Tips to Successfully Sell Your Waterfront Property
Whether your home is perched along the shores of the Pacific or on a sleepy little lake, you’ve certainly got some great curb appeal. This will certainly work well for you when it comes time to sell – after all, it’s tough to beat that type of setting.
Simply adding the term “waterfront” to your listing description will generate plenty of attention, not just because of the physical setting itself but also the type of lifestyle that waterfront living comes with.
That said, you’ll definitely be faced with plenty of competition from other waterfront properties currently on the market. As such, you want to make sure that you put your best foot forward and position your home competitively when you list it for sale on the market.
Here are some tips for successfully selling your waterfront home.
Price it Right
Like any other type of real estate, establishing the right listing price is critical to a successful sale. While a waterfront property will typically command more money than a home on a traditional lot, pricing too high can harm your listing. If you price too high, your home will likely sit on the market for longer than necessary and eventually become ‘stale’ and develop a negative stigma that will tough to shed.
It’s not uncommon for sellers of waterfront properties to believe that their homes are worth a lot more than they really are simply because of where they’re sitting. But buyers who are looking for homes like these are coming into the game well prepared and armed with the right information about the current market value of these types of homes.
If your home is priced within the appropriate range, you’ll be more likely to grab the attention of these buyers and wind up with a successful sale.
Target Your Market Appropriately
Like any other type of real estate, it’s vital that you market to the right pool of buyers. Marketing a waterfront home is a lot different than advertising a typical home that’s nowhere near a body of water.
People who are actively searching for waterfront properties are the ones you should be focusing on. These buyers have a pretty good idea what they are looking for, whether it’s direct beach access or a place to dock their boat.
Your marketing efforts should be focused on attracting the buyers that would likely be looking for a waterfront property like yours. As such, the use of appropriate descriptive terms and photos in your listing that will help grab their attention. You can further attract the right set of buyers by staging it appropriately, which brings us to our next point.
Stage the Home to Showcase its Prestigious Location on the Water
Real estate agents who have sold many waterfront homes will typically recommend that their seller clients properly stage their homes to really showcase what their properties have to offer.
Staging a home is all about selling a specific lifestyle. It’s about helping buyers develop an emotional connection to a home and visualizing themselves living there. Once you know exactly who your target buyer is, you can stage your home and its exterior in such a way that it will cater to their needs and desires.
A lot goes into staging a waterfront property. Your deck should be repaired if necessary and outfitted with furniture pieces that make it an inviting place to lounge while enjoying the view. If you have a boat dock, make sure it’s in tip-top shape before showing. Get rid of any unsightly weeds or garbage that may have accumulated on the water or the area directly fronting the water.
Done right, staging your waterfront home can help you sell faster and for more money. For these reasons alone, staging your waterfront property is well worth the investment.
Clean the Windows
Not only should the water be easily viewed from your deck, it should also be enjoyed from inside the home as well. As such, make sure that the windows have been thoroughly washed and polished for a streak-free finish so prospective buyers can catch a glimpse of the glorious setting at their doorstep.
In addition, make sure nothing is blocking the view through your windows. Move all your plants to the side, ensure that no oversized furniture stands in the way, and keep window treatments to a minimum.
People are essentially buying the view when considering purchasing a waterfront property. As such, anything you can do to maximize the view should be considered. Many waterfront home sellers overlook this obligation, yet it’s such a simple way to make your property stand out from the competition.
Make Sure the Shoreline is Easily Accessible
One of the draws of a waterfront property is its direct access to the water it sits in front of. If your home has direct access to the water, make sure it’s easy to get to. If the path to the water from your home is currently blocked or hard to navigate through, take the steps needed to clear the way.
Work With a Real Estate Who’s Experienced in Selling Waterfront Properties
As mentioned earlier, waterfront properties are unique and require a more customized approach to selling. As such, it’s important that you work with a real estate agent who has some experience selling these types of properties. They will be better equipped to come up with a relevant sales and marketing strategy to find the right pool of buyers who will be more likely to be looking for a home like yours, and be willing to pay the price premium to own a home on the water.
In addition, an experienced realtor will be able to come up with a competitive listing price for your waterfront home. Considering the uniqueness of such a property, it’s harder to find comparable sales to help gauge an appropriate listing price. For the average real estate agent who has never stepped foot in the waterfront real estate realm, this can be a real challenge. For an agent who’s had a hand in this game, however, establishing the right price is a lot easier.
The Bottom Line
If you’ve teamed up with an agent who’s got some experience selling waterfront properties, be sure to heed their advice on prepping and marketing your home. With the right amount of preparation, there’s no reason why your waterfront home shouldn’t attract the right buyer who is willing to offer you what your home’s market value demands in a relatively short amount of time.
