If your home is languishing on the market, don't hesitate to lower your price.

Thompson says there are three basic elements that sell a home: condition, location and price. Of the three, price is the one that sellers have the most control over -- and it's usually the culprit if a home is not selling.

"It's almost a real estate law that if your home isn't selling at roughly the average time that a home in your market is, then it's overpriced," Thompson says.

If your home has been sitting on the market for several months, you need to lower your price. Deciding just how low to go might require a reevaluation of your local market.

"In most markets in the country today, if you've had your home on the market for more than two or three months, even if you originally listed it at the right price, you're now overpriced because home values are generally declining," Thompson says.

If you find yourself in this situation, have your real estate agent give you a new comparative market analysis. If you've had your home appraised, you may be able to get an updated appraisal for a reduced fee.

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GO TO: FrontDoor's Guide to Pricing Your Home

More on FrontDoor:

• Home Seller's Guide
• Selling Smart: How to Sell Your House in a Buyer's Market
• Selling Dos and Don'ts
• 10 Ways to Increase the Value of Your Home
• For Sale By Owner Guide