The 80/20 Rule and why I LOVE it!
Hey there!! Have you ever heard of the 80/20 Rule?
Here is a post from Elizabeth Nieves about it.
In theory, the rule says that "80 percent of a given
group of people will do 20 percent of the work given
to it...and 20% of the group will do 80% of the work."
This theory is based on solid scientific observations
over many, many years.
I have my own piece of data to add to this theory!
Just this past weekend (Memorial Day weekend) I
obtained a buyer who is very interested in purchasing
central Florida real estate to rent out to tenants as
an investment. He has very specific parking needs for
the property, since he will be renting this prospective
home to college students.
I found several properties on the local Orlando MLS
and proceeded to run down the features with my buyer
and we picked out the best ones that would fit his needs.
I called the listing agents of those properties on Saturday
of the holiday and fully expected to have several voice mails
on my phone on Tuesday; they MIGHT be getting paid in
about 3 weeks, right?
NOW, bear in mind, the commission on these properties varies
between $4,350 to $6,000 PER AGENT. So, I ask you.......
Why did only ONE agent out of a total of four have any
kind of answer for me on Tuesday about the parking
restrictions or rules based on the HOA covenants?
AND why did I have NO voice mails from any of the
agents on my phone when I checked it after doing
other things this morning?
When I take a listing, if I have a Home Owners
Association covenant to deal with, I HAVE A COPY in
my file for the listing, along with the other paperwork
needed to CLOSE a sale on the home.
Why, when dealing with such an important issue as
the sale of hundreds of thousands of dollars in value for
a property, do agents sit by and do almost NOTHING to
get the job done?
This situation - Data if you will - fully supports the principle of 80/20.
Only 25% of the agents I called had ANY of the information my buyer
needed on the listings they had for sale. This fully supports that principle...
sad but true.
That is why I am a member of the The Ninety-ninth Percentile group
in ActiveRain©..... so many agents just don't get it.....
If you put that principle to this network, fully 72,000 members in
this network are doing almost nothing to their blogs or profiles. The
other 16,000 or so members are getting leads, Google juice and
great SEO for their marketing efforts.
If you are reading this post and up to this point have done almost
nothing to advertise yourself in this network, I encourage you to
become part of the 20% who DO SOMETHING to make their marketing
work!