So, you want to sell your house? Are you sure about that?

I'll be talking about selling your home in a series. So make sure you check back every day for more on how to sell your home!

We're in a strong buyer's market right now, I'm sure you've heard that term used somewhere recently. But, what does that mean? How does that effect you and your sale?

A buyer's market simply means that the current market conditions provide opportunity to side with the buyer, not the seller, or, there are more homes for sale than there are buyers.

Think about it like this: On your way to work, you realize there's now 8 vendors selling hot dogs within a 1 mile radius, where a few years ago, there were only 2. When there were 2 vendors, you as the buyer had 2 choices, take it or leave it. The prices/features/services were what they were (that's a sellers market)....but now, things have changed.

While these 8 vendors are all selling the same product (hot dog)(house), they all offer slightly different features/service (New York style, Chicago style, etc)(granite versus pergo, tile versus hardwood, etc.). You realize not all 8 vendors will be successful, some vendors will become more aggressive with their approach to draw buyers to their business. In order to stand out, some vendors will offer deep discounts, incentives, other attractive features to draw a buyer to their product. Those vendors that understand this concept, will stay in business.

Much like selling your home, if you understand what you have to do in this market to sell your home, you will sell it.

Here's another shorter analogy. You're a buyer going to a department store. Where do you stop first? The brand new arrivals not on sale....or the back sales rack? Most of us, especially in these economic times, head to the sales rack. The department store sells a product, and you need to look at your home as a product. If you need to sell it, it has to be on sale!

Ok, that's what a buyer's market is - more product than buyers - if you're selling something, it better be in great shape and on sale!

So, step one after you determine you need to sell your home is to see what your competition is. It surprises me how many times I hear from FSBO's that they priced their home and spend hundreds on marketing without ever checking out what price their neighbors were selling!

If you would like information on sales/listings in your neighborhood, visit my website at www.jensellsmemphis.com, send an email at jennifercarstensen2008@yahoo.com or give me a call at 901-201-0280 and I can send you a no-obligation report to help you with your decision.

As your Memphis Realtor - I have high expectations, and so should you!

Jennifer Carstensen
Keller Williams Realty
1255 Lynnfield Rd St 100
Memphis, TN 38119