Selling a lake home comes with several questions, but some are better than others. Glenn Phillips, CEO of Lake Homes Realty, discusses 5 questions to avoid when selling a lake home.
“How many views did my listing get online?” The truth is that there’s no right answer to this question. If you get plenty of views, you start to think the websites aren’t good or the buyers aren’t serious. However, if you aren’t getting any, you’re still upset since there’s no traffic. The right amount of views is the one that leads to a transaction. The real reason sellers ask this is to know why they aren’t getting a transaction. Most of the time, if the property is marketed well, the home isn’t properly priced.
“Should we counter-offer?” In negotiation, you always counter-offer. Not giving a counteroffer eliminates any chance of a negotiation. Counter-offers aren’t always about price; they can include extra property or furniture. Work through the negotiation to keep the discussion going until you reach a transaction.
“Can you co-list with my relative?” What this question really means is that you want to hire an agent to do the work and split the check with your relative. If you don’t feel your agent is worth the money, don’t hire them.
“Where is your office?” Office location for lake agents isn’t important. Most lake home buyers come from cities or states away and don’t want to come into town to look at an office. Lake home buyers would rather look at the house than go to an office.
“Does your brokerage have a lot of agents?” This is more of a filler question when interviewing agents. Instead, ask them how they differentiate themselves from the other agents to be successful.
Asking your agent the right questions can make a world of difference when selling lake homes. Visit lakehomes.com to connect with expert lake agents who are ready to guide you to a successful transaction.
Lake home sellers use some common phrases that may end up costing them money. Glenn Phillips, CEO of Lake Homes Realty, discusses 4 things lake home sellers say that could backfire.
“Let’s leave room for negotiations.” No matter what price you set for your house, the buyer will always try to meet you somewhere between your price and their price. Additionally, appropriately priced homes sell quickly and don’t sit on the market. Intentionally overpricing causes frustration and costs you money by having your home sit on the market.
“We can reduce the price later.” Lake Homes Realty data suggests that overpriced homes don’t get offers and sit on the market. Overpriced homes also cause contention with your agent, as you believe they aren’t doing their job well. Once you start reducing your price, you’re training buyers to offer lower than the list price.
“This is the price I need so I can…” Often, sellers price their home with the intention of paying for a trip, debt, or some other expense. However, this has nothing to do with what the market says. Buyers don’t care about what you want to buy with the transaction money. Your home will only sell for what the market says it’s worth, not what you need to pay for something else.
“I really don’t have to sell.” Listing a home costs everyone involved time and money. If you don’t have to sell, then don’t. Playing around with the market costs you and other people a lot of time and money.
These common phrases often cost sellers extra time and money. Selling a lake home is a business transaction, so you should treat it like one. Visit lakehomes.com to connect with expert lake agents ready to guide you through lake real estate.
When you’re trying to find a real estate agent, you want to ensure you’re getting the best representation possible. Glenn Phillips, CEO of Lake Homes Realty, discusses a few things agents believe aren’t really true.
“I work at the largest brokerage in the area.” Agents working for a large local brokerage are working alongside their competitors. Large brokerages make agents feel comfortable by bringing in a large number of agents. Large brokerages don’t make a difference for consumers, as their home gets listed no matter what.
“My listings appear on thousands of websites.” Homes listed by any agent in any market across the country are syndicated to thousands of websites. Unless the property is being hidden and not advertised on the internet, it will appear on thousands of websites.
“I earn stock in my publicly traded brokerage.” This is a common tactic for retention and recruiting agents. However, you can invest in the brokerage yourself if it’s publicly traded.
“The ‘serious’ clients will leave a message.” People don’t want to leave messages anymore. If they get sent to voicemail, they’ll keep calling around until someone picks up. Great agents answer the phone even if it means dealing with spam.
Like anybody else, agents often believe things they do work when they don’t. Watching out for these sayings can help you find the best agent for you. If you’re looking to buy or sell, visit lakehomes.com to connect with expert agents who are ready to help you through the process.
If you haven’t heard it by now, the first impression is the only impression in the world of real estate. And there’s only a tiny window of opportunity to impress potential buyers when selling a lake home.
A savvy seller should be prepared to “WOW” prospects within the first 15 seconds of them arriving at the property. Stick to this checklist of things to do before putting your listing on the market, and you’ll build a solid foundation on which to sell your home.
One of the first things you need to do before listing your lake home is to hire a real estate agent. Be sure to enlist someone with localized expertise, in-depth market knowledge, and an extensive professional network. An agent with trusted, quality connections around town, such as buyers’ agents, professional photographers, home stagers, and home inspectors, can help simplify the home selling process.
While most people associate home inspections with home-buying, there are advantages to getting a home inspected before putting it on the market. Your agent should be able to suggest obvious repairs for you to make around the house. However, a professional home inspector can provide nuanced details of every nook and cranny in your home, including any hidden problems.
After the inspector has inspected your lake home, it’ll provide insight into how much repairs will cost. Lake home maintenance is often more expensive than off-lake homes, so be prepared for a potentially higher price tag. You can rectify every single problem or tackle the big projects and leave minor fixes for the new owners. Either way, it’s best to be proactive about major expenses rather than reactive.
