are sitting at home or in the office moaning about how bad business is, you will fail. Get off your butt and get to work. Here are some things you can do that don't cost anything but time.

  • Attend every function you can at your Board of REALTORS® to network and gain knowledge.
  • Join an investment club. What better place to meet investors.
  • Utilize ActiveRain and Localism to their full potential.
  • Solicit for listings. Folks, I have on numerous occasions, given you my expired letter and suggested you use it, everyday, for every expired and withdrawn listing. How many of you have? Or is it still on your list of things to do? While you're procrastinating, I took several listings last week, that were all from my letter. And turned down several others. And I'll do the same thing this week, the next week and on and on and on.
  • Hop in your car and go visit some yard sales this weekend. People have yard sales because they are getting ready to place their home on the market. Say "hi" and give them a card. And if you see any FSBOs working in the yard while you are out, stop and strike up a conversation.
  • Visit a few Human Resources departments in your area. See if they will let you hold a Buyer's seminar. Do the same at the library and the community center.
  • Go view the listings in your market area. Leave your card.

Folks, my point is GET BUSY!! Activity creates opportunity. Get into your community and start striking up conversations, passing out cards, passing out flyers and anything else you can think of. Go stand in front of the grocery store and say "hi" to everyone that walks by. Go to the self service gas station and pump gas for others with a big smile on your face and a card in your hand. I've personally done ALL of these things.

So there you have it. A few simple and free things you can do to generate business and cash flow. They aren't difficult. It's just requires attitude and motivation. Success is a decision. Failure is a lack of forward movement. It's your choice. So what's your decision? Are you going to turn your "to do" list into a "job completed" list?

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 Tutas Towne Realty, Inc handles Florida real estate sales, Florida short sales, Florida strategic short sales, Florida pre-foreclosure sales, Florida foreclosures in Kissimmee Florida Short Sales, Davenport Florida Short Sales, Haines City Florida Short Sales, Poinciana Florida Short Sales, Solivita Florida Short Sales,  Orlando Florida Short Sales, Celebration Florida Short Sales, Windermere Florida Short Sales. Serving all of Polk, Osceola and Orange Counties Florida. Florida Short Sale Broker. Short Sale Florida.

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Comment balloon 114 commentsBryant Tutas • April 08 2010 04:58PM

Comments

Reserved for TLWch

Posted by Bryant Tutas, Selling Florida one home at a time (Tutas Towne Realty, Inc and Garden Views Realty, LLC) about 9 years ago

Great advice Bryant. We are masters of our own destiny in this business, that is for sure. There is plenty of business out there to go around, even in this market. I will check out your expired letter and hope to get even more business coming my way! Thanks!

Posted by Stephanie Reynolds, East County San Diego Homes 619-838-4408 (Integrity First Financial Group, Inc. ) about 9 years ago

good post....good reminders

I am learning that business skilld are real important as a realtor.

The freedom and flexibilty is great...but if you dont dont focus on the building wealth part then the freedom and flexibility are gone.

 

Posted by Brian Kelly (Keller Williams Keystone Realty) about 9 years ago

Brian-

Busy is best. Busy is business. Business is busy........ness!

Posted by Jim Hale, Eugene Oregon's Best Home Search Website (ACTIONAGENTS.NET) about 9 years ago

Big Boy, I mean BB, great post, the HR suggestion has been rarely or almost never mentioned here on AR but it's an excellent one.  I tried visualizing you as De Niro, in Taxi Driver.  Scary!  

Posted by Kevin J. May, Serving the Treasure & Paradise Coasts of Florida (Florida Supreme Realty) about 9 years ago

 

Great info Bryant as always!  Especially the partnering.  Oh and it's true about the yard sales!!

I felt bad for him, because sometimes when you are stressed with FEAR of what is happening or what could happen you become paralyzed. His post was definitely a cry for help. Hopefully he will see this and it will help.

WOW!  Pumping gas and giving them a card...I just love that hustle gene!

Posted by Andi Grant, Helping 1st time buyers and home sellers in LA! (310-508-4354 | FirstTimeHomeBuyerRealEstate.com) about 9 years ago

Great points. We are in the business to create business. I don't want a job but this business is tough. Time to get more busy. More is better

Posted by Claude Cross, Charlotte NC Homes For Sale (Homes By Cross, Inc. ) about 9 years ago

Broker Bryant, I still remember a few years back when you called me and gave me some great advice over the phone.  I will always be grateful.  This post is filled with great advice for anyone struggling, or just needing to reposition themselves.  Thanks for always being so generous.

Posted by Maggie Dokic | Miami, FL | 305.81.HOUSE (46873), GREEN, CDPE, SFR, Pinecrest | Palmetto Bay | (eXp Realty LLC) about 9 years ago

Great, Bryant!!   You are always so awesome!   Those are all great suggestions .... - did you really stand there and pump gas and hand out your card?

Posted by Dagny Eason, Fairfield County CT, CDPE Homes For Sale and Condo (Dagny's Real Estate) about 9 years ago

And if Lenn offers you an opportunity to manage a team to sell her referrals, take it. 

