An over priced listing will not sell. Over priced means that the price is above what a willing buyer will pay for the property. But.....If you have the listing in your arsenal, you will get leads which will help you sell other homes and maybe even get the price reduction on the listing so that it will become sellable.
I fight hard with the sellers not to price the listing higher than my CMA range suggests. I explain that if they want to buy a hammer and all hammers are priced around $10.00,would they buy a similar hammer for $100.? They always say no. I then explain that their home is a $100.00 hammer!