According to a recent CNBC.com article, today’s market conditions have prompted at least one real estate brokerage to act decisively. Coldwell Banker Real Estate has asked its sellers to lower their asking prices by 10% as an incentive to buyers. Based on this and the multitude of economic changes happening day by day, one thing is clear: In light of today’s tough economy and the softer real estate market, it’s time to start rethinking your selling strategy.

Before you do anything else, ask yourself: Is it possible your home is priced too high?

Forget what you want to get and what you thought you’d get. It doesn’t matter how much your home was worth five years ago or what you expected it should be worth by now. When it comes to home values, there’s a simple bottom line: Homes are worth what buyers are willing to pay—period.

According to many experts, there are currently more homes on the market than there are buyers. This means buyers get to be picky, and they’ll be expecting a good deal. Inaccurately high prices result in disinterested buyers and complicated and incomplete sales. Take time to research comparable properties and to study home markets to ensure that your property is priced for a quick and fair sale for all involved.

Not sure where to begin? Take a look at these other Buy Owner Blog articles: “Why Your Home Isn’t Selling, “6 Tips for Selling in a Slow Market” and “The Mistake You Can’t Afford to Make.”)