I've used a termination in a situation where a life change eliminated the need/ability to sell.
Have your friend talk to their agent. With only one month to go in the listing period, either letting the clock wind down or a withdrawl will likely do the trick. And then we can all hope that prices rebound as he hopes they will.
Good luck to your friend.
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Yes, a listing can be terminated. All the answers below are full of good information.With 1 month left on the listing, your friend may want to have it Withdrawn Temporarily from the MLS, then when it expires it will no longer be listed. This will avoid any showings in the period of time left in the listing. The listing agent can handle this.
When you re list I recommend that that you ask questions about withdrawals. If something comes up that hinders you ability to show the property, or if your plans change, or if your agent isn't doing their job you want to know what your options are. These options can change from agency to agency.
But...I have to ask
You only have 1 month left on a 6 month listing why not let it runs it term who knows maybe you'll get lucky and in the last month of that listing you'll get an offer you can't refuse. unless............(I'll leave that thought right there)
I see two avenues for your friend
1) marketing a listing is a big investment. It seems to me that five months and no sale signals more issues that just "I am waiting for the market to improve). In most cases listings that sell in the first 30 days sell at closest to list price. So at five months, something is amiss.
2) If the problem really was that your friend is unhappy with the REaltor (as if WE control the market) then I think a meeting with the Realtor is in order (actually both cases).
Unless there is a serious issue with performance, a nice thing to do would be to provide the Realtor with three referrals of people that need help. Also, a frank discussion about your friend's goals and needs.
Most people have no idea what goes into selling a listing. The fact is that ANY property will sell at the right price. A good REaltor can max out your net, however unrealistic expectations are not going to help.
To put it another way, we are not paid until escrow closes. What would YOU think is fair. Spending a few thousand dollars on marketing listing, and time , and effort, must have value.