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Where do the 80%ers go?

By
Real Estate Broker/Owner with Pareto Realty TN #251071

That 80/20 Principle Rule befuddles me.

I had never even heard of it until I got into Real Estate. I know it is not a real estate specific concept. My "business brain" simply awakened around the time I jumped into this business from the military (where it was more difficult for the 80%ers to disappear in the back-ground - yet as I look back to those years, I know who they were),

For years, I have been fascinated by the simple truth that you can assemble darn near ANY group of people and give them all the same level of training on any particular topic - Even career enhancing, life changing, bone rattling, lean and mean tips, tricks, scripts that'll virtually guarantee SUCCESS . . . and 80% of the folks in the room will leave the room in one capacity or another (physically or mentally) without the goods . . . and will NEVER implement one iota of the learnings.

If you're a 20%er, this is great news . . . If you're an 80%er, you might want to pause and consider your way.

OK 20%ers . . . Your only REAL competition out there is the other 20%ers (unless somehow all the 80%ers figure out that they outnumber you and unite against you - not likely, but possible). You can literally go through each day GIVING AWAY your own secrets of success secure in the knowledge that only 1 in 5 people who hear the wisdom will ever do anything significant with it . . . and truly, the odds are actually more along the lines of 1 in 10 (or 20 or 30). Even most of the 20%ers who seem to "Get it" will not effectively implement it in a sustained way.

I've been a REALTOR since 1993. My first business coach wowed me with his generosity. He simply GAVE away all of his great ideas. I asked him why? "Because I like to help people" yet he quickly acknowledged that most of those people never implemented the ideas at a high level, so he was not, in fact, creating any more competition for himself . . . what he was doing was "raising the tide and all boats were rising with that tide" . . . Keep contributing and the general environment of our industry and our community will improve over time . . . Those 80%ers WILL improve their habits and practices given appropriate training.

So . . . Do people CHOOSE to be 80%ers or 20%ers? Do we each have the ability to CHOOSE our level of success?

or are we just born the way we are and just need to live with ourselves as we are?

I know that not everyone is "learning based" and not everyone is real keen on "taking immediate action" . . . and some folks don't like sitting in class-rooms . . . or reading books . . . or listening to tapes . . . or being held accountable . . . or stepping out of their comfortable "comfort zones" . . .

Yes! We're all different . . . I love that about our world.

I am still committed to helping everyone I can to become the best that they choose to be . . . and I am fully aware that there will always be 80%ers . . . but I have also learned that:

"Once an 80%er - not necessarily ALWAYS an 80%er"

I have seen plenty of great leaders rise from the trenches simply by choosing to achieve high performance and no longer tolerating mediocrity.

All of this came to mind this morning because I was sitting in a classroom yesterday with Jeffrey. We were exploring the final 2 Power Sessions of Keller Williams Realty's powerful 443 program, and our discussion was very rich. I could really see that Jeffrey was "getting it" and is committed to identifying and cultivating a rich farm of his own . . . He's a 20%er . . . Out of the blue, he asked where "everyone else is????" We had started the 443 class with 6 people and here we were - just the 2 of us still standing here . . .

My response was quick . . . "The 80%ers have left the room . . . It's now time for you to take action and show them how they could have benefited by sticking around for the whole course. IN a few months, some of those folks will ask Jeffrey how he managed to overcome the "horrible market" and he will know the REAL answer . . . but will probably let them off the hook and politely say: "It was tough, but I'm glad I buckled down and pushed through."

If you're an educator/Leader, this post is for YOU! Whether you know it or not, your commitment to other people's success is often a higher level of commitment than many of them have in their OWN success. You cannot take ownership of their level of plug-in . . . You CAN be secure in the knowledge that you ARE making a difference in the lives of ALL of your students whether they are 80%ers or 20%ers.

Best,

b

Barry Owen

Career Development Coach

Principal Broker

Keller Williams Realty - Nashville, TN - Green Hills

www.theowengroup.net - The Owen Group is 20%ing our way along with home Buyers and Seller in Middle Tennessee

www.creatingspaces.blogspot.com

Simply & BOLDLY Living the FourFold Way in Open Space!

 

Posted by

Barry Owen

Founder
Principal Broker
Pareto Realty
Nashville, TN

615.502.2080
www.paretorealty.co  
Call me: 615-568-2123
email me: barryo@comcast.net

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Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Barry, this is a great post! It's interesting how the Pareto Principle applies to a number of things in life and especially to real estate. You've nailed it. Thanks.

Oct 14, 2008 12:10 AM
Ed Cheek
Cheek One Properties, LLC - New Orleans, LA

Humm, I wonder if the 20/80 rule applies here in A/R?

Without even looking, I bet it does! 

Right now at this moment there is 10% of the registered members online.

I bet that 20/80 theory applies here to, just as it does everywhere else.

What do you think?

Oct 14, 2008 12:10 AM
Richard Iarossi
Coldwell Banker Residential Brokerage - Crofton, MD
Crofton MD Real Estate, Annapolis MD Real Estate

Barry:  I guess I have a slightly different take on the 80/20 rule.  Using your training analogy I would say that 10% would be wildly successful, 10% would be a miserable failure, and the 80% in the middle would sort of coast along.  It is a bit weird though that you can take the 80/20 rule and apply it to so many situations in life.

Oct 14, 2008 12:11 AM
Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

 It is the people who refuse to adapt...or learn from their past experience that get left in the dust...you can be eternally optimistic and do what you always did...but now, you may not get what you always got !

Oct 14, 2008 12:20 AM
Larry Brewer - Benchmark Realty llc
Benchmark Realty LLc - Nashville, TN

Barry - If you read the books, you will find out that you can also break down the 20 percent of the top, and within that top 20 percent you will have another 80/20 breakdown. What does it mean?

A small percent of people are high achievers. They have the drive and the confidence to go beyond the normal person in their field, no matter what the field is. They will find a way to succeed.

Oct 14, 2008 12:24 AM
Jim Crawford
Long & Foster - Fredericksburg, VA
Jim Crawford Broker Associate Fredericksburg VA

The 80% are just hanging their license someplace else.  The line I use in my seminars is that "The top 7% in real estate are responsible for 93% of all sales!"

Oct 14, 2008 01:57 AM