“I’m not sure I should reduce the price on my home. Won’t that give the impression that I’m desperate or there’s something wrong with my home?”
Quite the contrary.
The typical reaction of agents and buyers is something like, “Oh, look, they’ve reduced the price on that one. With a more attractive price, maybe it makes sense to buy it now.”
The alternative is sitting at the same price that the market has already rejected.
This is a losing strategy unless you’re in a rapidly appreciating market, which is not currently the case.