This agent and her client spent the whole day looking at houses that shared 80% of the same features. He did not care about any of those details. A bedroom was a bedroom as far as he was concerned. He fell in love with the one remarkable feature of this house.
This plain jane house had something special. As you walked into the great room, there was a large window. The house sat atop a hill with a gorgeous view. And to top it off, the sun was setting below the distant tree line. That view sold the buyer. The other 80% could be improved.
He did not buy the house because he liked the floor plan or the number of bedrooms and bathrooms. His decision was completely based on the hill and view. That view caused him to stop negotiating and offer full price on the spot. Such is the power of the 80/20 Rule.
Learn how to tap into this rule. 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 even helps people make a sale without conducting a showing. This is a huge time saver. The house in the following example had languished on the market for months.
Unlike the previous house, this place was not ugly. On the contrary, it was a brand new custom built home. But nobody seemed to care. It sat on the market for seven months without a single offer.
The builder was baffled. His fancy new house would not sell. He ended up firing his agent and hiring a new one. Fortunately, the new agent knew the importance of finding that unique feature. He drove out to give the house a thorough investigation.
What he found changed everything. The house had a gorgeous 5-acre yard. Other homes for sale in the area were all on 1-2 acre lots.
Not only was the yard bigger, but it was also more private than other lots available. The new real estate agent marketed the 5 acres. He mentioned details and a description of the house. But, he focused attention on the lot.
The house was not the main selling point, so he shifted attention to the 5-acre lot. In no time, his phone rang! A buyer was relocating. He had noticed the house was for sale, but it hadn’t caught his eye.