Times of change are upon us and there are some things to consider when promoting your vacation property for sale to today’s buyer. Buyers today are really doing their homework, are eager for the best deal out there and want something turnkey with good rental history.
I feel we should consider selling many of the properties here on the Islands as a vacation rental business rather than just any old vacation home.
First, we need to prove that it's a profitable business. Selling your vacation home as vacation rental business could be very attractive to prospective buyers. I always like to have the last year or two's rental revenue history. Many buyers seek vacation homes that they can rent out for part of the year to defray expenses. Buyers may even pay more for a property with proven rental income. If you don’t have the history, I can look to other comparable units and quote projections. The more information, the better in my opinion! At the end of a long day viewing properties I want prospects to have a clear idea of what will be the best property for their needs and providing them with everything under the sun up front will put the most well presented properties in the front of their minds while they mull over the days viewings at dinner.
Second, having the right realtor representing you in the marketing and sale of your property is paramount. Extensive web exposure, extensive web exposure, extensive web exposure…..I cannot stress this enough. This, coupled with hundreds of other things I do keeps my listings in the foreground locally and globally.
As a seller, if you have an established personal website for your investment property and other portals such as VRBO.com you can transfer your listing to the new owner at a minimal cost…Now you are really ahead of the game!!!
Think of the advantage of saying, "Property with a great rental history and complete website is included." Now you're selling an established business rather than just another property. Lets get to it and get it SOLD!