As a seller YOU control the price, not the broker. The broker can show you facts and make recommendations but it's ultimately your call.
RE: Termination policy
You can only terminate your contract after establishing that the listing broker is not fulfilling the servicing terms of the agreement you have with him/her. Furthermore your contract is not with a SINGLE individual but with a REAL ESTATE company, and you must address all your concerns with the head broker of the firm and give them a chance to rectify the situation and possibly assign you a new agent. And if you can establish that no proper marketing and servicing is being done for your listing you can request termination on those grounds.
RE: Price drop
Even though price drops sometimes help drive new traffic to your property it's not the ultimate solution. You must make certain that a price drop is not a compensation for lack of marketing of your property and you must make certain that by the reduction you will enter a new search criteria.
RE: 6% compensation
The amount of compensation is irrelevant in this case, many of my clients often said they would pay more if they knew the result would be quick and satisfactory. In this case if applied appropriately the 6% commission can act as a powerful tool to attract buyer agents to the property which will help move the property faster.
In my experience lack of traffic is always a reflection of bad marketing and servicing nothing more. Lack of offer AFTER a volume of QUALIFIED showings is then a reflection on price. Most people have the right gut instinct that something isn't right, and your instinct must be right as well. So start as high up in that brokerage as possible and go forward from there.
Armen J. Meschian
Associate Broker at Exit Realty Landmark