You have to understand that the market can shift suddenly, which can result in a drastic price shift.
Due to supply and demand, home prices have come up. But using a Realtor who properly educates the Seller on pricing their home, and identifying their motivation is resulting in a much quicker turn around. The key is timing...after 30 days, the listing begins to grow stale in the Buyer's eyes, and even though they take price reduction after price reduction...it's too late!
Unfortunately, some overpriced listings are there because the Seller was not properly educated, or the agent may be giving the Seller false hopes on a price, simply to get a sign in the yard, and get Buyer calls.
The properties I am seeing sit...and sit...and sit, and FSBO's. Unfortunately, in most situations, they are so attached (emotionally) to the home, see the market (less inventory), and have a tendency to overprice their homes...hence they sit.
So finding the right agent for the job is imperative...not just the guy with the most signs out there!