potential. Compare your house with others in the neighborhood to see what makes yours stand out. Work with that.
HOW THE 80/20 RULE APPLIES TO HOME SALES
An out-of-town home shopper with no specific requirements contacted a real estate agent to look at available homes for sale. After viewing some properties online, the agent drove him from house to house. The buyer thought each property was priced too high. IF he wrote an offer, it would be 10% to 20% below the asking price. As the day progressed, the agent’s chances of finding a suitable home were dwindling. They stopped at the last house on their list just as the sun was setting. The exterior of the house was dated and the yard untended. The agent and her client had spent the entire day looking at houses that shared 80% of the same features. Nevertheless, once the buyer walked into the room, he wanted to buy the home for the asking price. What set this house apart from the others? He wasn’t too interested in the kitchen, bathrooms, and bedrooms. A bedroom was a bedroom as far as he was concerned. He fell in love with the one remarkable feature of this otherwise uninspiring house. The house sat on a hill with a beautiful view out a large window. As they entered the great room, the sun was setting below the distant tree line. That view sold the buyer. The remaining parts of the home could be improved. The home buyer based his decision to buy on the window view from the hillside. The 20% of the home’s features motivated him to offer full price on the spot. Such is the power of the 80/20 rule.
In some cases, the 80/20 rule may help people make a sale without
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