In the Los Angeles area, the past several years have been a seller's market, as prices have risen while interest rates declined to historic lows.  This created a near-frenzy condition in which sellers expected multiple offers on their property.  A house that I sold in May of 2004 received 41 offers, and roughly 300 people came to the first and only open house in three hours.  Typically, attractive listings were getting 6 to 10 offers.  That's no longer the case.

It has been simultaneously a great time to sell and buy.  Sellers have received top dollar for their investments, and buyers have used "cheap money" (borrowed at extremely low rates) only to see extraordinary gains in very short periods of time.  With prices flattening and interest rates climbing, many buyers are much more cautious.  They are viewing properties 3 or 4 times before making an offer instead of tying something up with a "winning" offer and deciding during escrow if it's the right fit for them.  In many respects (from the buyers' standpoint) this slowing market is much better: It gives buyers time to think about the purchase; They can prepare their home for the market, if they have something to sell; Most importantly, the pace is simply better for both sides, as the pressures are not nearly as unbearable as they have been in recent years.

Preparation for the Market - A realtor earns his / her business by giving sound advice to clients.  The number of properties on the market lately in poor condition is a direct sign of either sellers not taking the advice of their realtors or homeowners enlisting the help of 2nd tier "real estate professionals" who are not capable of meeting the needs of their clients.  Being candid is at the top of the list of client needs.

Having good counsel is one of the most important components of buying or selling real estate.  Presentation is another, and pricing might be the most significant facet.  Unfortunately, pricing is where the majority of the mistakes are made.

Many aspects should be considered, and I have the experience to refer some of the very best people in their field: attorneys, staging companies / interior designers, landscapers, painters, you-name-it.  You-get-what-you-pay-for has an even more resounding impression during this period of the real estate cycle.  Very few of my referrals will be have the best rates, but all of them will have the best level of service and attention to detail.  Otherwise, I simply will not refer them again.

Let's work as a team and do our best as a team.  "People who work together will win, whether it be against complex football defenses, or the problems of modern society."  - Lombardi again.