It is very easy. You would get as many local realtors to come do complimentary market analysis, and challenge them to sell your "low price" competitors. You would use whosever service if s/he can sell your low price competitor.
If some realtor could sell your competitor, of course, you can believe what the one says, otherwise, you need to continue the complimentary market analysis.
When you continue calling local realtors, you bring attention to many realtors about the community. Believe or not, many realtors may have buyers, but just "not familiar with your neighborhood". So, say, if you bring in dozen market analysis, you "introduce your community to dozen more sales force".
I have found that after I invite close to 50 realtors to do market analysis on my community, the neighbors start selling, and of course, your low price competitors will be sold and many others will be sold too, and the market price will be coming back.
For example, this Edison Hollow South condo community is now SOLD OUT!! http://raspberryct.blogspot.com/ Why? There are only total 220 units, and I have invited over 500 realtors from the county to the community (there are total about 5,000 realtors in the county).
If you would like a free advise, please feel free to call me any time at 925-216-9380. I have lived in Pleasanton for 17 years and list and sold homes in Pleasanton for over 10 years.
When selling in a buyer's market (where there are more homes to sell than buyers to buy), strategy is everything.
As a rule of thumb, about 90% of the time the buyer that purchases your home sees that home with a Realtor, so the key to getting a home sold takes convincing three people that it is worth the asking price:
1. The buyer's agent
2. The buyer
3. the lender
Note that homes that sell in the first 30 days sell for closest to asking price, the gap widens the longer they listings sit on the market, so as a poster stated, accurate pricing is key.
Buyers want value. The key to maximizing your sale price is helping the buyers see the value of your home.
Some examples would be: no photo versus multiple professional photos with a virtual tour.
Offering a buy down program so your homes is instantly more affordable based on monthly mortgage payments. Based on the statistic that people move every 5-7 years on average, a 1-3 years buydown program, properly marketed, would likely allow a home to sell for a "higher price" that without the buydown program. Ask a Realtor for a detailed explanation.
Lastly I see dangers in overexposure. Our research shows that the highest amount of market activity occurs in the first 14-21 days on the market. So all of our marketing hits simultaneously. If we don't have ten showings or two offers in 10-14 days, we need to adjust.
After that point, holding the house open on weekends and advertising it probably does not make sense. It's like telegraphing to the world. "This property is over-priced. Please give me an offer".
So when I take a listing, we pre-agree on what will happen if we don't see sufficient showing activity.
One way to get showing activity is to low ball the price. That can work for and against you. Offering an above market commission might be a better tool to attract the Realtors who have the buyers, than to low ball the price in hopes of getting a bidding war started. Hope this is helpful.