The strategy I use for my clients when they ask me this question is pricing the home just under market value; typically 2% - 5% under, depending on the market.
Then I do my consultation to get the home selling ready. This means we do a walkthrough of the property and at the end they get my checklist of what they must do to get the home in tip top shape. Things on this list include painting, repairing minor things, de-cluttering, de-personalization, etc.
Next, I do my brokers open house to get the agents in the house to see it and start thinking of who they are going to bring to the home. I make sure I have an EXCELLENT food offering.
Then, I launch my extensive internet & direct mail ad campaign (Zillow Trulia, Realtor.com, Homes.com, Craigslist, personal websites, reciprocal websites, direct mail postcards, open house invitations, etc.). During this time there is a delay in showings on the property for a week. That following Thursday, I launch the showings on the property. I let all the showings happen on the weekend and then have a best and final offer presentation due by Monday. I just did this on a property last month, 13 offers in 72 hours and almost $30,000 over asking. Does it work every time, no, but at this point in my career, every time I have done it, I have had success.
Just remember the good old saying; people want what they can not have. Just like people getting into an event, club, or restaurant. Status is everything and I have found a way to roll that into my business by creating the listing that EVERYONE wants.... more