2014 Chicago Marathon and 80/20 Rule
While watching the 2014 Chicago Marathon go by today I realized the glaring truth about those who are the best at what they do. There are just only a small percentage of any group or any industry who do the best at whatever they do. The the case of the marathon today, there were a handful of elite runners, yet there were tens of thousands of runners. Now I know that many of the tens of thousands are excellent runners as well, but they are not the elite.
In business you want to try to surround yourself with the elite. Those are the handful of people who go 150% for you and serve you with quality, excellent follow up and the knowledge to get the job done. In business they refer to the 80/20 rule or the Pareto Principle. Eighty percent of the work is done by twenty percent of the people.
The same thing applies when looking for a tenant representation broker. If you decide to select someone from the 80%, you will probably be okay, but you will not have the best. So the goal is to find the elite or the handful who have the best reputation and follow up and knowledge for your particular niche.
Using sites such as theBrokerList.com can help, because you can see who the most active or complete profiles are and who really does the best and most thorough job with completing their profile. Now if you need someone in Chicago, consider giving me a call and we can discuss who some of the Chicago elite tenant representation brokers are and then you can at least say you gave yourself the best possible outcome!