If you are thinking about putting your house on the market to see what might happen (testing the waters, so to speak), this article is NOT for you.

I writing for serious sellers (e.g., those who REALLY need to sell due to family situation, divorce, relocation) who are truly committed to doing what they need to do to sell quickly and at the best price. This is especially important now that the market has shifted to become much more buyer friendly in many areas.

Here are some things you need to do:

Price your home competitively - Most people will tell you this is THE MOST IMPORTANT factor - this is NOT the time to try to get what a neighbor down the road got for his identical house 6 months ago...it won't happen. An effective strategy may be to price YOUR home lower than any of the comparables. And using Variable Range Marketing (VMR) with a price range should seriously be considered. A knowledgeable REALTOR can help you determine a price that makes sense in your particular market. And keep in mind how much your house has appreciated (unless it hasn't) - don't be greedy.

Hire a strong REALTOR - This is not the time to try and save a few bucks by attempting to sell your home by yourself. Time is your enemy! I recommend you interview several agents and pick the one with a strong marketing plan (in writing), experience in this market, and one who KNOWS the current market conditions and statistics - better yet, can someone you know and trust refer an agent to you?.  Ask for references. An agent who is a Certified Residential Specialist (CRS) and/or a Graduate of the Realtor Institute (GRI) is a strong contender. Be wary of any agent who promises a certain price (there are no guarantees in real estate, and the market will determine the sales price, not you or the agent), and don't hire the agent who suggests the highest price. Remember point #1 above.

Have a well-developed marketing plan - In a market of huge inventory having maximum exposure is critical. The agent you hire should have a strong and varied Internet presence, but other methods of marketing can be important too - what works in your particular market? The marketing plan should be written with dates. Ask to see examples of the agent's marketing. Insist on topnotch photos of your home and many of them - buyers demand photos and may overlook listings without them!

Stage your house to sell - Once you are moving, your HOME becomes a HOUSE...a product...merchandise that must be marketed. Staging a house is NOT decorating, and it is not your home's condition. You want the house to appeal to a range of buyers, and they shouldn't be distracted by clutter and the personal trappings of your lifestyle. If necessary, hire a professional to work in conjunction with your agent.

Don't hesitate to ask if you have questions or need assistance! And check back tomorrow for Part 2.