One way to deal with a listing that will not sell is to withdraw the listing from MLS and let another agent who wants to work for free signage take over. But that's not the best approach to dealing with an overpriced listing. Some agents will say the best way to deal with an overpriced listing is not to take the listing in the first place, but if a seller is really insistent on a price or if the agent thinks there is a possibility a buyer might pay that desired price, why should the agent get in the way of making a sale? That's generally my approach. Because we Sacramento real estate agents are not wizards by trade, regardless of what some people believe. Sometimes, we don't know exactly what a buyer will do until we dangle a product in front of her chubby little face.
Not every listing starts out to be overpriced. Some listings can be priced in line with the market and then due to market shifts or seasonal changes, the price ends up too high. We have a duty as real estate agents to tell our sellers when this happens. Read more in my personal blog today about Lowering the Price of That Sacramento Home Listing.