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Using The 80/20 Rule in Real Estate Sales

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

You've probably heard this called 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 agents produce 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 focussing 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 me a call!

WWW.TEAMKNOWLES.COM

 

About The Authors:  Betty Knowles is a full-time REALTOR® with Coldwell Banker Vanguard REALTORS® in Springfield, MO and proudly serves on the board of the Greater Springfield Board of REALTORS®.  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 full-time REALTOR® with Coldwell Banker Vanguard and a member of the Greater Springfield Board of REALTORS®. A self-proclaimed computer geek, John is talented at developing real estate websites, videos, photography, blogs, search engine optimization and other technical skills essential to marketing and selling real estate in Springfield MO.

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!

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Comment balloon 10 commentsBetty Knowles • May 13 2008 12:41PM

Comments

Holds truth no matter what you're talking about.

Good post.

 

Posted by Linda Lipscomb, 731-695-1118, Lexington TN Homes (Linda Lipscomb RE/MAX Lexington Henderson County TN) over 10 years ago

I'm not sure its exactly 80/20

It seems more like 95/5 or even more imbalanced than that!

 

 

Posted by Aventura | Bal Harbour | Sunny Isles Beach | REALTOR® 786-229-7999 (SIB REALTY, Llc // WaterWayRealty.com) over 10 years ago

Betty, good post, I tend to think that at least in our market it is more like 90/10 rule.  But you're right we need to focus on the most effective things possible!

Posted by Tony & Darcy Cannon, The C Team (Aubrey and Associates Realty) over 10 years ago

Betty - Thanks for sharing the info.  We've heard it so frequently over the years regarding production, but I like the additional step you've taken in urging us to focus on the marketing that actually provides the results.

Posted by Lynn Johnson, Owatonna, MN Real Estate (Coldwell Banker Home Connection) over 10 years ago
Great post...now how do you figure out what things fall under the 20% ?? :) :)
Posted by Konnie Mac McCarthy, Broker/Owner - VA & MD "Time To Get A Move On!" (MacNificent Properties, LLC) over 10 years ago
Great post...now how do you figure out what things fall under the 20% ?? :) :)
Posted by Konnie Mac McCarthy, Broker/Owner - VA & MD "Time To Get A Move On!" (MacNificent Properties, LLC) over 10 years ago

well said...something to contemplate...

Posted by joan wexelbaum over 10 years ago

Good post. I agree with Tony and Darcy Cannon thta it is more like 90 / 10 in some cases.

Posted by Gita Bantwal, REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel (RE/MAX Centre Realtors) over 10 years ago

Great reminder, thanks!!! Working that 20% is critical to success in today's market.

Posted by Alex Mordas, Green Building Consultant (EarthSTEPS) over 10 years ago

Great Post, Betty !  I enjoy all of your informative information. Keep up the great work ! Have a great day !

Posted by Eric Meruelo, Vice President / Sr. Loan Officer over 10 years ago

Participate