In 2004, 2005, and 2006 many real estate agents forgot how to negotiate. It was pay the asking price or pay more than the asking price. Buyers weren't getting advice, often times they were shoehorning themselves into payments they wouldn't be able to afford down the road with the hopes of hitting the appreciation jackpot.

Yes, times have changed. We all know that. If you are working with home-buyers today, more than ever you have an obligation to provide advice and guidance. CMA's are not just for sellers looking to get top dollar. Buyers should not write offers without seeing a full market analysis. They need to see sale prices, price per square foot and adjusted sale price comparisons to determine fair values.

Often times buyers make unrealistically low offers or they pay too much. As professionals, it is our responsibility to make sure our clients have the correct information with regards to values and trends. Usually, the general public is not as in tune with the specifics as we are. They know prices are lower and they know it's a good time to buy, but unless they know the specifics they could be relying on luck to get a good deal.

This is an excellent time to represent your buyers to the best of your ability and really negotiate on their behalf. It won't go unnoticed and will result in referrals for years to come!