Are you intending to sell a home in a neighborhood where buyers have long outnumbered sellers, and properties have flown off the market in recent years? If so, you could be at risk for overconfidence in a changing market.

Lawrence Yun, the chief economist for the National Association of Realtors (realtor.org), says “supply and affordability headwinds” are now beginning to impact overall sales.

“Demand continues to overwhelm supply in most of the country,” says Yun, noting that in the face of price gains, some potential purchasers are beginning to back off, if only temporarily.

Real estate analysts aren’t issuing dire warnings. But they say that, as always, sellers should contain their expectations within reasonable levels, making sure they don’t overprice their place.

“It’s never wise to come out of the gate with a price that’s too aggressive. Almost inevitably, sellers who are greedy fall short in the end,” says Eric Tyson, a personal finance expert and co-author of “House Selling for Dummies.”

Tyson cites another time-honored piece of advice for sellers: do plenty of homework when selecting the right listing agent.

How can you screen agents to find the best one for your listing? Hiring experts stress the importance of one-on-one interviews.

Jodi R.R. Smith, a human resources trainer who heads her own consulting firm (mannersmith.com), says, “It’s worth the time to find a fabulous person to sell your place,” as your home is most likely your greatest asset.

To begin, she recommends you create a preliminary list of five to 10 agents who are recommended by people you know. Then pre-screen each with a five-minute phone interview.

“If you don’t (have a rapport), you don’t want to waste your time -- or their time -- having them come to your house,” Smith says.

Telephone pre-screening should cut your list of potential agents to three or four, all of whom Smith recommends you invite to your home for in-person interviews.

Here are a few pointers on interviewing:

-- Ask open-ended questions of your candidates.

As the founder of MarketStar, a large sales and marketing company, Alan Hall has interviewed hundreds of job applicants. Experience has taught him that open-ended questions elicit the most revealing answers.

“For example, ask them about a past failure they had in their real estate career and how they handled it. They should tell you how they turned failure into a learning experience. If they stumble in response, that’s not a good sign,” Hall says.

-- Seek to quantify your agent’s past performance.

Smith recommends you ask all the candidates for data on the homes they’ve sold in the last six months. In each case, what percentage of the list price did the homeowners obtain? And how many days did the property sit on the market before it sold?

“You need to know how well each candidate is doing statistically and how they compare with other agents in the area. Fortunately, real estate ... (uses) a lot of metrics to measure success,” Smith says.

-- Look for good manners as an indicator of competence.

Smith says you should consider as listing agents only those who are candid in assessing the changes needed to make your property sell for its full market value. But you don’t want someone who is overly blunt.

She recommends you tell all the agents how much money you have for pre-sale upgrades and then ask them to give you a priority list.

“Ask for their gut reactions and whether, for example, you would be better off spending the money you have to plant flowers beside your front entrance or to paint your bathroom. The right agent should have good suggestions that fit in your budget,” Smith says.

-- Weed out agents who don’t take your sale seriously.

Given that you have much at stake when selling a home, Hall says you need to make sure the listing agent you engage will treat your listing seriously. How can you tell which agents might give your property less than a 100 percent effort? Often, there are red flags, he says.

“One bad sign is if the agent doesn’t arrive on time for your listing appointment. You don’t want to hear excuses, unless it’s something they couldn’t help, like a tire blowing out on the road,” Hall says.

-- Avoid a listing agent who is green.

Cathleen Faerber, an executive recruiter for the Wellesley Group, recalls a “disastrous mistake” she made in the past when, without an interview, she hired a friend to list her house for sale.

“This person, who was my neighbor, was a newbie to real estate. She clearly lacked the background to do the job. During the six months she had my listing, she failed to advertise my house. The result was zero traffic and the loss of a lot of prime selling time,” Faerber remembers.

“Ask them to walk you through the methodology they use to market homes and how they’ve met challenges. Past performance is always an indicator of future performance,” she says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

If you own a modest house in a metro area where job growth is strong, now could be an excellent time to sell if you've ever wanted to upgrade.

