I agree with Robert J. Bruss that a listing agreement should be made for 30 to 60 days. I believe that a property listed at its fair market value will sell during that time. However, many agents will take overpriced listings without question just to have their names on the property.
The large inventory of homes on the market today is partially due to the greed of owners wanting more than their neighbor, and agents who are willing to accept this.
If an owner requests that a listing be for more than the maximum reasonable value, don't accept it.
I will take 30 and 60 days listing if I determine the fair market value of the property. Many of my colleagues will take the overpriced listing and work hard to get a reduction later.
ANDRE J. ROBIN