When a seller refuses to listen to the market, he hurts himself by overpricing.  Overpricing makes the seller wait longer and lose money.  Case in point:  A seller listed his lakefront property for $499,000 in 2011.  After four years of waiting for a buyer, he sold the home for $129,720.  Do you want to wait that long for that much less?

Listen to the market.  Listen to your real estate agent.