CHAPTER 8 Why This 20% Rule Applies to Hard-To-Sell Homes Let’s paint a hypothetical situation. Let’s say there’s a buyer who’s looking for a three-bedroom, two-bathroom home. Let’s now assume the agent found him five houses to preview. Each meets his general criteria and is located in his preferred area. He and his agent drive out to look at the five houses. All have very similar features. The prices are comparable. In theory, you might think the buyer will have a hard time deciding between houses. In real life, that’s not the case. No matter how similar they might seem, no two houses are exactly alike. The 80/20 rule comes into play. Imagine four of the houses don’t have a pool, but one does. The buyer isn’t aware of this, though, because the agent didn’t mention it. The buyer sees the four houses that don’t have a pool. He isn’t particularly interested in any of them. Then, he sees the fifth house and the pool! Suddenly, he’s ready to make an offer. He might even pay full asking price, even though this house is more expensive than the others.
THE 80/20 RULE IN ACTION: BUYERS FOCUS ON UNIQUE FEATURES
His offer isn’t based on the 80 percent of features this house shared
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