The 80/20 RULE is an OLD Cliché by Bobby Bryant
If you are reading this blog, I'm sure you have heard of this famous cliché: The 80/20 Rule! In regards to "Producing Realtors" in the Houston Market, this rule is more like 90/10. Houston, Texas has consistently been one of the strongest markets in the United States for several years and for several reasons. We have 26,000 Realtors in our Association, we on average close about 5,000+/- transactions a month, we consistently have a range of 40,000 to 50,000 properties on the MLS for sale at any given time, and according to the Greater Houston Partnership, Houston has 750 to 1,000 people a day moving to our very dynamic and culturally rich city. But, in regards to "Producing Realtors" there is NO 80/20 RULE!
The 80/20 RULE is an OLD Cliché by Bobby Bryant
I believe a better reflection or the updated cliché is The 90/10 RULE! Yes, I agree with you it doesn't sound right. However, post recession, I believe it to be true. Why? Although most cities throughout the United States are rebounding, there are several factors that took places during the recession that evolved the real estate industry. Consumers having access to excess information has increased, the rise and conditioning of Social Media, the rise and conditioning of Groupon/Living Social, television shows on HGTV that educates consumers, Third Party Aggregator websites like Zillow.com and Truila that provides information normally delivered by Realtors, and a NEW generation of consumers whose buying and selling habits are different from those of the past(Baby Boomers).
The 80/20 RULE is an OLD Cliché by Bobby Bryant
The game has changed and is still evolving!! There are Realtors that will never adapt to the new changes that have inflicted itself on our industry. There are Realtors that are still methodically trying to reinvent themselves. Then, there are Realtors that I like to call "Change Agents" that saw the transition coming and have successfully adapted and are thriving in their business. The 90/10 RULE is the NEW cliché! But what are the unsuccessful Realtors DOING or NOT DOING that's hindering their success. I'm glad you asked! This is a bullet point list of what the AVERAGE/BELOW AVERAGE Realtor is DOING to themselves that's preventing them from succeeding in this industry:
- Not going to trainings!
- Not using what you learned at trainings!
- Not taking responsibility for your success!
- Not applying the right amount of ACTION that will generate momentum and success!
- Has every excuse in the book to justify their failures!
- Don't read or do their own research!
- Expect their Broker to do more for them than they are willing to do for themselves!
- The AVERAGE/BELOW AVERAGE Realtor thought this business was EASY!
The 80/20 RULE is an OLD Cliché by Bobby Bryant
The 90/10 RULE!! Today's 10% Realtors are PRODUCING the bulk of the transactions that are closed in your market. YOU KNOW WHY? Because when things were slow during the recession, they were still busy! The 10% Realtor didn't subscribe to the media, they worked harder to increase their business by becoming a resource in their communities and helping people deal with those difficult times. Today's 10% Realtors don't believe in giving excuses!! They believe in making it happen!! Question: When is the last time you saw a TOP PRODUCER at the Realtor Networking Event? The answer to that question is NEVER!!! If they are there, they are on the panel telling you how they get business... The 10% Realtor is a machine. They have successful daily rituals that they live and swear by. Their personal rituals is what governs them!
The 80/20 RULE is an OLD Cliché by Bobby Bryant
Do you want to be a 10% Realtor? It's easy to answer YES to this question! BUT, are you willing to do what it takes to be a 10% Realtor? Are you willing to put in the work to be a 10% Realtor? Can you get rid of ALL your excuses to become a 10% Realtor? Do you know what to do to become a 10% Realtor? I've NEVER seen a TOP PRODUCER make a mistake and become successful in this business. YOU HAVE TO WORK YOUR BUTT OFF to be a 10% Realtor. Being a Realtor is one of the MOST rewarding professions in the world. Our job is to help human beings find a place to grow and raise families. Our job is to manage their transition and minimize the potential problems that may arise before, during, and after their move is final. The 10% Realtor has MASTERED MANAGING these transactions by giving everybody they come into contact with a much deeper richer experience as they satisfied the NEEDS of each of their clients!
The 80/20 RULE is an OLD Cliché by Bobby Bryant
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