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How to Sell Your Home

in a Buyer’s Market

(and Get the Best Price Faster Than Anyone Else Around)

Economic times have changed. The real estate marketplace has changed … and so must your home-selling strategy. It’s simple logic, really — but so many sellers just don’t “get it.” You don’t have to be one of the pack. With my Market Smarts for Home Sellers free in this guide I’ll update you on:

If selling your home has been on the horizon, you’ve probably paid attention to recent housing reports causing headlines like these:

Yes, it’s true: the five-year boom market is over. It was an anomaly of such magnitude that it’s now taken its place in the history books as what economists say was a once-in-a-lifetime occurrence. But in the marketplace today sales are flat,
with the number of homes for sale far exceeding the number of people wanting to buy them.

… And like so many other homeowners throughout the

country this leaves you on the horns of a dilemma:

“Where Have All the Buyers Gone?”

That, my friend, is a very good question, and home sellers all across the country are asking it. But unlike in the song, the answer isn’t “blowin’ in the wind” — rather it’s hidden in the pay envelopes of American workers at every income level
except the very top. According to the Labor Department, pay increases over the last three years have not been enough to offset inflation. This is true even for those earning as much as $80,000 a year. At the same time, corporate profits and salariesof top executives have reached all-time highs.

… So how does this affect selling your home?

What this means in real life at the grocery store and gas pump is that although bank balances may be more, the cost of goods is too — sometimes much more — and so people can buy less. For example:

          gallons or less, depending on where you live …
          yesteryear’s mortgage payment to buy less house today …

Simply put: Most Americans cannot afford to buy a home.

And many who’ve already signed on the dotted line are losing them to foreclosure, which — according to Realty Trac — is up 25 percent.

… But what about the increases in average family

income cited by leaders?

The gains they refer to are the result of increases for those at the very top income levels, which pull up overall numbers and paint a picture that simply doesn’t ring true when driving through neighborhoods filled with “For Sale” signs. And
verifying what you see with your own eyes, the National Association of Realtors (NAR) reports the current 14+ month supply of homes on the market is the largest supply of homes for sale since 1993.

Now for the good news … It’s not as bad as it sounds.

Houses are still selling, and although prices are soft, most are holding steady with only slight decline, and some are even gaining, albeit very slowly. This means your home is probably still worth more than you paid, if you’ve been in it a year or two. But to cash in on your profit, you do have to sell. And all those other “For Sale” signs in your neighborhood mean you’ll be competing with your neighbors for the attention and interest of a smaller group of buyers who have less money to spend on monthly mortgage payments.

These buyers are very price conscious

… and now with so many homes on the market …

they can — and do — take their own sweet time

to shop and compare.

Plus, these price-conscious buyers composing the current market have taken on a special importance. They — and they alone — determine your home’s real market value (defined as the highest price a qualified buyer is willing to pay for your home right now).

But despite the buyer’s new top-dog status, once you’re armed with the up-to-date information in this guide’s Market Smarts for Home Sellers, YOU can avoid the marketplace pitfalls other — less-savvy — sellers succumb to …

1. MARKET SMARTS FOR HOME SELLERS

The Biggest Blunder Home Sellers Make that Keeps the

“For Sale” Sign in their Yard Way Too Long.

When you’re serious about selling your home in a buyer’s market, what’s better than getting your asking price?

Consider these important points:

Why is this?

Many important decisions weigh heavily on a home seller’s mind:

Sellers have three choices when setting the asking price for their home:

1. Below market value
2. Real, or current, market value
3. Above market value

… and the biggest blunder they make

is to take a negotiating stance when making this choice …


They say to themselves, “Well, I know prospective buyers won’t give me a full-price offer, so I’ll price my home above market value and have room to negotiate down.”

This SEEMS so logical …but when you dig a little deeper, you realize sellers do themselves a grave disservice with this line of thinking … because that higher price causes agents to exclude the home from those they show. With so many homes to choose from today, agents simply will not waste their clients’ time by showing homes that are overpriced.

In today’s marketplace, if your home is priced

more than one or two percent over real market value …

… the amount of activity on it will be almost non-existent.

