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I get this question a lot--"How can I sell my home in a buyer's market like this?"

The honest truth is that all buyers are looking for the best deal, and the best house they can afford. If you've ever been house shopping, I'll bet that's what you wanted, too!

Here's what the statistics tell us about this market:

* Homes in the TOP 30% of CONDITION are selling

* Homes in the BOTTOM 30% of PRICE vs. comparable properties are selling

A fellow realtor put it this way--"Buyers not only want the shiniest apple, they want the cheapest one, too!"

Right now the inventory of homes in my area is 17 months. That means at the current rate of sales, if no more homes came on the market, it would take about 17 months to sell the homes that are currently listed. I don't know many people who would want to wait about a year and a half to move and get their money out of their house, so if you're selling, be sure to ask your agent if they have suggestions on the house's appearance and pricing. Your realtor can tell you exactly what the market is in your area, and make solid suggestions how to catch a buyer's eye. Many people are using professional staging companies, the same companies that do the decorating and furniture arrangement for the beautiful model homes you may have seen. For a small investment, you can make your home stand out from the crowd, and that's a good investment.

In the past, real estate agents always represented the seller, whether the agent helped a seller to market and sell a home or helped a buyer find and purchase a home. In other words, agents were at one time legally bound to represent the seller in a residential real estate transaction. In that scenario, the seller paid both the listing agent and the agent who brought the buyer.
In the past, real estate agents always represented the seller, whether the agent helped a seller to market and sell a home or helped a buyer find and purchase a home. In other words, agents were at one time legally bound to represent the seller in a residential real estate transaction. In that scenario, the seller paid both the listing agent and the agent who brought the buyer.

Today, agents either represent the buyer, the seller, or both. If you want to sell your home, you can work with a "seller's agent." If you want to buy a home, you can work with a "buyer's agent." Most states require real estate agents to disclose to consumers who they represent. Sometimes an agent will represent the buyer and the seller. A buyer who elects this situation should receive full disclosure on representation. In some states, dual agency affects the real estate professional's fiduciary responsibilities to the seller. The real estate agent you choose should fully disclose how they work with individuals and the options available to you.

Keep in mind that real estate laws differ from state to state and even from locale to locale. For more in-depth answers, talk with a knowledgeable real estate professional and ask about local practices. Be sure you understand and are comfortable with the services of the real estate agent you engage.