1. Choosing an agent because the agent , who just got a license , is a family friend . In a seller's market it did not matter much, but in this market, experience counts. Choose an experienced agent who has sold in the area and check references.
2.Pricing their house based on what their neighbor told them was the selling price of their house. Sometimes neighbors may exaggerate and not tell the truth. The agent will show you a market analysis and the exact price that your neighbor sold for. If you read in the newspaper that it sold for a certain price, it does not show if the seller helped with closing costs. The actual amount that seller received may be different.
3. Choosing an agent based on what the agent tells them the house will sell for. Agents may give you a price range. They are not the buyers. The price will be determined by the buyer who makes the offer.
4. Choosing an agent based on commission they charge. . If you are experienced and can handle the details involved you may want to list with someone just to get in the multiple listing or internet or with a limited service company. If you are busy and have another job besides selling your house, you may want to use an agent who does more than list in the multiple listing. You want to get all the help you can get in this market. Real estate sales involves negotiating, marketing, knowledge of the market, and people skills and is a full time job.
5.Pricing their house too high, saying, 'we can always come down in price." You create maximum interest in the property in the first two weeks when it comes up as a hot listing. If you list too high, some people may not look at your house.