“The housing market is extremely competitive, especially for first-time buyers who are looking to purchase a starter home,” says Svenja Gudell, the chief economist for Zillow, which tracks housing markets across America.

“Young buyers often start their careers in fast-growing cities in which the market is particularly tough,” she says.

Of course, higher-tier properties aren’t exactly trading at fire-sale prices these days, either. But the inventory of unsold homes at higher levels is relatively plumper than at the entry level. As a result, the realities of supply and demand can now favor those seeking to trade up.

“For starter-home owners who wish to move, the present market is ripe for those who act strategically and wish to get a better house for their families,” says Mark Nash, a real estate analyst and author of “1001 Tips for Buying and Selling a Home.”

Here are a few pointers for potential home traders:

-- Consider the math on moving up.

There are several ways you could take advantage of the current real estate market to find a happier housing situation. One is to move to a more spacious place. Another is to make a “lateral move” to a home roughly the same size, though in a neighborhood that gives you better schools or a shorter commute.

“On the sell-side you should do very well, given the huge demand for starter homes in coveted areas. And on the buy-side you won’t be facing quite as intense a level of competition as purchasers at lower tiers of the same market,” Nash says.

Inertia is one reason many homeowners are failing to put their entry-level homes up for sale. Surprisingly, some continue to procrastinate simply because of the daunting chore of prepping their property.

“If the time is right to trade up, don’t let disorganization cause you to postpone the joy of better quarters,” Nash says.

-- Get a handle on your home’s real value.

As always, a few real estate agents might try to flatter you into hiring them by suggesting your property is worth more than it truly is, says Dorcas Helfant, a Coldwell Banker broker-owner and former president of the National Association of Realtors (realtor.org).

“You don’t want a wishful-thinking answer about your home’s value. You want an agent who is tactful, but calls it like it is on pricing. That’s because even after discounts, accurately priced homes ultimately go for more than those that are overpriced at the beginning,” Helfant says.

One way to increase the odds of finding a realistic listing agent is to interview at least three prospects before making your selection. Ask each to do a comparative market analysis on your property, using recent data from similar home sales in your neighborhood as a basis to set the appropriate list price.

“Watch out for any agent who comes in with a proposed list price way above the other agents you’ve surveyed,” she says.

Of course, as Helfant says, it’s always possible your property is worth more than you’ve been led to think by a real estate agent who wishes to score a quick sale. But that’s especially rare these days, given that inventory is scarce and many agents are hungry for listings.

“When it comes to affordable housing in desirable neighborhoods, there are far fewer sellers than willing buyers, and agents are dealing with that issue every day,” she says.

-- Factor your career plans into any purchase decision.

No matter the economy’s trajectory, real estate specialists caution against buying a trade-up property with the intention of selling it in just a year or two.

“Truth be told, you’ll probably need to hold your new property for at least three to five years to come out ahead. Otherwise, the transaction costs involved in selling, buying and then moving could eat up any potential profits,” Nash says.

On the other hand, if you anticipate holding the trade-up property for a lengthy period, this could be a favorable time to go through with the transaction.

-- Don’t allow unwarranted fears to sabotage your housing plans.

Veteran investors often cite an old adage when it comes to making money in any market: Buy low and sell high. Granted, very few homes are now as deeply discounted as they were in the aftermath of the Great Recession.

Nevertheless, Nash reminds starter-home owners who wish to sell and then trade up that it could be a mistake to delay fulfillment of their plans in hopes of awaiting a utopian situation. One downside of waiting is that mortgage rates, which are still hovering near historic lows, could rise in the future.

“Right now, maybe you won’t get a smashing deal on that fine property you hanker to own. But at least you’ll still have access to well-priced mortgage money, and there’s no telling how long that will last,” he says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)

A couple of years before the real estate downturn hit, a big city pediatrician bought a modest townhouse in a rapidly developing outer suburb where he’d been offered a job. But the job proved disappointing, as did life in exurbia. Hence, after converting the property to a rental, he moved back to the city.

