Drop the price daily

[Jon Klaus]

I have a few homes for sale and I've noticed a definite slow down since the home buyer tax credits expired. I have a marketing/pricing idea that I think I've read about on BP, but haven't found it.

Start the price at say, $59,000 and then drop the price $200/day until it goes under contract. Run new ads daily on Craigslist and elsewhere, not just advertising the new price, but drawing attention to the daily price drop. I think it would create extra interest and urgency, Has this or a similar method been written about on BP,or elsewhere--links?

[Matt Eilers]

I believe the term for this type of selling strategy is called a Dutch Auction. I have seen one here where I live twice. Catches your attention in the advertisements.
I have also seen a "Will sell this Home in 7 Days Regardless of Price" once as well. Eye catching. Stopped by to take a look and A LOT of people were there. Decent idea as it generates interest (assuming marketed well) but runs the risk of backfiring if no one buys at a price you want to sell at.

Other ones that can be attention grabbers are the incentive sales. Figure out what your type of Buyer would like and have an incentive if sold by a certain date.
(membership to a golf course, workout facitily, trip to Hawaii for 2, flat screen TV...just something catchy that makes people take notice of the ad).
Best of luck.
Matt