Real estate broker and author Sid Davis has identified in his book "A Survival Guide to Selling a Home" seven costly mistakes that many sellers make when they put their home on the market. In my business, I've seen each one of these mistakes played out, and it just makes me shake my head as to why sellers forge ahead with unwise strategies instead of listening to the voice of an experienced professional.

Mistake 1:  Putting the home on the market before it's ready. This usually happens because the seller gets impatient or is a procrastinator and has pushed himself up against a moving deadline without getting the pre-sale work done. So it comes on the market with the horrible carpet (that gets replaced during the marketing of the home); or they are painting it while it goes on the market. Presentation is everything -- so get the work done before marketing the property.

Mistake 2:  Over-improving the home for the neighborhood.  This happens with additions, bump outs, and upgrades that make the home stick out from among its competitors so much that it'san anomaly instead of a nice addition to the community.

Mistake 3:  Pricing the home based on what the seller wants ("needs") to net.  This pricing strategy always ends in failure.  Sellers can control the "asking" price, but they don't control the "sales" price.  The market does.  It doesn't matter what the seller wants; the price is determined by the black-and-white, matter-of-fact realty of the market.

Mistake 4: Hiring an agent based on non-business factors.  Make sure you're hiring a professional with a proven track record, like the members of R. L. Rathbun & Associates.  It might be nice to hand over your largest asset your newly-licensed relative or friend.  Nothing like the ol' trial & error method of learning -- wasting your time, and wasting your money!

Mistake 5:  Getting emotionally involved in the sale of the home. This is one of the biggest challenges home sellers face. Once you decide to sell your house, it's no longer a home, but a commodity. It needs to be prepared as a commodity, marketed as a commodity, and priced as a commodity. People are going to come in to kick the tires, so to speak, and you can't get emotional about how they may or may not appreciate the nuances of your home of seven years.

Mistake 6: Trying to cover up problems, or not disclosing them. Most states have a property disclosure/disclaimer form -- use it wisely. Just because you disclaim doesn't mean you cannot be sued later for the leaky basement or dilapidated heating/air system that's discovered 30 days after settlement.