Years ago, while going through some financial difficulty, I accepted a temporary (3 month) assignment at a large, Fortune 500 company that provides HR outsourcing services. The company used three different employment agencies to locate 100 qualified applicants...then trained all 100 people, at the same time, to perform a specific task. Our training was intense, thorough and comprehensive...lasting three weeks and ending in a pass/fail exam. Those who passed would continue to work for the remainder of the three months...those who failed would be dismissed immediately.

On the final day of training, only 86 people showed up to take the exam. Of those who took the exam, only 58 passed. From the 100 people who began the training, a little more than half remained. When I commented to one of the trainers about how disappointed they must have been with the results, she said..."Actually...we were only expecting half of the people to pass the training. We are ahead of the game."

On the following Monday, those of us who had passed the exam were broken into three teams... introduced to our team supervisors...and assigned our cubicles and equipment. That whole day, we tested our systems and prepared to ‘go live' the following morning. Throughout the day, we received random, mock calls from supervisors and trainers who tested our ability to apply the classroom lessons to real life situations. All of the calls were recorded and played back to the whole team. After weeks of training, some of the CSRs (Customer Service Representatives) were completely clueless and made up answers...others were just rude. It was both hilarious and disturbing. At the end of the day, another 9 people were asked to leave...AND THEN THERE WERE 49!!!

At 7am the next morning, I began receiving live calls from retired people who wanted to confirm their enrollment in their health insurance plans. Although the process was simple, many of the callers were quite elderly and needed a lot of explanation in order to understand their options. Most of my calls lasted 15-25 minutes, as many of my callers were lonely and enjoyed having someone with whom to talk. Sometimes, they would share how they had recently lost a spouse to illness and were having problems getting the insurance company to pay the hospital bills. I would cry with them and then promise to investigate their cases. Their stories touched my heart so deeply that I had to do everything I could to help them.

In sharp contrast...from the cubicle to my left, I would often hear the CSR make negative remarks after her calls. She would hang up her phone and refer to the caller as a ‘bitch‘...or say, "I'm so tired of these old people complaining to me. It's not my job to listen to their problems." After a few days of hearing her negative remarks, I could take no more. When I heard her hang up from a call and say, "stupid, old bitch", I leaned around the cubicle wall and said, "You know...I've been sitting here all week taking calls...just like you. The thing I can't understand is how ALL of my callers have been so sweet and polite, but ALL of your callers have been ‘bitches'. Hmmmmm...do you think they intentionally assigned you the ‘bitch line'?" She did not answer me, but apparently I was not the only person who had heard her rude remarks. The supervisors were still recording calls, and they had overheard some of her comments. Her cubicle was empty the following Monday.

By the end of the third month, only 33 people (33%) remained...25 of whom were offered full-time, permanent positions in the company...including myself. In my interview, I learned that the company had received over twenty letters and emails from customers I had helped during my three month assignment...expressing their gratitude for my assistance and care. I was the only CSR who had received such correspondence during an open enrollment...ever!

At that time, I was not familiar with the 80/20 Rule (also called Pareto's Principle). Had I been, I would have understood why the trainers only expected half of the class to pass the exam...why they hired 100 people to fill 50 positions...why they expected to discover and hire 25 permanent employees. In any business...including real estate...you can see the 80/20 Rule at work. The 80/20 Rule says that 20% of the people will do 80% of the work...80% of the wealth will be earned by 20% of the people...20% of real estate agents will produce 80% of the sales. In other words...in any situation..."80% of the effects comes from 20% of the causes."

In reality, the exact numbers are not important. What is important to understand is that the cream will always rise to the top. It is not good enough to be average...you must set your sights on being among the top 20%. To stand out from the crowd...to be the ‘cream'...you must perform better than 80% of your competition. You must go above and beyond the call of duty...giving your customers the absolute best service available in the marketplace.

Ask yourself..."Why should a customer choose to work with me when they have so many choices available to them?" If you cannot think of a good reason...it is time to evaluate the services you provide and make the changes necessary to distinguish yourself from the crowd. In my example above...all 100 of us received the same training and opportunity...but only 33 took full advantage of the situation. Are you taking full advantage of the opportunity you have been given in real estate? Are you the best REALTOR® in your office...in your area of expertise...in your town? If you are not the best...are you in the top 20%?

  

If not...it is not too late...

YOU CAN BE GREAT IN 2008!

  

Written and Posted by:

Elizabeth Nieves - Broker, REALTOR® -- The Elizabeth Nieves Realty Group @ Keller Williams (A Bilingual Real Estate Team serving Raleigh, Durham, Chapel Hill NC and surrounding areas.)

