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All of these answers are great, but the big thing is how long your house sits on the market. People will think there is something wrong with it or the price is too high. That's the short answer.
No, but it is unfair to you if your realtor doesn't give you a true and acruate price based on current comparables sold within the last 6 months. As a seller if you are not ready to accept an offer very close to that figure than you would be financially better off to wait and list your home at a later date when the market value of your home is closer to the price you are willing to accept.
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For Sale: $367,500
For Sale: $59,000
For Sale: $429,900