1. Being Oblivious of Your Rights & Responsibilities

It is of the utmost importance that you stay well informed of the details of your real estate contract. Real estate contracts can often be very complex and confusing, and they are legally binding documents. It is important that you know what you are responsible for before signing the contract. Not being familiar with your contract could cost you hundreds, or even thousands of dollars on repairs and/or inspections.

2. Asking the Wrong Price For Your Property

It is critical the right price is placed on the property. Anybody selling a product obviously desires to get the most money possible for that product. Experience shows the right price sells a house faster than any other factor.  When the listing price is more than 5% over market value, the price alone discourages buyers. Placing an excessively high price on a property often proves to be counteractive to this cause. Before you set your price you should go over all the area sales and comparables in that area. Have your agent prepare this for you and get a copy to look over yourself. A high listing price will often cause prospective buyers to anticipate more than what you have to offer, or even cause them to lose interest before they even view your property. As a result, overpriced properties have a tendency to take an unusual amount of time to sell, and they end up being sold at a lower price.

3. Choosing The Wrong Real Estate Agent

Experienced real estate agents often cost as much as brand new agents. There is a greater probability the experienced agent may be able to fetch you a little higher price for your home, in less time with fewer hassles. It is important to take your time when selecting a real estate agent. Be sure to interview several agents. Selling your home often times the most important financial transaction that you will ever make.

4. Poorly communicating with your agent.

Sellers should take a proactive approach to the selling process and not rely solely on the agent. Sellers should insist upon regular updates about the house and never assume the agent has taken care of everything. Ultimately, it is the seller's responsibility to ensure everything is running smoothly.

5. Locking Yourself in

You should take your time when selecting a real estate agent. But sometimes it is possible to misjudge and select the wrong agent to represent you, or perhaps their first impression was good but they just have not followed through and are not meeting your expectations. In any case, you should have the right to fire your agent. Also you should have the right to choose another agent instead of just being appointed another one with out consulting you. Make sure you are in the driver's seat before signing a real estate contract.

6. FSBO vs. Real Estate Agent

General Custer Syndrome.  Going it alone like General Custer could invite disaster.  Without a professional advisor, you probably won't sell.  Even if you do sell, surveys show self-sellers often net less from the sale than sellers who use a real estate agent.  Selling a house is a team effort between you and the listing agent.  You'll find agents do a lot more than most people you know from bringing qualified buyers to keeping things on tract to settlement. 

7.  Only Using One Method of Marketing/Advertising

There are many ways to market and advertise your property these days such as Open Houses, Classified Ads, Home Magazines, Real Estate Websites, Flyers, etc. Your realtor should employ a wide variety of marketing techniques. You also want to select a realtor that is going to be committed to selling your property; they should be readily available for every phone call from a perspective buyer. Most contacts are made during business hours so verify that they will be trying to sell your home during these hours.

8. Trying To Sell To Window Shoppers

It is important to be able to distinguish realistic potential buyers from mere window shoppers. Often time's people who do not come through a realtor are several months away from buying, and are more interested in browsing the market than actually making a purchase. Many times they are not prepared to make a purchase because they have not sold their home yet, are not financially prepared, or they may even be unsure as to whether they want to relocate or not. Typically, a real estate agent should investigate a potential buyer's credit rating, savings, and purchasing power. This will help keep you from wasting your time marketing towards the wrong people.

9. Pressuring while showing

Buying a home can be an emotional and difficult decision. So it is not normally a good idea to pressure or negotiate with prospective buyers while they are viewing your property..   The presence of your family can make prospective buyers feel like intruders.  Buyers can better focus on your homes advantages by viewing them than by socializing.  If an open house is scheduled, plan to be away from home, but let the agent know how to reach you quickly. If you have to be at home when your home is being shown, be your usual friendly but low key self and keep children and pets out from underfoot.  It's the agent's job to show buyers what they need to see. 

10. Not Preparing Your Home for Sale

The home needs to be made a presentable and as pleasant as possible when attempting to sell to prospective buyers. Be sure to make any necessary repairs and clean. A dirty home in need of repairs will lower the value of your home and even turn away some buyers. Here are some Major ones; for a full list please Check out our Sellers Checklist

11.  Selling Your Home In As-Is Condition . 

In today's competitive market, most buyers will not even consider a house that needs fix-ups.  In contrast, a sparkling showcase home gets top dollar when it comes to the bottom line.  What most buyers are looking for is an inviting home in move-in condition, one that looks as good as a model home.  Buyers who are willing to tackle the repairs after moving in automatically subtract the cost of needed fix-ups from the price they offer.  Either way, you save nothing by putting off fix-ups and likely slow the sale of your house.