GEEZ.  I can't believe that an agent who has little to no business would turn down an opportunity to have instant business to get an office.

Oh Well.

 

Posted by Lenn Harley, Real Estate Broker - Virginia & Maryland (Lenn Harley, Homefinders.com, MD & VA Homes and Real Estate) about 9 years ago

As Usual, you are helping and motivating.  Expired Letters landed me another listing this week and 2 appointments next week.  They are cheap, easy and effective. 

Posted by Michael J. Gallo, Florida Luxury Realty - Gulf Home Sales Team (Florida Luxury Realty) about 9 years ago

This is one of the reasons I've done the flat fee MLS listings.  To have some regular cash flow.  I do minimal advertising for these anymore except occasionally on the internet and yet still make probably $1500-$3000 every month for doing them.  When the market changes you need to shift with it.  With the market being mostly foreclosures, you need to be working on income producing methods that involve those. 

Also started getting back into wholesaling.  If you know a few investors, it is pretty easy to find deals, tie them up, and wholesale them to investors. 

Posted by Rob Arnold, Metro Orlando Full Service - Investor Friendly & F (Sand Dollar Realty Group, Inc.) about 9 years ago

Great idea about the garage sale... either that of they need money to pay the mortgage. I am hungry for a Bob's Big Boy Hamburger right now (it's dinner time, sorry).

Posted by Melissa Zavala, Broker, Escondido Real Estate, San Diego County (Broadpoint Properties) about 9 years ago

BB, all great advice, I hope you emailed him. I read the post today myself. I know it is all up to me, and we all need to do what needs to be done.

I think you waited on me before..... I recognize you from the picture...

And what is Lenn talking about? Who in their right mind would ever turn Lenn Harley down for a real estate opportunity?

Posted by Andrea Swiedler, Realtor, Southern Litchfield County CT (Berkshire Hathaway HomeServices New England Properties) about 9 years ago

Hi Bryant ~ Your post sent me over to Joshua's and I just finished reading every comment (I am nothing if not thorough) -  yikes! That post struck a nerve.

Excellent advice in your comment there and in this post. I've been watching several newbies in my office.  Only one of them shows up on a regular basis and that's the agent of the bunch that I predict will survive.  IMO if you don't show up it's just not going to happen for you. You gotta work it, you gotta be there.

LIz

Posted by Elizabeth Bolton, Cambridge MA Realtor (RE/MAX Destiny Real Estate Cambridge, MA) about 9 years ago

Folks, my point is GET BUSY!! Activity creates opportunity. That sums it up in a nutshell.

I had a manager when I first started in the business put a can of STP, for you youngsters it's an oil additive, on all the desks and told us it stands for See The People. Still works.

Posted by Cameron Wilson, The Short Guy - Murrieta,Temecula,Menifee Californ (Labrum Real Estate) about 9 years ago

Bryant,

This is excellent!

I do take issue with: "Get a FREE website or start a FREE network." Get your own domain!!!!!!!!

Look professional don't use a free e-mail use one through your personalized domain.

Don't tie you futureto a free site or your employer! If for any reason you leave with your broker everything you've done to promote yourself is gone if you lose your e-mail, or cell number. You can always link your ULR to any other site.

Bill

Posted by William J. Archambault, Jr. (The Real Estate Investment Institute ) about 9 years ago

Bryant...I consider it a good day when I can actually load your post.  Today is one of those days.
          thanks for re posting this for those of us not here in 2007.
         You make a delightful Big Boy, too.

Posted by Barb & Sal Dragotta, Macomb County Michigan about 9 years ago

Bryant - I must visit that post.  "Chasing money is what we do."  Yup, the life of every hustler that makes their mint on the last sale.  In one regard, I consider it the only legitamate way to make money.  On the other, selling anything is a dangerous proposition.  Then again, I'm pretty confident that I'd rather have me selling that something than anyone else.  At least then, I know, that this hustler will take care of his clients ... and the sources that refer them to me. 

Posted by Jason Sardi, Your Agent for Life (Auto & Home & Life Insurance throughout North Carolina) about 9 years ago

Hi Bryant... you are absolutely correct.  These are great suggestions.

If we are not doing what we can to get through our career challenges success will always elude us!

Posted by Steve Shatsky about 9 years ago

Tutas,
that's a great way to start something different, ooh btw, you were so busy the other day that I did not receive any comment or thought about it, but I received something good to share later on in the short sale super stars :)

Posted by Ray Saenz, Homes for Sale in Laredo, TX - Texas, Realtor (Exit Realty Laredo) about 9 years ago

Tons of great advise and NO, it's certainly not a JOB.

Posted by Tammy Lankford,, Broker GA Lake Sinclair/Eatonton/Milledgeville (Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668) about 9 years ago

I was sending out expired letters after reading your earlier post, BB, and then stopped. Time to put that stoke back in the fire. Thanks for the great ideas again. -- Tanya in Montreal

Posted by Tanya Nouwens, Montreal Real Estate Broker & Stager (RE/MAX ROYAL (JORDAN) INC. / Tanya Nouwens Inc. www.readysetsold.ca) about 9 years ago

But I think that was his wall Bryant. .he was busy and nothing was being generated . . 

