Here they are:

TRUTH #1: The first one to sell, WINS. As the market stays soft, the winners are the ones that were able to get their homes sold. The market could continue to go soft, meaning every month, your house is worth less every week. The market will turn around someday, no question about it, but for today, it's a Buyer's market. The greatest secret is to whatever it takes to get your property sold. I hope you will be able to use the Tips I've provided here, plus other articles I've written, to help you get your house SOLD.

TRUTH #2: Realize that every market is different. Your area, your town or neighborhood could be the coldest, slowest, softest market in the Country, or buck the trend entirely and stay pretty hot, or at least stable. There really is no national market. There is only a patchwork of local and regional markets. Don't assume your market is the same as other Cities or other States. Do not compare your market to where it was a year ago, not even 6 months ago; as most markets are changing every month.

TRUTH #3: Prepare yourself mentally for a Buyer's Market. Accept that the market will set the sale terms. Don't take it personally if you don't get the price you expected. Seller's must accept what the market is doing, and make the most of it. It doesn't have anything to do with you personally; it has to do with the market. You're going to want to prepare to be flexible. Be flexible on things in addition to price. The move-in date, for example. If it helps you sell more quickly by moving out earlier than you want, consider it seriously. You never know what people might want to do to make it convenient for them. If the buyer wants something that isn't hard for you to give, that's something in your favor. Maybe the buyer wants to store furniture in your garage before moving in or wants to make the purchase contingent on selling his or her own house. If you have flexibility, you have an edge. A month or two of inconvenience will surely be worth it down the road. Think like a buyer.

TRUTH #4: Calculate your holding cost: Many Sellers don't look at the holding costs of keeping a home while it sits on the markets for a few to several months. That concept won't matter unless you are not in a hurry to sell, but if you need to sell quickly, it can make huge differences. Holding costs normally includes the Principal, Interest, Taxes & Insurance (PITI), not counting any Home Owners Association dues. Add to this the amount that property values are declining in value on a monthly basis. Then ask yourself is it better to hold or wait or is it better to take the "hit" up front, rather than prolonging the issue.

TRUTH #5: Buyers in this market will be picky: All real estate agents will recommend that we improve our homes' curb appeal. Buyer's feel they can take the time to be picky. In this market, buyers are more sensitive to things that are dated, such as kitchen cabinets, light fixtures, bathroom fixtures, etc. If they walk into a home has the 1970s Oak Cabinets or amber light fixture, they'll think, 'This house feels old,' and look at other updated properties. It's easy and inexpensive to replace some basic light fixtures. And for many buyers, the list continues. Scuffed hardwood floors, carpet stains, sinks that drip and even torn window screens. We don't see the items in our homes that we'd like to update, but haven't. Ask your realtor or friends to come give you advice on what to fix-up. When you put your home on the market, it's too late. The first 30 days is really important. Get your home updated before putting it on the market. I suggest to start making repairs that are profitable in terms of selling the house for top dollar. Best money spent will be bathrooms and kitchens.

TRUTH #6: The First Offer. In a Buyer's Market, it is becoming more apparent that the first offer ends up being the best offer. So many people choose to wait for a higher/better offer, only to let several weeks/months pass and finally accept an offer that is lower than the original offer. Be very clear when passing on your first offer. Be open to negotiating with your first offer, yet not let the Buyer slip away.

TRUTH #7: Stay on top of the market. It is important to stay aware of what your market is doing, especially your competitors. So man agent talk about "Solds". Those are a great way of testing history, but "Solds" aren not your competitor, the current "Listings" are. Check out the other homes in your price range, see how you measure up. You'll also want to see what is happening with mortgages and financing, to see ways of assisting Buyers to buy your home. Talk to a seasoned Loan Officer or Broker about option you can offer Buyers to assist them in getting a loan easier to buy your home.

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