In one actual example, a real estate agent was contacted by an out-of- town client. He didn’t present a list of criterion for his house hunt. All he mentioned was that he liked the area. The agent drove him from house to house. In each case, the buyer suggested offers that were 10-20% below the asking prices. He would not budge. She 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 he had a thing for ugly houses. This agent and her client had spent the entire day looking at houses that shared 80% of the same features. The buyer didn’t care about any of those details. A bedroomwas a bedroom as far as he was concerned. He fell in love with the one remarkable feature of this “ugly” house: a large window with a gorgeous view. Since the showing was the last of the day, and the sun was setting below the distant tree line, the view sold the buyer. As far as he was concerned, the other 80% could be addressed. He did not buy the house because he liked the floor plan or the number of bedrooms and bathrooms. His decision was based completely on the hill and view. That view ignited an excitement in him and he offer the full asking price on the spot, without further negotiation. Such is the power of the 80/20 Rule. Learn to leverage this rule, and you will not have to settle for less than your asking price. Leverage a unique selling point. Buyers who fall in love do not haggle over pricing; they make good offers. In some cases, the 80/20 Rule can helpmake a sale without even a showing. This is a huge time-saver. The 80/20 Rule kicked in again: THE 80/20 RULE IN ACTION: BUYERS PAY MORE FOR UNIQUE FEATURES.
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