Apparently Smart Money finally became educated on Smart Real Estate.

Top mistakes sellers make, according to Lisa Scherzer-Senior Editor, with our input:

1.  Vet your real estate Agent!:  Area, Price point, results, average negotiation.  This is a job interview, and you are the employer.  The days of, "my niece just got her license", or "Friend from church", are ABSOLUTELY OVER.  If you aren't getting results ask for an immediate release, which should be part of your contract, or pre-agreed.  Remember, you're an employer.

2.  Setting the price too high!:  Financial decisions are best made with all of the facts.  Consider obtaining more than one opinion.  Select a price carefully, and re-evaluate every 3-weeks.

3.  Don't wait for a Market Rebound!:  Waste not want not....Don't waste time.    Whether it's stocks, bonds, savings, or virtually anything financial, the outlook today is 3-weeks-to-3-months old.  Waiting can cost thousands in a declining market...or a advancing market. 

4.  Don't skimp on Listing Photos:  Pictures must represent the space.  Kitchen, Bathrooms, backyard space, aerial photos...are all necessary.  Insure that the agent you select is savvy in both technology, and willing to make an investment in the presentation of your home.

5.  Stay away from False Advertising:  Photoshop is great, just don't plant the neighbors shrubs digitally, and don't let your agent do it either.  Don't hide an issue...disappointed buyers are distracted buyers.  Distractions costs time and money.

6.  Give incentives:  Get Creative.  Offer closing costs, couple of months of mortgage payments, golf community-consider offering dues.  If a buyer is interested, but continuing to look, write them an offer, and request a response.  A buyer isn't the only one in a transaction that has the ability to write an offer.

7.  Don't wait to fix items!:  Repairs must be made immediately, and must be made prior to a buyer identifying them.  If the furnace is shot, replace it before an inspectors says it's shot.  If repairs are left to the buyer, consider that the cost of the repair in the negotiations will include the buyer insuring that they have enough money...meaning a $100.00 fix becomes $125.00.  Ask me about the First American Home Warranty.

8.  Don't take offense to low offers.  Everyone wants to be an Arm Chair Economist.  Buyers are being bombarded by their agent, their family, the media, and the Internet with information and statistics that are drawn from national numbers vs. local numbers, and those outlooks are inaccurate.  Inaccuracies caused by numbers being dated, the sample being skewed, or quite simply which polical idology the mediam views as high profit.  As an example, I watching CNN this morning, and listening to the BANK STRESS TEST reporting.  Consider that accountants do not produce financial documents, or profit and loss statements in an instant.  Accountants produce financial documents monthly, quarterly, and annually.  We're listening to data from December 15-March 15.  Gotta love breaking news.  Make the buyer see value, as compared to competition.  Comparison is the best economist.  I didn't catch FOX this am.

9.   Don't fail to do your research on whether buyer is qualified.  Standard block and tackle.  Insure that there is an approval vs. pre-qualification.  Ask a lot of questions regarding employment, and fund verification.  Insure that the lender is a company that you know, and an institution that has a brick and mortar address that you have driven by.  80% of the Mortgage Brokers that were successful in 2006 have either closed, consolidated, merged, or changed their name.  WellsFargo, Bank of America, Bank of Blue Valley, Pulaski Bank all have a distinctive ring to them, "Kaaa-Ching".

10.  Be available for showings.  Showings are less frequent...and therefore more important.  Insure that you're reasonably ready at all times.  If they show up in the driveway, like the exterior, and want to see the inside...be prepared to show in less than 15-minutes.