Search Raleigh, Durham, Chapel Hill Homes for Sale

 
Post is included in group: Christianity and Real Estate

33 Comments on And THEN there were 49! (Pareto's Principle and Real Estate)

DEC
28
2007
120,977 Points Localism Sponsor Outside Blog
Very interesting post and very inspiring. Thanks! All the best to you in 2008!
3:17pm • #1
339,473 Points 11 Featured Posts Outside Blog

No fair........ =-P

This is a GREAT post!!!

I am flagging it to be featured in ActiveRain©

I hope it DOES get featured... you deserve it, sis!!

=-)

3:17pm • #2
5 Featured Posts
Elizabeth- I agree with Alexander, GREAT post! My past life includes recruiting for an IT consulting firm, where I learned the Pareto Principle, as our clients would often issue job requirements for staffs of 100 temporary employees, and offer jobs to 20-30 of the best during a 3-6 month contract. Call center staff are the toughest positions to fill, for the very reasons you specify. If there is something that sets you apart from your competition, regardless of industry, use it!
3:30pm • #3
4 Featured Posts Localism Sponsor
Girl, when are you going to get syndicated?  This is the substance we need in our trade publications.  You've always got something relevant to say and you express it so well.  It is so true that 20% do most of the work in any area.  I discovered this in volunteer involvement in school and community, but I think the number is even lower there.  It can be discouraging when you are not getting paid.  As for the 20% making 80% of the wealth, I'll work for that!
3:46pm • #4

This is one of the best posts that I have seen.  Thanks so much for sharing it!

3:58pm • #5
Localism Sponsor

Wonderfully inspiring post for the New Year, girlfriend! I REALLY hope it will get featured.I have heard of the 80/20 many times, I just had never heard what its Educated name was called. Very interesting.

There are so many new agents starting in the business that forget they are entering a PEOPLE SERVICE career. They should LIKE people if this is the career they are wanting to succeed in. NO, all of the people are not going to be nice or polite ones. HOWEVER, does that mean we should not be nice to them? Kill them with kindness is an old saying that comes to mind.

But you know what, the most important one is just the good 'ole fashion Golden Rule.

GBU my friend and Happy New Year! LOVE THE RED DRESS

4:00pm • #6
292,376 Points 100 Featured Posts Localism Sponsor Outside Blog
Elizabeth, Truly enjoyed reading this inspirational post.  It's a wonderful, positive message for the New Year!
4:08pm • #7
121,318 Points 2 Featured Posts Outside Blog

Elizabeth-That whole story shouts out the WOW factor in a huge way.  I have to say you had me cracking up with the exclusive line for the not so friendly CSR.  I believe that every morning we awake we are given the choice of what attitude we want to project to the world.  If life hands us some bumps, it's still our choice as to how we are going to get through it.  When our attitudes are horrible, people can feel it from miles away and it sets the tone for the entire conversation.  The flip side, when we are on the receiving end of a bad attitude we have the choice to figure out how we are going to handle it.  

You my friend are such an inspired soul.  Every word you spill out from your heart and the story you tell is another way God is using you as an instrument to make a difference in this world.  Thank you so much for being such a selfless person. Much love to you! 

4:17pm • #8
639,711 Points 108 Featured Posts Localism Sponsor Outside Blog
Elizabeth - Pareto's Principle is something that never ceases to interest me in real estate.  I think our industry may even be closer to 90/10, but that's just a guess.  I also flagged this one for a feature on AR.  This is a terrific message, and it is so well presented.  GREAT job!
4:37pm • #9
195,221 Points 29 Featured Posts Outside Blog

JIM:  Thanks so much! The best to you also!!

ALEX:  THANKS so much! You know...I just write from my gut. But...I appreciate your show of support. GBU!

ALLISON:  I believe that anyone can be the best...by choosing to do more than is expected. When I first got my license, I did not ask anyone what I should do...I just did what I thought people deserved. As I became successful, people would ask me the secret of my success. I never held back and would explain what I did to anyone who asked. Without fail...about halfway through the conversation...they would say "Thanks, but that is too much work. I'll just keep doing what I'm doing. That is good enough." I'll never forget that.

ELAINE:  THANK YOU so much! One step at a time, but I appreciate your encouragement, my friend! In volunteer work, I am sure that the numbers are much lower. I've seen over and over how people will give just enough to say they gave...but not really invest themselves. It is a very rare person who will give all without financial reward. Those are the people I like to know. Blessings!!

KAREN:  Thank you so very much! I'm glad you enjoyed it. GBU!

