Do a price reduction to the price that you are willing to consider accepting. Yet in order to come up with the right price, your agent should have already done the market research on any sold, pending and active properties similar to yours. He should have the comparable for the last 3 months of those houses in about 2 miles radius in the vicinity of your home and show you the results. Statistics are very important to help determine a logical and objective asking price. That will give you a chance to see the current market trend so you could make you own decision.
If possible it will be a good idea to have the asking price just a little lower than the overall market price in your area, to encourage more buyers to view it. Many houses priced too high and end up reducing and not sell for a while is because I know a lot of buyer have a price set in their mind, if it is higher than they would like or expected, they rather choose to not view it at all. I have always told my sellers, I do my best to get the maximum price for their properties. But I cannot sell their house if no buyer come to view them. I seen it over and over again, when buyers saw a house they like, they are willing to go all out to get them, it is amazing! Creating multiple offers are one good way for sellers to get the maximum price for their properties. Of course, to prepare your home and stage it before putting it up on the market is another part of selling a home. But that will be in another email.