Buyers like to ask a lot of questions, and rightfully so. Ensure all relevant documentation and paperwork are ready to present should any questions arise. Documents include the house deed, appliance warranties, instruction manuals, utility bills, title reports, dock permits, etc.
Your real estate agent will need access to your home nearly 24/7 to show off the property. So unless you plan on sitting at home all day waiting for potential buyers, get the agent some keys or passcodes.
Sadly, you’ll need to take down the baby pictures and remove the trophies on the mantle. While it is still technically your home, it shouldn’t look like it to potential buyers. By neutralizing everything with your personal stamp on it, you allow buyers to envision themselves in the home. Remember to clean out the closets to make them look as spacious as possible. Consider renting a storage unit to keep all the extra clutter in. Or, if you would rather remove old junk yourself, garage sales are a great way to have strangers clear your house out for you.
Now that you’ve removed unnecessary clutter and personal items, clean everything. Patch up any holes in the walls, scrub between the tiles, and focus on the bathrooms and kitchen for a whole day. Don’t forget about tackling forgotten-about spaces like baseboards, banisters, and windows. Your house should sparkle once you’ve used all the bleach you own and fluffed out every pillow. Remember that you’ll have to work to keep it that way.
Staging a home aims to help potential buyers envision the property as their own. The stager will use design and conceptualization techniques to maximize your home’s strengths and downplay the weaknesses.
True-first impressions happen curbside, so be sure to spruce up the front and backyard of your home. Make the front door more attractive by adding new house numbers and painting them to increase visibility. Adding string lights to a personal dock can be a great way to set your lake home apart from all the others. And be sure to remove any kids’ or pets’ toys from the backyard.
Professional MLS photos are still imperative for any real estate listing. According to the NATIONAL ASSOCIATION OF REALTORS®, all home buyers used the Internet to search for a home, with 41% stating that photos were the most valuable content. In addition, 39% found detailed property information as the second-most valuable content on the web, so be sure to provide clear and accurate information about your lake home or property. Virtual, 3-D video tours are gaining traction as a popular tool for home buyers, allowing for an engaging content source that can be shared on websites and social media.
Nothing can ruin a home sale quite like sticker shock. An inflated listing price can quickly put a bad taste in buyers’ mouths, and price drops come with their own consequences. So, when setting the asking price, be sure to consult a lake market expert. And always remember: buyers don’t care what you need for the home; they only care about what the home is actually worth.
As a seller, it’s important to remember that every move you make matters. It’s your job to convince buyers that your property is worth investing in. By checking off every item on this to-do list before putting your listing on the market, you’ll increase your chances of a quick and successful sale.
Heading into 2025, you might consider buying or selling a lake home. Glenn S. Phillips, CEO of Lake Homes Realty, shares 5 helpful reminders about lake real estate in 2025.
Price Includes Location. Many lake home buyers, particularly first-time buyers, don’t realize the impact of the lake location on price. You may not be able to get the same amount of house at the lake as you would in your neighborhood because of the location.
“Sellable” Inventory is Limited. Over the last several months, the number of homes listed for sale has increased, and there’s also a lot of demand. However, since these homes have been sitting on the market, they aren’t appropriately priced. Many sellers are listing at aspirational prices to get a lottery ticket price. This means “sellable,” or appropriately priced, inventory is actually limited.
Prices Are Roughly At Peak. Throughout 2024, price appreciation became fairly limited. Lake home prices aren’t expected to significantly rise or drop.
Discretionary Product. Nobody has to buy a lake home for shelter. Unlike typical residential property, buyers can wait until they find what they want. This is also true for sellers. Lake home sellers generally aren’t in a rush to sell, so they can hold onto the property longer.
Niche Expert Agents Matter. Lake homes come with different contingencies that primary residential properties don’t have. Additionally, discretionary lake home buyers come from cities and states away. Expert lake agents can navigate this market and expose homes to nationwide buyers.
Lake real estate can be a tricky market to navigate and understand. With these tips, you’ll be better prepared to buy or sell your lake home in 2025. Visit lakehomes.com to connect with expert lake agents who are ready to help you navigate this market.
Selling your lake home is a big deal, so you’ll want to do it right. Glenn Phillips, CEO of Lake Homes Realty, discusses 5 mistakes made by lake home sellers.
What Seller Paid for the Property. Similar to stocks, you often can’t sell your lake home for exactly what you bought it for. The buyer doesn’t care about how much you paid for the house years ago.
Price of Listed (i.e. Unsold) Homes. If the listed homes were priced right, they would be sold homes. When these homes sit for a while, it should be a warning about the price. Your neighbors aren’t getting that number, so it’s unlikely you will, too.
Seller’s Blood, Sweat, and Tears. Oftentimes, sellers get caught up in what they’ve done to the property or the memories they have there. However, buyers aren’t interested in those things; they care about the house’s value, according to them. In fact, sellers often intend to remove additions to the home the buyer made, creating negative value.
