Some 4.9 million existing homes were sold in 2008, more than 13,000 a day. Other owners have done it and so can you.  A realistic marketing strategy can help you accomplish your goal.

1. Define Your Goal/Needs. Do you want the highest sales price -- or the biggest check at closing?  They are not necessarily the same.  If two homes sell for $300,000, but one owner pays 3% of the closing costs the owner who sold without such costs got a bigger check at settlement. The bottom line: To have a successful sale you need to look at both price and terms and an estimated seller net proceeds sheet can help you determine which offer most meets your needs.   Having a strong negotiator in your corner can be invaluable.
 
Ask yourself if refinancing or a loan modification can help you sustain your position until the house is sold. 

2. Marketing in Today’s Internet Age.  Over 84% of purchasers now use the Internet to search for properties, obtain seller disclosure forms, get tax and community information, and are more often than not represented by a buyer broker.   The result is that buyers are often better prepared than in the past.

Real estate marketing involves far more than a sign in the yard and an ad in the paper. Successful agents use a variety of methods to attract and qualify prospects, including the latest Internet and communication tools.

Your agent will use the personalized Nextage Property System™ to create a marketing plan for your home that will help distinguish it in your local marketplace and attract buyers to your property. The NPS also outlines a series of communication tools to keep you  updated on all aspects of the marketing plan. 

3. Know the Market and the Competition. Real estate is local despite all the statics you see and hear on the news.  National statistics can give you an overview but you need that same information about your local area.

Your agent can explain current market trends in your community, including what's selling, what isn't selling, and why. This information is central to getting the optimal price and terms.

Your property will be competing with other homes for buyers’ attention. Ask your agent how to be competitive -- and how to have an edge.

4. Be Realistic.  When interest rates are low and jobs are growing, it's great to be a seller. But when prices have declined and buyers are scarce different strategies most be employed.  Your agent will discuss different techniques to attract the “Most Likely Buyer” to your house.
Those techniques might include offering contributions to the cost of the transaction so the buyer doesn’t have to have as much cash or assistance in the financing options buyer’s have.  Consider the benefit of having presale inspections done on your home. It can be beneficial to the sale process if buyers know as much as possible about the property's condition before they make an offer.  Recently, a home seller in California decided not to have a presale home inspection done.  The house was priced right and staged for sale.  It sold for more than the asking price with multiple offers.  When the buyer's home inspection revealed a problem with the foundation a round of renegotiation started that ultimately resulted in a canceled sale.

It's a mistake to refuse to entertain any offer from a qualified buyer. In a buyer’s market, it's natural for buyers to make low offers. Don’t be insulted.  Many sellers would rather set a price and say take it or leave it. But, you'll never know what price the buyer will pay unless you negotiate.

Sellers who are fortunate enough to receive more than one offer usually go with the highest price.  But, the highest-priced offer isn't always the best offer.  The turmoil in the home mortgage business has resulted in an increase in failed home-sale contracts due to financing issues.  Make sure the buyer has a pre-approval letter from a reputable lender and consider accepting an offer in backup position in case the first deal falls apart. An offer from a buyer with a large down payment but a lower price is often a more solid deal than one with a higher price and a smaller cash down payment.