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 is ready to make an offer. He might even pay full asking price, even though this house is more expensive than the others. The buyer’s offer isn’t based on the 80% of features this house shares with the rest. Instead, his bid is based on one unique attribute: a pool. The 80/20 rule predicted the sale of this house. Sadly, in this case, much time was wasted finding the perfect house. Had the agent known to look for the 20% difference, this might have been her first stop. As a seller, you can leverage the rule to work in your favor. Draw attention to defining characteristics in your home. Here is a real-life example. A real estate agent had a client visit from out of town. He did not have a list of criteria; he just liked the area. The agent drove him from house to house. In each case, this buyer suggested offers that were 10% to 20% below the asking price. He would not budge. She began to worry; the whole day was turning into a big waste of time. As the sun set, they stopped at one last house. It was not good- looking and had little curb appeal. She 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 wasn’t because the buyer had a thing for ugly houses. Nope. The 80/20 rule kicked in again. Buyers pay more for unique features.
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