Thanks for posting this question. Many people are in the same boat, so we get a lot of posts like yours.
Here are a couple of truths that should help you:
1. When you interviewed and selected your Realtor, what expectations did you develop? When I meet with a seller, part of the listing agreement is more than just the paperwork. I need to know why they want to move, how much they want to net, and what alternative outcomes are agreeable.
For example, if you HAVE TO MOVE, then that goal is paramount. If you will ONLY MOVE if you can net a certain amount, then that goal is paramount (and I may not take the listing...because you don't HAVE to move).
2. To accomplish the sale of your home you need three things to happen: Showing acitivity, offers, and an ACCEPTED OFFER. So the goal is to first create a listing that Realtors will show. I expect 10-12 showings in the first two weeks, or we adjust the price. The industry standard is that if we can sell the home in the first 30 days, it will sell closest to asking price. The longer it sits on the market, the more value it loses.
3. Once we have an offer (or offers), make sure that the buyer is qualified (and in this financial climate that is a shaky proposition sometimes), and negotiate the best terms and price to help my client net out as much as possible.
Now in your case the market is very slow compared to last year. According to Trulia you have had only 33 sales in the last three months compared to hundreds last year, so you need to be the BEST VALUE to sell. That probably means priced BELOW market.
Remember, it is not how much you owe, how much you paid, or how much you need to net. Buyers will buy the best value home FIRST. I'd be asking my Realtor so show me the homes that buyers have to choose from like mine. These primary competitors needs to watched like a hawk. Look at these homes, make notes of any special features, selling bonuses, etc. And these change weekly, so you need to be getting regular reports on your competition.
Hope this is helpful.