Doug Miller wrote:
If it hasn't sold in three months, the asking price is too high.
Too high for the location, too high for the condition,
whatever, doesn't matter.

True in the price range in Vancouver, anyway, where the average time on
market is about 45 days.

OTOH, in some areas of the U.S. the average TTM for high end homes (
$1.5M) can be 350 days.

The seller is under no obligation to respond _at_all_ to any
purchase offer that falls short of his full asking price.

Actually, the seller is under no legal obligation to respond to any
offer, regardless of price or conditions. In the U.S., at least.
Although under some listing contracts s/he might be liable for the
realtor's commission on a full price offer.