Ebay.com is probably one of the greatest and most efficient economic markets ever built.  What have we learned from eBay?  That products that are priced correctly get all the bidding action and sell for more money than products that are overpriced.  If you put your car for sale on autotrader.com 5% above 20 other identical cars, you will get no action. However, the second you drop your price to 'market', buyers show up in droves.  The same is true with your house.  The market will speak loud and clear whether your home is worth your asking price or not.  If you underprice and have a good agent, you are likely to get the attention of all buyers in the market, spark a bidding war, and drive up the sales price to market quickly.  On the flip side, if you overprice, your home will sit on the market with few showings and no offers.

In reality, when a home doesn't sell, many times it is not always the fault of the agent but rather due to an unrealistic sales price.  Many home sellers start playing "Realtor Roulette" by constantly bringing in new agents instead of treating the real issue of price.  You can't defy the laws of supply and demand.  While we all strive to list homes at the market value, it is ultimately the responsibility of the owner and the agent to listen to the market and make the needed price adjustments. 

It is amazing how many consumers get angry at the idea the market has dropped 5% in the last year and refuse to sell unless they get last year's price.  It is akin to buying a stock for $20 per share, seeing that stock rise to $80 per share at the peak, then being mad that you had to sell the stock for $75.  Nobody can perfectly time a market, so rejoice in the profit you do have and focus on the money you earned—not the small amount you lost recently.