4 Ways to Enter the Second-Home Market

The second-home market is going strong — and it's no wonder why.

Home is now the office, the classroom, the gym and more. When your clients spend that much time at their primary residence, they're bound to need an escape. And a second property is the perfect way to do it.

This market can be tricky, though. You're not just selling a home. You're selling a lifestyle, and expectations are high.

Here's how you can increase your chances of success:

  1. Know the second-home mindset. A vacation home is no longer a weekend trip for retirees. It can be a co-primary residence for remote work and online schooling or a luxurious getaway.

  2. Stay in control. You understand the flow of the market. You know when to buy and where to find the best deals — such as fixer-uppers at reduced price points. Use this knowledge to guide your clients to the best property for them.

  3. Leverage your referral network. You have connections that out-of-town buyers may need. For example, a knowledge of local lenders, appraisers and insurance agents can come in handy at closing time. And for buyers who want to renovate, you can recommend a list of general contractors for their next project.

  4. Get your name out there. Take part in local charities and events. Get to know the luxury crowd. It may need to be through online outlets, but you'll be establishing yourself as a valued member of the community.

The second-home market is full of potential. Reach out today to learn more ways to tap into the housing trends of the moment.