You might wonder what all of this means. In a nutshell, it means some things are substantially more important than other things. In other words, things aren’t equal. Approximately 20 percent of what you do matters. The other 80 percent is insignificant. How can you apply the 80/20 principle to selling your home? Understanding this concept can save you time in selling your home. Unfortunately, many sellers buy into the false idea that more is more. They completely ignore the Pareto principle. Now that you know what the 80/20 rule is, you’re probably wondering how it applies to selling your home. When you use the 80/20 principle in selling, you stop trying to sell people on the entire home. Based on the rule, only 20 percent of your home’s features are important. The remaining 80 percent are trivial. That’s because they are the same features many other homes in your neighborhood have. Instead of focusing on those trivial features, you need to focus on the vital features. When you sell your home, focus on unique features to grab the attention of buyers. These features make your home different from other homes. These features will make it easier to sell your home for the full asking price. Let’s look at a few real-life applications and examples of how the 80/20 rule can have an impact on selling your home.
POINTS TO REMEMBER:
• According to the 80/20 rule, approximately 80 percent of effects come from 20 percent of causes. • Following that principle, buyers will focus on 20 percent of your home’s features. The other 80 percent are probably 13
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