"I don't want to work with sellers in this market! I only want buyers!"

If this sounds like a familiar phrase, it might very well be because you've said -- or at the very least, thought -- it yourself. And if you have, you're hardly alone.

Lately, I've heard that sentiment from a growing number of agents nationwide, in markets large and small, urban and rural, as we continue to witness a shift from a seller's market to a buyer's market.

That sentiment is understandable for three very good reasons:

1. Despite mounting (some might say overwhelming) evidence, many sellers still haven't realized the market has shifted, and not in their favor. They hang onto unrealistic price expectations, even though their agents have tried to educate them with a good CMA.

2. Homes are sitting on the market longer -- in many cases, much longer -- than just a year ago. It may now take 120 days vs. two days to sell a house. Understandably, sellers are frustrated that their home hasn't sold when their neighbor's house (which of course, isn't a nice as theirs) sold in a few days -- 8 months ago!

3. It is expensive to market their listings for several months. Sellers still want to see their home advertised in print media, which is expensive and, increasingly, ineffective. That's because these days, the vast majority of consumers first go online to look for homes because of the sheer amount of information available. Sites offer a treasure trove of information, including aerial photos of tens of thousands of homes for sale, along with pictures of the neighborhoods, surrounding communities, and detailed info on nearby schools, religious institutions, shopping centers, freeways, etc.

But don't forget a key fact: When you list properties, your listings attract buyers! Think about it: You post signs, run ads, hold open houses. You're doing everything in your power to attract buyers.

What many agents forget is that, when they control the listings, they control the inventory -- and the buyers come to them.

Another important point to keep in mind is that the majority of sellers -- are also buyers! Nearly 85 percent of moves are local, and even the National Association of Realtors says that the average consumer moves just 13 miles away.

That means that every seller you work with is also a potential buyer. And by finding a buyer for your seller's home -- that's three transaction sides, including two buyers, with just one listing!

Yes, the market is transitioning. And yes, many sellers haven't gotten the news … or simply are ignoring reality that the frenzied sellers' market of the last few years is, for the time being at least, a distant memory.

Still, by putting four simple suggestions to work, you can successfully work with and guide your sellers in this challenging market. Here they are:

1. Price it right. Your sellers might not want to hear this, but it is a buyers' market right now, no question about it. If they want their home to sell, it must be priced reasonably and competitively from the get-go. Getting them to understand this may take some time and effort on your part, but pricing their home right the first time will save you and them headaches -- and the heartache of watching their home sit … and sit … and sit.

2. Make sure the home is in good condition. You know the drill: Have them take care of any major defects/cosmetic fixes that would be red flags to potential buyers. With so many other homes to choose from, many buyers won't even consider a home in disrepair.

3. Advertise online. It's where nearly 80 percent of consumers begin their search. It's where you should begin your marketing, and is likely how you'll get the home sold the quickest.

4. Make certain you're working with a MOTIVATED seller or don't take the listing.

In general, let your sellers know, upfront, how you work. Don't spend money that won't generate results simply to appease the sellers. If they don't agree with your approach, walk away and let someone else take the overpriced listing and spend their marketing dollars. When it expires, you'll get it at the right price and market it online.

I can't stress enough the importance of online marketing. Advertise your listings 24/7 online. Post multiple photos online. According to the National Association of Realtors, homes with multiple photos are viewed 299% more than other listings. Besides, online ads are much more cost effective then print. According to NAR, 77 percent of consumers go online to look for real estate. You may do some print advertising if you have had good results in your area. But, watch your return on investment. If you are not getting results, don't maintain it simply to keep your sellers happy.

Another strategy that works well is Just Listed postcards. Many top agents send those to the neighbors on EVERY new listing. Everyone wants to know what is happening in their market and someone might know someone interested in the neighborhood.

Finally, be patient. Like the rest of us, sellers are trying to get a solid handle on a volatile market that is still very much in transition. As you know, selling a home is a complex and emotional undertaking. Now, more than ever, sellers need the kinds of skills, expertise, advice and understanding that only you can provide them.

Published: November 9, 2006

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Claudia Wicks is Director of Real Estate Training and Content for HouseValues Inc. Her blog, AgentCEO.com, offers agents and brokers tips gleaned from her decades of real estate industry experience. Claudia is a licensed real estate broker in the state of Washington, where she has worked for the last 28 years as an agent, broker/manager and Director of Training for Coldwell Banker and John L. Scott. Learn more about HouseValues at AgentSuccessNetwork.com or call toll-free 866-952-5042.