He needed  some guidance.

Posted by Fernando Herboso - Broker for Maxus Realty Group, 301-246-0001 Serving Maryland, DC and Northern VA (Maxus Realty Group - Broker 301-246-0001) about 9 years ago

Hi Bryant, Good advice. We always find that when we get energized and start calling our database, things magically start to happen.  ~Lisa

Posted by The Scott Loper Team Bux-Mont Premier Properties (Keller Williams Real Estate - Montgomeryville) about 9 years ago

Love it...Real Estate is a business...not a job.

Glad you revived this one, some folks need to get busy and change their thinking.

Posted by Missy Caulk, Savvy Realtor - Ann Arbor Real Estate (Missy Caulk TEAM) about 9 years ago

BB...I love the phrase..."activity creates opportunity"

Posted by Lori Churchill Cofer, Realtor - 509-330-0086 - Pullman, WA (Beasley Realty) about 9 years ago

Bryant - one of my favourite "social" prospecting activities is the local garage sales ..... nearly every Saturday morning through the entire garage sale season we jump in the car and hit every one we can find in our area.

Posted by Kathy Clulow, Trusted For Experience - Respected For Results (RE/MAX All-Stars Realty Inc. Brokerage) about 9 years ago

Sold advice Bryant.  I'm totally onboard with it.  Do what you gotta do if you really want it to work.

Posted by Charita Cadenhead, Serving Jefferson and Shelby Counties (Alabama) (Keller Williams Realty) about 9 years ago

Love it  !Way to go right on the mark ! Now back to what Im suppose to be doing  :)

Posted by Lillian Nolloth (Howard Hanna Real Estate Services) about 9 years ago

Bryant, I see a lot of agents looking at their phone waiting for someone to call them rather than going out and getting the business.  I go and get!

Posted by Damon Gettier, Broker/Owner ABRM, GRI, CDPE (Damon Gettier & Associates, REALTORS- Roanoke Va Short Sale Expert) about 9 years ago

FANTASTIC advice ... !!!! getting to work right now!  pippa

Posted by Pippa Mac, The Woodlands TX Real Estate (Chevaux Group Realtor, The Woodlands and Spring) about 9 years ago

BB...

I agree in principle, but this is the toughest market that I have ever experienced. We spend more time on "done deals" than anyone could ever imagine.

Even the best trained and formerly successful business operators are losing ground. Ethics have gone out the window, and real estate commissions are sitting on their hands.

It's frustrating.

Posted by Richard Weisser, Richard Weisser Retired Real Estate Professional (Richard Weisser Realty) about 9 years ago

Good motivational post. Some of the best advice I have ever received was, "The harder I work, the luckier I get." I would discourage people from using credit or taking advances, as debt never really helps people get rich and usually only puts them into a deeper hole with more stress. I whole-heartedly agree that having some other source of revenue is paramount in times like these if you are new to the business. I find most of the people I list property for are diversified and think it is a good idea for their agent to be too. They still want you to be in the business next month. As Dave Ramsey says, "The best place to go when you need money is to work".

Posted by Jonathan Goode (AlaLandCo (Land for Sale in West Alabama)) about 9 years ago

Good post.

It's one of the reasons my partner and I have consistently finished in the Top 10 for over 5 years.

Posted by Ralph Gorgoglione, Hawaii and California Real Estate (800) 591-6121 (Maui Life Homes / Metro Life Homes) about 9 years ago

Bryant - I think this post should be bookmarked by all because we will all need the kick reminder at one time or another!  Real estate is not easy and it's easy to quit.  I would hesitate to go into debt in any business because it easily becomes a hole too deep to climb out of.  Thanks for the great advice.

Posted by Irene Tron about 9 years ago

Great post. Its so important to focus most on the 20% (lead generation) that brings in the money and not the 80% that keeps us busy.

Posted by Betty Knowles, TeamKnowles REALTORS® - Springfield MO Real Estate (Southwest Missouri Realty - www.teamknowles.com) about 9 years ago

Bryant,

Get Busy,,,, it creates opportunity is a great quote. And, it's true.

Brian

Posted by Brian Madigan, LL.B., Broker (RE/MAX West Realty Inc., Brokerage (Toronto)) about 9 years ago

Bryant - you are correct, and it is a business and our job to make things happen. And we do what we have to do to make things happen.

Posted by Sharon Paxson, Newport Beach Real Estate (Compass) about 9 years ago

Great ideas.  All very relevant (except the BPO bit -- we're not allowed to do that in Pennsylvania unless we have an appraiser's license).

Posted by Richard Strahm, Lansdale and North Penn Real Estate (American Foursquare Realty) about 9 years ago

When I first started in this business i was told one thing-you must be active to get business. Busy sending our short sale letters as I write this, a new venture for me but the first batch last week created a call. Ther listing is already in the bag. Busy putting on a short sale display at my bank-that takes me week to put it all together but it's free, yes free. I love this post but fear maybe all the wrong people are reading it!. LOL.

