When selling a home, it is important that both the seller and the real estate agent are on the same page. This is even more important for the seller and real estate agent when selling a waterfront property since it can be more tricky than a home in the suburbs.
Any real estate agent that says they are similar doesn’t have the correct knowledge or experience. The same can be said for townhomes, luxury homes, and condos. Each has its own market and must be sold differently.
Once you’ve decided to sell a waterfront property, what should you look out for during the process? Here are some helpful tips that should lead to a successful sale.
Selling a Waterfront Property? Correctly Price It At The Start
The largest factor at play in if a home sells or not is the price. The price that your home enters the market at will do a majority of the marketing. Pricing your home correctly will help it sell faster. Sellers and real estate agents will often try to high-ball the market and this will result in the house sitting and not selling.
Pricing a waterfront property correctly takes experience. There are several methods that a good real estate agent will use to determine a home’s value. One of the most common methods used by real estate agents is by completing a comparative market analysis (CMA). A few of the factors a real estate agent will look at when valuing a waterfront property include:
– Location – While the location is important for any home, the location of a waterfront property is even more important.
– Waterfront Size – The body of water a home is located on is also important. There is no way to determine the price based on waterfront size, but it can impact the value of your home both positively and negatively.
– Frontage – In general, the more the frontage, the higher the price will be.
– Amenities – The amenities that come with your waterfront home will play a big role in the price of your home. Things like private decks and beaches are important things to tell your real estate agent.
Hire a Reliable Real Estate Agent
When selling a waterfront property, it’s critical that you do your research and hire a real estate agent that is trusted and knowledgeable about waterfront properties. Selling a waterfront property can not be done with just luck. Some real estate agents will place their sign in the yard of a home on sale and hope that it sells. These are known as “Post and Pray Realtors”.
Here are some things that your real estate agent should do when selling a waterfront property:
– Understand the Competition – When dealing with waterfront properties, a real estate agent must know the competition in the area. Knowing the competition will help you sell your home faster.
– Sell the “Waterfront Lifestyle” – Selling a waterfront property is more than just selling the house, a real estate agent needs to be able to sell the waterfront lifestyle that comes with it. A good real estate agent will be able to sell them the idea of living in a waterfront home and what they can do with the new area.
– Sell With Good Photos and Videos – As the saying goes, “a picture is worth 1000 words” is extremely relevant when it comes to selling a waterfront property. High-quality photos and videos are a must and are much more important than photos taken of a home in the suburbs.
Prepare the Waterfront Home For Sale
Before putting your home on the market, make sure that your home is properly prepared. Those looking to buy a waterfront home will be looking for certain things.
– Waterfront View – One of the biggest reasons people love moving to the waterfront is so they can have an amazing view. You don’t want a potential buyer to see the view obstructed by shrubs and bushes. Make sure all windows are clean to increase visibility outside of the home.
– Dock Accessibility – Those looking to buy a waterfront property are more than likely going to want a dock to store their vessel. Make sure that your dock (if you have one) is easily accessible and doesn’t need any repairs or touch-ups.
– Curb Appeal – When selling any home, curb appeal is extremely important as it’s the first impression a buyer gets of the home. It’s also important that the home looks good from the water as well since this is one of the main reasons why people buy waterfront homes.
Selling a Waterfront Property Made Easy
Selling a waterfront property doesn’t have to be brain surgery. With the right research, preparation, and execution, selling your waterfront home can be relatively stress-free and successful. If you still need help selling your waterfront home, The Wilson Team is here to help. We’ve been helping South Florida residents move in and out of their waterfront homes for years and we’re ready to do the same for you. Cruise over to our contact page to get your selling process started.