Quick thoughts for you!
Why are you so convinced that the asking price is right.... May be right, but may be not competitive enough to bring in buyers, may be your home is not updated enough compared to others. Have your Realtor show you
some competing homes in your price range, may be they are bigger, more updated, newer or on a bigger lot
But then may be not, but have a look for yourself I do that for my sellers, and it helps them understand....
Also your Agent I am sure when listing first provided you with some information about time on market averages for your size and price range and age of home.... of course over a period of some months that number changes, so as your Agent again what it looks like now!
Also please remember that a listing agent, can assist you in preparing your home well for sale, like repairs, updates, painting, staging etc. and then advertise and market it, your Realtor can not create buyers or bring them in so to speak.... The way your home shows on the internet, how updated it is in today's market and the right, most competitive pricing, will at one point bring a buyer, but you may have to be patient...
If for example your Realtor finds out that currently a home like yours in your app. price range has an average time on market of 12 months, nobody can tell if your buyer will come in and make an offer during the first month, the last one or even later!!!
As far as your concern about cancel the contract, and selling for sale by owner there are terms and stipulations in your listing agreement, read them.... Why would you think that you can sell your home, i.e. find a buyer and get an offer faster than an area Realtor? I am just wondering what your thinking is?
Take care and good luck to you, I still suggest sit down with your Realtor and discuss the current market and also what you can potentially do to make your home more attractive to buyers.... Always remember your listing agent and YOU are in this together, your Realtor is just as interested in selling your home as you are!
Edith YourRealtor4Life and Chicago Connection
Working always in the very BEST interest of her clients