The "Pareto Principle" states that eighty percent of results come from twenty percent of efforts. This is widely known in real estate as the "80/20" rule, wherein roughly twenty percent of agents make up eighty percent of sales. This dynamic is understood as becoming part of the "vital few"--or, the twenty percent. Clearly, you want to firmly plant your business in the land of the twenty. And there is no better way to establish that trend for yourself and your business than by identifying and prioritizing the 20 percent of tasks within your control that will lead to 80 percent of your sales results. Following are some tried and true methods on how to become one of the vital few: … [Read more...] about How to Become One of the Vital Few
NAR
Ways to Avoid Deal Cancellations
Owning a home has many advantages, such as being able to call your own shots and building equity over time. After all, it's a foundational part of the American Dream. But it can also be expensive, especially when it comes to maintenance and repairs. Meanwhile, would-be homeowners are being further spooked with high interest rates, high property taxes, expensive insurance and an uncertain employment market. As such, many buyers are priced out of the market altogether or choosing to sit on the sidelines in the hope that prices will ratchet down. In today's market dynamics, renting often makes more sense than buying. Recent statistics show that almost 15% of pending home sales fell through in the month of June alone. A good number of buyers are choosing to back out of deals as they sense a … [Read more...] about Ways to Avoid Deal Cancellations
9 Great Things Agents Love About the Fall Market
Hopefully home sales were brisk during the spring sell season, despite the fact that the current real estate market has been described as "frozen." The good news is that there's still time to make your mark for the year as fall approaches. Fall can be a surprising "sweet spot" for many agents. Here are 9 great things about the fall market: … [Read more...] about 9 Great Things Agents Love About the Fall Market
The Latest on the Clear Cooperation Policy
For the last few years the subject of what's known as the Clear Cooperation Policy (CCP) has caused quite a stir in the real estate world. In 2020 a lawsuit was filed against NAR, the author of CCP, only to be dismissed and revived a number of times. The gist of it alleges that NAR's CCP rule is anticompetitive and violates antitrust laws. With what appears to be a way to satisfy both sides--those that want to keep it and those that want it gone--NAR announced on March 25 a compromise of sorts by adding a complementary option. Here's the latest on the Clear Cooperation Policy: … [Read more...] about The Latest on the Clear Cooperation Policy
A Quick Explanation of the Clear Cooperation Policy
If you've been paying attention to recent industry news then you'll be familiar with the latest kerfuffle in the real estate world: Clear Cooperation. In 2020 the National Association of Realtors® (NAR) adopted a national policy known as Clear Cooperation. On its surface, it was a response to further answer the call for fair housing. But it also came with a number of strings attached, most notably the mandate to put all new listings on the MLS or face stiff fines and penalties. Now that NAR has inextricably landed in the high beams of the DOJ, it's not surprising that the policy of Clear Cooperation has come under its scrutiny. And more notable still is the amount of disagreement--both for and against the policy--among industry professionals. So if you're scratching your head and wondering … [Read more...] about A Quick Explanation of the Clear Cooperation Policy