Market statistics show that the homes being sold are the ones priced at or slightly below real market value.

So, be market smart …

You can see that at this point,

it’ll be much easier for you to stay strong,

saying “You know, I really priced it right, so I’m not going

to drop it much.”

Whereas, a seller who takes a negotiating stance by pricing his home

above market value …

So in a buyer’s market, what’s better than finally getting your asking price? It’s getting
your asking price in the time frame you need to move on to the new chapter in your life.

But this raises the question of how to determine your home’s real market value—
which is coming up next …

2. MARKET SMARTS FOR HOME SELLERS


The Surprising Way Home Sellers Unwittingly

Sabotage Selling Their Home.

Faulty logic isn’t the only thing leading home sellers astray these days. Emotions, too, play a key role in keeping the “For Sale” sign planted firmly in their yard. And as much as most people would like to think of themselves as purely rational beings, when it comes to selling their home, this simply is not the case. And here’s why …

Home ownership is at the heart of the American Dream … your home is your castle. And it’s filled with cherished memories of inestimable worth. Your home is also a huge chunk of your financial wealth. If you like your home, it has features that made it especially attractive to you at the time of purchase. And you’ve probably spent untold time and effort getting it just right — not to mention your expense.

Overestimating value becomes easy …

Understandably, such an investment makes it easy for you to overestimate the value your personal upgrades will have for buyers.

Consider, for example, a seller who builds a wood entertainment center in the family room exactly the way she wants it … the wood color, the design—both are what she wants. And it’s the exact size for her TV. Maybe it cost her $10,000. As a seller, she may think, “Well, I should at least get the $10,000. Plus, the buyers won’t have to go through the weeks of
mess it took to build it and it makes the house so much more livable, they really should pay me $15,000 for it.”

Fast Forward to a Showing:a buyer comes in, sees the entertainment center and says,“Gee, that’s nice … too bad they didn’t use a lighter wood [or darker wood]. That’s a real negative to me. I may have to tear it out.” — or it doesn’t fit their TV, or the design is too contemporary, etc.

Nor does emotional value translate to monetary value …

The line between emotional value and real monetary value can easily become blurred once you decide to sell. For instance, a seller who lives next to a school might say, “I love living right by the school.” And some people may pay a little extra for that, but for just as many people, being next to a school is a huge disadvantage because they imagine the noise, the traffic and people in their yard.

So, you may be surprised to discover that for every advantage you see in your home, buyers can see a disadvantage. Right about now, an objective viewpoint becomes crucial because …

… when it comes time to put a price tag

on the “brick and mortar” structure

that’s safeguarded your very life and the lives of those you

love, rational reasoning usually takes a hike …

But we’re all only human, and you’re certainly not alone in dealing with this … because it not only happens to home sellers in general but is also known to happen to home sellers who’re real estate professionals by trade.

Every buyer’s market has its stories of agents with nice homes who’ve spent years making them better — but when selling in a buyer’s market, their emotional attachment outweighs everything they know about what works in that marketplace. And like any other home seller with a huge emotional investment, they overprice. Consequently, their home sits on
the market with little activity because buyers have so many other opportunities.

… So, how can YOU prevent this quagmire of emotion from

sabotaging YOUR intention to sell your home

in the current buyer’s market?

Despite equal vulnerability to emotional sabotage when the home being sold is her own, a quality real estate professional will help you balance this potentially self-defeating mix of emotions with sound thinking and expertise. A quality agent serves you as the voice of reason at a time when detaching from your feelings is difficult, if not impossible.

When it comes to establishing your home’s market value, your agent has valuable insight gained every day from observing buyers’ emotional response as they first enter and then tour a home. She sees firsthand their emotional response to:

Your agent will know that if your house has a bad carpet color or it’s really dark, you’re going to get significantly less value from it, because people walk in and their emotional response prevents them from seeing past the negatives. Your agent’s insight into how buyers respond gives you a huge advantage in the marketplace.

In today’s marketplace, it’s all about reality …

If your home isn’t priced so that a buyer looking at it will say, “You know, that’s a fair price for this house,” then you’re going to be in trouble.