Posted by Corinne Guest, Barrington Lifestyles (Corinne Guest, Realtor | Barrington Realty Company) about 9 years ago

Great post, and it fits into my mantra is that there is always a market. In every period someone buying and someone is selling. It is up to us to get that inner bloodhound working and sniff out game.

Posted by Joe Pryor, REALTOR® - Oklahoma Investment Properties (The Virtual Real Estate Team) about 9 years ago

Thanks for the gentle shove. What follow up (to that particular expired letter) do you do?

Posted by Pat, Ben and Martin Mullikin (M3 Realty) about 9 years ago

Wow, The Yard Sale never even occurred to me! If I can find time in between Facebook and Active Rain! I know I can blog about yard sales in localism! ~Laughing~

Posted by Mark Gridley, TecKnow Real Estate Agent, Fountain Hills, AZ (eXp Realty, Reinventing the National Real Estate Office!) about 9 years ago

Yes, we are the boss. No undercover boss is going to show up and surprise us. Making it happen is belief in yourself and hard work. Long hours and no days off. But it pays off.

Posted by Glenn Roberts (Retired) about 9 years ago

Bryant.. I couldn't agree with you more.  This *IS* a business NOT a job.  I'm in this career for the long haul.. Another thought.  When the going gets tough.. the tough get going.  There is never a day when I don't eat, drink or talk real estate.

valerie osterhoudt

Posted by Valerie Osterhoudt, ABR, Cromwell, CT Real Estate ~ 860.883.8889 (Johnson Real Estate, Inc.) about 9 years ago

Bryant:

Well conceived post with great information and good advice. Managing cash flow is the single most important part of owning a business.

Posted by Aaron Vaughn | Builder | Investor, If the deal makes sense, the cash will follow. (Conifer Homes) about 9 years ago

I think what BB meant when he said get a free website, was to get a website period!!!  If you don't have one, a free one is better than nothing!

Posted by Home Design, Home Design and Real Estate about 9 years ago

Hi BB,  The advice is as good today as when first posted !  The point is that agents must get in front of people and make something happen !

Posted by Bill Gillhespy, Fort Myers Beach Realtor, Fort Myers Beach Agent - Homes & Condos (16 Sunview Blvd) about 9 years ago

Right on, BB, as usual.  I have a part-time gig teaching dance.  Just 4 classes per week but it covers all of my real estate dues and fees, plus it's a great way to meet other residents in town (leads).  Plus, it's just plain fun, and the giggles from the kids are a great stress reliever.  Plus, I've learned that motivating adults is quite similar to motivating kids.  (Hugs and kisses go a long way.)  Plus it keeps me moving.  Plus...well the benefits are many.  Thanks for letting me share!

Posted by Kathryn Acciari, Brand Ambassador and Business Coach (Century 21 Real Estate) about 9 years ago

I have a lot of associates in my office that I will be sharing this with.......and it lit a fire under my butt too.

Posted by Ann Allen Hoover, CDPE SRES ASP e-PRO Realtor - Homes for Sale - AL (RE/MAX Advantage South) about 9 years ago

Thanks for another great post...

All the best!

Posted by Kevin O'Shea, White Plains, NY Real Estate (Coldwell Banker) about 9 years ago

You made great points, starting with "it's a business, not a job" Fear is paralyzing, but once one starts doing, it becomes easier and easier.

Posted by Lottie Kendall, Helping make your real estate dreams a reality (Compass) about 9 years ago

Thanks for the inspiration, brother! I'm just getting back into sales full time!

Posted by Nogui Aramburo, Real Estate Professional in the Raleigh Area (Linda Craft & Team, REALTORS®) about 9 years ago

Great advise. Real estate is a business and you have to work hard for it. When you own your own business, you do work harder. Love your advise about working part time waiting table and being a cab driver. Some people just don't realize that it is a business and you are responsbile for your own success.

Posted by Mike Yeo (3:16 team REALTY) about 9 years ago

Bryant - Great advice! All the activities can easily be implemented.

BTW: Thanks for starting Short Sale Superstars, great group with tons of information. Love being a part of it!

Posted by Maria Mastrolonardo, Realtor, Naperville, IL Real Estate (RE/MAX of Naperville) about 9 years ago

Your Short Sale Superstar is an example of quite a few of your points: teaming up, getting motivated, doing something outside the box.  Live by example!!

Posted by Carla Muss-Jacobs, RETIRED (RETIRED / State License is Inactive) about 9 years ago

Brian, you certainly hit the nail on the head that Real Estate is a business NOT a job.  That is what I wrote in my first or second line of my comment yesterday with regard to the post you linked.  You are absolutely correct.  You need to generate the business, find the money and do what you need to in between.  Sales or being a business owner is not in the cards for everyone and so be it that's just the way it is. 

Thanks for this post.  Great advice and definitely a bookmarker to refer to when business gets you down!

Posted by Gina Chirico, Real Estate Agent - Essex County, New Jersey (Lattimer Realty) about 9 years ago

great tips! i have several agents that i am going to share this with!

Posted by Billy Studstill, First Time Home Buyers, Foreclosure, Luxury (Victory Realty, first time home buyer, foreclosure ) about 9 years ago

Brian,

It sure is a business and not a job.   Each person is responsible for themselves and the efforts placed into the business will determine the success of the business!  Great post.

