A slower real estate market does not mean there are no buyers. In fact the buyers are always there, perhaps they are not willing to pay as much as they would have in the past, as there is more competition on the market. The bottom line, housing is a necessity, homes will always trade regardless of the surrounding market conditions. So what changes? The way real estate is traded! In the past, single-family homes have appreciated by as much as 20% annually. After a few short years a typical homeowner could see their equity double. As property values continued to climb, a large equity in the home meant that the homeowner had plenty of flexibility on their bottom price. No matter what the competition the homeowner was able to meet the demands of the market by having the ability to adjust the price and sell the home. Today that may be different, fair market value does not necessarily mean 10% or 20% more than what the homeowner paid 2 years ago. With no equity gained in the home, the typical homeowner is unable to meet the demand of the market, as they cannot afford to adjust the price. After months on the market the homeowner is forced to adjust the price, pays off thousands to their real estate agent walks away with absolutely nothing. According to the Canadian Real Estate Association, the success rate of sale through a real estate agent has dropped by more than 20% in just one year from 2007. In fact current statistics show that selling through an agent in Canada has a success rate of less than 50% (according to statistics of the Canadian Real Estate Association for May 2008). Last month Private Real Estate Corporation had the highest listing volume of homes that had been previously listed through real estate agents. In most cases these homes had been for sale with agents for over 6 months. They had signed with one agent and then with another. Having to pay hefty commissions they were unable to price the home at current market value resulting in wasted time and no sale. In just a few short weeks some of these properties have already been sold, and many have pending offers. To put it in simple words, not having to pay commission at the end of your sale allows you to sell your home. With a success rate of over 70% Private Real Estate Corporation continues to thrive as the market cools. If you need to sell your home private is the only way to go. So remember keep your equity in your home and say no agents please.