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*Updated February 15th, 2024
Are you looking to become a real estate agent in the Carolinas and specialize in coastal properties? If so, there are a few things you need to keep in mind when it comes to selling coastal real estate. In this blog, we’ll go over some key points that real estate agents must understand about selling coastal properties.
Know The Market
The coastal real estate market is unique and varies depending on the location. As a real estate agent, it’s crucial to stay up-to-date on market trends and prices in your area. If you’re selling coastal real estate in North or South Carolina, you need to understand the local market and be able to provide valuable insights to your clients. Be sure to understand the specifics of what your client may be looking for in a coastal property, such as: distance to the ocean or water source, and whether they plan to use the house as a primary residence or a vacation rental.
Understand Flood Zones
Coastal properties are more prone to flooding, so it’s important to understand the flood zones in your area. As a real estate agent, you need to know which properties are in high-risk flood zones and how that impacts the cost of flood insurance. This information is valuable and important to potential buyers, especially those who are not familiar with the area. Some coastal properties may fall under more stringent flood zones that are prone to more water damage from storm surge or tidal shifts. Knowing how to communicate the risks associated with flood zones to your clients is key.
Be Knowledgable About Insurance
Coastal properties require specialized insurance coverage due to their location. As a real estate agent, you should be familiar with the types of insurance coverage that coastal properties need, such as wind and flood insurance. You should also be able to help your clients locate insurance providers that offer coverage in your area. It is crucial to understand that buyers from other areas that are not used to coastal real estate will likely need a lot more information regarding flood and wind insurance, so it would be wise to have informational brochures, fliers, and documents handy to benefit potential clients.
Highlight The Lifestyle
Coastal living is all about the lifestyle, and as a real estate agent, you should be able to highlight the benefits of living near the coast. Whether it’s access to the beach, water activities, or stunning views, you should be able to show your clients what makes coastal living so desirable. Along with making sure clients are aware of any risks, you should also be quick to point out the luxuries of coastal real estate and how those luxuries mostly outweigh any negatives.
Know The Regulations
Coastal properties are subject to a variety of regulations, including zoning laws and environmental regulations. As a real estate agent, you need to be familiar with these regulations and be able to explain them to your clients. This includes understanding the impact of erosion and sea level rise on coastal properties. This is especially important when selling vacant coastal land as there are a lot of wetlands that cannot be built on or areas that are deemed preservation lands that may not be touched for various reasons.
In conclusion, selling coastal real estate requires specialized knowledge and understanding of the market, flood zones, insurance, lifestyle, and regulations. By keeping these key points in mind and staying up-to-date on the latest trends and regulations, you can provide valuable insights to your clients and help them find their dream coastal property. If you’re interested in becoming a real estate agent in the Carolinas, be sure to check out Pinnacle Real Estate Academy’s SC Pre-Licensing and NC Post-Licensing real estate course options!
