5 Keys to Selling Waterfront Property
by Caroline Kirby
Selling waterfront properties is a unique challenge, regardless if it’s on the beach or the shores of a calm lake, there are aspects and needs (like marketing, pricing, zoning, etc.) that you don’t find with traditional real estate. There are some important factors you’ll want to keep in mind before you start the process of selling.
You may think that waterfront properties sell themselves, but it actually requires some effort and imagination. Want a quick and profitable sale? Follow these tips for selling waterfront property.
As the homeowner, you should know that the water is your main selling point—ensure that the view of the water is high-quality. Take care of any obstructions by trimming shrubbery or cleaning windows.
If you have a dock, pier, or path to the water make sure that it is accessible, stable, and adheres to any local safety codes. Create an inviting atmosphere by cleaning up the shoreline, beach, bank, etc. of any debris that may have washed up.
Keys for Selling Waterfront Property
- Know Your Audience: It’s vital that you understand your target, are they looking for a vacation home? A place to put their boat? Direct beach access? Selling waterfront properties differs greatly from a traditional home sale, these buyers will know exactly what they’re looking for and so should you.
- Price Appropriately: With all other real estate ventures naming a fair price is key for a successful sale. Often times owners of waterfront properties know the value of being on the water and believe their property is worth a lot more than it actually is. It’s vital that you take your time in naming your price because your potential buyers will come prepared with relevant information. Find the sweet spot in the price range to get buyers’ attention!
Factors that affect pricing—location, amenities, waterfront size, and frontage.
- Know the Rules: If you have a dock then there are undoubtedly local laws that come with it. Even if you don’t utilize your dock often familiarize yourself with the local dock rules. For example, some docks prohibit the storage of gasoline while others have strict dimension limits or even require permits. You will appear more knowledgeable and trustworthy if you can give buyers this information upfront.
- Update Infrastructure: What’s the point of buying a waterfront property if it’s just going to get torn to pieces after every storm? Or the amenities are falling apart? Buyers are more likely to be interested in a property they know can withstand whatever the water may bring. Installing storm shutters, stainless steel hardware outside, and updating docks are all great ways to improve.
- Market Appropriately: Cleaning up your property, finalizing a price, and identifying your target audience won’t mean a thing if you don’t get your listing out there. Taking the time to craft even a basic marketing approach will do you wonders. Make sure you’re posting effectively, for waterfront properties many niche websites make it easier for buyers to find you. In fact, we have a page just for waterfront listings. Learn more here!
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