Selling waterfront property means facing plenty of competition. When buyers hear about beach property for sale, they are eager to see it. People covet the lifestyle that comes with owning a waterfront house, and often these properties are also luxury homes. The buyers are discerning, and these properties are in high demand. Learn how to guide waterfront buyers to a dream home that exceeds their expectations.
All Waterfront Buyers Are Not Equal
With lifestyles in mind, there are many different types of waterfront buyers. Deep sea fishing enthusiasts want access to the ocean. Boaters are looking for a house with dock space. Beach bums wish to be close to the sand and sea. Rowing enthusiasts often prefer homes by a river or lake. And there are buyers who crave a scenic view. The first step is to get to know the buyers and why they desire waterfront property to narrow down the prospects. Find out if the buyer wants a vacation home or a year-round residence. Discuss the budget and get a wish list to find viable options.
Waterfront Properties Have Personality
From lakeside mansions to beach cottages, waterfront homes have their unique personalities. Visit the house before showing it to determine what it offers to buyers. Know the selling points, including the size of the waterfront, a private beach or boathouse, and community amenities such as a clubhouse. Keep waterfront communities on the list of possibilities for waterfront buyers. Often buyers discover the cost of owning a waterfront home, including maintenance and flood insurance, which could kill a deal. Be prepared to show them properties within walking distance to waterfront activities, beach rights, and community dock space. Some of these properties even have winter water views, making them ideal options for budget buyers who want a waterfront lifestyle.
Do a Quick Assessment
While you view waterfront properties, make sure they are ready for buyers to consider. Look for common issues with waterfront properties, such as clouded windows or litter along the shoreline. If the dock or waterfront area is overgrown, see if the seller can remove some of the brush. Determine the quality of the water and whether it looks murky, in case buyers prefer a home where they can swim. Recommend staging the home to give it a waterfront vibe. Include beach accents and water-inspired hues such as beige, turquoise, and white. Read Coastal Living magazine inspiring coastal makeovers to pique your creativity.
Offer Essential Resources
Purchasing waterfront properties involve more attention to details that many other home sales. For example, a potential buyer may need a detailed home inspection, pest control, flood insurance, engineering or architectural advice, and legal guidance. Network with community professionals who specialize in waterfront properties. Create a referral list to offer buyers when they are ready to make an offer. Having these resources at their fingertips makes the process easier and can also help you to close the deal smoothly. Try to avoid unpleasant surprises that deter buyers and could tarnish your reputation as a realtor.
Be Ready for Out-of-Town Buyers
If you list or co-list waterfront property, be ready for out-of-town buyers. Exceptional photography and video tours attract more interest, including out-of-town buyers. While they might not be able to visit the properties immediately, video tours give them an opportunity to view the rooms and surrounding property. Consider creating 3-D virtual tours, a strategy used successfully in popular waterfront areas such as Miami and the Hamptons. Hire a professional or invest in a 360-degree camera to make virtual tours that put buyers on-the-scene and the water. The compelling nature of virtual tours inspires emotion and could even compel a buyer to make an offer before seeing the property in-person.
Invite Buyers to a Community and Lifestyle
Marketing a waterfront home means selling more than a structure. Buyers want a vibrant waterfront community with an inviting lifestyle. Familiarize yourself with the area. Share hot spots with potential buyers to help them visualize living in the neighborhood. Better Homes and Gardens® Real Estate understands buyers are purchasing a home to fit their lifestyle. We offer marketing materials specific to this market segment to help REALTORS® grow oceanfront, lakefront, and riverfront business. The Better Homes and Gardens® Real Estate Waterfront Collection uses the serene look and feel of water to provide a wide array of beautifully-designed resources for your listing and marketing needs.
When it comes to marketing beach property for sale, it is crucial to know every aspect of the house and its location as well as become intimately familiar with the buyers. Soak up every subtle nuance of the lifestyle so you can enthusiastically share them with your clients. Selling waterfront homes is much like matchmaking, and the rewards can be even more satisfying – and profitable.