Pricing a home is a negotiation with the market before it is a negotiation with a buyer. Price it right from the first day it lists, and you keep control of timing and terms. Price it wrong, and the market takes that control from you, usually through a series of price cuts that signal weakness to buyers.
The process itself is procedural: preparation, pricing, listing, showings, offer review, option period, and closing. Where sellers lose ground is usually in the decisions between those steps, not the steps themselves.