Sellers: Here’s how to move your home in 2008

No doubt, 2007 was a tough year in which to sell a home.

Will 2008 be any better? It can be. Sellers just have to adjust.

In the early 2000s, selling a home seemed simple: Owners would list it and buyers would flock to it. Buyers in hot markets often paid more than asking price — something that seems unbelievable now — to nab their dream homes.

Last year, of course, was a different story. Home sales across the country dipped. Prices either fell or were stagnant. The number of homes on the market increased. Buyers suddenly had options.

But remember this: People still sold homes in 2007. Sellers still got fair prices. It wasn’t a boom market anymore, but buyers were still out there.

Expect more of the same in 2008. To move a home now, sellers have to be willing to do one thing above all others: Negotiate with buyers. Gone are the days when sellers could demand full asking price. Gone, too, are the days when sellers could sit back and watch buyers fight over their listings.

Sellers today have to work with potential buyers. Sellers who will only accept full-price offers, are unwilling to provide extra dollars for home repairs or who won’t budge on closing dates will find few buyers interested in their listings.

This doesn’t mean that sellers should cave in to every demand that buyers have. It just means that both sellers and buyers in today’s market need to work toward fair and reasonable compromises.

The real estate experts agree: 2008 is going to be another challenging year for homesellers. That doesn’t mean it has to be an awful year. It just means that sellers have to continue to adjust their attitudes.

It’s time for compromise, sellers, whether you like it or not.