by Jo-Anne LaBuda
Many people have heard of the 80/20 rule. It is usually applied to salespeople, but it also applies to Realtors. 
 
80% of the business is done by 20% of the Realtors. 
 
Another 80/20 rule to follow as a business person is that 20% of your time spent on what is important to your business will reap 80% of your success.
 
Today’s real estate market for sellers also follows an 80/20 format. 20 percent of the homes are “in the market” and 80 percent are “out of the market”.
What does this mean?  Homes are still selling despite what the newspapers and nightly news would lead you to believe. The key is though, to be in the 20% that are “in the market”. 
 
These homes in the 20% are conditioned superbly and priced to sell.  "Condition" refers to sparkle and updating. Every light fixture, horizontal and vertical surface should shine. Carpets should be cleaned or replaced. Walls freshly painted. Wallpaper removed.  The home should have a fresh smell and light and bright atmosphere with enough personality to not be boring but not so much to make a firm statement.
 
Pricing is even more important in the current real estate market than ever before. Prices should be based more on the active competition and in contract properties than on “solds”. In the past, “solds” were the basis of determining the value of properties before putting them on the market. However when the market is shifting, “solds” may have gone into contract 30-60 days prior to closing and the market may have shifted since that time. Therefore the “in contract” properties are more reflective of what current buyers are willing to pay. The “active” listings are your competition so you want to be “in front” of the other listings in price and condition.
Consult a Realtor about how to position your property so that you are one the properties in the 20% rather than one in the 80%.