Posted by Stephanie Stringer, Mortgage Loan Originator (First Choice Loan Services NMLS#210764) about 9 years ago

Hi folks. I keep trying to get back here but proxy errors and bad gateways and driving me crazy!!!! I am reading all of your comments through my email though. So thank you so much for participating.

I hope this post has helped at least one person today.

Real estate is a hard business and always has been. You MUST get up every day and go to work. Then when you get there have a plan and work it. Stay away from the water cooler!!!

And remember...organizing files is NOT work. Making a To Do list is NOT work. Touring model homes and open houses is NOT work.

Work is stuff that makes us money. Following up with leads IS work. Doing a listing presentation IS work. Showing properties to a QUALIFIED buyer that needs to buy a house today IS work.

Work smart. Do the things that will get you paid...first.

Posted by Bryant Tutas, Selling Florida one home at a time (Tutas Towne Realty, Inc and Garden Views Realty, LLC) about 9 years ago

Such a good post!!  This is definitely a business and the only one to succeed is to actually work!  Since we don't have a "boss" telling us what time we must start work and end for the day, it is so necessary to find the self-discipline to set some sort of schedule of time that is committed to prospecting etc.  Pretty hard to avoid failure for those who show up at 11, visit around the office, go home about 2 and then wonder why they just don't seem to get any business...

Posted by Nancy Conner, Olympia/Thurston County WA about 9 years ago

Such a good post!!  This is definitely a business and the only one to succeed is to actually work!  Since we don't have a "boss" telling us what time we must start work and end for the day, it is so necessary to find the self-discipline to set some sort of schedule of time that is committed to prospecting etc.  Pretty hard to avoid failure for those who show up at 11, visit around the office, go home about 2 and then wonder why they just don't seem to get any business...

Posted by Nancy Conner, Olympia/Thurston County WA about 9 years ago

Great tips, but I agree with Richard (#33) that it's tougher than nails out there and being busy doesn't necessarily produce closings.

Posted by Pam Turner, REALTOR®, e-PRO®, SFR (Century 21 Belk Realtors Dalton GA) about 9 years ago

Bryant, well said.  But the truth is we can't really blame agents.  I blame the broker that brought them into real estate.  With what ever promise was made...  As you said the truth is it is a business.  And unless it's run like one chances for survival are slim.  Good advice in 07 and even better advice today!

Posted by Lee & Pamela St. Peter, Making Connections to Success in Real Estate (Berkshire Hathaway HomeServices YSU Realty: (919) 645-2522) about 9 years ago

I bartended until things got off the ground. A little humbling for a college graduate, perhaps, but all work is honorable. 

Posted by J. Philip Faranda, Broker-Owner (J. Philip Faranda (J. Philip R.E. LLC) Westchester County NY) about 9 years ago

Hi Broker Bryant~  I think I am going to try your letter and see what happens!  Thanks for sharing it!

Posted by Vickie McCartney, Broker, Real Estate Agent Owensboro KY (Maverick Realty) about 9 years ago

 Wait tables and drive a taxi at the same time. now thats some serious specialization. Only pick up fares that that are going to your restaurant.

Thanks for the reminder and the link to your expired letter. it has been on my to do list for a long time

Posted by Ron Parise (LocateHomes.com) about 9 years ago

I have to agree with Richard Weiser's comment above.  It is the worst market I've experienced at a Realtor in 22 years. I'm not the only one who's pocketbook is pressed thin, even as an experienced Realtor. With that said, it's good to think positive and stay busy doing things that might.....might bring in some business in any market...

Patricia/Seacoast NH

Posted by Patricia Aulson, Realtor - Portsmouth NH Homes-Hampton NH Homes (BERKSHIRE HATHAWAY HOME SERVICES Verani Realty NH Real Estate ) about 9 years ago

Great post. Hard work pays off.

Posted by steve vennemann about 9 years ago

Hey, Bryant...like all your ideas.  I was doing the expired thing for a while and then put it aside because I had too many things going on.  I need to do that no matter what.  Thanks for the reminder.

Posted by Barbara Altieri, REALTOR-Fairfield County CT Homes/Condos For Sale (RealtyQuest/Kinard Realty Group, Fairfield and New Haven County CT Real Estate) about 9 years ago

Bryant great post.

Another venture some agents may want to consider is lease homes.  I know you mentioned property management, but for agents who do not have the knowledge or capacity to perform property management services, they could consider being on the other end of the business and locate the lease homes for newly foreclosed tenants.

This market is harsh! People are experiencing foreclosures, short sales, job lay-offs, etc; and they are having to give up their homes.  These same people need somewhere to go after this horrible experience and nine times out of ten, they don't want to go to an apartment.

Lease homes are the wave of today's real estate market.  Last month I put four tenants into lease homes and made enough money from these transactions to take my brokerage exam, pay all of my brokerage fees and to order new signs for my new brokerage.

It's quick money.  You don't have to wait 45 days for a closing or worry about people not qualifying for a loan.  What baffles me is that people actually have the required amount of cash to put down for first and last month's rent....sometimes that's at least $4000.

