Less is (Sometimes) More
A bidding war is every seller's dream. The best way to get into one is by underpricing your home. If you live in an extremely hot market, chopping 10 percent off the fair price could help your house eventually fetch 10 percent above the same price.
But what if your low price fails to attract the bidders you want? What if only one buyer shows and snaps up your underpriced house at list?
It's all about traffic. If you choose to underprice, make sure the world knows it. This is an all-in strategy requiring massive upfront marketing. If you're using an agent, make sure the agent is willing to coordinate advertisements and other listing publicity so that when your house hits the pond, it makes a splash big enough to attract many fish.