So, be market smart …

So, in today’s buyer’s market, there’s no room for viewing your home or the marketplace through rose-colored glasses. That is, not if you’re serious about attracting qualified buyers so you can move on to the new chapter in your life.

And this prompts the question of how to attract buyers who want and can afford the
specifics your home has to offer—which is coming up next …

3. MARKET SMARTS FOR HOME SELLERS

The Single Most Powerful Tactic Home Sellers Miss for Attracting
Qualified Buyers Who’ll Find Their Home a Perfect Fit.

A buyer’s market can easily seduce home sellers into thinking they’ll save big by not paying an agent’s commission fee. And so they go it alone with a FSBO (For Sale By Owner). But problems arise when the buyers they attract are hunting for a bargain too, hoping to pay a price that’s lower by AT LEAST the amount of an agent’s fee. And since it’s impossible
for both the buyer AND the seller to save the SAME commission fee, the seller usually ends up selling for less.

Plus, the bargain hunters attracted by a FSBO are more likely to assume that without a professional agent’s advice, the seller doesn’t really know the home’s market value, so they offer the seller considerably less.

FSBO sellers often feel insulted by these "lowball" buyers

... and here's what usually happens next...

          any degree of skill, and …
Statistics show that the majority of sellers who start out as a FSBO end up listing with an agent in thirty to sixty days precisely because of the low-quality buyers FSBO attracts — everything from lowballers to tire kickers to window shoppers who couldn’t afford to buy without first striking oil..

What about selling over the Internet?

This is certainly an option. However, as the market goes down, the number of homes for sale goes up. And when buyers go online, they find hundreds, if not thousands, of choices, which causes buyer overload.

Buyers who shop online today discover that finding a home is an overwhelming choice. Statistics show that the majority of homebuyers who initially shop the Internet turn to a real estate professional for help with making the best decision. Buyers go to agents because they know they need somebody to help them compare homes and guide them through the
whole decision process.

Tap into the mother lode of homebuyers …

Since it costs buyers nothing extra to use an agent, it’s to their advantage to do so. And THAT’S where you’ll find them — shopping for a home with their real estate agent.

So, be market smart …

          tried to sell it yourself and it didn’t work out, it’s not too late to go now.
          other agents.
So, if you don’t have the time, patience or money to waste on lowballers, tire kickers and window shoppers, call a quality agent in your community who’ll connect you with qualified buyers. You’ll save yourself a lot of headaches, not to mention potential trouble resulting from all the little details that — if not handled properly — can come back to haunt you.

This raises the question of how so many home sellers leave themselves open to litigation—which is coming up next …

4. MARKET SMARTS FOR HOME SELLERS

Why Bad Sales Happen to Good People.

No home seller wants litigation … no! But it’s easy for home sellers to forget that a home sale is a legal transaction governed by both state and federal laws and regulations that are subject to fairly frequent change.

Buyers and sellers are natural adversaries …

The legitimate self-interest of buyers and sellers gives rise to a natural conflict occurring from the differences in what a buyer is trying to accomplish and what a seller wants to happen.  The legal rules are meant to keep this conflict to a minimum.

But when sellers and buyers deal directly with each other, the

possibility for misrepresentation and misunderstanding

leading to legal trouble increases exponentially …

Consider, for example, a buyer touring a seller’s house who asks, “Is your roof sound?”  And the seller responds, “Oh yes, we’ve got a great roof. ” But he fails to mention there’s been a tiny leak for the last couple of years on one of the eaves outside. And since it doesn’t really affect anything, he doesn’t bring it up. So, the buyer buys the house. Three
months later, there’s a huge rainstorm, and that one little leak on the eave suddenly breaks into the kitchen.

But because the seller didn’t think the leak important enough to disclose, AND, he didn’t have an agent there saying you’ve got to disclose that no matter what, he left himself wide open for a lawsuit. Now, suddenly, he’s being dragged into court. And he’ll have to spend more than he would have ever paid an agent … who would have considered all his possible
legal issues.

So, be market smart …

This leads to the question of how to identify such a quality agent within your community—which is coming up next …

How to prevent the buyer-seller tangle from becoming

dog-eat-dog so you get your asking price the first time around.

