Buying and Selling a Home in a "Buyers Market"

The rules change for the "Buyer" and "Seller" when you are in a "Buyers Market" and knowing these new rules will increase the probability of success for the "Buyer" and "Seller". The generic definition of a "Buyers Market" is "The condition that exits when a buyer is in a better position as to price and terms because the real property for sale is in greater supply in relation to demand". When this condition occurs Real Estate Agents need to educate their "Buyers" and "Sellers" on new strategies to be successfull this market.

For the "Buyer" they should request contingencies, ask for an allowance or credit, reduce your closing costs, request extras, shorten acceptance period. For the "Seller" they should, price the home according to the current market, offer a seller's contribution, make their home more marketable.

You have to be creative in this market if you are going to be sucessful especially for the "Seller" who can be in a very stressful situation with falling home values and a weak economy. Real Estate Agents can be hero's in this market however they must change the way they market properties.

A summary document on strategies for the "Buyer" and "Seller" in a "Buyers Market" is available upon request.