We set out to prove that we could defy the Pareto Principle, and it’s working.
“The Pareto principle (also known as the 80–20 rule, the law of the vital few, and theprinciple of factor sparsity) states that, for many events, roughly 80% of the effects come from 20% of the causes”
When I theorized the philosophy and Business Model of Pareto Realty in the summer of 2010, I had not yet named my new baby. I knew that what I wanted to create would be a safe space for Real Estate Sales Professionals to thrive in their careers of helping the families of Middle Tennessee to realize their version of “The American Dream” through home-ownership.
As a long-time student of the 80/20 Principle, that weighed heavily on my mind. I wanted our Team to be comprised of high-minded folks who would be committed to being “20%ers – Vital Few” REALTORS . . . That is, they would consistently show up in the top 20% of all REALTORS in our marketplace in terms of sales production, ethical standards, and personal fulfillment.
My crazy idea was that I might even be able to “FLIP” the 80/20 principle – through careful selection of “Right People,” a supportive office environment with the right tools, and strong training and mentoring and Broker support, we could build a company in which 80% of our members would be “Top 20% Producers” in our real estate market.
We are making great progress and, in fact, are VERY close to accomplishing the goal. Our most recent BIG MOVE is our move from an executive suite in Belle Meade to an awesome stand-alone retail space in Green Hills. We are @ 75% in terms of having our new digs ready for “normal operations” . . . and below is a post I made this morning on the Pareto Realty Facebook page (Please visit and “LIKE” it) updating our Team Member’s performance . . . I LOVE it when a plan comes together.
Oh my! We’ve been busy preparing our new office this week and are SO excited about the progress . . . and that’s not all we’re doing – A steady stream of closings continue to flow in . . .Just in the last 30 days, the commission account shows: Barry Owen, Anna Landry, Debbie Owen, Jen Austin, Fran Patton, Heidi Jordan, and Kevin Martelli – Not to mention several deals in the works Cynda Johnson, Didi Sparks, John Donelson, Abby Norman, Darla Bousselot, Caroline Hemyari, and multiple new listings queued up to hit the market soon. We have, indeed, met our goal of “Flipping” the Pareto Principle which simply states that a small proportion of the population (The 20% Vital Few) produce the largest proportion of the production/results (80%) while the majority of the population (80% Trivial Many) produce the remaining 20% of the production . . . 4 new Members coming soon smile emoticon
Here at Pareto Realty, we’ve flipped it . . . 80% of our agents are actively working with Home Buyers and Sellers at any given time.
How do we do this?
Check out more about our philosophy at this link and connect with Barry Owen when you’re ready to ramp up your business and join The Vital Few. http://whyjoinparetorealty.com