KATHY:  What you said is so true...You need to like people to be in this business. That is something you can't teach someone. IF you don't really like people, you'll tire quickly and become bitter. The Golden Rule works every time!!

I'm glad you like the dress. I actually bought one very similar a few years ago for New Years Eve. I thought it was particularly appropriate.

May your new year be filled with EVERY BLESSING from God!!!

LOLA:  Thank you. Many blessings for the NEW YEAR to you and yours!

JULIE:  You are making me cry...AGAIN! You just always touch me so deeply. Your words are so wrapped in love. One thing is for sure...people can feel your heart on the phone...on the internet...in your words. You ooze love. Te amo!!

JASON:  Thanks, my friend. I agree with you about the 90/10. Like you, I'm just guessing. What I do know is that this is the time to set yourself apart. Those who choose to step up and take their service to a higher level will receive a huge reward.

Thanks for recommending me for a feature. :-) GBU!

4:59pm • #10

Great post again, Elizabeth. My nephew recently took a job and within 2 weeks he was asked to move up to management because he had impressed the customers so much they were  calling to tell them.  This is so true.

Blessings to you and wishes for a most wonderful 2008. 

5:51pm • #11
139,233 Points 13 Featured Posts Outside Blog
Elizabeth - Wow! Powerful post. You are such an inspiration. Thanks for your bright light!
6:03pm • #12
Great inspiring writing. Thank you for the boost to hit 08 with enthusiasm.
6:26pm • #13
Great Post Elizabeth. I hope you have a Wonderfully prosperous and blessed 2008. Good customer service goes a long way....God Bless!
8:14pm • #14
406,013 Points 21 Featured Posts Localism Sponsor Outside Blog
Elizabeth, as I was reading your post I was thinking the 80/20 rule is alive and well.  It is amazing but that just seems to be a life.  I personally choose to be in the 20% and have tried to raise 20% children also; actually they are now young adults.
9:15pm • #15
101,146 Points Outside Blog

Wow!! excellent The cream, in this case you, does rise to the TOP!

May God keep blessing you!

9:16pm • #16
571,411 Points 59 Featured Posts Outside Blog
Elizabeth, in real estate I hear 7% of the agents sell 93% of the deals.
10:10pm • #17
182,728 Points 11 Featured Posts Outside Blog

Elizabeth...that was like Deja-vue. One of my first jobs was as an information operator for BC & BS when the Medicare/Medex program was introduced....it was a real challenge! Plugged in 24/7!

Relationship building is one of the biggest rewards of this business! Great Post!

10:26pm • #18
229,187 Points 15 Featured Posts Outside Blog
Elizabeth, what haven't you done, girl???  Amazing post and definitely deserving of a feature...that closing paragraph is sooooo powerful!!!
10:50pm • #19
550,904 Points 95 Featured Posts Localism Sponsor Outside Blog Hit Router
Elizabeth, wonderful inspiration post. Attitude is so important in our careers, and gratitude and appreciation for the opportunities that come our way.
11:07pm • #20
DEC
29
2007
445,815 Points 28 Featured Posts Localism Sponsor Outside Blog
Elizabeth, It's so true, we are who we'd like to be.  I like to be a person who will go out of my way to help others and so do you.  Your post is not only inspiring, it touched a nerve that made me remember all the people I've come accross that had the attitude of the person next to you---and it needs to be exactly the opposite! 
1:05am • #21
252,041 Points 44 Featured Posts Outside Blog
You did it again my dear.  A wonderful post with a powerful message!   Of course I was not surprised that your company would receive letters that were glowing about you :-)
5:57am • #22
270,951 Points 41 Featured Posts Outside Blog
ELIZABETH - I guess great minds think alike! (LOL)  I have a whole business idea for real estate built around the Pareto Principle.  I was planning on doing some posts on it in the new year.  Great writing as always, and very inspirational.  I'm sure that your 2008 is going to be a great year.
6:00am • #23
195,221 Points 29 Featured Posts Outside Blog

PAT:  That speaks very highly of your nephew. Best of luck to him!

TOM:  You are just too sweet! Thank you!!

CLARK:  May your 2008 be blessed beyond your wildest dreams!!

SALLY:  It is the secret to success in any business. Best to you and yours also!

MARCHEL:  I believe that teaching your children this principle is one of the best advantages you can give them. I think of my mom. She taught me without knowing it. She taught me that...in whatever I do, do it to the best of my ability...or don't do it all at.

ARMANDO:  God is good!! ALL THE TIME!!

GARY:  That number would not surprise me.

JOAN:  Thanks so much! I imagine you can completely relate to the environment in which this post was inspired.