Selling your home is said to be one of the top ten most stressful events in life. And if truth be told, selling in a buyer’s market could push the event into the top five. This is because of the high degree of uncertainty and the potential for conflict a buyer’s market brings into a seller’s life.

So it’s easy to see why home sellers today place such a high premium on the real estate professional they choose to guide them through the process, keep the peace and negotiate price with buyers AND make everything happen on time and in the proper order. Here’s a list of some of the services a licensed real estate agent will perform for you:

If this were all your agent did for you, it would be enough to demonstrate the difference this one choice can make in determining whether you have the superior home-selling experience you’d prefer. But to select a quality agent who’s also right for you, there’s more to consider.

So, be market smart …

In this guide you’ve already seen the complexities of the marketplace and the difficulties arising from the need to price your home realistically for the market you’re in. Many of the decisions you face are emotionally charged. And this at a time when sound logic and strategic thinking are critical to selling your home in the time frame you need. But before
all others, selecting a quality agent is your most important choice.

There are three main keys to identifying the quality agent who’s right for you: (1) rapport, (2) personal marketing and (3) experience and respect within the real estate community …


It’s quite possible for one agent to be disastrous for some other home seller but be perfect for you. This is because the relationship is based on rapport—that agent’s ability to communicate and to meet the specific needs you have as a seller.

So, look for a good emotional connection first … because if you have an agent you’re nervous about … or you struggle to communicate with … or you’re just a little bit at emotional odds with — selling your home can move to the very top of the list of life’s most exhausting and stressful experiences.
Ask yourself if the professionalism and quality of these materials instill you with confidence in the agent.

Looking through an agent’s literature will pinpoint her level of quality because it demonstrates whether he or she’s taken the time to do her homework and tend to the details. Does he or she have a buyer’s questionnaire? A seller’s questionnaire? Is there a personal brochure that articulates the personal philosophy of doing business — not just a resume — but the business philosophy? And when you read it, do you get a good feel for who they are?

MARKET SMART ALERT: An agent who does not market himself effectively

is NOT likely to market your home effectively!


Well, that’s it for current market smarts. Just remember that selling a home today is all about realistic pricing — painful as it is. So, be market smart … when you follow the selling strategy described in this guide and you have a quality real estate agent workinghard for you, you’ll get your home sold for the highest price possible in today’s marketplace
for the time frame you need. Then, you can move on with PEACE and JOY to the new chapter in your life!


Chuck Daily

Resort Brokers Real Estate

100 S. Main St.  Box 71

Breckenridge, CO, 80424-0071

1-800-441-6954

I make you these 5 solemn promises

when you become my “Client for Life.”


Dear Friend and Neighbor,

Are you ready to see what your future holds? If your plans include selling your home and
moving on to a new chapter in your life, I can help you accomplish this—despite the current
buyer’s market.

Every market — whether hot, normal or cool — holds unique challenges requiring special
market insight and skills to overcome them. I have the market know-how to steer you
through the choppy waters of today’s marketplace.

I sincerely hope you’ll give me a call. I want to be your real estate agent for life — not for
just your next transaction. This means that at all times I will represent your interests with
both your future and your total satisfaction in mind.

When you become my “Client for Life”, my staff and I solemnly promise to do everything

within our power to …

1. Sell your home in the time frame you need …
2. Get you the highest price possible in today’s marketplace …
3. Market your home to other agents so that together — as your marketing network
    — we can bring you only qualified buyers who will find your home a perfect fit …
4. Tell you the truth about your home and the current marketplace even when I know it
   may be difficult for you to hear, and …
5. Protect you by covering every legal and regulatory base required.
   If the past boom market taught us anything, it’s this: no market lasts forever. Right now,
   home prices are holding fairly steady, and no economists predict deep price declines. So, if
   you’re planning to sell, I want to help you get every dollar of profit you have coming. But
   don’t wait until it’s too late. The very fact that no market conditions last forever is reason
   to call me right away.

Yours for a stress-free home-selling experience,


Chuck Daily

P.S. Who says the home-selling experience can’t be one of ease and enjoyment? Give
me a call and I’ll prove them wrong. LET’S SELL YOUR HOUSE!