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Some additional thoughts about the subject of pricing

I always encourage people whose homes have failed to sell to analyze their pricing by asking themselves the following questions. 

1. How did you determine the listing price? 
2. Did you hire the agent who suggested the highest listing price or the agent with the best sales, marketing and negotiating skills? 
3. Was a competitive market analysis done by an experienced, successful, full-time agent? Was the market data it focused on primarily regarding closed sales (properties that went into escrow months ago) or was it instead focused on pending sales (properties that went into escrow very recently)?
4. Did the listing agent discuss with you and demonstrate for you their undertanding of absorption rates? Did they discuss with you how the use of this information is critical to making sure your house sells and that you receive the highest possible net proceeds?
5. Did your list price motivate qualified, eligible buyers and their agents to reprioritize their lives to respond to what you had to offer?
6. Compared to when you listed your house during this previous listing period, is your house now worth more, less or the same?