‘Waterfront property’ is without a doubt one of the more sought-after requests we as realtors get from buyers in our market. Whether you’re looking for a bayfront condo in Ocean City or maybe a larger single family-home in the surrounding areas such as West Ocean City, Ocean Pines, or Berlin… the common thread we hear over and over from our clients is ‘we want a waterfront property’.

After all, ‘water’ is the foundation of what attracts us to the beach…. And Ocean City is, after all, “the beach.” Whether ‘waterfront’ means dipping your toes in the clean, crisp Atlantic Ocean, or diving feet-first into the local Assawoman Bay, who doesn’t love being near the water? The ocean and the bay help us recharge, refocus, and relax. For many of us, it’s nature at its best. And with all the benefits of living on the water, we’d be remiss if we didn’t point out that this lifestyle isn’t without its challenges. Today, we’ll walk you through our top pros and cons of owning waterfront property in Ocean City, MD or the surrounding beach areas.

Pros

1.    Breathtaking Views

If you are considering owning a property directly on the Assawoman bay, you will be able to enjoy sunsets over the bay every single day. The sunset in Ocean City, MD truly is stunning, and it can even become a part of your daily routine! We’re sure sitting on your deck watching the sunset over the bay will become a new favorite pastime.  And Ocean City has plenty of Bayfront opportunities in a variety of price ranges. Here’s an example of just a few!    

2.    Easy Water Access

We often hear from our clients who live on the water that their favorite part about where they live is the easy water ‘access’, meaning the opportunity or ability to easily use and ‘access’ their watersport toys such as kayaks, paddle boards, jet skis, or boats. Simply put, when you’re near the water, you probably want to be ‘on’ the water! There are plenty of options to own a waterfront property in communities like Ocean Pines and West Ocean City. Owning a bayfront property in these communities will give you direct access to the Assawoman bay, and even the Atlantic Ocean with just a short ride! Interested in what these homes may look like? Check them out here!

      Our Awesome Community

The eastern shore of Maryland is filled with great people who are always looking to help one another. There are also plenty of opportunities to own a home in a community that has tons of events, social gatherings, and other activities for neighbors to take part in! This helps create a strong sense of belonging for families and retirees looking to build new friendships with their awesome neighbors! Glen Riddle is one of our favorite waterfront communities. While only some of the residences are direct waterfront, this community is situated on Turville Creek waterway behind Ocean City, and it features a large private marina with private boat slips, kayak launches, and lots of open areas for fishing/crabbing. Take a look at these properties in Glen Riddle!

4.    Investment Potential

Any home that is waterfront in Ocean City, MD or the surrounding areas has a TON of investment potential. With over 8 MILLION annual visitors, there is always someone looking for a great place to stay for their vacation to OCMD. Whether you decide to rent your property for just a few weeks, or most of the summer; capturing income from otherwise unused time in your beach home is a great way to help offset the costs of ownership…. And it should come as no surprise that waterfront properties perform well! Contact a great local vacation rental manager if you think vacation rentals are for you! Our personal favorite, who deserves a quick ‘shout out’ is Central Reservations. They’re a great company, locally owned, and extremely hands on with their property owners. Ready to start planning to enroll in your OCMD beach home in a vacation rental program? You can contact them by clicking here!

'Cons' to Consider

1.    Maintenance Costs

Any bayfront property, particularly one with a dock, can come with significant maintenance costs. We’re not saying this to deter you from owning your dream bayfront home with a boat slip, we’re just saying this to make sure you account for this when making your budget before you’re ready to buy!  Are you buying in a condo?   Does the Association take care of this, or are the individual owners responsible? These are important questions! Make sure you consider regular upkeep and cleaning costs for your dock or boat slip, so you won’t be surprised later.

2.    Insurance

Homeowner’s insurance on the eastern shore is generally more expensive than “over the bridge” as us locals call it. This is especially true for waterfront homes. Insurance companies can likely charge higher premiums because there is an increased risk of flooding and other water related issues.  While many factors are involved in this calculation, including ‘total’ elevation of the land, house, type of construction, etc.... This is something we encourage you to know the answers to before you buy. Once again, we’re not trying to deter you from these properties… we just want to make sure you budget accordingly!

3.    Environmental Factors

Living on or near the water in Ocean City, MD also means that you should be aware of different environmental factors. Make sure you are aware of and prepared for potential upcoming heavy storms or hurricanes. You should also always keep in mind that you are living near the water, on or just above sea level. There is not always somewhere for rainwater to go, so make sure you have the proper precautions in place to make sure rainwater is not coming into your home, high winds aren’t blowing your patio furniture into the bay…. and please make sure your boat is properly secured!

