Almost 100% percent of my sales are second homes, resort homes, and condos. It’s different from standard single-family sales. Here are my tips to work with those buyers, sellers, and properties.
Your Prospecting Methods Have to Change
Resort and second-home properties buyers are not local … ever. So how do you find them? It’s a huge challenge. Many agents do more traditional marketing and farming. You can’t do that in a resort and second-home market. You have to be very good at marketing properties on social media and the internet because that’s how people find these houses.
No One Has to Buy a Resort or Second Property
You have to get used to the fact that second homes are a discretionary purchase. So be prepared for negotiations to be harder, because it’s easy to walk away.
Get Familiar With the Financial Aspects
Financing for a second home is different than for a regular mortgage. And you should be able to talk about tax laws—not that you’re going to give advice, but you at least need to be able to talk to the client intelligently.
You need to understand all of the issues that properties in your area face. If you’re on the coast, that could be flooding, hurricanes, and salt water damage. Help the buyers understand how to be prepared.
Know the Rules
With a lot of waterfront property, there are issues around who has access and rights to certain things and who actually owns what. And you have to know HOA rules—I can’t stress that enough.
Buyers Care About Different Services
Schools don’t matter to second-home buyers, but restaurants and medical facilities do. Stay on top of the businesses and services available in your area.
Buyers will want contacts for people who can repair and maintain properties. They may need property manager.
Want to Earn the Resort and Second-Home Property Specialist Certification?
Be better equipped to handle the resort and second-home market with the RSPS certification from NAR.
- Complete the “Resort and Second Home Markets (RSPS)” course. Search for an upcoming course here.
- Go to NAR’s website and view the three 1-hour webinars accessible on this page.
- Submit the certification using link on that webpage.