If you have never sold before or are still new to sales, sometimes you get so excited that someone is interested that we forget to do a key step early on in the process: Qualify your client. This goes for both buyers and sellers.
For buyers it is usually handled right away with the the buyer going to see a lender to find out what they are qualified to purchase with regards to budget. We may also ask for proof of 
funds if this is an all cash buyer or at least a letter stating the funds are available.
We do this because we want to make sure that we are not wasting the client's time nor our own. It helps develop the criteria we will use to help our clients find the next home they can afford. I was speaking with another agent while attending a class recently and they will simply not take any buyer out without them being pre-qualified.
People may not realize that it is the same for sellers. While they may not have to be pre-qualified by a lender (although I guess you could consider it some sort of qualification for a short sale) but the seller has to know what they are going to net. The "net sheet" is a perfect tool for that. It is better to know upfront if the sale is going to cost your client or if they are going to receive funds early on in the listing process than at the closing table.
Another area to be concerned with especially when dealing with matures is the question of competence. If you are called in to list a house for someone who is experiencing some difficulties understanding the questions and processes, please stop and let them catch up. Take note of the situation. Ask if anyone else will be involved in the decision. When in doubt ask them directly if they are feeling well enough or if you should come back.
Remember you are trying to eventually get a valid signed contract. In order for that contract to be valid we have to remember COLIC - Competent Parties, Offer and acceptance, Legality of object, In writing and signed, and Consideration. That first one is often overlooked until later. Remember to check especially when dealing with matures.
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