OVERPRICING

By following recent home sales in your area, you can avoid unrealistic expectations stemming from runaway price growth over the past few years. Each day an overpriced house sits on the market is another day the sellers miss the opportunity to attract the right buyers. Price your property close to what you'd actually accept.

UNDERPRICING

On the other hand, some sellers underprice their homes in hopes of starting a bidding war or making a quick sale.When your listing price is too low, you risk turning off prospective buyers who might suspect there's something wrong with the house. You could also be leaving money on the table when would-be buyers present a lowball offer on your underpriced property.

GLOSSING OVER THE COMPS

Your agent will find the best comparable sales of homes similar to yours in features, location and size. Their comparative market analysis can help you nail the asking price. You may not agree with everything in the comps, but try to be open to the information presented.

OVERVALUING UPGRADES AND IMPROVEMENTS

As frustrating as it is, you're not likely to get back 100% of what you paid for upgrades to your property.Check the comps to see what impact improvements have made on the selling price of other homes.

EMOTIONAL ATTACHMENT

Getting too emotional when selling your house can complicate what is essentially a business transaction.Try to think of your property as a large asset you can put toward the purchase of your new home.