Wrapping it Up

Living in Ocean City, MD on the bay or near it can be a great opportunity to enjoy a new kind of lifestyle filled with all of the benefits we discussed earlier, and more! As we mentioned, there are some challenges to consider, but in our opinion, the pros FAR outweigh the cons.

We haven’t figured out exactly what it is yet, but there is just “something” about living at the beach that makes life a little bit easier.  So, if you find yourself at the point where you think you’re ready to explore owning a waterfront home at the beach, make sure you reach out! We’d be happy to share our local expertise, knowledge, and experience with you!

See you at the beach soon!

Grant Fritschle

Cell: (410) 430-5880

Email: grant@grantf.com

Office: (410) 524-6400

Jon Barker

Cell: (410) 935-3810

Email: jon@markf.com

Office: (410) 524-6400

So, you’re finally ready to start the process of purchasing an investment condo in Ocean City, MD (or the surrounding beach areas). Chances are, you’ve been thinking about this for a few years now. You likely have friends or family who have a beach place, and you’re wondering if purchasing real estate at the beach and enrolling your property into a rental program is worth it. More importantly, you’re probably wondering how to even get that process started.

No matter what else we share, and what else you read, the absolute best step you can take is to contact a great local Ocean City Realtor! If you don’t have one you love, rest assured, you’ve got one right here!

Before you take that oh so important next step, we’ll be giving you some important information to consider before you purchase an investment condo, townhome, or single-family home at the beach. While it may seem easy to invest in vacation rentals because of our town’s tourism industry and steady stream of potential renters, there are a number of things you should consider first. Vacation rentals ARE NOT a “get rich quick” scheme… they are a long-term investment. When you embark on your new vacation rental investment journey, it’s important to understand YOUR financial goals, what types of properties are good for vacation rentals, and how to ensure you get a good return on your investment. THIS is where the experience that a great LOCAL top realtor in Ocean City, MD can come in handy. As one of the best realtors in Ocean City, MD, a lifelong local, and majority owner of what I, and many others consider the best vacation rental management company in OCMD, Central Reservations, I can help you navigate the waters of investing in vacation rentals. Without further ado, let’s dive in!

Step 1: Understand & Identify Your Goals

We are starting with this step because it is 100% the most important step in investing in vacation rental properties in Ocean City. Understanding and identifying the LONG-TERM goals and plans for your beach investment property is imperative. If you don’t understand your goals, you have no way to quantify your investments success. Take a good amount of time to brainstorm what you want to achieve in your new venture. Do you want to rent for 1 year? 5 Years? Or 10 years? Do you want to rent for the whole year, or just the summer? Are you going to be using the condo during the summer? Do you know what vacation rental manager you would like to work with? All of these questions are important to ask yourself when identifying your goals. TAKE YOUR TIME with this step… you’ll be glad you did in the long run.

Step 2: Get A Good Grasp on Costs & Your Current Financial Situation

This step is rather self-explanatory, and you’ve probably already thought about it since you’re thinking about investing… but we wanted to mention it, nonetheless. You absolutely 100% positively NEED to understand ALL the ownership costs associated with real estate at the beach. The best realtors in Ocean City, MD will help you do so, but having a good understanding of these things will without a doubt make this process more seamless. Before you start condo shopping, make sure you know that every month you need to account for your mortgage payments, property taxes, HOA dues/condo fees, so on and so forth. Not only do you have to account for these ownership costs, but you should also account for other unexpected expenses that may occur when renting your property to vacationers. If you have a fully booked summer, your condo is going to be being used heavily. There may be unexpected hiccups along the way. When creating your budget, you’re going to need to account for things like appliances needing maintenance, other general maintenance (fixing doorknobs, cabinets, etc.), and a little bit on top of that… just in case! The next thing you want to keep in mind is how much money you currently have for a down payment on your home. Generally, the more you can put down, the better. This will help lower your monthly payment and you won’t have to pay as much interest on your loan. You want to have a good grasp on how much home you can afford, and what home price makes sense for you with your current and projected future financial situation. A good way to get started on this front is to contact a LOCAL lender. They can help you get pre-approved for a loan, which will make your home buying process much easier in the future and help elevate your potential offers above others. All in all, make sure you, your CPA and your top OCMD realtor do some number crunching, so you know your investment is one that’s bound to be fortuitous.

