Sellers often decide to go solo without enlisting the help of an agent for the sole purpose of being able to save thousands of thousands in agent's commissions. If you do decide to sell your house on your own, make sure you know your county and state rules and regulations and what disclosures or disclaimers you are required to present to a purchaser.

Sellers make mistakes by not having written inspection reports to show to prospective buyers. The regulations about asbestos, radon and lead are fairly stringent and must follow governmental guidelines. Ensure that professional house inspectors have the capability and certification to do these tests. Know when to give up. If your house is still in the market for a year, even if other homes are selling like hotcakes in the neighborhood, then it is time to take a step back and see what you are doing wrong. A real estate agent may be your alternative.

In terms of pricing your home, sellers who are looking to make a lot of money tend to price their property way too high, making it out of reach to buyers who are looking at similar properties in the same location. Do not price your property for what you would like to get for it. Price your house for what it will sell for. That being said, you will know that you priced your house too low when it is bought the same or next day after you or your agent advertised it. The problem is that in this market even underpricing below market value does not guarantee a quick sale.

Obviously, as a seller you want to get the highest price you can get for your property so you start with a high price. The buyer, on the other hand, will offer the lowest possible price he can negotiate. So you start high and he starts low. This creates plenty of room to negotiate the gray area that lies between the highest and lowest prices. In a seller's market it is imperative that seller's are flexible. Buyer's have a lot of choices nowadays and if you are not willing to negotiate, they will simply go elsewhere. That is, of course, assuming you were able to attract the buyer in the first place.