Home Sellers Biggest Mistakes:  Some people say the best way to own a boat is the day you buy it and the day you sell it.  Home ownership is nowhere near that unless you own a houseboat. The best days of home ownership which is the American dream starts the day you buy your home the whole way up to the day you sell your home.

Over Pricing Your Home: Is by far the biggest mistake a home seller can make. When it comes to pricing your home, it is an art. While part of the market is based on comparable values and sales. Other factors that include market conditions, movement, condition, demand and location are just as important. When the average seller sits down with a real estate agent it is very easy to get caught up in the excitement of choosing a sales price. The higher the sales price the more financisl opportunties open up for the home owner.  Unfortunately, many sellers choose an agent who suggests the highest list price which is the worst mistake a seller can make.

Establishing Value: The truth of the matter is that the buyer determines the actual market value. Sellers and agents don't.  The home is only worth what the market will bear and what the buyer is willing to pay for it.

Over Priced Homes: Human nature being what it is. If the home is over priced, buyers might submit low ball offers which normally result in immediate rejection. The home may not receive any offers and sit on the market for an extended period of time. Many buyers think a home that is on the market for a long period of time might have something wrong with it. 

Unfortunately some agents deliberately overstate the value of  a home and push the seller to sign an overpriced listing. That is why sellers lose a competitive edge when they have to reduce to price. Many sellers along with "For Sale by Owners" can get stung if they do this.