I'll try my best to explain it (if anyone sees a mistake here or can explain it better, post and I'll re-edit my comment). When a precipitate forms it is just a solid forming in solution. Solids are NEVER in the equation for equilibrium. Since that is the case, the formation of that solid essentially results in the loss of product (it's not exactly lost, just not in the equilibrium equation because it's a solid and not part of the solution). So think of it as removing the precipitate from the resulting solution. And of course when applying Le Chatelier's principle the loss of product means the creation of more product and so the equilibrium will shift to the right of the equation.