So... Sellers,

How is it going out there?? Be honest. Remember that you are competing with about 14 months worth of standing inventory in the Kingman market currently. That is right by my estimations the absorption rate is incredibly high giving buyers in this market plenty of advantage in negotiations.

This is just a quick refresher on negotiation strategies. There are three basic principles to keep in mind.

1. Time -- What time frame did you have in mind when you decided to put your home up for sale?? Again, be honest with your needs for selling. If you need to sell because you are moving out of the area (job transfer, etc.) remember that 80% of concessions you make will come with 20% of the time remaining that you need to sell.
2. Information -- Buyers today want to know things that are important to make the best decision to purchase a home. That doesn't equal good news for sellers because the information I am speaking of is the time your home has been on the market. Buyers want to know how long you have been trying to sell and their follow up questions if they find out your home has been on the market for a lengthy period of time are; What is wrong with the home?? And, will the seller take less money in order to sell??
3. Power -- Sellers, in negotiation you have the most power immediately after you place your home on the market. Every day that goes by you lose negotiating power. You are currently competing against other homes that are just as nice (and even nicer - trust me) so what will entice a likely buyer today?? Please say price because it is the right answer.

Keep in mind that serious buyers make serious offers. If you are not getting offers your home is not priced right. This is the reality of today's real estate market. The market is always right, and the market never lies.

Remember the market wasn't wrong two plus years ago when all you had to do was walk outside your front door and yell out that you were selling your home and a swarm of buyers pushed and shoved each other to give you an offer on the home. You could dictate the time, the information, and you had the power because homes were getting serious offers shortly after you put your home up for sale.

Believe it or not you can still make what I just described happen in today's market... as long as you price the listing correctly.

Ask yourself this question... is your home 'on' the market or in the market?? Now look at the chart below.

Yes the above is the chart I normally post in my monthly sales reports (see here for last months). Once again there is currently 14 plus months worth of standing inventory of homes listed 'on' the Kingman market. More are added every day. Worth looking at on the chart is the blue and red lines.

The blue line represents homes 'on' the market. The red line represents homes that were in the market. If you need to sell today, when you call your friendly Realtor and have them give you information about the current market ask for two lists. One list should be the listings that are 'on' the market for sale, and the other should be a list of homes that were in the market (think closed listings). Pay no attention to the actively listed properties. Why?? Well did you want to price your home so that yours sells or your neighbors?? Do not forget that you are competing with far more sellers for not so many buyers at this time.

I'm not in a position to apologize for the current market condition as I have nothing to do with market forces, it is what it is (I hate that expression). The market rules the day and it doesn't care about your wants, but you can use the current market information to take care of your needs.

Now I know that you could find a representative that will be all too happy to place your home 'on' the market, but you would be better served if you found a representative that will place your home in the market. I hope you better see the difference.