There are three areas you need to examine closely to make sure you are getting the maximum bang for your buck. They are condition, marketing and price. And over the next three weeks, I’ll examine all three and suggest problem areas along with possible solutions.

The condition of your home is critical in achieving a sale. That’s because there are two markets available to you as a seller: the retail market and the wholesale market. And the condition of your property directly determines the market in which your home will sell.

The retail market consists of serious shoppers who plan to own and occupy the house as their principal residence. They are prepared to pay at or near "fair market value" for your house, but they expect it to be in good enough condition that they can (at least) imagine themselves living there. This is by far the larger of the two marketplaces.

If the house is in such poor condition that no buyer could even dream of living in your house, then your only offers will come from investors and speculators. They are willing to accept the house in "as is" condition, but expect to buy it at 40% less than fair market value so they can make a reasonable profit. Although their numbers are small, buyers in this wholesale market are prepared to act quickly in order to close the deal.

Since it is your goal to sell at retail rather than at wholesale, here are some tips to make sure your home will meet the minimum standards for the larger consumer marketplace:

* Make sure your home is in a condition that is equal to or better than the typical home in the surrounding area. Assuming other homes have sold in the past year, find out what your competition has offered by talking to the agents who listed those homes, and ask them how yours stacks up. If your home presents a major remodeling project while others are in "move-in" shape, you can expect a long selling period.

* Ask several experienced real estate professionals to perform a "competitive market analysis" on your home, and seek suggestions on things you can do to make the house more desirable to buyers.

* At the least, expect a recommendation of new "paint and carpet" unless these have been addressed recently. Buyers today are willing to pay at or near full price, but if the house will need a remodeling project before they can move in, most prospects will just go to the next listing.

* Don’t fall victim to the self-serving offer of a "redecorating allowance" in lieu of actually doing the work now. The promise of a few thousand dollar discount pales in comparison to the smell of fresh paint and the feel of new plush carpeting throughout the house.

Also, don’t try to convince me otherwise by using the argument that buyers would rather pick their own colors. If you are trying to sell, it’s up to you to use a decorator who knows which colors will look good in your house. When in doubt, stick to lighter, neutral colors.

* Have a professional home inspector give your house the once over, and make all the suggested repairs before you put the house on the market. You can bet that any potential buyer will have their own inspection and demand no less, and by doing this in advance, you give yourself an advantage over the competition.

* Take a good long look at the house from the street. I am not a believer in overspending on your landscaping, but you need to meet or exceed the average condition of homes in your neighborhood. In some areas, that means professional lawn care on a regular basis, while in others you can get away with trimming the bushes back to below the window sills.

* Pay particular attention to the front entry area, which should look clean, bright, and inviting. If you do nothing else, paint the door and handrails, add bright brass numbers and a kickplate to the door, and install a couple pots of colorful blooming flowers beside the door.

* Inside the house, remove large and bulky pieces of furniture. They make normal sized rooms look small. Add fresh plants and flowers throughout the house, and be merciless with clutter. Remove and store most items from closets so it looks like you have lots of unused space, and eliminate heavy window treatments which tend to block natural light.

* In the kitchen, consider replacing your countertops if worn, and remove all small appliances and other clutter items from counters. Upgrade lighting to eliminate shadows, and even consider new appliances if yours are near the end of their service life.

* Baths need to be sparkling clean, and adding a large wall mirror can make a small bath feel larger. Consider a new light fixture as well.

By reviewing these ideas and making sure your home at least matches the competition, you remove "condition" as a negative factor in your home selling efforts. Next week, we’ll look at your marketing plan.