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Let’s look at things from the seller’s point of view. That’s not me now, but maybe it will be someday, like in 2015. So, for people not like me, but who are trying to sell right now, what are some useful things to keep in mind?

Straightforward commentary from a real estate agent is probably a good place to start. A broker named Mike Morgan recently began challenging the media spin of the real toll of the housing bubble in Florida; his statements in this regard were widley reported in the blogosphere, partly due to his discussions at, among other places, Mish's Global Economic Trend Analysis. Bubble blogs latched onto Mike's views, because it was rather refreshing to hear a real estate agent speak, who wasn't acting like a shill once things started downhill fast.

For those familiar with the soft landing theory of housing bubble deflation, Mike also spoke out and said he doesn't see a hard landing underway, but rather, a CRASH landing. So Mike is acknowledging the realities of selling in a down market.

So what can a seller do? Here is some solid advice, excerpted from Mike’s comments on Why Homes Don’t Sell:

1. Your price is too high - Even if you do get an offer for the overly high asking price, the deal may fall apart because the buyer has problems financing at too high a price, and also, other comparable homes nearby could be offered for less.
2. The condition of your home - The more you can do to make your home look appealing to a buyer, the better your chances for a quick sale. Look at your home with a critical eye – put yourself in the buyer’s position. • Location - Good schools, low crime rates, visual appeal and less noise or pollution can all affect desirability of a location. The only reliable way to overcome a bad location is with a lower price.
3. Your marketing campaign is out of steam - If an agent just puts a sign in your front yard and adds your home to the local MLS, that agent isn’t coming close to doing what can be done to effectively market your home.
4. The market is slow - There are several things you can do to combat a slow market. The most effective strategy is to sell at a lower price. Buyers are expecting to find bargains during a slow market.
5. Your home isn’t easily accessible - Homes that are listed as being “lock box, no appointment needed” will get shown more often than homes listed as “agent has key, call for appointment”.
6. You have an agent nobody likes - If there are a number of good matches to choose from, and one of them has been listed by an agent that is hard to get along with, or arrogant, or unpopular, well… It’s just human nature to tend to skip over someone you don’t like.

So taking a look at the local market here in Victoria, are there any realtors asking sellers to consider all these types of home-selling techniques? Well, as noted at HouseHuntVictoria in Stage This House, improving the basic attributes of your property in order to “make the sale” is starting to be promoted nationally as a sales tactic in a time of increasing inventory and sales competition. This type of approach wasn’t being mentioned much back in 2005, when prices were slightly lower and sales higher than now. I take it as a sign that the industry in general is starting to actively promote activities that will bring the proverbial "soft landing".

I did a quick and unscientific survey of local firms, which shows these tactics aren’t being promoted yet in Victoria, if at all. None of Tony Brogan, TalktoDino, Royal Lepage, Brown Brothers, Day Team, or Re/max Alliance makes any mention of staging or upgrading a home as a way of dealing with tough competition due to worsening market conditions. In a few cases, the realtors talk about beautifying your home, not to help sell – but rather, to get a better price.

The mantra of it will sell, it must sell, it's real estate and all real estate sells after all, seems to still be operative. If there is a housing bubble about to deflate, it's not on anybody’s radar locally. Maybe just on the edge of conversations actually, the periphery of awareness. If market conditions are changing, will local realtors become less complacent? We'll see.

If you know a local realtor who is already advising his clients publicly of the need to compete in a buyer’s market, in a bursting bubble milieu, send me a link and I will update this story with the information.