Just my thoughts.

P.S.  I will be trying your expired letter now that I'm up and out and own my own.

Posted by MeLisa Minter, Realtor, Taylor Lake Village Real Estate Broker (RE/MAX Space Center) about 9 years ago

Bryant, you are helpful as always, and not just to your intended audience.

Gotta get to my expired letters now...thanks for the reminder about that.

Posted by William James Walton Sr., Greater Waterbury Real Estate (WEICHERT, REALTORS® - Briotti Group) about 9 years ago

Bryant,  Great stuff, can't believe how many agents fail to see this business as a business and not a job!  Hell yeah it gets frustrating...All great endeavors do!

Posted by John Howard, GRI, Mountain Home, Arkansas 870-404-3614 (Century 21 LeMac Realty) about 9 years ago

BB you always know when to give some encouragement. Real estate should be treated as a business; and yes we are dealing with a challeging market which will mean more effort will be required to close deals. 

Posted by Jennifer Fivelsdal, Mid Hudson Valley real estate connection ( JFIVE Home Realty LLC | 845-758-6842|162 Deer Run Rd Red Hook NY 12571) about 9 years ago

I never thought I could work with a partner, but that's exactly what I'm doing now. I did an overhaul on my business plan in December. Of course, a big party of my problem is my constant battle with Fibromyalgia and Chronic Fatigue, but I also have some unique skills that I knew another agent would appreciate. I may be in pain, but I don't quit that easily.

Posted by Lisa Hill, Daytona Beach Real Estate (Florida Property Experts) about 9 years ago

That was a really good post, im going to re-read and follow it everyday for motivation!

Posted by Delaware Junk Removal Residential And Commercial Hauling Clean Outs, Whole House Clean Outs, Basements, Garages, Attics (Delaware Junk Removal 302-530-9186) about 9 years ago

Thanks Bryant, we all need a little kick in the butt once in a while! Thanks for delivering!

Posted by Joe Cuchiara (Higher Ground Real Estate) about 9 years ago

Love this post Bryant, real world advice with no BS!

 

Michael

Posted by Michael Cantwell (Envoy Mortgage - NMLSR ID #644428) about 9 years ago

Great tips - people have to want it bad and if so will get their business off the ground!!!

Posted by Betsy Schuman Dodek, SearchPotomacHomes.com (Washington Fine Properties - Washington DC Area Real Estate) about 9 years ago

Bryant, very good point about real estate being a business. Businesses that don't make a profit don't last long. Good tips for getting motivated. Thanks.

Posted by Michael Setunsky, Your Commercial Real Estate Link to Northern VA about 9 years ago

BB - the # of contacts we make = the # of contracts we'll write !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Posted by Michael J. Perry, Lancaster, PA Relo Specialist (KW Elite ) about 9 years ago

Bryant, I agree it's all about treating real estate as your business! When things are good everyone is in "the business". When things are tough only the strong survive by remembering to focus on the prize and working everyday like your life depends upon it.

Posted by Sheila Anderson, The Real Estate Whisperer Who Listens 732-715-1133 (Referral Group Incorporated) about 9 years ago

Bryant, what you are implying here is that people have to work... I mean really??? Are you serious?

I once had a coach trying to get my business ask me if I had 4 lead generation programs (I tend to hover around a dozen)... So I hung up on the guy, that is not what I need to grow my business. But seriously, some people really do. 

If I was going to add one thing to this, I would say to track the daily activities, I have set time for stuff like following up with your guys, calling expireds, sending letters, door knocking, you name it. 

 

Make a plan, then work the plan instead of the random running around in a circle. 

Posted by Terkel Sørensen, Realtor, 951.805.0773 , Bank owned and Short Sales (Real Estate Places) about 9 years ago

Very good advise.  When I decided to get into the business I made sure I had a ton of cash since I knew it was going to cost me money for a while and that the first commission check could take many months.  My first year was challenging but I was able to finally make enough to cover all cost that year.  I did need to use my reserves for the first part of the year.  People need to really know what's involved before signing the dotted line.

It will cost you money to get started because this is a business and not a job.

Posted by Frank Castaldini, Realtor - Homes for Sale in San Francisco (Compass) about 9 years ago

There are so many that don't know what to do or are always saying I am going to do that and then never do. Your expired letter alone should be enough to get someone started!

Posted by Bill Gassett, Metrowest Massachusetts Real Estate (RE/MAX Executive Realty) about 9 years ago

I read that same post....and my heart went out to him. Your post (or repost) is fantastic! Great advice and as always....easy to understand. Love the picture too.

Posted by Karen Fiddler, Broker/Owner, Orange County & Lake Arrowhead, CA (949)510-2395 (Karen Parsons-Fiddler, Broker 949-510-2395) about 9 years ago

Outstanding blog!  Although real estate is augmented by technology, it is still a "touch" business.  One still has to get out and touch people.  The ideas you put forth are timeless and priceless, and will never change.  It is up to us as small business owners to make things happen.  People seldom beat a path to a door they don't even know exists.   One has to go out and show them the door, repeatedly.  Then, they will come! 

