No beating experience in today's competitve market.

Market watchers. Real estate professionals know them well. They are the naysayers who sold without buying within the last two years at what they thought was the top of the market. They remain hostage, by their own false conviction, in a rental apartment that is too small and too expensive.

So much has been prognosticated about New York City moving from a seller's market to a buyer's market that their faith in a dramatic drop in real estate values is almost understandable.

Almost. They should have asked an expert.

Because--surprise, surprise--while prices have stabilized, the selling prices for many categories of apartments have still increased somewhat over the same time last year. The number of actual sales transacted during the first halt of 2005 versus the first half of 2006 has also increased. Yes, there is more inventory, but the bulk is new construction, which may not be located in every purchaser's preferred neighborhood.

The recent marked increase in the length of time that it takes to sell many properties, is primarily because the seller was given poor pricing advice, or chose to go by their own inclination in pricing, assuming that double digit annual increases would continue to be the norm.

There is also the misconception amongst many buyers that they can take their time and not rush into a transaction. This is ill advised. Ask anyone who has lost a choice property because they thought it would languish on the market.

It is important for brokers to emphasize that all homes are not equal and that real estate is not fungible. Each property is unique. If it has appeal to a potential buyer, it is the broker's responsibility to possess the skills necessary to close the deal, emphasizing that it takes only one buyer for each property and once it's gone, the opportunity has passed.

Today's market is best described not as a buyer's market or seller's market but as a broker's market. And whether buying or selling, the best advise is work with a seasoned broker who can navigate the shoals of the complex market which may prove too difficult for the many brokers who have only experienced an up market. It is more important than ever to have a thoroughly vetted broker who can spot good value and recognize less desirable property. Now is not the time to warehouse lemons.

For a seller, pricing is key, the most important aspect of successful marketing of a home. A sophisticated, experienced broker knows how to do a complete market analysis, including past sales and current properties being offered, referencing how long they have been on the market. There is a great deal of judgment required which can only be garnered by experience and great attention to detail. Listing the property at an attractive price, preferably slightly below the competing properties, arouses immediate buyer interest and increases the chances of concluding a sale for a satisfactory price in a timely fashion.

The well versed broker knows and should be in a position to convince the Seller, that the highest prices are almost always offered by the first bidder, when the listing is fresh.

Statistics have proven that this is the case 8 times out of 10.

Evaluating the first offer and being able to manipulate it to the seller and buyer's satisfaction require skill and in depth current knowledge of the marketplace.

The optimal marketing of a property is of the utmost importance. Very specific target marketing yields results.

Successful marketing is diversified marketing, including a major internet presence, e-mail brochures to the brokerage community and to private client lists, attorneys, private bankers, etc. A tech savvy broker who knows how to utilize these all important marketing tools is a must. In addition to technology, knowing which print venues to use for maximum effectiveness is an important skill acquired with experience.

Finally being able to evaluate the successfulness of one's marketing strategy and adjust when necessary, is important for attracting the appropriate Buyers and concluding a sale.

Using a broker who is a well known real estate expert in your area, should also yield some editorial copy about your property. People who don't read advertisements, respond to articles about your broker and your home.

The long and short of it is that this is the moment to choose your broker very carefully.

Put aside ill advised loyalties to friends and relatives and employ a real expert to get the job done most efficiently and effectively.

BY PATRICIA WARBURG CLIFF SENIOR VICE PRESIDENT AND DIRECTOR OF EUROPEAN SALES, CORCORAN GROUP