The 80/20 Rule Applies to Real Estate Too!

By
Real Estate Agent with Southwest Missouri Realty

 The Pareto Principle originally referred to the observation that 80% of Italy's wealth belonged to only 20% of the population.

Today we know this as the 80/20 rule. The Pareto Principle is the observation that most things in life are not distributed evenly. For example:

20% of the workers produce 80% of the output

20% of the stores get 80% of the sales

20% of the roads get 80% of the traffic

But how can this principle help you in real estate? How about:

20% of the agentsproduce 80% of the sales

20% of the advertising produces 80% of the leads

20% of the websites get 80% of the traffic

20% of the blogs get 80% of the comments

We need to make sure we are focusing our efforts on the 20% of things that create results! Evaluate what works and what doesn't and spend your time wisely.

If you are looking for a Real Estate Professional in SW Missouri, give us a call!


 

Posted by

About The Authors:  Betty Knowles is a full-time REALTOR® with Southwest Missouri Realty in Springfield, MO She also served as President of Women’s Council Of REALTORS® in Southwest Missouri.  Betty’s genuine passion is helping people buy and sell homes in Springfield, Ozark, Nixa, and surrounding communities.  

John Knowles is likewise a REALTOR® with Southwest Missouri Realty and a member of the Greater Springfield Board of REALTORS®.  John is also a FAA part 107 certified drone pilot to get those amazing shots and videos of our properties! 

 

Together this dynamic team makes up TeamKnowles REALTORS®, Spouses Selling Houses!  They are dedicated to doing what it takes to sell your home in the greater Springfield real estate market, or help you purchase a home that fits your particular needs. Give TeamKnowles a call today; you’ll be glad you did!

 

Quick Homes Search:

www.teamknowles.com 

Coldwell Banker Vanguard REALTORS Springfield MissouriSouthwest Missouri Realty

                           Office 417-582-2200

Comments (6)

Chris Oliver
Century 21, Preferred Properties - Reynolds Plantation, GA

Now, If I could just figure out which part is the 20% ...............

Jan 20, 2009 10:32 AM
Betty Knowles
Southwest Missouri Realty - Springfield, MO
Ready to sell? Call Betty!

Chirs, I know. Its a challenge sometimes to figure out what works best.

Jan 20, 2009 11:22 AM
Janice Roosevelt
Keller Williams Brandywine Valley - West Chester, PA
OICP ABR, ePRO,Ecobroker

I remember hearing that P.T. Barnum quipped that he knew 50% of his advertising worked. He just didn't know which 50% :) You are so right!

Jan 20, 2009 10:41 PM
Richard Weeks
Dallas, TX
REALTOR®, Broker

I am not a greedy individual.  I only want nineteen percent of that twenty percent amount

Jan 21, 2009 01:49 AM
Leslie Prest
Leslie Prest, Prest Realty, Sales and Rentals in Payson, AZ - Payson, AZ
Owner, Assoc. Broker, Prest Realty, Payson,

Right now it's more like "90-10", or maybe "95-5", at least in my area.

Jan 21, 2009 04:55 AM
David Coffman
Exit Realty 1st Choice - Tucson, AZ

I agree with Leslie Prest. I think it is 94/6. My only hope is that this market will shake out the "Country Club Agents" that give our industry a bad name and reputation. Part timers are fine, but PLEASE ...

MASTER YOUR CRAFT!!!!!!

Jan 25, 2009 02:44 AM