12. No Curb Appeal .

Your house gets only one chance to make a good first impression.  That's why curb appeal is one of the most critical points in selling.  Buyers are apt to fall in love at first sight or not at all.  If you home lacks curb appeal, chances are the first impression will not be counteracted by the most perfect floor plan or the most tasteful interior.  Spruce up the view of the hours from the street, including lawn, shrubs, shutters, windows, front door and mail box.  Add potted flowers out front, a wreath on the door, brass outdoor lighting fixtures whatever will enhance your homes buy me look. 

13.  Dreary Dungeon Cells. 

A clean, bright dcor is what buyers want.  Probably the best dollar-for-dollar investment for selling your home fast is fresh paint.  Neutral colors are best.  Next to fresh paint, new carpeting replaced for either condition or color makes a big difference.  Elbow grease can be as effective as spending cash to brighten your home.  Start by ruthlessly getting rid of the junk you've accumulated.  Clean each room top to bottom.  Dare to make your home look better than you've ever had it looking before.  Focus on the three rooms most inspected kitchen, master bedroom and garage (if you have one.)  In the kitchen, clear off counters and de-clutter cupboards.  Keep in mind, some prospects will judge the whole house by the cleanliness of the oven or refrigerator.  In the master bedroom, move or remove furniture to create spaciousness.  The ideal garage stores only cars and perhaps an orderly display of garden tools, so throw out your junk to show off room for theirs. 

14.   Lavishly Over-Improving . 

While it's important to fix whatever needs fixing to get your home ready for sale, undertaking a major project could cost more money than you would recover from the sale.  Spending too much on remodeling projects just drains money out of your pocket.  If your improvements will push your homes value more than 20% over the average neighboring home values, don't expect to recoup the entire cost.  Some major projects, however, like replacing a roof, should be done if they are needed. 

Not getting your home inspected before listing it.

15. Have general inspections done ahead of time.

Even though buyers will often have the house inspected again, it's best to prepare for any potential problems. "It can be very costly to the seller if he or she does not go ahead with the inspection before the offer is placed," says Gaylord. "You don't want to get stuck with a $7,000 fee because the termite, dry rot, and fungus report determined that the wood in the foundation of your house had deteriorated so badly that the whole house needs to be leveled."

16. Withholding information from potential buyers.

While it is tempting to hide or fail to mention the downfalls of a home -- perhaps it's a haven for cockroaches or located in an area that's prone to floods or earthquakes -- it is best to give buyers full disclosure. This kind of information can greatly affect the value or desirability of the property.

17. Not being objective about your home.

While you may think your purple walls or poly-classic columns are great, it is best to keep that opinion to yourself. "Sellers may feel they know their home best but that doesn't mean they are the best people to sell it. Most agents feel that a lot of people feel uncomfortable looking at a home if the buyer is right there. It's important to give the buyers space.

18. Take Your Boxing Gloves Off .

  No one wins if you enter negotiations with your boxing gloves on.  Instead, approach negotiations in a positive frame of mind, not as an adversary of the buyer.  After all, you both want the same thing a sale.  Leave most of the discussion of price, terms, possession and other conditions up to your agent.  Well make it our business to get you the best deal. 

19. Inflexible Financing.

  The more buyers you appeal to in terms of financing, the greater your chances of selling faster.  Be flexible.  Consider accepting FHA and VA financing, offering seller financing, paying closing costs or points, and providing a decorators allowance or other irresistible buyer incentives.    

20.   Don't Let a Buyers Contract Languish. 

One of the most important moves you can make is to reply immediately to an offer.  When buyers make an offer they are, right then, in the mood to buy.  Moods, as you know, change and you don't want to lose a sale because you stall in replying.

21. Misunderstanding the buyer's offer.

Carefully reviewing and understanding the offer or purchase contract is imperative. Here are a few things to look for: How much deposit the buyer has agreed to put down -- is it a significant deposit? Has the buyer asked for some credits to cover loan costs? Is the offer contingent upon the owner selling his or her current home? If so, how is the selling process going? "In most cases that contingency stays into effect until their deal closes so you better find out if their home is priced properly,"

22.Not investigating your buyer .

Once you have an offer on the table, it's important to secure letters of pre-qualification or loan approval from the buyers. These letters should not only state that the buyers' credit has been checked but also that it was acceptable to the lender. Also, it's important to ask buyers to complete a loan application and submit it to their lender within a few days after acceptance of the offer.

23. Not proofreading the closing statement.

Carefully review the statement, including the loan balance, repairs, and other expenses that are detailed in order to avoid last-minute surprises or errors. Make sure you get an estimated statement a few weeks prior to closing and compare the final statement to the estimated one.