David Letterman's  featured "Top Ten" list is a staple of his nightly TV program.  Here's our version for you as a home seller.  This  may be somewhat tongue-n-cheek, although valuable lessons. 1. NOT PROPERLY PREPARING YOUR HOME FOR THE EYE OF THE BUYER: When was the last time you stood across the street and really studied the look of your home?  Don't  underestimate the importance of making a good first impression. It begins at the street.  We all know why home builders spend the big bucks decorating their model homes, right?  Put yourself in the same place. If you are competing with other homes for sale in your area, how does your home honestly compare? A really green lawn is essential.  Use arid landscaping in more appropriate areas.  De-clutter the inside, box up everything you're not currently using.  You're going to be moving it anyway, right? Neatly store boxes in your garage or basement.  Remove the refrigerator art, all those things from the kids.  It may be charming to you.....to a buyer it's  just "stuff".  Make things light and bright, lights on during showings, including daytime in dark rooms.  Remember the way you live in a house and sell a home are two different things.  A fresh coat of paint and new carpeting (depending on present condition) are the two most-cost effective items.  Offering flooring/painting allowances rarely have the same impact or benefit to a potential buyer.  It's difficult for most buyers to imagine what it could look like.  They've got to see it and smell it to appreciate it.  Regarding pets, keep them out of the way.  Better yet,  out of the house.  For safety, keep stairways and walk-ways clear.  Remember that old saying "you won't get a second chance to make a good first impression". 2. INCORRECT PRICING FOR THE MARKET: It's crucial to understand if you are in a market of appreciating or declining values?  What's going on in your immediate area/region?  How does the supply of available inventory (other homes for sale) measure up with the demand?  Are there other factors to consider? Unemployment V.. new job growth?  Knowing the facts will help you position your pricing appropriately.  Understand value of positioning V. pricing.  Recognizing this, makes the difference between your home selling or, helping another home seller.  Sometimes on-line competitive sales info can be miss-leading.  Information may not always be current.  In a declining market sellers often follow other sale prices downward.  Conversely using out dated sales could cause under-pricing.  Another consideration is, once a price has been agreed upon the lender/bank must concur.  The buyer may be willing to pay your price and terms; however, the lender must also be in agreement.  The appraiser for the bank/lender  must also be able to justify the value of your improvements.  Emotional attachments to items will not have the same impact when crunching the numbers. The appraisal usually  determines the amount  the buyer can borrow.  Appropriate pricing is key to a successful sale. 3. SIGNING A LONG TERM LISTING CONTRACT WITH NO WAY OUT: Agents often ask/expect a listing  contract for up to 6 months.  Make sure any contract has a written performance standard.  Most agents work hard and do a good job, yet ,like everything there are exceptions to most rules.  Be sure the exception is not yours.  Ask your agent for a written marketing plan and performance guarantee.  In the event the terms are not met, what are your options?  Are you able to cancel your listing agreement?  Do you have any financial obligations to the agent or the brokerage?  Are you able to hire another agent to represent you immediately?  Or, are you still tied to the original agent until the full expiration of your original agreement?  Yes, you may be able to remove your property from the market, however you may still be committed contractually.  Depending on the situation your hands may be tied.  It's sort of like being newly divorced, yet not final.  A "HOLD" or "NO-SHOW" status is not the same as a full cancellation with no-recourse. Be sure the brokerage is also in agreement with any contractual amendments made by the agent.  Even though most agents do a good job and work monumental hours, be wary of an agent who is not confident enough to work without an exit or cancellation provision in the contract.  GET EVERYTHING IN WRITING! 4.  MISTAKING LOOKERS FOR BUYERS; SOME THINGS ARE NOT AS APPEARS: If you're going it on your own as a "for-sale-by-owner", take a deep breath and be willing to ask the necessary qualifying questions.  Not everyone who is looking at your home is a "ready, willing and able buyer".  Every now and then an agent can also succumb to the same situation.  Fortunately, good agents recognize wishful thinking of a buyer while asking a series of questions.   The following questions may go something like:  "Is this the price range you are considering?  Have you talked with a lender?  Have your been "pre-qualified", or have you been "pre-approved"? Does your buyer provide any information on a credit rating, like their FICO score?   Do you have another home to sell to buy this one?"   Sometimes buyers can be qualified; however, they may not be ready to make a buying decision. It's not uncommon for buyers to look at homes up to six months in advance of their intended purchase.  A VERY important  question, "How soon do you want to move?"  An answer of: "We've been looking for a  year, (or) when the right property comes along, we will know it" would qualify as a "looker".  The responses of: "We've been transferred, or we've just sold our home" means serious business.  Also when it comes to buyers, understanding the differences between "needs & wants" is essential.  A really great Realtor understands the difference. Just ask them the question.   Understanding FICO scoring.  5. USING A HARD-SELL TECHNIQUE: Take a moment and consider trading places,......How would you feel having someone following you around and looking over your shoulder?  Buyers can usually smell "commission breath  & over-eagerness" from agents and sellers alike.  Give them a break........let them take a breath and look on their own.  Buyers will appreciate discovering some things for themselves.  After all, items  important to you may not be the same for your buyers.  With that said, please understand strangers will be coming into your home.  If you've hired a Realtor, be sure they have discussed this with you.  If your going it on your own, remove valuables (lock them up outside of your home) while your home is for sale.  If you have  Open-Houses, remember, they can be an invitation for problems.  Also, be wary of your own personal safety during an open house.  Always have a safe way out. Do not lead buyers upstairs or down the hall without a  way out. This is a must for home sellers and Realtors alike.  If necessary, you do-a-"Vanna White" and point the way upstairs or down the hall, .....then follow behind, but not too close.  Don't worry about offending, and don't be a target.  