LISA:  Thanks, my friend! I have done a LOT of things. :-)

MISSY:  You are so right. 90% of the battle is in the mind and attitude.

CAROLE:  In those situations, I always ask the question...what is a person like that doing in a people business? If you don't like people...do something where you don't have to come in contact with people. :-)

KRIS: You are just so sweet!! Have a wonderful NEW YEAR!

ADAM:  OF COURSE, I'm not surprised!! You are so encouraging Adam. Thanks for all your support.

To EVERYONE:  May your NEW YEAR be filled to overflowing with every blessing you can imagine!

4:24pm • #24
1 Featured Post

Elizabeth, You've done it again!  This is great post.  The story was interesting in itself.  It doesn't surprise me that you rose to the top there.  I can only hope that my grandmother gets some one as nice as you when she calls in with her insurance problems.  I'm also glad to hear that the company offered such thorough training.  I loved your response to the girl in the cubicle next to you.  

Great message also.  You are so inspirational.  God bless you!     

5:31pm • #25
222,332 Points 12 Featured Posts Localism Sponsor Outside Blog

Ask yourself..."Why should a customer choose to work with me when they have so many choices available to them?"

What a great question to contemplate as we approach 2008!  I just love your meez!.  Happy New Year Elizabeth.

 

5:56pm • #26
DEC
30
2007
201,316 Points 6 Featured Posts Outside Blog

Elizabeth, Once again you are off the charts with your exquisite writing style and poignant life lessons. I found myself getting angry at that witch next to you. How dare she mess with the old folks! GRRR! I love your comment to her!

 Whatever path God has put us on we are to do everything big and small for His glory. That alone will get us to the top of the heap.  GBY!

Ginger

1:01am • #27
233,545 Points 5 Featured Posts Outside Blog

Elizabeth,

 I really enjoyed reading this post. If this company was a real estate company then the remaining 25 people would have been the "professional realtors". I plan on being in the remaining 25 after the dust settles in the next few months.

2:59pm • #28
DEC
31
2007
Elizabeth - You my friend are outstanding at writing. I so enjoy what I read day after day. I have been busy working with buyers this past week, thanks to your prayer offers! I hope to spend some time here this week, but wanted to stop by and wish you the very best New Year and may you have great success, lots of love and may you be blessed to the fullest! Love the post of course, always! Be blessed my friend.
Candace - I didn't log in...sheesh
1:59am • #29
111,850 Points 13 Featured Posts Outside Blog
I wasn't paying attention when I wrote that message above, thought I was logged in...ooops!
2:02am • #30
213,204 Points 1 Featured Post Outside Blog
AWESOME POST Elizabeth - This principle( 80/20 rule ) transcends every profession as well ! I have seen it follow me throughout my life's career choices and taught my girls this as well.....that  just alittle extra effort will make you very valuable in the work place! Happy New Year my friend :)
11:06am • #31

Elizabeth,

What a wonderful post! I love your writing style and have subscribed to your blog. 

11:25am • #32
195,221 Points 29 Featured Posts Outside Blog

SONDRA:  Thank you and Bless you back! You are such a special person!

Thanks TRACY!! I used to have a red dress like this one. It brougt back memories!

GINGER:  I know what you mean!! Just thinking back made me remember how angry I was at that moment. I'm like you...don't mess with old people!!!! I love you, darling!! HAPPY NEW YEAR, MY FRIEND!!

MIKE:  I'm glad you enjoyed it, and I do believe that you ARE ONE of the great ones.

CANDACE:  You are just tooooooo sweet! I have missed you also. I've been surrounded by tons and tons of family...cooking and doing family stuff. I've had very little time for anything other than that. Next week will be back to normal. I'm so glad you are busy with clients. I've been praying, and I'm going to keep doing so. I really want you to have an incredible 2008!!! Happy New Year!!

GRACE:  You know...I could tell from the first time I read your blog that you were the 'cream'. I just knew it. You are an amazing person. I am so happy that I met you this year, and I'm looking forward to knowing you more. GBU!! Happy New Year, my friend!

KAY:  I'm so glad you enjoyed it. Thank you so much for subscribing. I'm looking forward to knowing you!! Many blessings now and always!

8:30pm • #33

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Elizabeth Nieves - Bilingual Raleigh - Durham North Carolina Real Estate Team

Durham, NC

More about me…

The Elizabeth Nieves Realty Group

Office Phone: (919) 484-9993

Cell Phone: (919) 749-3749

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'STUFF' you NEED to know if you are planning to BUY or SELL your home! BEWARE...You may even be ENTERTAINED while you LEARN NEW 'STUFF'!!!

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