The Power of Focus “You get what you focus on”, “inspect what you expect”, “if you chase two rabbits, you get neither” - - all clichés that are intended to convey the importance of the power of focus. Focus is defined as: a center of activity, attraction, or attention; a point of concentration.

The Pareto Principle is widely recognized as the management standard for prioritizing time and tasks. The Pareto Principle (also known as the 80-20 rule) states that, roughly 80% of results come from 20% of activities. If you are a Realtor® identifying your 20% activities can be a daunting task. There are more than 197 “to-do’s” that an agent performs on a routine basis. So how do you find the dollar PRODUCTIVE activities that will propel your business forward? I’m glad you asked! Leads, Listings and Leverage!

First and foremost, lead generation. Gary Keller has an awesome statement that he often makes: “If you are too busy to lead generate . . . you won’t be”. Leads are nothing more than cultivated relationships. In a shifted market such as the one we are experiencing now, MARKETING is not the answer for building your business. PROSPECTING is. With the economic uncertainties that are taking precedence in peoples’ minds, they need someone they trust to advise them. A postcard does not build trust, but a thorough needs analysis does. And you can only conduct an analysis of needs if there is a relationship in place that is built on mutual respect and trust. Real estate is a contact sport, and if you are depending on a third party of any type to contact past clients for you, I promise - -you are losing market share.

Second in importance is acquiring seller listings. Not only is market share measured in listings, but it is the number one lead source for buyers! The more listings you have, the more buyers are interested, the more your phone rings. I cringe every time I hear an agent say “but I don’t like listings . . . I like working with buyers”; and I think to myself, without listings, how do you expect to get buyers? Most agents are fearful of working to obtain listings because they are not confident in their skill set and have no systems in place to service the listings they acquire. The answer for “listing phobia” is to find a mentor or coach who can help you with your listing presentation, scripts and dialogues and systems. Otherwise, you will never become comfortable with becoming a listing agent, and you will always be dependent upon others to bring you leads.

Third and finally, is leverage. The simplest definition for leverage is help or assistance that makes you more effective. When it comes to leverage, there are three avenues for finding leverage:

1. Business Systems. Anything that is a repeatable process should have a system. This goes for everything from answering the telephone to submitting paperwork to your brokerage to staying in contact with your clients. Do you have systems, or are you “just winging it”? Winging it is for the birds.

2. Business Tools. I was flabbergasted recently when an agent from another firm called our office and demanded that our agent he was working with hand deliver documents because he refuses to use tech tools. No fax, no email, no text messaging. IMHO, every Realtor should at a minimum have a smart phone (BlackBerry, I-Phone, etc), e-fax, SMS capabilities, IM capabilities and the ability to send documents as a .pdf. These tools are not tremendously expensive, but they are tremendously effective.

3. People: People are the most obvious form of leverage. You may say to yourself “I can’t afford an assistant”. Hiring an assistant is not the only form of people leverage. As a Realtor®, you have a cadre of professionals already surrounding you. The question is, are you utilizing them? Your trusted vendor partners should be called upon to provide excellent service to your clients and feedback and input on your systems. Do you meet with your vendors on a regular basis to clarify expectations and to gain understanding of how they conduct business? If not, you are possibly missing one of the most important ingredients in your recipe for success.

The bottom line is, a Realtor’s® 20% activities are the things that cannot be effectively delegated: building relationships (lead generation), increasing market share (obtaining seller listings) and leveraging time for maximum effectiveness.

For complimentary review of your real estate practice, please contact me at paulamosley@kw.com.