Gone are the days when you could put your house on the market and have several offers within the first two weeks. Also gone are the days of easy money, there must have been a correlation there. We can’t fret over the past, so what can you do to make sure your house is properly listed for sale?

1. A Thorough Analysis - chances are you do not have access to a bundle of market data other than what you may read in the newspaper. Your real estate agent does. A proper market review should look at the homes that are on the market in your neighborhood, and more importantly in your price range. There is no need to compare your $600,000 house with the one around the corner for $800,000. In this market homes in certain price ranges are selling better than others. What is the current inventory for homes competitively priced with yours and how many sold last month? This will give you an idea of how long it may take to sell your home and may affect your pricing decision.

2. Value Offered - in sales you’re taught to sell the “sizzle”, not the steak. What kind of “sizzle” does your house have? Here you look for things that create value, such as larger than normal lot size, updated kitchen and/or baths, central ac, fireplace, refinished hardwood floors, does the home have character, newer roof, updated plumbing and electrical. People will pay more for homes with greater value or amenities.

3. Property Condition - sometimes owners get used to living in their houses and begin to overlook and accept all of those little irritations that prospective Buyers may find annoying. First and foremost, make sure your home is clean and organized. I can’t stress this enough. A cluttered disorganized house makes people wonder what kind of neglect this house has endured for the past several years. It does not take a lot of effort to clean and maybe paint the front entry, mow the grass and place a few potted plants around the yard. Little things can make a huge difference.

4. Price it Properly - remember in the last article Aces High I discussed interviewing three real estate agents and being on the lookout for the one who quotes you the highest listing price. I have seen Sellers refuse offers that were below their asking price, only to have their house stay on the market for an extra 4-5 months. Now they are faced with a couple of price reductions and are chasing the market down. If they had only accepted the original offer, the house would be sold at a higher price than what it is still listed for today. Price it where properties are selling, not where the houses are listed for sale.

5. Develop a Strategy - accept the fact that if your house has been on the market for 45 - 60 days and you have not had a prospective Buyer visit your house in the last two weeks, you probably need to review where you are in the market. A price reduction is probably in order. Nobody anticipated the fall out from the sub-prime lending fiasco would be so severe. Sellers who made adjustments to market conditions have probably sold their house, while others continue to sit.

By utilizing these five recommendations in your efforts to sell your house, you should enjoy more success and reduce the mistakes others have made in the process.