Reports across the country suggest that real estate in most areas of the country is no longer appreciating at the rates seen in the past few years. In fact, the National Association of Realtors reports that nationwide existing home prices were actually down from a year earlier. None of this is terrible or awful unless you bought last year and must now sell. Or, you need to sell FAST.

So, what's the best approach to selling in today's market?

Buyers are hard to come by relative to home supply.
While sellers have been in the drivers seat for the past few years, that's no longer the case in most markets. This is not a big issue -- Sellers now need to adjust. Make your home the most attractive, best priced property in the neighborhood. While home preparation time could have been ignored in the past, today you have to paint, clean-up repair and landscape before offering a home for sale. While in the recent past Buyers only had 3-5 homes to choose from, now they have in excess of 30 homes to choose from. What will make your home stand out in the crowd?

Out of pocket Cash for home buyers.
While home prices may have slipped a touch, real estate continues to be hugely expensive for most buyers, especially first-timers who lack equity from a prior sale.

Rather than reducing prices, offer to pay for buyer closing costs, therefore lowering out-of-pocket purchaser cash requirements. Or, offer to pay a point on their interest rate, therefore reducing their monthly mortgage payment.

Choose the right Agent.
When comparing local brokers, look for such markers as recent success in your neighborhood, a high level of local activity and professional education. In a slow market picking the right listing broker becomes especially important because a broker with a strong local history is known and respected.

Real estate sales are a direct result of exposure.Therefore when considering a listing broker you need to review the marketing plan with care. What, exactly is the broker going to do in terms of advertising, open houses, MLS placements, online marketing, broker relations, etc?

Remember that the marketing plan which works for one property may not work for another. Plans need to be specific to local markets, to particular homes and for current market conditions.

It's a business deal - don't get emotionally attached.
I constantly see homes priced for reasons that just won't work:

The property must sell for this price because I need a certain amount of cash for the next home...

Or I have put so much money into this home therefore it is worth so much more...

The truth:
Prices are established by the marketplace, not seller needs.

Similar homes in a different neighborhood command a particular price, therefore my house should sell at the same price.

The truth:
What happens elsewhere is irrelevant. What happens in your immediate neighborhood is only what counts.