What I am noticing these days in my local market is that when it comes to selling a house to most buyers, it is all about the price! Buyers realize that they can get so much more for their money, so they will search only those listings that are priced the most aggressively.
CAR reports that the time it takes for houses to sell has increased year over year. According to the California Association of Realtors website:
What this means for us agents is, we owe it to our sellers to give them a clear picture of a realistic selling price. I often see listings hit my MLS and think, "do they really not want to sell this?" We must make an assessment of our selling clients before we write up a listing contract. Some folks do just want to 'throw it out there' and 'see what happens'. In that case, kudos to you who take their over-priced listings. I, however, often hear from sellers that they don't understand why their former agent could not get any offers on their house.
I like to take a pro-active stance and send regular CMA reports to my sellers. They get updated sales reports every few weeks. If they really want to sell, they don't need me to tell them about pricing their house right, they can see it for themselves in the numbers.
If you price it right, they will come!