If you’re looking to sell your waterfront property, there are many different factors to consider in order to get a good price and to sell quickly.
Pricing Your Home
One of the most critical factors in how quickly a property sells is pricing. You want to price your property right from the beginning. It is important to look at the comparable properties in the area, which you or an agent can do. Pricing to sell doesn’t necessarily mean you have to lowball your asking price and sell for much less than what the property is worth, but you want to make sure that you aren’t asking a whole lot more for something that a potential buyer can get for less. A worthy investment before putting your house on the market is to get a professional appraisal, which can run you anywhere from around $300 to $600. Another option is BPO or Broker Price Opinion. The BPO is an opinion of value done by a real estate broker. Valente Real Estate will be happy to provide this service to you free of charge! This part of the process is very important. Overpricing your property when it is first placed on the market can have long term detrimental effects on selling your home for what it is worth. Another option is to use an Automated Valuation Model (AVM for short) to get an estimate of value. This process uses a computer algorithm, looking at active and recently sold properties, to price your property. The most common of these is Zillow’s Zestimate. Although very popular, the Zestimate is less active than local brokers AVM’s because local real estate brokers have direct access to the MLS (Multiple Listing Service). It is a misnomer that Zillow has all of the listings from all real estate brokers. To get your homes automated valuation, click here.
Marketing Your Home
It is important to market your house well. Most buyers, when looking for homes for sale, start their searches online, so it’s important to have your waterfront property listed on many different real estate websites. What is extremely important, however, is that your listing be worded well and have lots of good pictures. Make sure to include the specific amenities (waterfront views, docks, piers, boat storage, clubhouses), as well as the house’s amenities (fireplace, pool, tall ceilings, etc.). Pictures speak volumes (thousand words, and all), and having quality, well-lit pictures of rooms and the property can determine whether the potential buyers even schedule a viewing. Good real estate agents have a lot of experience in getting this done on your behalf. Its important to remember…you’re not just selling the property—you’re selling the waterfront lifestyle.
This is a biggie no matter what type of property you’re selling! Home buyers go on their first impressions—they want to be impressed with the home, they want to be ‘invited.’ But with a waterfront property, you have more to look at. You have to make sure that the docks, pools, beach areas, banks, etc. are all clean and well-kept. If you have a dock or storage area, make sure it’s updated and not falling apart. You can scare away buyers fast when they see docks that are old or banks/beaches that aren’t kept-up. You want to make sure that the house has a clear, clean view of the water (if possible), and make sure that the yard is well taken care of. Don’t’ forget to clean your home’s windows so they get an even better view! Buyers want waterfront property (and pay more for homes with waterfront property) because of the water—so make sure that it looks like something people will want to buy!
Staging Your Home
Remember, you’re selling the waterfront lifestyle! Staging your home to sell is a very important aspect of the real estate marketing of any property. While it’s important to stage the inside of the home to make it inviting, make potential buyers envision themselves living there, it’s also very important to stage the outdoor areas as well. If you have a dock and a boat, keep them clean. Add some beach chairs by the water, put an outdoor table and a grill overlooking the water. Add a hammock or rope swing over the water. If you have storage, show buyers that it can be used for a boat, boat equipment, jet skis, water tubes, fishing gear, kayaks/canoes, or any extracurricular that homeowners in the area like to participate in. Don’t forget the inside of the home, too. If you’re on a beach, a light, beachy themed décor plays that up nicely. Or if it’s a lakefront cabin, go for a more rustic feel, with earthy colors. Search home décor magazines and the internet (or even your real estate agent, if you got a good one!) for inspiration. Subtlety is key though; don’t go overboard with a theme.
A Quality Agent
This is key in selling a home, and especially waterfront property. You may opt to sell yourself, but remember how much help a good, professional real estate agent can be. First, you want to hire an agent who has experience selling waterfront property in your area or community. You want someone who knows how to market a home, and understands the competition well and what can make your waterfront property stand out from others in the area. They can recommend pricing, curb appeal changes, and staging ideas as well as make sure that the proper disclosures completed. They usually even know professionals in the area to get you the best professional pictures for online posting. Good real estate agents also know where to post different properties, and what types of buyers are interested in waterfront properties. Waterfront properties come with lots of specific things that an agent needs to understand, in order to sell quickly to buyers and eliminate last minute issues—things like flood insurance, area septic system regulations, building regulations for docks and piers, water use rights, and more.
All in all, if you follow these guidelines and tips, selling your waterfront property can be a quick, easy, and painless experience. Remember to think like a buyer and sell that waterfront lifestyle!
If you would like to get more information on getting your home sold quickly and for the highest market value, just CLICK HERE.