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Selling in a Declining Market

Here is what you need to know to become a successful seller in a declining market, in under one minute.

1. Know your competition, it's not enough to keep an eye on the new properties coming on the market. As inventory levels rise past 7 months of supply, your current competition will start reducing their prices

2. Price for success. Much like a fly ball, when the market is coming down there is only one way to catch it. You have to get under it. Price for tomorrow, not for today.

3. It's "give and take". It may hurt a little bit to sell for less than your neighbour did last year or even last month. Just understand that you are going to make up for it with your purchase.

And last, remember... this is just the next step. Everything is going to be okay.