As a seller, you can leverage the 80/20 rule to work in your favor. Draw attention to defining characteristics in your home. In one real-life example, a real estate agent was contacted by an out-of- town client. The client didn’t present a list of criteria for his house hunt. All he mentioned was that he liked the area. The agent drove him from house to house. Each time, the buyer suggested offers that were 10 percent to 20 percent below asking price. He wouldn’t budge. The agent began to think that the whole day was turning into a big waste of time. The last house of the day didn’t have a lot of curb appeal. It was not a great looking home, but the agent was out of options. Nevertheless, this house broke the tough negotiator down. He was suddenly willing to offer the full asking price! What set this house apart from the others? It was not because the client had a “thing” for ugly houses. The 80/20 rule kicked in again.
THE #1 SECRET STRATEGY TO HOME SELLING
Understanding the 80/20 rule concept can save you time in selling your property. Stop trying to sell people on the entire home. Instead, highlight the 20 percent of your home’s features that make it special. The remaining 80 percent of your home still affects the buyer’s decision, so don’t neglect it, but in photographs and showings, feature the elements that make your home special. Your selling point won’t be the common features your home shares with the other properties on the market. Instead, use your home’s unique features to grab the attention of buyers who are interested in those distinctive features. In business we call this the "unique selling proposition" or "USP." The concept applies just as well in real estate. Learn to leverage the 80/20 rule, find your home's USP, and you won’t have to settle for less than your asking price. Buyers who fall in love don’t haggle over pricing; they make good offers.
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