Selling vacation property on your own poses certain challenges that other residential properties don't encounter. Probably the most challenging issue is that most property owners don't live near the vacation property location. However, there are several ways to show your property to potential buyers without physically being there. Below are a few ways to make your FSBO (For Sale By Owner) experience easier and more profitable:
Let potential buyers actually stay in your property: This is one of the best ways for a potential buyer to truly experience your property. By allowing them to stay a couple of nights, they get to actually experience first hand the sunsets from your balcony, the peaceful walks along the beach, and the relaxation of the hot tub. And to discourage those people only looking for a free weekend, charge any potential buyers a nightly fee and offer to refund those fees if they end up buying the property.
Work out a deal with the property manager: Often times a deal can be struck with the property manager to show your property. If you own multiple vacation properties, offer them a free weekend in return for their help. Or simply offer to pay them each time they show your property. The cost will be minimal compared to commission fees paid to a real estate agent.
Befriend your neighbor: Maybe the easiest way to show your vacation property is to give a spare set of keys to a trustworthy neighbor that lives on the property year round. When a potential buyer wants to come and see your property, coordinate with your neighbor to see what time works best for them to show your property. After all, your neighbor might be the best salesperson for the job, given that they live there year round and have first hand knowledge and experience of the property and the surrounding area.
Hold an open house: Another simple way to show your vacation property is to plan a weekend trip and hold an open house. A couple of weeks before your scheduled visit, get a copy of the owners directory and send a flyer to all of the other property owners in your complex letting them know about the open house. Often times other owners have friends and / or family that are interested in buying a unit in the same building. While this method requires you to physically travel to your property, it still provides a rather cheap way of potentially selling it and gives you one last chance to enjoy it before it sells!
Branden Lewis is a founding partner of Condo Hotel Marketplace, an online portal dedicated to the advertising and marketing of vacation properties for sale or for rent. To learn more about selling or renting a condo hotel, please visit http://www.condohotelmarketplace.com
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