The 80/20 Rule and my resolution

I got in a bit of trouble yesterday. I knew I would. It was only a matter of time.

My sales manager called me up and asked why all of my clients in Salesforce (our CRM) are so out of date. I told him the truth. I was neglecting them because I have been so busy with other real estate inquires, sales and follow ups. I had a very busy September and October and something had to give. It was new business from my brokerage that had to be ignored.

I blame Tim Ferris and the four hour work week.

I’ve written about real estate many times that: “every next step is your Realtor”. It’s true. Your realtor is the conduit that everything flows through. The devil is in the details. We get busy, like a juggler keeping all those balls in the air. For me, a client in front of me is much more important than a list of possible future clients.

But that’s not the whole truth. The whole truth is never the logical truth. The whole truth, as any good salesperson knows in the emotional truth.

My real estate business comes to my in three ways.

1) Through my website 

2) Referrals of past clients and people who know me

3) TheRedPin

The best business is the top two.

When I say “best business” this is what I mean. Clients who come to me through my website or through referrals tend to be:

1) Well educated. I was out the other night with a couple of PhDs. They commented that they thought that I would have smart clients. Professors, senior managers, brainy computer nerds working for start ups or for well known tech companies have all been my clients over the past two plus years, since google found my website. I’m definitely punching above my weight.

2) Informed. The clients who convert through my website or from a referral, have started their search. They are often in the beginning stages, but they haven’t just gotten started. They ask good questions, testing out the knowledge they know.

TheRedPin

Besides being the best brokerage I’ve ever worked at, TheRedPin is a great sales organization. I worked for a great sales organization (SuperPages) once before so I know what one looks like. A great sales organization is a fun place to work. They work you hard but they make it fun. Great sales organizations have a good commission structure that is easy to understand. (It is mostly carrot with a little bit of stick approach to motivation.)

TheRedPin has one of the best real estate websites in Canada. We capture potential home buyers sometimes just as they are beginning their search. As a result, the potential clients need a lot more work. Many flame out right away and other bumble along in fear and distrust. Some buy, some sell but many change their minds.

That’s why I was shown the stick yesterday. And I appreciate that. Sales people are always going to “maximize their utility”. We know about the Pareto Principle, the 80/20 rule, that 80% of the results come from 20% of the effort.

Resolve

Sales, I know, is about nurture. But it is also about juggling. It is my job to help clients along the learning curve. Some need more help and some need less. I resolve to help them all as best I can, even the 80% that are going to result in 20% of the bottom line.