Estate agents.

Ooooo yes. BUT not selling, letting. When I went to work overseas, SEVERAL agents swore they could rent out my house in an instant. I appointed two, two months before my departure. Nothing. No appointments/bookings. Those that I DID get, cancelled.

Finally, I advertised my house on Gumtree and found myself a tenant.

Same thing with my rental property. Keep the the rent low and it'll go overnight was the Estate Agent cry! Two months later, nothing. Advertised it myself on Facebook. Now have a lovely tenant.

Bonus of DIY letting was getting the whole rent with no fees.

Yes, we had that problem with an Estate Agent, we suggested a price, they suggested one higher, we queried it, but they assured us it would sell at the higher price.

Six weeks later with no viewings, they told us that we had overpriced the house and needed to reduce it. We went to another agent and within weeks they sold it for just under the price we had suggested in the first place.

I think nowadays when the housing market is so sluggish, agents will promise the earth just to get you on their books and not a competitors, hoping once you are with them, you will stay, even though you have to reduce the price. I think also some agents try to get buyers in by advertising that the price of a house has just been reduced, to give the impression that it is a real bargain.

Having quite a lot of experience with agents I know this is a tactic many of them use. I now tell them at the outset I want a realistic valuation and if they come back after a few weeks suggesting a lower asking price "will generate interest" that I will give the property to a different agent.

I advise getting valuations from several agents, check how much other properties in the area have sold for and then make an informed decision yourself as to how much you think the property is worth.

Drive or walk around the area and look at any for sale boards, how long have they been up, which agents seem to be selling quickest.

We had a similar experience selling my FiL's house after he died. To be honest, we thought the estate agent's suggested price was rather high but assumed that he knew what he was talking about.

We did get some viewings but the offers were much lower than he'd indicated we'd get. It was sold in the end for quite a bit less than he'd said.

Fortunately it didn't matter too much as anything we got for it was a bonus. Not helpful, though, when selling your own home and wanting a decent amount to buy another.

That's crazy. You can't reduce it that soon after marketing it, you need to wait until at least a couple if potential buyers have seen it and made an informed decision.
I also would change agents and find someone who puts it on at the price he would expect someone to pay.
We had half a dozen viewers on an open day, and 2 offers at the full asking price. The agent priced it just right and was confident it would sell. He was also worth his weight in gold later on keeping everyone in the chain calm, so if yours is a bit inefficient now he is likely to mess you about further down the line.

Why don't you remove it from market now for a month and get three different estate agents in to value your home. That will give you a better idea of its true value. Another thing you can do is look on soldhouseprices for homes sold in your postcode. You may find some almost the same as your home have sold recently. Remember to advertise for about £5k more than you want to get for home as most home buyers expect to knock you down on price so they can think they have got a bargain.

I'd be checking out other EAs in the area. This one sounds very inefficient, to say the least.