Avoid this Rule at Your Own Risk

Dated: July 3 2020

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                                     Avoid this Rule at Your Own Risk

            The key to this entire selling approach is a revolutionary finding discovered by an Italian economist. His name was Wilfred Pareto. The most important thing we can learn from him is the Pareto Principle, better known informally as the 80/20 rule.

The 80/20 Rule applies

to all aspects of life.

            In 1906, Wilfred found a very intriguing correlation. He noticed 20% of the pea pods in his garden help 80% of the seeds!

            Studying the seeds prompted him to take a closer look at this ratio. In one of his initial discoveries, he found 80% of land in his area was owned by 20% of the people.

            After detailed study, he observed this ratio held true in many aspects of life. The Pareto Principle, or the 80/20 Rule, is a result of his findings.

The 20% is vital and the 80% is trivial.

For example:

·         80 percent of your income is derived from 20 percent of your work.

·         80 percent of a business’s income is derived from 20 percent of their customers.

·         80 percent of your value to an employer is derived from 20 percent of your work.

            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 are not equal. Approximately 20% of what you do matters. The other 80% is insignificant.

            It is important to understand this is not always split at 80/20. It can be 70/30 or another percentage. They key is that the two numbers are not equal and they are usually close to 80/20.

How can you apply the 80/20 Principle

to selling your home?

            Understanding this concept can save you time selling your home. Unfortunately, many sellers buy into the false idea more is more. They completely ignore the Pareto Principle.

            Now that you know what the 80/20 Rule is, you are 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 rules, only 20% of your home’s features are important. The remaining 80% are trivial.

            That is 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 the others. These features will make it easier to see 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.

 

 Click here to read Why this 20% Rule Matters to Hard-To-Sell Homes

See more blogs:

Click here to read Does listing price matter?

Click here to read Why it’s so easy to sell your home for less than it is worth

Click here to read What stops perfect homes from selling

Click here to read How to sell a home that didn’t sell…without dropping the price

Click here to read Avoid this rule at your own risk

Click here to read Why this 20% rule matters to hard-to-sell homes

Click here to read Grabbing any buyer’s attention appeal to your target market

Click here to read Luxury home seller strategy sells homes for 15% more money

Click here to read Why home staging really matters

Click here to read Why buyers skipped your home

Click here to read Details win home sales

Click here to read Home buyers pick what homes to preview

Click here to read Why the pictures of your home can stop it from selling

Click here to read The 3 step formula I use to sell homes other agents can't sell

Click here to read Why every billionaire home sells

Click here to read Negotiation musts

Click here to read Simple negotiation ideas now that you know what mistakes to avoid, here is how to negotiate for the highest price possible

Click here to read https://www.expertofrealestate.com/blog/37/Why+Your+Dog+Wants+You+To++Hire+Me+To+Sell+Your+Home

Click here to read A big mistake that cost one home seller $36,000

Click here to read Read this before you sign a contract with a buyer

Click here to read How to find out exactly how much money you will receive on your sale

Click here to read Should you consider hiring real estate agent?

 

Blog author image

Oscar Vasquez

For the majority of people, the purchase or sale of a home is their largest single investment. My goal is to guide you successfully and easily through the contractual, investment and emotional decisio....

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