When you put your home on the market, you need to get the price just right. If you price your home too low, you will be flooded with offers, but you will be giving up thousands of dollars in potential profit. If you price your home too high, you could score a profitable sale — or you could watch your home sit unsold for months.

If you've listed your home but it's not selling, talk to your listing agent about the price. These are some signs the current list price might be too high:

Comparable homes are selling for less

Comparable home sales do not tell the whole story, but they are part of the picture. If similar homes in your neighborhood are selling for thousands less, it could be an indication that your property is overpriced.

It is important to compare apples to apples when looking at comparable home sales. If your home has attractive amenities that other similarly sized properties lack, those benefits could justify a higher price. But if your home is roughly similar to lower-priced properties or it's missing standard amenities, you might need to rethink your pricing.

You listed with an agent whose suggested price was far higher than other agents' recommendations

Realtors vary when it comes to pricing strategies, and some are more aggressive than others. However, if you talk to multiple Realtors and one suggests a list price that is way out of line with the others (high or low!), exercise caution. It's highly unlikely that multiple agents will arrive at the same price, but ask some questions before you go with an outlier. What comps did the agent use to prepare the comparative market analysis? What are the qualities of the property that justify the higher price? How long does the agent recommend waiting before going lower?

Bottom line: If you were concerned about price when you first listed your home, it might be time to listen to your gut.

Your home lacks widespread appeal

Custom amenities can be very appealing to a select few, but those customized add-ons sometimes lack widespread appeal. If your home is not selling while others are flying off the market, you may need to cut the price to attract more buyers.

Selling your home means viewing it through objective eyes, namely the eyes of a would-be buyer. You may love your swimming pool and steam shower and genuine marble countertops, but not all buyers will be willing to pay for those amenities.

Showings are few and far between

If you can't remember the last time you had a private showing, potential buyers could be passing up your property because of a too-high price. You might have decided to list at a higher price so you'd have negotiating room, but if it's way out of line, buyers may assume you won't be willing to deal.

In addition, think about how buyers search for homes. Often, they are looking between a minimum and maximum price. Lowering your price even a few thousand dollars can get your home in front of a whole new set of potential buyers.

The market has changed since you listed your home

Sometimes market forces conspire against you, and a changing market can take a real toll on your asking price. While your price may have been realistic when your home hit the market, even a small change in inventory or economics could price you out of the market.

Be sure to keep tabs on the local market and communicate with your Realtor about changes that could affect your listing.

To talk about pricing strategies for your home, call me at (540) 353-0123 or email me at sonya@sonyadickinson.com. Be sure to like my Facebook page.