This is probably one of the most common questions that home owners have. When selling a home, there are few things that are more inportant then pricing your property properly. Keep in mind that pricing a home is not a science, it is an art. Furthermore, it is critical that you and your Realtor are working toward the same goals. With this in mind, I recommend that you work with your Realtor to develop a pricing strategy.
This strategy would start with what your needs are (how much are you into the home? how much do you have to clear? how quickly do you need to move? etc), once you have clearly identified your needs and goals then you can build a strategy around that. My team does this with every home that we sell prior to listing the home. By doing this, you are being proactive and not reactive. You already have a plan to follow based on specific benchmarks (number of showings, offers received, internet activity, etc.)
My other recommendation is to ask your realtor for a weekly status report. Ask them for information on showings (and the feedback from showings), number of hits on the listing online, and number of times the listing was emailed or called on. Not every agent will have this information readily available, but all agents can provide you with it, and the good ones will not only have this info, but should be able to explain any trends and give recommendations based on the data. Lastly, remember that all real estate is local. This means that the market for your home is specific to your home alone. Working with a professional who understand the market not just in Missouri or Chesterfield, but your individual sub-division is essential for a smooth sale.