What Is Your 5 Per Cent in R.E.?

By
Real Estate Broker/Owner with Royal Lepage Kelowna

 

5 percent in real estateDid you know that anything we do really only requires 5 per cent of you? Which means we are not using 95 per cent of ourselves and those activities should be delegated or outsourced to someone else or something else and in turn leaves us more time on the 5 per cent of our gift and talent work.

Let us look at this analogy of a winery and selling wine. We start with the expert who grows the grapes for the wine with incredible attention, care and nurturing of those grapes and the growing of the grapes only represents the 5 per cent of the wineries success. Then the winery has someone else pick those grapes and has them crushed, squeezed, fermented, bottled, distributed, marketed, sold and money is collected. Really only 5 per cent of the wineries success is about the growing of the grapes. Just like only 5 per cent of a real estate agents success is what they do best and the agents gift and talent and they personally should be doing that 5 per cent activity every day.

So, what is that activity you ask?

I would say this is people or relationships!! The rest can be automated, systemized or delegated just like the wineries and what they do with those grapes and someone or something else’s expertise.

My mentor and coach Les Hewitt said to me a few years ago Wade we are going to get you to do only three things in your day that you are an expert at and only one of those activities at a time. The rest of it we delegate, systemize, automate or outsource. At the time I thought he was crazy but today I literally do only three things I am gifted at, only one activity at a time during my days at work which for me is speaking/coaching, training/mentoring or encouraging/motivating. The other 95 per cent I leave to my capable team. They all laugh at the office and joke about Wade doing the accounting or Wade doing the systems, details and processes of the company.

Ask yourself these questions:

1) What is your highest value contribution to your business success?
2) What is your 5 per cent?
3) Where do you need to hire, systemize or delegate the other 95 per cent of your business success to allow you to focus on your 5 per cent?

Stick to growing grapes and what you are gifted and talented at in your business. Imagine your days just doing the 5 per cent where you are in your sweet spot and can do effortlessly with expertise. What kind of impact would that have on you? Your business? Income?

Strength and courage,
Wade

PS… Click Here to grab your free copy of the Business Plan Workbook for 2018 available from our Homepage

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Rainmaker
1,626,043
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Good morning Wade Webb 

Thank you for sharing your information

Have a great day.

Jan 17, 2018 08:42 AM #1
Rainmaker
1,159,004
Margaret Goss
Baird & Warner Real Estate - Winnetka, IL
Chicago's North Shore & Winnetka Real Estate

So interesting that I read this today. I attended a Chamber of Commerce breakfast this morning and the speaker explained the 5%/95% rule. I have some work to do on that.

Jan 17, 2018 01:55 PM #2
Ambassador
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Fred Griffin Tallahassee Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

So true!   We need to concentrate on the 5% and let others do the remaining 95%.

Jan 22, 2018 06:58 AM #3
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