Step 3: Begin Your Condo Search (with a few things in mind)

After you’ve identified your goals, have a good grasp on your budget and current financial situation, it’s time for the fun part… searching for beach condos! Before we totally jump the gun and start looking at some of the beautiful pieces of real estate Ocean City, MD has to offer, you need to have a few things in mind. Make sure you have a top realtor in Ocean City, MD that mentions the things we are about to mention. They are absolutely paramount when deciding on a property for your vacation rental business. First, we feel that it is important to highlight that for a vacation rental, the “wow factor” is a HUGE part of a property’s (and its owners) success. There are thousands of beautiful vacation rentals in OCMD. When vacationers are using sites such as VRBO, or centraloc.com, they are looking for a stunning condo that is going to be their family’s home for a great vacation week this summer. You absolutely need to have something that makes your condo stand out. When you are searching for your vacation rental the next thing you need to do is to put yourself in the shoes of a vacationer. Would you rather stay in a condo that resides in a building with an indoor & outdoor pool, a sun deck, on site security, an elevator, maybe even a fitness & game room, or a condo that is simply just a condo with no extra amenities? We think the answer to this question is pretty simple, and most people would agree they would choose the first option. We’re not saying that a townhome on the bayside of Ocean City won’t rent well. That’s not the case at all. There is a wide range of clientele that vacations here. We’re simply saying that if your budget allows for it, you will likely be able to produce more income in a building with these added on amenities. Next, you will want to consider location. How does the old saying go about businesses? Location, location, location. Well, that rings true for vacation rentals too. Generally speaking, a condo in an oceanfront building on the boardwalk with all of the amenities we mentioned earlier will rent for more than a bayside townhome without any water views! With all of that being said, this is why doing some good number crunching and having a budget that makes sense for you is so important! Last, but CERTAINLY not least, you will want to consider a buildings HOA rules and financial health. When you call a top local realtor in OCMD, make 100% sure they are doing research on a buildings reserve study and HOA rules… BEFORE YOU BUY. Some buildings and/or communities have rental restrictions. These rental restrictions may say you can only rent on a long-term basis, which would make that a not so good vacation rental investment. They may also say you can only do weeklong rentals with a check-in on Saturday. Needless to say, you have to know these regulations! You also want to make sure the building you are considering purchasing in has “healthy” finances with enough funds to cover general common area maintenance over the next 5+ years. If they don’t, this could result in your condo fees going up dramatically, which could in turn decrease your return on investment. No bueno.

All in All…

The goal of this blog was to help give you an understanding of some of the things that really matter when you are considering purchasing a property in Ocean City, MD with the goal of earning some vacation rental income. We also hope that while reading this blog you realized this can be an investment that has a lot of nuances and steps you need to take in order to ensure you are making a sound investment. This is why we highly encourage you to consul professionals in this area. If you have questions about vacation rentals and the current vacation rental market, and what you can do to get started, contact our friends at Central Reservations (info@centraloc.com). If you are ready to start the home buying process, contact a great local lender, and the best realtor in Ocean City, MD! I would love to assist you and help you work through the process of buying an investment property at the beach. Thanks so much for reading! We hope you enjoyed.

See you at the beach soon!

Grant Fritschle

Cell: (410) 430-5880

Email : grant@grantf.com

Office : (410) 524-6400

Jon Barker

Cell: (410) 935-3810

Email: jon@markf.com

Office: (410) 524-6400

Buying a beach home, condo, or townhome in Ocean City or the surrounding beach areas is an exciting experience, as you are likely transitioning into another phase of your life! Our beautiful beaches, scrumptious restaurants, wide variety of activities, and family friendly atmosphere bring people to our town every single year. If you’re reading this blog, chances are you’ve been thinking about purchasing at the beach for a while now. With that being said, we want to make sure you have thought through these 9 things to make sure you find the perfect beach house, condo, or townhome in Ocean City, MD or the surrounding areas. You shouldn’t only be thinking about the number of bedrooms & bathrooms you want. There’s a lot more that needs to be considered before you pull the trigger and purchase real estate at the beach! We want to make sure you are as prepared as you can be… so, without further ado, let’s dive right in.

Know Your “Why”

Why are you buying your beach home? You should be able and ready to explain your reason(s) to your Realtor. Are you looking for a vacation getaway, an investment property, or a permanent residence? When you come to the beach, what do you do? What do you NEED in a beach property vs what do you WANT in your beach property? Know the differences and be able to explain them. Why? Because your goals will significantly influence the type of property you should be looking at. Knowing the answer to these questions and being able to explain the difference between your needs & your wants will help your Realtor (who we hope is the best Realtor at the beach) find you the absolute best property FOR YOU!

*Watch our YouTube Video on goal setting when buying property at the beach here!

