Selling Your Home During A Divorce The 80/20 Rule.
IN 1906 an Italian economist, Vilfredo Pareto, found an intriguing correlation. He noticed 20% of the pea pods in his garden held 80% of the peas.
Studying the peas prompted him to take a clear look at this ratio. In one of his initial discoveries, he found 80% of the land in his area was owned by 20% of the people. After a detailed study, he observed this ratio held true in many aspects of life. The Pareto Principle, or the 80/20 rule, is the result of his findings.
For Example:
- 80% of your income is derived from 20% of your work
- 80% of a business’s income is derived from 20% of its customers
- 80% of your value to an employer is derived from 20% of your work.
Relating The 80/20 Rule To Home Selling.
Understanding this concept can save you time and frustration in selling your home. When you use the 80/20 rule, you stop trying to sell people on the entire house. In applying the rule, you can highlight the 20% of your home’s features that make it special. The other 80% still affects the buyers decision, so you don’t want to neglect it. But you also do not have to spend a lot of time and money to improve it.
Your selling point won’t be the common features your home shares with the other properties on the market. Focus on your home’s unique features to grab the attention of buyers.
80/20 rule in Action:
Buyers are searching for unique features. Spotlight the unique features of your home that set it apart from the others on the market. You will attract interested buyers who are willing to pay the asking price.
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