If You Must Sell in a Buyers' Market

February 25, 2008
Now that we all know that the real estate market has cycled from a sellers' market to a buyers' market, it is important for the sellers who must sell to recognize that real estate values are not the same as they were a few years ago.
Having said that, it is still possible for sellers to sell quickly and sometimes with multiple offers.
I recently read a fun article entitled "Play the Cards You're Dealt". The author suggested that when you sit down at a poker table, you become a winner by being realistic about the odds of winning a hand with the cards you are dealt. Knowing when to raise and when to fold contributes to the chances of being a successful poker player.
Similarly, when you put your house on the market at the present time, there are strategies that will increase the chances of a successful sale.
1. Know what comparable properties are selling for NOW!
2. Ask your agent to take you out to see your competition.
3. Make your house a turnkey...not a turkey.
4. And above all be realistic about how your house compares with others.
This is not a time to "try a price". This is a market that says "Here's your value, list lower that your value". Smart sellers are playing the market this way and they are winning.