How to Lure Buyers--Even During Slow Winter Months

Sellers can't afford to be greedy in a buyer's market--and, with a huge inventory of available homes coupled with rock-bottom interest rates, Chicago is definitely a buyer's market.

The most effective move you can make in selling your home quickly is to research what similar homes in your area have sold for recently, and setting your price slightly lower.

Your home stands the best chance of making an impact on buyers and selling for close to your asking price when it first hits the market--real estate agents call this "first-market-impact syndrome," and say that it can't be recaptured once a home has been on the market for over three weeks.

Unless you price your home correctly--that is, below the asking price of comparable local properties--you'll end up cutting your price again and again, as your home grows "stale" on the market.

Another key action you need to take is to properly "stage" your home to attract interest from passersby. This means improving all aspects of your home's appearance--but it doesn’t necessarily mean a huge financial investment on your part. According to Kevin Marko of Chalet Landscape Division in Wilmette, you can add value to your home simply by keeping weeds out of your lawn and plant beds.

"If you spend 5 percent of the value of your home on landscaping, national averages show that you can get up to a 15 percent return on that investment. In the Chicago area the average is much higher--up to 20 percent," said Marko.

If you're marketing your home during the winter, display photos of your home taken in late summer or early fall. Make sure your fireplace is crackling, if you have one. And keep your holiday decorations simple and subtle, as your tastes may differ wildly from those of your potential buyers.

No matter what time of year you're selling your home in, make sure it's clean and clutter-free. Pack up and store at least 50% of "knick-knacks," and make the appearance of your home as generic as possible--you want buyers to see the place as their home, not yours, so store away highly personal decorations like children’s projects and family photos.

Make the kitchen--especially the countertops--look bigger by packing away all but the most essential appliances. Lose the food processor, bread maker, toaster, etc.

Buy new towels and fresh, fragrant bars of bath soap for the bathrooms--and hide everything else (toiletries, hair dryers, scales, and plungers all have to go).

Bedrooms should look sumptuous and sensual. Invest in new bedding, candles, and fresh flowers.

And finally . . . have a friend or relative watch your kids and pets during showings.