Do you want to ensure the best deal on oceanfront homes? If so, then you have come to the right place.
Getting the best deal for a house can be challenging, especially when it is near the coast. It will be harder when you are new to the real estate industry. Without prior experience and knowledge, you can only dream of getting the best deals on oceanfront properties.
To make this daunting task easier, we will demonstrate the 8 best tricks used by the top real estate marketers. Learning these hacks will get you one step closer to cracking the best deals on oceanfront homes.
8 Hacks Used By Experts To Get The Best Deals From Oceanfront Homes
Learning the best strategies of top-tier realtors is not easy. It takes a lot of time and hands-on experience. However, we have simplified the task for you. After talking to the best real estate agents and reviewing their careers, we bring you the following 8 best hacks.
Hack 1: Thoroughly Research The Market
We know research is important before investing in any type of property. You have to think about the nitty-gritty before finally making an investment.
But what about oceanfront properties? How much homework should you do before making an investment?
To know the answers, we have talked with Mitchell G. David, who represents Bethany Beach Homes. From his 20 years of experience in the regional marketplace, he gave us valuable insights. What’s more, he was raised in coastal areas like Ocean Pines, Ocean City, Berlin, and Millsboro. He said,
“It is very important to research the local housing market. My exceptional skills in conducting research have led me to where I am today.”
As a result, knowing the market inside and out is crucial. Always study recent sales and analyze market trends. Plus, be aware of any upcoming developments that might impact property values.
Hack 2: Spread Out Through Networking And Making Connections
Networking and building connections are important in every sector. This is also applicable in the real estate industry. We talked with Sarah B. Johnson, a broker with more than 20 years of industry experience. She said,
“Networking is the key to unlocking off-market opportunities.”
Just like Sarah, experts always suggest attending industry events, joining real estate investment groups, and participating in online forums. Doing all these can build relationships with local real estate agents and brokers. Ultimately, this can expand your network. These connections can lead you to hidden gems in the oceanfront market.
Hack 3: Monitor Listings and Act Quickly
Many of you may have heard about Michael Thompson. He is a real estate agent with more than 30 years of experience in the housing market in Oakland Hills, California. When we asked him about monitoring home listings, he said,
“You can gain the advantage you need by being proactive and taking quick action.”
If you want to secure the best deals, then there is no better alternative than to monitor new listings. At the same time, you should act swiftly since oceanfront homes often attract high demand. You should follow local real estate websites and social media groups. If possible, set up automated alerts for new listings. And yes, you should be ready to schedule viewings and make offers as soon as possible.
Hack 4: Be Competitive While Making Offers
Regardless of the location, the real estate market is competitive. So, you should be competitive as well. Without crafting competitive offers, you can’t increase your chances of acquiring an oceanfront home.
Despite being a high school teacher for 14 years, Lisa Martinez is still one of the best realtors in San Antonio. But what are her secrets to becoming a successful realtor? We believe it is her ability to make competitive offers. In her speech,
“Making a strong offer increases your chance of getting the best deal and demonstrates your seriousness.”
You should research comparable sales in the area and understand the seller’s motivations. Finally, present an attractive offer that stands out among the competition. You can work closely with your real estate agent to determine a competitive offer price.
Hack 5: Show Your Skills During Negotiation
Making a competitive offer might not be enough to secure the best deal on an oceanfront property. You should develop the skill to negotiate effectively. To increase your negotiation skills, you should try to understand the seller’s needs while maintaining flexibility. Robert Davis is a fully licensed real estate agent for residential homes. His experience spans more than 21 years. He told us this regarding effective negotiation,
“Successful negotiation is a delicate balance. Understand the seller’s motivations and tailor your approach accordingly.”
To understand the seller’s motivation, you should listen actively and be respectful. In addition, demonstrating your seriousness as a buyer can help in negotiations. Our suggestion is to approach negotiations with a win-win mindset. In order to do that, work closely with your real estate agent to negotiate terms that benefit both parties.
Hack 6: Get Pre-Approved For Financing
To prove yourself as a serious buyer to the seller, you should be pre-approved for financing. First and foremost, make sure you have all the necessary documents. Then, consult with a mortgage lender to get pre-approved for a loan. Your final task would be to present a pre-approval letter along with your offer. This can make you a strong contender for oceanfront properties.
We are saying these things after consulting with the real estate agent, Jennifer Lee. With more than 8 years of experience, she got her broker’s license in 2015. According to Relator’s data, all 24 homes on his list have been sold. In her words,
“Getting pre-approved gives you a competitive edge and shows sellers that you’re a serious buyer.”
Hack 7: Conduct a Thorough Inspection
David A. Wilson is a “Go To REALTOR” in the real estate industry. He is a member of the Professional Standards Committee and has more than 22 years of expertise. He also served on the GBBR Board of Directors twice.
So, we think there is no one better than him to give advice on home inspections. He told us never to skip the inspection, especially for oceanfront properties. You can identify any potential issues or hidden costs by conducting a thorough inspection. Therefore, it is essential before finalizing a deal on an oceanfront home.
It would be wise to hire a professional home inspector who specializes in oceanfront properties. You should accompany them during the inspection process, review the report carefully, and address any concerns with the seller. This way, you can negotiate repairs if necessary.
Hack 8: Timing Is Important, So As Being Patience
Timing plays a crucial role in real estate. Often, those who remain patient get better opportunities. In this case, we can take inspiration from Laura Adams. She represents Keller Williams Realty and has a little over 4 years of expertise. She always stays patient while making and receiving offers.
That is why she became a top agent in Texas within a short period of time. In her words,
“Trust your instincts and wait for the right moment to make your move.”
You should always remember that timing and patience go hand in hand. Rushing into a purchase without careful consideration can lead to regret. Try to understand market cycles and stay informed about local market conditions. Additionally, be aware of seasonal fluctuations to secure a favorable deal on an oceanfront home.
Congrats! You are now armed with the hacks of top-tier real estate marketers to crack the best deal on oceanfront homes. If you can apply the above hacks properly, securing the best deal in the oceanfront housing market should not be a problem.
Author: Shannon Quantock