Continuing education (CE) requirements are probably mandated by your state in order for you to maintain your real estate licence. In order to stay in business, most real estate brokers see this as a necessary evil. How about a more positive approach to this mandatory schooling need. In order to fulfil your continuing education obligations, you can enrol in online classes that allow you to work at your own pace and on your own schedule. In addition to reaching these CE goals, why don’t you take some time to analyse your real estate goals and your career to determine if you’re on track or if there are areas that need improvement. Think about what follows.
Principle of Pareto’s Law
Pareto discovered in the early 1900s that 80 percent of the land in Italy was held by just 20 percent of its population. He also noticed that just 20% of the pea pods in his garden produced 80% of the peas he collected. The 80/20 rule, which holds that 80% of a company’s revenue comes from 20% of its customers, was quickly adopted by the corporate world. In contrast, only 20% of the time spent in a business provides 80% of the money created.
There are many areas of life where the Pareto Principle can be found to be true. For instance, 80% of churchgoers only provide 20% of their tithes; 20% of criminals are responsible for 80% of crimes, both in terms of numbers committed and amounts lost; 20% of drivers cause 80% of traffic accidents… Are you starting to get the picture?
To be honest, most of the time we spend is spent sleeping or working, not resting and socialising with our loved ones, which is what most of us prefer to do. The most important thing to keep in mind here is that just 20% of the time you put in at work is going to pay off. Surely, you can see where this is going? Take an inventory of the time you spend working and find the 20% of that time that is most productive for you. Then, design a strategy to devote more and more of your time and energy to the 20% of your time that is most productive. As a result, other “busy tasks” will likely have to be delegated. According to cost analysis, it is possible to outsource 80 percent of the work, freeing up your time for more productive work in the remaining 20 percent. You’ll be astonished at how much better your bottom line and general effectiveness will be if you devote your time and energy to these productive tasks.
Examining your revenue from the previous year is an excellent starting point for this examination. Verify all of the data thoroughly. What was the main source of revenue for your company? Now, how much of your time did you spend on that portion of your company?? Consider how much time and effort you have available. You’ll undoubtedly discover that around 80% of your time was spent on activities that provided you with little to no financial benefit. Make use of your scalpel and eliminate those activities from your daily routine as soon as possible. Investing your time and energy in the activities that bring you the most value will bring you two gratifying outcomes: Spending time on the most lucrative components of your profession will pay you in two ways: first, you’ll earn more money, and second, you’ll feel better about yourself if you focus on what you’re good at. Is there anything wrong with being paid more to accomplish more of what you enjoy?
Remember these suggestions as you work to fulfil your continuing education obligations in real estate:
• Using an online website dedicated to helping you fulfil your state’s requirements for continuing education, you may complete your training at your own pace, on your own schedule, in the privacy of your home or workplace, and for less money.