Remember your safety is more important than trying to make a sale!  Regarding pets, keep them out of the way, and better yet, out of the house.  Noisy TV's off during showings.    More Showing Tips 6. UNREALISTIC EXPECTATIONS, IT'S MY WAY OR NO WAY: Remember the need to be flexible on  your terms and conditions of sale, depending on the dynamics of your individual marketplace.   How many other homes are for sale in your neighborhood and price range?  Are prices going up, or down? Are you the only game in town in a highly sought after school district or  neighborhood?  If so,  you can play "king of the hill" when it comes to selling your home.  If not, often the seller who is more adaptable will get the sale.   And keep in mind, when considering a buyer's  offer consider all the terms and conditions.  Price may be first, however not always foremost.  How much does this buyer have as a down payment?  What type of contingencies exist, if any?  Does the buyer have another property to sell?  What type of move-in date is involved?  Is the buyer looking for help with financing or closing costs?  Financing options and concessions may also vary depending on price range.  Is your home entry-level housing for your area? Entry-level buyers may need help with costs of purchase or other concessions. Most first-timers are looking for "How much down and how much a month?" therefore offering you a higher price to compensate for costs.  Some up-scale buyers may enjoy the thrill of negotiating a more bottom-line price.  Be open and understand how your home relates to the marketplace.  7. THE ABSENCE OF A WRITTEN PURCHASE AGREEMENT: Homeselling101 rule, ALWAYS have it in writing and understand what you are signing.  Most states require a real estate contract to be in writing.  The days of a handshake have been replaced with written documentation for everything.  Remember when you were a kid and you played a game like "I've Got A Secret".  You sat in a circle and whispered into the ear of your friend and that secret was passed around the circle. By the time it came full circle, how close was it to the original statement  or story?  The same thing can happen during the home selling process.   A seller may make a statement meaning one thing, and the buyers hear something else.  Leave nothing to memory.  What's included in the sales price? What stays and what doesn't?  Need any additional repairs?  Who fixes/who pays ? How soon after closing does your buyer get the key?  These are all part of your negotiations from the very beginning.  When and if anything changes, it must be agreed upon by all parties. Be sure any changes are in writing.  It's also essential that a seller's disclosures/warranties be in writing.  Keep in mind, in some states the laws also provide the buyers with an option to cancel or rescind an agreement based on written disclosures.  You need to know the laws in your state.  Consult with your Realtor or an Attorney in your area. 8. NOT UNDERSTANDING THE ROLES OF OTHERS IN  YOUR SALE: If you are selling in a state using Escrow companies, recognize they have the role of a "neutral third party".  The escrow professional (officer) follows the instructions from the seller and the buyers alike.  That's why escrow documents are called escrow "instructions".  If you are working with an agent who is also a Realtor, they have a Fiduciary responsibility to you in your transaction.  That means they are required to act in your best interest while negotiating among many other things on your behalf.  Housing inspectors are normally hired by a buyer to evaluate the condition of a home, sometimes as a contingency of the agreement.  Other  inspections and contingencies could include radon, asbestos, mold, pest control, geological....etc...etc.  The appraiser (different than the housing inspector) usually confirms the value paid for the property  and normally works for the lender/mortgage company.  Title companies search ownership interests and may provide an insurance policy at closing.  Property line surveys may or may not be required in a transition.  Attorneys in some states (however not all) negotiate at the closing table.  In some states the negotiating is agreed upon in the beginning.  Who pays for what, and how much?   Know the roles and players involved in your transaction. 9. THINKING TIME IS ON YOUR SIDE: Some sellers mistake the importance of a time-line.  Contingencies (the occurrence of a stated event which  must happen before a contract is binding). Example: the sale of your buyer's home, a buyer obtaining financing, or a satisfactory housing inspection to name a few.  Most contingencies have a written time period for compliance.  Both buyers and sellers need to be aware of their individual responsibilities when it comes to satisfying these contingencies.  Failure to fulfill the contingency agreements could result in a non-binding contract by either party.  Some states also have mandated time restrictions for property disclosures, home owner's association documents, or common local ordinances, etc.  Are you "in contract or out?"  Does a buyer have the right to withdraw an offer to purchase based on the time frames within your agreement?Untimely removal of these contingencies could mean  the loss of a sale at the 11th hour.  It's important that all persons clearly understand their duties, responsibilities  and commitments.  Some contingencies require removal in writing, while others may be deemed satisfied based on silence of an issue (check your contract).  Be sure your understand the difference. The familiar saying you've heard for years "timing is everything"  does apply in real estate.  Stay within all the guidelines and time commitments throughout your contract. 10.  THINKING ALL AGENTS ARE THE SAME: Most consumers think all agents are also Realtors. Not true.  Agents are licensed within the requirements of the jurisdiction or state.  Realtors are licensed agents who also belong to the National Association of Realtors (NAR), one the the nations largest trade associations.  As a member of the National Association,  Realtors pledge themselves to act in the best interests of their clients, the consumer.   Like most organizations, levels of education and credentials also have an important role.  NAR offers levels of higher education within the organization.  If you are interviewing Realtors, ask if they have any credentials certified by NAR, the National Association of Realtors.  If they're not sure what you are asking, be polite and say thank you for your time.  It takes an extra effort and commitment to earn the professional designations.  Like many other professions and trades, not all are willing to invest their time and $$$$$ to work at this level.  Real estate is obviously not life or death however, it is one of life's biggest financial decisions.  Why wouldn't you want the best person for the job on YOUR side?  Wouldn't you rather have a Realtor who thinks more about YOU than being #1?   Check out "Top 12 Agent Interviewing Questions" on this site for more valuable information.