How to Sell Your Lake Property in Three Steps
Since this is a real estate website I am working under the assumption you would be working with a real estate agent. You should find an agent who excels in the categories below to maximize your chances of selling quickly and at a price you are happy with. If you are listing your own home for sale, these are the areas you should concentrate on.
Price the Property Properly
The market for lake property in Northern Wisconsin is unique in many ways. First, most of the lake homes are vacation homes. This slants the type of home in a more custom direction. There are far more variety in floor plans, building materials, and build quality in vacation homes than in the more standardized housing market you find in cities. The second major factor that makes this market unique is the wide variety of lakes. There are about 400 lakes in Oneida and Vilas counties and they all offer different pros and cons. Within the lake niche you have a sub-niche that revolves around the view, the frontage, and the neighbors. So even if you have the exact same house on the exact same lake, but it is located on two different parts of the lake, you can see a big difference in value.
The uniqueness of the market makes pricing lake property more involved than just whipping together a comparative market analysis of nearby properties and giving you a price. An agent has to compare properties from all over and then put their experience to work to filter the results to give you a good ballpark number. When you get to the ballpark number a big part of finding the "right" price is finding the price that works for you. Since your home is probably a second home your personal situation has a lot to do with the right price. Do you want to sell to unload a stone from the boat and free up some cash? Do you want to sell to buy another bigger (or smaller) place? Do you have to sell? The answers to questions like this will determine what the best price point for the home will be.
I have many years of experience both buying and selling my own lake properties and I cover a far wider area than most agents. I also build new lake homes. This combination gives me a unique depth of knowledge when it comes to helping you find the right price for your property.
Get the Right Exposure
In today's world, people looking for a new lake home or lot start their search on the internet. While all properties listed on the MLS end up on various real estate sites, getting good exposure on the best sites is something that takes effort, and in most cases, it takes ownership of the best sites. A high quality agent website will give the highest odds of your lake property standing out to the right person. Other forms of advertising like newspaper, magazine, billboard, and radio ads do more to build the brand of the agent than to promote your property.
As you hopefully have been able to tell while browsing this site, I take my web presence very serious. I personally review every listing that goes up on the site and when I give my opinion it is based on the current market status. My high ranking on the search engines, and long retention time per customer gives you the best internet exposure possible. I also do some direct marketing, but for the most part my sales are the result of this website.
Present the Property Professionally
Once your house is priced properly and has the right exposure, the final key to selling your lake property is presenting it in the best light possible. At the most basic level this means writing an effective description and taking great pictures. I am not a wordsmith by any means, but I shudder when I see some of the property descriptions. A description should present the facts about your property in a way that makes people want to see it in person. It should also be spelled properly and be grammatically correct. The small things do make a difference. Pictures should be as accurate as possible, not washed out or over enhanced like a comic book. An image with high dynamic range with proper exposure, white balance and contrast goes a long way in getting perspective buyers to see your house in person.
A good description and great pictures will get you most of the way towards your goal of professional presentation. Extras such as video tours are a great enhancement to a listing. With 360 degree video now becoming mainstream, I believe 360 video will be the next big enhancement to listings.
My in-house picture and video guy has been producing high quality content for nearly 20 years and stays up to date on the latest innovations in the industry. From drone footage to video tours to outstanding pictures, I have the tools to present your lake property in the most professional way possible.
If you are interested in having me sell your lake property and would like a free market analysis done for your house, just give me a call/send me a text (715) 891-2222 or contact me through the Contact Form. We can set up a time to meet and I will let you know what you can realistically expect to get for your lake house or lot.