Posted by Chuck Gollay (Exit Realty Paramount) about 9 years ago

Bryant,

I think you make some very good points, especially about it being a business, not a job.  Never the Less there is a struggle.  I have been up and down a number of times in my life.  However, (and it is my choice so I am not blaming anyone) I now find myself with a huge family and it is hard to swim through rough waters with a wife and 6 kids.  Many men would give up, I have not.  If I go back to my old career I am an over priced has been replaced by young dumb kids out of college.  The jobs that seem to be available pay so little they do not pay to take.

You are right about a lot of things, just have some sympathy.  I did not have a lot of sympathy, now I walk in the shoes.  I will make it, it is just very tough right now.

What I heard in that post is because it is a business and not a job he did not know when to give it up.  With a job you are either doing it or not, getting paid or not.  With real estate it is more ambiguous and he did not know which direction to go.  He has one foot on the dock and the other on the boat.

Posted by Gene Riemenschneider, Turning Houses into Homes (Home Point Real Estate) about 9 years ago
Bryant, Spoken like a true professional. Great post. Loved reading it.
Posted by Darren James (Darren James Real Estate Experts, LLC) about 9 years ago

Hi Bryant,  I'm glad you felt inspired to chime in from my blog the other day.  Looks like I've started quite the conversation, and its one that has been a long time coming.  Lots of agents are facing the same decisions and situations that I have been facing, and I think that its time a lot of us started taking action one way or another instead of sitting on the fence. 

There are basically three routes that we can go:

  1. Stay in the business full time, work your friggin' butt off, and pray money starts coming in.
  2. Stay in business, but take a full/part time job to pay the bills at home.
  3. Get out and find other work.

I think they're all good options depending on where you are at in life and in business.  I'm still undecided on where I'm going to go right now.  As you can see from the comments on my post, I've received a TON of great advice.  I'm going to sit down sometime soon and compile the best advice together into one blog so that others facing the same decision can have something to reference. 

You've got some great advice.  The only thing I'm not sure I would do is take on added debt right now.  Wise debt use is ok as long as money is coming in to pay it off, but with a real estate income as sparse as mine is right now, I'm not so sure this would be a wise move.  Dave Ramsey has taught me better than that.  I already have enough debt to pay off as it is, and I certainly don't want anymore. 

If I do decide to stay, I've learned enough now to know a lot of things I've got to do.  If I go get a part time job, I have a few ideas on jobs that would compliment my real estate work.  If I decide to quit real estate, I have no shame in knowing that I'll be doing what is best for my family.  Whatever I decide, I'll be going forward with a knew sense of dedication knowing I have hundreds of ActiveRain-ers out there backing me.

In the end, I will do what is best for my family.  I have to feed, clothe, and provide shelter for my small family one way or another.  You guys here on ActiveRain have given me knowledge, confidence, ideas, and courage to do what it takes.  I owe you all a huge debt of gratitude!

Joshua Pettus

Posted by Joshua Pettus, Realtor, Florence, Alabama Real Estate (Home Grown Real Estate - Buy Sell Remodel Build) about 9 years ago

Great Upbeat post!

Posted by Ben Yost - 303-587-4297, FHA, VA, Conventional - Mortgage Loans in De (First Time Home Buyer, Mortgage Rates, Pre-Approval) about 9 years ago

great Post and well said...the human resource idea is great... and sales people always have to ask for the business and then be able to close... some realtors just do not get it... they are a business within a business and need to act accordingly

Posted by Debra Leisek ( Bay Realty,Inc Homer Alaska) about 9 years ago

Great thoughts Bryant. Focused, disciplined activity following a plan produces results...

Posted by Gary Woltal, Assoc. Broker Realtor SFR Dallas Ft. Worth (Keller Williams Realty) about 9 years ago

Another Fantastic post. 

Posted by Don Groff, Realtor (Austin Real Estate Pros - 512.669.5599) about 9 years ago

So true Bryant - great reminder for folks.  And in managing their cash flow, every business needs to have a plan.  The more real estate professional businesses out there, the better the real estate business will be! 

Posted by Michael Goodheim, Cash Flow Expert for Real Estate Pros (Commission Express of Western Washington) about 9 years ago

Bryant-  Thanks for the subtle nudge to get my a## in gear!!!  Always sound advice!!

Posted by Duane Murphy, Broker- Owner-Real Estate - (Expert Real Estate Partners LLC) about 9 years ago

Gene, I hear ya man. 2008 was a brutal year for me. I didn't teally get back in the groove until about half way through 2009. This post was all about giving some low cost ideas that work and a little kick in the butt for some that need it. Hang in there if you can. But with 6 kids you must do what needs to be done to generate steady income.

Joshua, Thanks for stopping by. There is no shame in not making a go with real estate. This is a very diifcuult time to be in this business. If you give it your best shot and it doesn't work out then so be it. Doing what's best for your family should always be your top priority. We are not defined by what we do for a living.

I truly wish you good fortune in whatever endeavor you take. If you decide to stay in the business and want to learn short sales then pop me an email at brokerbryant@gmail.com and Wendy and I will give you our 8 hour Agent Short Sale Training Webinar as a gift. All I ask is that you use it and do not give it away.

