the current situation of supply-and-demand in your area? Is it a buyer’s market, with a glut of homes from which buyers can choose? Or is it a seller’s market, in which homes in the buyer’s price range are in short supply? Be aware that the real estate market can change quickly, so educate yourself about current market conditions in your area. Is a major development opening soon that will increase the availability of local housing? Are there plans for a school or retail area or highway or green belt that will change the complexion of your neighborhood? Does a major employer plan to shut their doors and transfer hundreds of workers out of state? Did your city government approve a new master plan for your area? If you’re unaware of developments that could have a deep impact on your sales prospects, you’re conceding a significant advantage to a better-informed buyer. Stay abreast of local news, especially the news in the business and real estate sections of your local newspaper. Here again, a knowledgeable real estate agent can be of inestimable value by staying on top of current plans and trends.
NOT SPEAKING THE REAL ESTATE LANGUAGE
Knowledge extends to real estate terms, too. Don’t allow yourself to be dazzled by a buyer who is more fluent with real estate terms than you are. At the very least, study the glossary of real estate terms in Chapter 16 and do some research of the concepts you find confusing. A trusted real estate professional is always a good place to start. Remember, knowledge is power.
NOT BEING CLEAR ABOUT YOUR GOALS
What are the main objectives you want or need to accomplish with the sale of your home? Write them down and keep the written set handy. Are you downsizing for retirement? Dealing with a divorce settlement? Moving out of the area for a job opportunity? Is it
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