3 secrets for selling in buyer's market

Homes aren't selling like hotcakes any longer. Buyers are choosy.

Prices are soft. What can you do to speed the day when that sign on your lawn will say "Sold"?

1: Set a realistic asking price.

In a seller's market, brokers say it's often possible to ask for more than you expect to get. In a buyer's market, you can save valuable negotiating time and attract more buyers by making your "asking premium" closer to what you're willing to accept.

Before setting the price, learn all you can about your micromarket. Your agent can research recent selling prices for similar local properties. But thanks to a new wave of real estate websites, buyers too may be familiar with prices in your neighborhood. To become as sawy as they are, check out sites that cover your area (try Zillow.com, Domania.com or PropertyShark.com). Hit the road and spend a weekend looking at houses for sale within a 10-minute drive of yours.

You can order an appraisal for a specific idea of what your home is worth. But it may be more useful to pay $150 to $500 for a professional home inspection, which will look for defects that reduce your home's value. If nothing needs fixing, you can promote the inspector's clean bill of health to prospective buyers.

2: Use creative salesmanship.

Offer an incentive so buyers feel they're getting a better deal. For example, you might consider paying points or closing costs, including the appliances, giving a carpet allowance or accepting an offer contingent on the buyer's own house selling first. A competitive edge like this can help you sell your home faster without having to lower the price.

3: Help buyers to like your house.

Start by eliminating reasons for a buyer to say "no." Real estate pros say that most buyers decide in a few seconds whether a house appeals to them. Make the first impression more attractive by mulching flowerbeds, pruning shrubs, and cleaning up clutter. (See "10 ways to help your yard spring into beauty.") The entryway in particular needs to be inviting, with fresh paint or upgraded lighting if needed.

Inside, focus on sprucing up your home so it's in move-in condition. That means washing walls and windows, polishing scuffed wood floors, fixing dripping sinks and deodorizing pet smells. If you're on a tight budget, get the most impact for your investment by replacing things that could immediately turn off a critical buyer, such as stained carpet or battered countertops.

Also, think about what could make your house memorable. That comfy window seat? The built-in bookcases? The entry with the river stone floor? Discuss these elements with your agent, so she or he can be sure to point them out in a showing. If a buyer forms an emotional attachment to an unusual feature of your home, you have it made.

The most important advice for a seller these days is to be patient. Ask your agent how long your home is likely to be on the market. With luck and the help of these three guidelines, you'll see that "Sold" sign long before then.