Most people have probably heard of the TV show Shark Tank. However, you might not realize that selling lake property is more similar to that show than you know. When you think about it, the people who go on the show are entrepreneurs. This can almost be said for somebody selling a lake home. You have a product, your home, that you’re trying to get the “sharks”, the buyers, to invest in. Glenn Phillips, CEO of Lake Homes Realty, discusses 5 points about what this might look like.
- “Addressable Market” (Who is Your Customer?): You’re not selling to everyone when it comes to your lake home. You have a specific demographic that is realistically looking at your home. These are the people who are interested in making that investment/purchase of your home.
- How Do You Market (Reach Your Customer)?: Here at LakeHomes.com, there is market reach to people in your area and those who are states away. Agents at Lake Homes Realty can present you with this data and show you that the customers you’re reaching are likely outside of your local area.
- What is Your Value Proposition? What is the reason behind your home being at this price point? Oftentimes, consumers who visit Lake Homes Realty are searching around different lakes so pricing is an important factor to stay competitive.
- What Makes You Different? You need to have something that differentiates you from other sellers. Going back to Shark Tank, all the products are different. You also need to think beyond your personal home values. Most buyers aren’t looking into how you personalized the property.
- Is Different Desirable? You can have eccentric aspects to your property, but this can be a negative to consumers. Not all the things you like always have a positive value.
Overall, selling a lake home can have these similarities with the people who make their way onto Shark Tank. When it comes down to it, making sure you remember these 5 key tips can make or break it. Don’t hesitate to reach out to a lake agent at LakeHomes.com for more help!