Agents who aren’t experienced in beach real estate often make mistakes. While they may mean well and wish to help you, their mistakes impact you. Glenn Phillips, CEO of Beach Homes Realty, discusses 5 costly mistakes agents make in beach real estate.
- Agreeing to Overprice a Beach Home: Listing agents want you to get the most money that you can. However, pricing above the market causes homes to sit on the market. Eventually, these overpriced homes sell for less than an appropriately priced home. Appropriately priced houses bring in the most money. They generate quick interest and better transactions.
- Missing Phone Calls: Agents missing a phone call end up costing you money. If you can’t get in touch with an agent to list, your house won’t sell. Additionally, an agent missing phone calls in the middle of transactions prolongs the entire process.
- Only Marketing Listed Property Locally: Most beach property buyers come from somewhere outside the local market. Advertising locally only shows your home to people who already have one. Marketing your property to people outside the local market grows your pool of potential buyers.
- Not Thinking Long-Term: Beach homes are discretionary property. That means that people don’t have to buy them. Buyers may look for beach property for years before buying. Expert beach agents understand they need to play the long game for buyers.
- Lacking Beach Expertise: Beach property is completely different from typical property. Agents not familiar with the beach market may be lured by the potential lucrative earnings. However, the beach comes with regulations, nuances, and other differences that require expertise to navigate.
These 5 mistakes agents make at the beach cost you money. Without beach real estate experience, navigating this market will be difficult Be sure to visit beach-homes.com to find expert beach agents to help guide you through the process.