miles away. Fearing that someone else would buy it before he could, he bought it sight unseen. He didn’t want to lose out on his “perfect” home. The sale was completed in 45 days. The builder was amazed! His house had been on the market for close to eight months. That small percentage of the home’s features was the selling point. The 80/20 rule unfolds again. Now, not every market is going to be akin to what we experienced in 2020, 2021, and 2022. The real estate frenzy can likely be more attributed to a combination of variables. The COVID-19 pandemic created a desire for more personal space in and around the home which created an unprecedented demand for housing. The mass exodus from major cities, further compounded by government driven low interest rates and people staying home and saving money resulted in consumers having an excess in expendable income. The psychology behind human decision making is typically driven by one of two things: "fear" or "greed". The circumstances in our world over the past few years created a perfect combination of both, resulting in multiple offers, homes being sold with no inspections, oftentimes for more than $100,000 over asking price. Now that the playing field has leveled to an extent, we need to go back to basics and ensure that the most marketable features of your home are put in the spotlight. If you learn how to apply this rule by leveraging a unique selling point, you will not have to settle for less than your asking price. Buyers who fall in love with a home rarely offer a lower price. By shifting focus to the five acres, the real estate agent captured the interest of buyers immediately. The house was no longer unsellable, but desirable.
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