The Critical Importance of Using a Seasoned Advisor for Marina or Resort Acquisitions or Dispositions

Selling a marina, resort, or investment property can be a complex and challenging endeavor, requiring a deep understanding of the market, legal considerations, and negotiation skills. While some owners may consider selling on their own asset or relying on friends or acquaintances to handle the sale, there are critical, significant benefits to partnering with a seasoned, experienced advisor. The main benefit being that you typically quadruple your ROI, and more, on any fee you might pay to a trusted, seasoned Advisor. There are multiple formulas to figure for your multiple ancillary values like future revenue on new additions or what the value of a quality team of employees is that is already inplace. these ancillary values can potewntially add millions to your sales price.

Conversely, attempting to sell without professional guidance can lead to pitfalls and negative outcomes that may ultimately cost the seller both time and money. Furthermore, inexperienced sellers may fall prey to savvy buyers who can exploit their lack of knowledge to negotiate lower prices or unfavorable terms.

Benefits of Using a Seasoned Advisor:

1. Market Expertise: A seasoned advisor brings in-depth knowledge of the marina, resort, or investment property market. They can provide insights into current market trends, comparable sales, and pricing strategies, helping sellers set realistic and competitive asking prices.
   

2. Marketing and Exposure: Experienced advisors have established networks in the industry and targeted marketing strategies to effectively showcase properties to potential buyers for the highest possible price point. They can leverage their circle of influence, online platforms, and advertising channels to maximize exposure and attract qualified buyers.
   

3. Negotiation Skills: Negotiating the terms of a property sale requires finesse and expertise. Seasoned advisors are adept at navigating negotiations, advocating for their clients' interests, and securing favorable deals while mitigating risks. They also are not emotionally involved in the asset, which has proven to be a negative impact on a sale, time and time again.
   

4. Legal and Regulatory Compliance: Selling a marina, resort, or investment property involves various legal and regulatory requirements. A knowledgeable advisor can guide sellers through the legal process, ensuring compliance with relevant laws and regulations to avoid potential legal pitfalls.
   

5. Streamlined Process: Selling a property can be time-consuming and overwhelming, particularly for individuals without prior experience. An experienced advisor streamlines the selling process, handling administrative tasks, coordinating inspections, and managing paperwork, allowing sellers to focus on other priorities.
   

6. Maximized Returns: Ultimately, a seasoned advisor's expertise, strategic approach, and negotiation skills can lead to optimized outcomes for sellers, including higher sale prices, favorable terms, and smoother transactions. Typically you quadruple your ROI, or more, on any fee you might be paying a trusted , experienced advisor.
   

Pitfalls of Selling Without an Advisor:

1. Incorrect Valuation: Without access to market data, key formulas and metrics and expertise by being in the field day in and day out, sellers may incorrectly value their properties, leading to overpricing or underpricing, which can deter potential buyers or result in lost profits. They also are not aware of the formulas used to evaluate ancillary value that could add millions to an asking price. We also see that many times they allow a someone who has little to no credentials to try and sell their most expensive asset worth millions of dollars.
   

2. Limited Exposure: Selling without professional assistance limits exposure to a pool of potential buyers, reducing the likelihood of receiving competitive offers and prolonging the selling process.
   

3. Legal Risks: Inexperienced sellers may inadvertently overlook legal or regulatory requirements, exposing themselves to potential lawsuits, disputes, or complications during the sales process.
   

4. Negotiation Challenges: Negotiating directly with buyers without proper representation can be challenging, especially for sellers lacking negotiation skills or industry knowledge. This can result in unfavorable terms or concessions that negatively impact the sale.
   

5. Emotional Attachment: Owners may have emotional attachments to their properties, clouding their judgment and hindering their ability to make objective decisions during the selling process.
   

Impact of Savvy Buyers on Inexperienced Sellers:

Savvy buyers can take advantage of inexperienced sellers in various ways, including:

1. Lower Offers: Buyers may exploit sellers' lack of market knowledge to submit lower offers, capitalizing on perceived vulnerabilities or overpricing.
   

2. Favorable Terms: Inexperienced sellers may agree to terms that heavily favor buyers, such as extended due diligence periods, or reduced contingencies, without fully understanding the implications.
   

3. Delayed Closings: Savvy buyers may prolong negotiations or exploit loopholes in contracts to delay closings, or "tie up the property" putting pressure on sellers and potentially jeopardizing the sale, not to mention denying other qualified buyers from making a potential higher offer.
   

4. Reduced Sale Price: Without professional guidance, sellers may unknowingly agree to price concessions or discounts that undervalue their properties, resulting in reduced sale prices and not receiving the full value of their asset.
   

In conclusion, selling a marina, resort, or investment property is a significant financial transaction that requires careful planning, expertise, and negotiation skills. Partnering with a seasoned, experienced advisor can provide sellers with numerous benefits, including market expertise, marketing exposure, streamlined processes, and optimized outcomes. The investment you make in bringing on a trusted advisor many times will quadruple your return and more, on any fee you might be paying.

Conversely, attempting to sell without professional guidance can expose sellers to pitfalls, legal risks, and exploitation by savvy buyers. By recognizing the importance of professional representation and leveraging the expertise of seasoned advisors, sellers can navigate the selling process with confidence and maximize their returns.

Ken Capps is blogger and CEO of Marinas and Resorts LLC. If you would like more information or to schedule a consultation with our team please email us at admin@MarinasandResorts.com