You said your home had a market value of $460,000 a year ago. According to who? It's market value is what someone is willing to pay for it - not it's appriasal, not what it was compared "comped" at. If it's at $385,000 and it's past a month on the market are you gettting regular showings. If you are getting regular showings but no offers - hang in there. If you are not even getting showings you are overpriced, not being marketed broadly enough, or you need to fix/clean it up. Under most circumstances you can lease it while it's being marketed but tenants can mess up your investment, they can say "sorry, can't show it today" and make it nearly impossible to sell. Consider that by reducing your price you may take a hit BUT when you buy your new home you could recoup that money in what you SAVE on your purchase. Pay the standard commission and don't try to lowball the agents. Someone who can show homes and get 2% or show a home and get 3% will be more inclined to show the one where they will get more compensation. I'm not saying it's right but just as you are trying to make the most money, so is the agent. Also, consider what other points you might be able to negotiate to make your listing more appealing. Have an appraisal done, have a survey done (so the incoming buyer doesn't have the up front costs) Offer a home warranty so they don't have to worry about sinking a lot of money into a home and then not having any to spare if something goes wrong. Hold a "broker open house". Offer a simple lunch, beverage and dessert and have LOTS of AGENTS come over -- your agent should arrange a mass email or fax to every office in the area to announce it. By doing so it becomes more then words on a computer, they can recommend it to buyers based on what they've seen. Have a barbeque and invite the neighbors. Yes, even the ones you don't know. It's amazing how many people WANT to see inside your home but don't want to "bother" you. Make it easy for them. Neighbors sell homes by telling their friends and relatives!!! Make sure your agent has it in every available web site with multiple pictures. Statistics can lie but (supposedly) homes with more then 6 pictures get about 300% more viewings. And feel free to call me, our company is #95 in the country and we do business across the country.