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The 80/20 Rule and Selling Your House

You have probably heard of the 80/20 rule. In brief, it states that in most things, roughly 80% of the effects come from 20% of the causes. It was developed by Italian economist Vilfredo Pareto, and is known in academic and business circles as the Pareto Principle. He observed when gardening that about 20% of his pea pods held 80% of the peas. He further observed that approximately 80% of the land in Italy was held by 20% of the population. People have observed this ratio in every walk of life and field of endeavor.

1 Allaire StWhat does this have to do with real estate? Think of it this way–20% of potential buyers have 80% of the interest in your house. How to attract those buyers? The 80/20 rule comes back again–roughly 20% of your home’s features contain 80% of its appeal. In promoting your house, a skilled real estate agent will highlight the features that will bring the most interest and the best price. Case studies abound where agents neglected to mention a stunning view or a huge yard or even a swimming pool.

Selling for the best price requires effective marketing. Look at any real estate web listing site and you will soon be wondering what agents were thinking to have included some of the photos! Professionally taken photographs are almost always required, as well as skilled selection of the photos taken. Both photos and listing copy should highlight those selling features that will bring in the 20% of buyers. And it seems obvious, but spelling and grammar count.

This is the point where I tell you to call me to help you sell your house. You knew it was coming, right? Call me at 914-297-8475.

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