As we all know, buyers are skittish these days. They think home prices are going to fall and that the home they want will stay on the market forever -- until they feel like buying it. They think that they can get a better deal on their mortgage if they just wait.

As if all that isn't hard enough to overcome, then you've got the homebuyer who is actually out looking, but doesn't buy because the home isn't in perfect condition.

Eighty percent of homes for sale were built before 1980. The median home sold in 2007 was 12 years old. Nearly half of all buyers in 2007 purchased homes less than 10 years old, according to the National Association of Realtors.

That's a problem for most home sellers and their agents. Buyers want new or as close to new as possible. They equate new with perfect.

One reason buyers want newer homes is that size matters.

In 2005, the average floor area in a newly built home reached an all-time high of 2,434 square feet -- up from 1,645 square feet in 1975.

So you know one of the first objections you're going to get when you try to sell an older home is "This house is too small."

Your response? "I know. That's why I showed it to you. This way you don't have to pay for square footage you don't have or that you don't use. You can decide how much you want to add on. Customize this home to fit your needs."

Another objection Realtors get is that a home is out of date.

You can use the same clever response. "I know. That's why I showed it to you. If you buy a house that's already updated, you're paying the seller top dollar. This way you can decide what you want to improve."

What if your buyer says they don't want a certain improvement -- like a swimming pool?

You can say, "I know. That's why I showed you this house. A swimming pool you don't want is a great negotiating tool. We'll tell the seller it's a liability, and get them to reduce the price of the home."

Bottom line -- here's what your buyer needs to know.

You are either going to pay retail to have an updated home, or you're going to pay wholesale to add improvements yourself. Think about it this way: You don't want to pay the seller for granite countertops because they make a house sell faster. They might have paid $45 a foot, when you can get beautiful granite for $25 a foot.

Put in the granite yourself, and get the next buyer to pay you for it.

Published: February 19, 2008

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Blanche Evans is the award-winning senior editor of Realty Times, the Internet's leading independent real estate news service. She is featured daily on the Realty Times Video Network in the "Realty Viewpoint" segment. Blanche has been named one of the "25 Most Influential People In Real Estate" by REALTOR Magazine, and has been twice recognized as a "notable." In 2005, she was named "Top Reporter Covering the NAR" by Delahaye-Bacon's. Blanche is a renowned author of five real estate books. Her newest, Bubbles, Booms and Busts: Make Money In Any Real Estate Market, McGraw-Hill, was rave-reviewed by The New York Times. She was also selected from hundreds of real estate experts to contribute to Donald Trump's book, Trump: The Best Real Estate Advice I Ever Received: 100 Top Experts Share Their Strategies, Rutledge Hill Press, and is featured on page 68. Order Now Review - Honors In 2006, Blanche was selected among scores of candidates to author two consumer real estate guidebooks for the National Association of Realtors: The NAR Guide to Home Buying, and The NAR Guide to Home Selling, Wiley & Sons. She is currently planning two new books for the NAR and its members.       Known for her keen insight into real estate industry issues and for her ability to make complex subjects easy to understand, Blanche is a sought-after keynote and continuing education speaker. Real estate organizations from MLSs, to brokerages, to franchisors, to associations hire her to provide up-to-the-minute analysis of real estate industry news and advice on how to improve revenues. Her passionate delivery, peppered with stinging wit, is a huge hit with audiences and fans. Don Klein, CEO Greater Nashville Association of Realtors, Blanche Evans, Richard Courtney, president 2007, GRAR "The GNAR membership meeting last week featured Blanche Evans as the keynote speaker. Her comments and insights resonated extremely well with those in attendance and we have had many requests for copies of her PowerPoint Presentation. She was a terrific part of the membership meeting and convention program!" - Don Klein, CEO Greater Nashville Association of Realtors Coverage from WSMV, Nashville - 8-14-2007 That Interview Guy - Get Inside The Head Of Today's Generation 2007 AE Institute Session - To purchase 2006 AE Institute Session - Parts 1 2 3 4 5 6 7 8 9 HouseValues Mastermind call - Parts 1 2 Blanche's fireside chat with Jeremy Conaway, HAR - Click here. To contact Blanche, email her at . For more articles by Blanche, click here.