Selling your home today takes real guts, but you know what they say - no guts, no glory!

Making the decision to put your home on the market right now is pretty brave, you have to admit. For months and months homeowners have been telling agents and their friends that there is no way they would sell and "give away" their home after the market turned and they watched their equity dwindle. But, are you really giving away your home if you sell right now, or, maybe, are you taking advantage of a unique set of circumstance that may not come along again for a very long time (we hope)?

The bottom line is what matters right? If you sell today, and let's say that all things being equal you get top dollar for your home, you then have an opportunity to shop a market that you wouldn't have been able to shop just a couple of years ago. More choices, lower prices, sellers are more motivated, banks are negotiating when they NEVER would before - I just don't see a downside here. Yea, you may get 20% less but you will probably SAVE even more on your purchase. It's definitely time that many homeowners who have been ready for a move but remained "on the fence", look at the situation with fresh eyes - it may be the best decision you ever made. Buying at the top of the real estate market is fine but buying at the bottom is really, well, just plain BRILLIANT!

Make the market work for you on the sale of your home by following these simple guideines:

1. Don't go into this feeling like the sacrificial lamb. It may seem like everyone is out to pull the rug out from under you and leave you with zero equity. Don't toss money out the window because of poorly made decisions during the sale of your home. Find a great agent that makes a great match for your personality and what you are looking for in the agent who will market and sell your home. You can call the #1 agent in town but if you can't get along with that person how well will this process really go for you?

2. Clearly know why you want to sell. Separate emotion from actual goals. This is a business transaction and when treated as such you can better evaluate your options to negotiate the best results.

3. Evaluate your own property objectively. Pad and pen in hand, walk around as if you were buying it all over again. Make a list of things that you would want to change or repair. Start knocking these out before and while you are on the market. Everything you do removes a possible buyer objection if done right! People often say "why would I spend money on this house when all of my equity is already gone and it's cheap enough?" Don't whine. If you are gong to do this, make it work FOR you, not AGAINST you. Prove all the naysayers wrong, not right.

4. The first impression of the general appearance of your home, the curb appeal - this one simple thing will bring buyers to your door, or turn them away and you are in COMPLETE control of which one occurs! Increase the number of buyers who want to see your home; increase the number of agents who want to show your home because it appears easier to sell; increase YOUR chances of getting the best price. If you are against doing much to prepare for market, spend some cash on your appearance from the street. That one picture - we call it the "front of house" pic in the biz, either gets you tossed into the pile for showings, or passed over. I don't have to name all of the things to review here - it just needs to look as close to model home or new as you can possibly get it - if that means power washing, painting, replacing damaged wood or shutters, trimming hedges or maybe replacing overgrown shrubs, thick fluffy mulch or pine straw around everything - do it - you won't spend much and it will be the best money you EVER spend, trust me.

5. Pricing - get it right from the beginning or selling in this market might just backfire on you! Well over a year ago a friend of mine took a listing - great newer home, great area and schools, like new condition, and they had already been on the market with another agent for over six months without selling. It was the price, plain and simple. These sellers were determined not to be swayed - they were going to get X amount for their home. Agent and sellers met in the middle on price. The agen said she listed it $10K higher than she thought it should be - and sometimes we have to do that so that sellers see for themselves how the market is going to react. Most of the time homeowners wake up - they understand you have worked hard to market and sell their overpriced property and they begin cooperating to get the job done.

The #1 agent and ALL of the advertising in the world isn't going to sell an overpriced home - it just doesn't work. We all know about appraisals and comparable sales, but for some reason when it comes to selling OUR home, we toss those facts into the wind!

Here's a quote that I ran across years ago when I first entered the business and I can't even remember where I got it but it's so on point: "all of the economic realities that affect your home's market value are reflected in the prices of recently sold homes." That pretty much says it all. Don't just look at prices when you evaluate recent market activity with your agent, look at the number of days on the market.

The homeowners I mentioned above ended up passing up two fabulous offers from 20% down, well qualified buyers because they didn't want to pay closing costs.

If you focus on an unrealistic goal, what usually happens? If you ignore the facts, are you then simply hanging your hat on hoping for a miracle? Yes, that's about the size of it. The home I'm talking about is still on the market. The price has been reduced numerous times, offers have been rebuffed, and it is currently OVER $15K below what they could have sold for nearly two years ago. These sellers haven't even lived in this house for well over a year.

What was accomplished through this agonizing passage of time? They paid taxes, the mortgage, insurance, utilities, the HOA fees, repair and maintenance costs all these many months. In addition to price reductions and all of these unnecessary carrying costs, while chasing the market, what do you think buyers and agents are thinking when they see this house that has been on the market for quite literally, YEARS! They probably think something is wrong with it. How likely is it that NOW well qualified, serious buyers will even CONSIDER looking at this property?

Have you ever heard of "stigmatized" properties? I have just given you the best example of how that happens.

6. Selling the house yourself is not an option right now. I'm talking about FSBO. Not going to happen. That's a whole other blog for me to write!

7. By the way, we touched on agent selection in #1 but this is worth pointing out - this is NO TIME to be giving your listing to your best friend's son who just got into the biz, "on the side" because he lost his job and needs to try to make some more money. That's also a whole other blog that I need to write! I'm sorry, I feel for anyone in that situation and we all start somewhere, but you aren't going to do him any favors - anyone trying to launch their real estate career in this market is kinda nuts, seriously. They may find themselves with the time, but that's where their preparation for the task at hand ends.

8. Work with your agent to stage the home to improve your chances of selling. You've heard this before - it's a product now and just opening the door and sticking a sign in the yard is not going to work.

9. If you must replace something, go mid model from well known manufacturer. If you make repairs or replacements that are shoddy or cheap, it actually hurts your salability on top of costing you money.

10. Disclose, disclose, disclose. Buyers are looking at mostly foreclosures right now in our market. Maybe yours also. They get no disclosure - what they see is what they get. You add value by this one simple act - giving them information that they cannot get on competing properties. There really is no "bad" disclosure in my opinion. If you had a flood and everything was replaced and repaired, what's the harm in the buyer knowing? It's material and the buyer has a right to know. I have NEVER seen a buyer walk away from a property they loved because something happened in the past and the seller told them about it. If they know, they can inspect and find a comfort level BEFORE they buy. If they find out AFTER you close, you may be meeting one of the local attorneys sooner than you ever wanted to.

11. Every seller is asking right now - will I get lowball offers? Truthfully, you might, but that holds true in any market. Your agent can help you evaluate each offer, just remember. . .it is not all about the price offered. Don't get me wrong that is important but other factors can be equally important and shouldn't be ignore. Making a counteroffer may not be the best idea if you only stand to gain something small - again, discuss options and evaluate your strategies - every offer and every buyer is different.

12. Ask your agent to review a copy of the purchase and sale agreement when you list - read it, ask questions, and understand the entire process BEFORE you are faced with making decisions about offers. It can really make a difference in how you might respond to what might otherwise be viewed as a weak offer.

Good luck, be brave, keep your chin up and reap the rewards of venturing into this market as a seller - give those banks a run for their money!