Posted by Bryant Tutas, Selling Florida one home at a time (Tutas Towne Realty, Inc and Garden Views Realty, LLC) about 9 years ago

Bryant, your advice was good then and still good now.  I've seen many agents struggling to make ends meet, and in a commission based business it's tough for everyone during the lean times.  Hard work, attitude, education, preparation, and just a little bit of luck, in the right amounts are what's needed to thrive and survive.

Posted by Brian Block, Northern Virginia & D.C. Real Estate (RE/MAX Allegiance, Managing Broker/Branch Vice President) about 9 years ago

Hey BB, I missed the expireds letter first time around so I think that I will appropriate it now.  I liked your advice.  Like Joshua's comment #94, I would rather not take on additional debt right now. 

Posted by Margaret Mitchell, Seacoast Maine & NH Real Estate (Coldwell Banker Yorke Realty) about 9 years ago

I tell Realtors all of the time they are a business.  Very good post.

Posted by Aaron Silverman, Improving Real Estate Experience through Education (SuccessfulRental.com, Bluewater Property Management, LLC and Lowcountry Turnkey Properties, LLC) about 9 years ago

This is a wonderful motivational article for the agents that keep saying "I QUIT!"  I'm going back to read the expired letter. 

Posted by Kay Van Kampen, Realtor®, Springfield Mo Real Estate (RE/MAX Broker, RE/MAX) about 9 years ago

Thanks for the reblog!

Attention: Seller download our ebook on how to sell your home for a profit!

Posted by Fred Sweezer Sr., Certified Home Inspector (Hud Certified 203K Consultant) about 9 years ago

Thanks for the reblog!

Attention: Seller download our ebook on how to sell your home for a profit!

Posted by Fred Sweezer Sr., Certified Home Inspector (Hud Certified 203K Consultant) about 9 years ago

Great post!  I am a new agent and always looking for new things to do when "I don't have anything to do today..." hits me.  I'm bookmarking this and will referr to it when I have one of those whats next days....

Posted by Lori Liveston (Virtual Homes, Real Estate) about 9 years ago

Bryant:

There are some people who could drop into a city a 1000 miles away and I bet they could start earning money in real estate in less than a month.

Get out there and work, do something, anything but get out there and not for 3 hours, 6 hours, 8 hours, stay out there untill you get action.

Ty

Posted by Ty Lacroix (Envelope Real Estate Brokerage Inc) about 9 years ago

My BIC always says he loves an empty office because an empty office means agents are working. 

Posted by Linda Lohman, Former Teacher/Broker (Fonville Morisey Realty) about 9 years ago

I like to think of real estate as a career, not a 9-5 job and not a sole-proprietorship.  Agents have joint venture partners like the broker, the franchise (if applicable), lenders, attorneys, bankers, other realtors, etc.  But having a career, is one thing.  You've also got to manage your career.  Attend coaching classes with your broker, attend community events to meet new prospective clients, hand out 10 business cards a day.  In sum, take responsibiilty for your success.  If you can't put 125% into it, get out.  Someone else will quickly fill in.  Trust me.

Posted by Martin Kalisker, Professional Standards & Legal Assistant (Greater Boston Association of REALTORS) about 9 years ago

Some people do forget that it is a business, and not just a show...  Some think that the business is going to drop in their laps.  Great stuff!

Posted by Chris Alston, Silicon Valley, California (Chris Alston (Keller Williams Realty, Silicon Valley, California)) about 9 years ago

Bryant - Great advice.  There is no excuse for sitting there in a funk.  Plenty of options- it is all up to you!

Posted by Wendy Rulnick, "It's Wendy... It's Sold!" (Rulnick Realty, Inc.) about 9 years ago

Bryant - Great advice.  There is no excuse for sitting there in a funk.  Plenty of options- it is all up to you!

Posted by Wendy Rulnick, "It's Wendy... It's Sold!" (Rulnick Realty, Inc.) about 9 years ago

This is good advice Bryant. People need to get out of the office and meet other people to be successful. Some people don't like to admit it, but this is a "SALES JOB."

Posted by Wayne B. Pruner, Tigard Oregon Homes for Sale, Realtor, GRI (Oregon First) almost 9 years ago

Bryant, well said.  It was great advice in 2007, great advice in 2010, and great advice when I finally got around to reading it in 2011.  Amazing how many of our "agents" only stumble in once a week to the office, and that's usually just to complain.  Bravo on your post...really good advice.

Posted by Matt Robinson, www.professionalinvestorsguild.com (Professional Investors Guild) over 8 years ago

Wow, I'm guessing many skimmed and didn't read this post with their praise. You have great energy and intentions here, I see that. But, I'll just say that this post gave Dave Ramsey a heart-attack and leave it at that. You had me at "it's a business " and lost me at "commission advances". Luckily there more than one way to build a career in here; the real estate industry. Congratulations on a well received post non-the-less.

Posted by Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D, & Host of Postcards From Success Podcast (Big Block Realty 858.232.8722) about 2 years ago

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