CHAPTER 2 Common Reasons Most FSBOs Fail Fail is such an ugly word; so are “sold below listing” and “200 days on the market.” Of course, any real estate deal can go south, even ones represented by listing agents who sell homes day in and day out. In 1906 Italian economist Vilfredo Pareto helped shine light on why some homes sell, and some don’t. The Pareto principle, aka “the 80/20 rule,” found that in most endeavors, from growing peas to selling homes, about 20% of what you do matters, while the other 80% makes little or no difference at all. Sometimes, the split is 70/30 or 75/25. But the point is the same, and when it comes to real estate, the Pareto principle means: Stop trying to sell buyers on your entire home, because only 20% of your home’s features are important to the buyer, while 80% don’t matter much because most homes buyers see have the same features. The trick is to emphasize the 20% of your home that is unique, like a view of the ocean or a shady yard with mature trees. Following the 80/20 rule will save you time. Here are some unique features that will make your home stand out. Great views: Of valleys, mountain, river, lakes — any views that other comparable homes don’t have. Wildlife attractions: Perhaps your house looks over wetlands where many types of birds stop during migration, or you’ve got a wildflower garden that butterflies and hummingbird frequent. 6
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