Recently, the doctor decided to finally sell the townhouse. Yet, after interviewing three listing agents, he was unhappy with what he heard. Despite the overall lift in the housing market across the country in recent years, home prices in his area had gained relatively little. Indeed, his house would still sell for less than he paid for it 10 years ago.

As this true story illustrates, not all homeowners have benefited equally from the rising post-recession real estate market. Prices in many close-in metro areas have soared, while some less popular outer suburban communities have gained little.

“Even as headline numbers show an overall recovery, there are still thousands of Americans struggling to bounce back from the housing bust,” says Svenja Gudell, the chief economist for Zillow, which tracks real estate markets throughout the nation.

What does this mean for sellers like the doctor? It means they should be doubly careful to price accurately from the outset and not overspend on pre-sale improvements. Otherwise they could be hurt at the bottom line, says Mark Nash, a real estate analyst and author of “1001 Tips for Buying and Selling a Home.”

No matter the market, listing agents rarely recommend that clients undertake major remodeling work prior to selling. But if the sellers insist on pre-sale improvements, they’re urged to first consult experienced real estate agents for advice.

Here are a few tips for sellers:

-- Find a real estate agent with a deep knowledge of your neighborhood.

Nash, a long-time real estate broker, says sellers who plan to renovate should first seek guidance from agents who truly know their community.

“Only contact agents with an in-depth knowledge of your particular market and its tastes. Ask them the types of projects that will or won’t pay you back when you sell,” Nash says.

Homeowners who are unsure when they’ll sell are often reluctant to ask for advice before remodeling. But Nash says reputable agents won’t pressure you to list your property until you’re ready. Meanwhile, their advice could save you thousands of dollars in contractor charges.

“Real estate people can often put you in touch with local contractors who do good work for a low price. Through their clients, they pick up the names of contractors who are solid yet inexpensive,” Nash says.

Ask any agent who visits your home to go room-to-room, creating a checklist of updates that should enhance the value of your property rather than hurt it.

“Always keep your eye on the big prize, which is a successful sale,” he says.

-- Don’t overshoot your neighborhood on improvements.

Tom Early, a past president of the National Association of Exclusive Buyer Agents (naeba.org), says that buyers, who do more internet research than ever, will refuse to compensate you for any renovation work that raises your property above neighborhood standards.

What kinds of upgrades constitute “over-improvement”? One example would be an expensive landscaping job in a neighborhood of starter homes. Another would be the addition of a three-car garage in a neighborhood where most houses have no garage at all.

-- Resist the temptation to personalize your renovations.

Nash tells the true story of a psychology professor who was determined to completely overhaul the kitchen of her house before selling. She had in mind dark cherry cabinets and top-quality granite countertops, and expected to spend nearly $90,000 on the work.

But after consulting Nash, the professor changed course, scaling back her kitchen plans and making them more suited to the tastes of the young families moving into her neighborhood.

“Most people who buy homes in that neighborhood have young kids. They want a more functional sort of kitchen than this owner contemplated,” he says.

“Not only did she spend half as much as she would have for her original kitchen design, but she made her property much more suitable for a future sale,” Nash says.

-- Back out of renovation work that’s overly pricy.

Have you already launched into a remodeling project, but worry you’re spending more than you could realistically recoup when you sell? If so, Nash urges you to contact your contractors and negotiate a change in plans.

Often, real estate agents can suggest less expensive products than those recommended by contractors. For example, they might recommend you replace worn carpet with a generic brand rather than one from a designer showroom.

Besides substituting supplies, your contractors may be willing to renegotiate the overall scope of your project. For instance, you might cancel plans to install a fireplace in your family room.

“Even after paying penalties for canceled work, you’ll probably come out ahead if you contain your enthusiasm for fancy upgrades,” Nash says.

(To contact Ellen James Martin, email her at ellenjamesmartin@gmail.com.)