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The 90/10 rule might not be accurate. It's more like 50/40/10.

By
Real Estate Agent with America's Home Rescue (2008 & 2009 NAR Convention Speakers)

After experiencing the business building process of over 100 Agents over the past 2 years, here is something my wife and I discovered.

You know the whole 90/10 rule?  In truth, it's really 50/40/10.

The 10% represents those who simply need to be shown how to do something and they're just going to make it happen.  No ifs, ands, or buts.  It's somewhat simple for them to run a business.

The 50% represents those who might not be positioned correctly in the right career.  It doesn't mean that they are absolutely going to fail, but they will have a difficult time because they may be too accustomed to stability, i.e. corporate life.  Real estate can be somewhat daunting to them, and the uncertainty of it may be too unnerving for them.

Now, the 40% in the middle are the people who haven't been discovered, yet.  They're all around us.  They just need to be believed in!  In other words, they may be overwhelmed by fear, lack of direction, or lack of confidence.  They want to be successful and their heart is in the right place.  They feel somewhat lost.  I have been a first-hand witness to the extraordinary growth and confidence that occurs in the people in this category when they are believed in and held accountable in achieving things they didn't think they could do.  There are so many Real Estate Agents that have the ability to be extraordinary Real Estate Agents.  They simply need the right guidance, the right systems and processes, and the right leadership to propel them forward.

My wife and I were teaching a Short Sale class not too long ago, and a lady approached me after the class.  She had tears in her eyes.  I was caught by surprise and didn't quite know what to expect.  She proceeded to tell me that the encouragement and confidence that was built by simply sitting in our class for 3 hours gave her the confidence that she could actually go home that evening and leave her husband, who had beat her for 3 years.  Who knew?!

Comments(3)

Jason Romrell
Business Attorney and Success Advisor - Los Angeles, CA

Great post.  I don't know if I agree on the numbers, but I sure grasp the concept you're sharing.  Confidence is so important, especially with a market experiencing all sort of flux (note I didn't say "problems", since many see our market now as an opportunity, not a challenge).  Confidence comes from a lot of things, but education (as you shared your short sale expertise) is certainly one of them.  You just helped someone be a better person with more confidence.  That's a wonderful thing to share!

Aug 06, 2008 11:17 AM
George Wilson
Raleigh Cary Realty - Raleigh, NC
Raleigh Cary Realty 919 439 0965

You definitely have a point in that some people just do not have the confidence or motivation (I think it could be an even bigger factor than confidence).  It can be overwhelming at the beginning if you do not have someone telling you to just concentrate on one thing at a time.

The question is figuring out what is going to give them that confidence or motivation.

Aug 06, 2008 11:50 AM
Not a real person
San Diego, CA

Hey, Michael and Stacy. Gig 'em, Aggies (Just had to throw that in there to get started! LOL)

I've always found it interesting when the various magazines each year report that around 80% of working Americans don't like their jobs but stick with them because of stability. There are even Presidents, CEOs, CFOs, COOs, CTOs, etc., who don't like their jobs but they sure like the paychecks.

I've always had at least one employee who could not think on his own, but once he got instructions on what to do, and knew that he was going to do the same thing each day, he was one of the best employees because he could always be counted on to be there, day in and day out, and getting the work done. I never minded rewarding such people with good year-end bonuses and pay raises, and the turnover rate with my companies has always been very low.

Readers with employees should find "1001 Ways to Reward Employees" as a very worthwhile read.

Aug 06, 2008 07:49 PM