Outlier Sales. When a home sells for a fantastic price, sellers often want to get that price themselves. However, the price alone doesn’t tell the whole story of that transaction. There could be things like closing costs, additional property, and more that the price included that make the price deceptive.
Taking Offers Personally. Even if the “low” offer is fair, but under the listed price, you can’t get offended by it. A low offer is better than no offers. Low offers open the opportunity for discussion about prices that no offers don’t allow for. Keep the discussion going, and try to land that transaction.
Lake home sellers can often make mistakes when they aren’t familiar with lake property. Using these tips can help guide you to a better transaction. Visit lakehomes.com to connect with expert lake agents ready to guide you through the lake market.
Lake Homes Realty (LakeHomes.com), the nation’s largest lake-focused real estate brokerage, is thrilled to announce its expansion into California and Nevada, a move that brings unparalleled expertise in lake property transactions to two of the West’s most iconic markets in the United States.
This expansion continues to solidify Lake Homes Realty’s presence as the nationwide leader in connecting buyers and sellers of lake properties.
The West is home to some of the most stunning lake destinations in the United States, including Shasta Lake, Big Bear Lake, and Clear Lake in California, and the famous Lake Tahoe stretching into both California and Nevada. These areas offer serene retreats, vibrant year-round living, and a thriving demand for lake properties.
With its proven track record, Lake Homes Realty is poised to meet this demand by offering a seamless, technology-supported real estate experience tailored to the unique needs of lake home buyers and sellers.
As with its approach in other parts of the country, Lake Homes Realty is committed to building a strong network of licensed agents with a deep knowledge of each local lake community. The company is already in discussions with experienced real estate professionals in California and Nevada about joining its growing team of lake real estate experts.
These agents, combined with Lake Homes Realty’s national resources and award-winning support team, deliver unparalleled service and guidance to clients throughout the buying or selling process.
“Expanding into California and Nevada marks an exciting milestone for us,” said Glenn S. Phillips, CEO of Lake Homes Realty. “The stunning lakes and dynamic lake communities in these states perfectly embody our mission to help people embrace the lake lifestyle of their dreams.” “We are uniquely positioned as millions of people already use our website, LakeHomes.com, to find their dream lake home, often searching on multiple lakes and in different states. With our national market presence and local real estate agents, we can connect more buyers and sellers in these remarkable locations,” adds Phillips.
The lake real estate market is a unique type of market. Glenn Phillips, CEO of Lake Homes Realty, discusses six things to know about this niche real estate market.
Unofficial Recession. Homes aren’t moving in the current market. Across the entire industry, it will be the lowest number of transactions in almost 30 years. This trend also applies to lake property.
Inventory Has Grown. More houses are on the market, so it looks like we aren’t in a recession. However, despite the strong demand for these houses, people won’t pay current prices.
“Phantom Inventory.” This is inventory listed at a price that buyers aren’t willing to make an offer on. Sellers set these aspirational prices to get their homes sold at their lottery ticket price.
Aspirational List Prices. You likely won’t get any engagement if you sell and list for an aspirational price. In fact, it damages how much money you’ll get over time. Once a home has been on the market for a long time, buyers begin to wonder if there’s something wrong with the house.
Prudent Buyers. Lake home buyers want what they want but aren’t willing to overpay for it. Prudent buyers and aspirational list prices create this unofficial recession.
Next: No Boom, No Bust. Lake real estate won’t experience more inventory to change pricing. Additionally, the lake market won’t bust with changing mortgage rates. So, lake real estate will be steady, with the same prices. Inventory will also loosen up a bit, with sellers becoming more practical and prudent buyers becoming impatient.
Lake real estate has several nuances that are not present in other real estate markets. With these tips, you can more successfully navigate this market. Visit lakehomes.com to connect with expert lake agents ready to help you.
When selling your lake home, and especially when setting your price, you need to think like a buyer. Glenn Phillips, CEO of Lake Homes Realty, shares a few questions to get you in the buyer mindset.
“Would I Rent This?” Think about whether or not you would rent your property for a week if you saw it on rental websites. Try to take emotion out of your thinking and act as if you’ve never seen it before.
“Would I Rent This Again?” After asking yourself if you would rent your property, ask if you would rent it again. Think about if your house has things that would make you come back over other lake properties.
“Would I Pay More Than List?” Before setting a price, ask yourself if you would pay more than the price you plan to list.
“Would I Buy at This Price?” You should also consider if you would pay the current list price of the property. The price you paid for the house a few years ago is probably relatively the same, if just slightly higher.
“Is it The Best Value In This Market?” The best value doesn’t necessarily mean the lowest price. Working with an expert lake agent helps you determine if your property is the best value in your market. Additionally, you want your property to be the best value compared to other lakes.
When It Doesn’t Sell, You Won the Bidding! Every day your property doesn’t sell, you win the bidding by getting to keep it for another day. This can help you determine if you need to change your mindset to a buyer’s perspective.
Selling your home can be challenging if you don’t have the right mindset. Using these questions and guidelines helps you to think like a buyer and get your lake property sold. Connect with expert lake agents at lakehomes.com and sell your home faster.