Personal Use vs. Investment

Will you be using your new beach home purely for personal use, investment, or a blend of the two? You might be asking yourself, why does this matter? If you’re looking for a beach-home purely for your use, we need to focus 100% on exactly what YOU want, and WHY you want it. However, if you’re purchasing your Ocean City, MD beach property as an investment, we need to consider other things. Do you need to rent it? How much do you need to collect in annual rental income for it to be a sound investment? Is this property conducive to rentals? Will the Association allow short- or long-term rentals in the building or neighborhood? After we’ve answered all of these questions, we need to consider the long-term resale potential. Is this property in a high demand profile of the market? Will it be easy or difficult to sell in the future? All of these things will impact where we look, what types of properties we look at, and so much more. If you recently purchased, or have owned an Ocean City, MD condo for a while now and are considering renting it out to OCMD vacationers, contact our friends at Central Reservations! Here is a link to their website!

Long-Term Plans

Speaking of long-term potential – what is YOUR long-term plan for the property?  Your future plans can influence the type of property and location you choose. For instance, properties with strict Homeowners Associations (HOAs) might have rules that impact your future renovations or rental plans. Are there plans for new development in the area? Are you in a growing area that’s seeing a lot of rehab, or are you in an area that’s seen a recent influx of newly listed rental properties? What do future insurance trends look like? How do these factors work to your advantage or disadvantage? If you take a step back, really THINK, and consider all of these factors, I guarantee that they will impact your decision one way or another. Making sure you understand your goals and long-term plans is one of the most important parts of buying a home at the beach!

Location, Location, Location

The location of your property within Ocean City is a critical factor. Ocean City is divided into North, Midtown, and Downtown areas, each with its own unique vibe and attractions. Each of those areas is then divided into Oceanfront, Oceanblock, Bayside & Bayside Waterfront. This gives us 12 unique sections of Ocean City, MD. The location of your beach home can have a tremendous impact on how you use it, and ultimately, how much you like it! Do you love the boardwalk, the hustle-and-bustle, the activity and the old-school Ocean City vibe? Then downtown OCMD might be right for you. Are you looking for something slower, quieter, and more spread-out? I’d recommend looking at condos in North Ocean City. These are some simple answers to a bigger question. Diving deeper into the location consideration, we’ll be focusing on high-impact items. Maybe you’re considering a condo in the ‘perfect’ OC location, but have you considered the next level factors? Does your condo back up to a busy parking lot, or a bus terminal? Are you near a restaurant (imagine a restaurant dumpster in the 90-degree summer heat!)? How easy is it to access the things you like to do? What’s parking like?   Is the property you’re considering in the right building, but immediately beside the common-area stairwell, or trash-chute? When you’re purchasing real estate in Ocean City, MD or the surrounding areas, THESE THINGS MATTER! Make sure you have a great Realtor that asks you these questions BEFORE you go out and start viewing properties that are for sale!

Nearby Amenities and Attractions

Knowing what’s nearby can greatly enhance your experience. Make a list of amenities and attractions that are important to you. Then, step back, and consider what type of property fits those needs. Do you love to fish, and find yourself with rod-and-reel in hand 4 days a week? How about golfing? Check out this area that’s great for golfers! Maybe you’re a tried-and-true beachgoer who has to have their toes in the sand each and every day you’re here. Do you love a certain restaurant, or bar, or attraction? This plays into the “location” consideration above, while making you consciously think about what it is you’re looking for. In its simplest form, condos are nothing more than an “800-2000 sq foot box”.   You can paint them and decorate them however you want.   But that’s not why you’re buying in Ocean City! So why are you buying here? What attractions are you drawn to, and where do you spend your time? Make sure your Realtor knows this information!

Family-Friendly Facilities

If you have children (or grandchildren), being close to parks, playgrounds, and family-friendly attractions can be a significant advantage, and make your time spent at the beach much more enjoyable. Let’s take the above exercise and expand on it. We all know they’re going to love the beach no matter where the condo is. But for your sake, to keep life simple, easy and convenient... what would work best for you? For example, Northside Park in North Ocean City offers playgrounds, sports fields, and summer camps, making it an ideal spot for families. You can visit the Northside Park website here! Jolly Rogers is downtown on 28^th street and offers one of Ocean City’s best amusement parks (and water parks). Ocean City has mini-golf (putt-putt courses) on what feels like almost every street corner. So, what’s important for your family to have nearby? Do you need big local attractions like these? Or would a condo near 120^th street with a close proximity to the grocery store, Starbucks, Wawa, Ice-cream shops, restaurants and so much more all within walking distance be perfect? Are pools important, or not important? Think about your family, what they’d use, and what’s most important to have.  

*To the other extreme, for those that don’t have families or young kids to consider.   Think about this – What do you and your friends want nearby?  What do you want to use and to have easily accessible at your fingertips?   

Size and Layout

How big of a condo do you really need?   When we meet most people, they think they have this all figured out. After talking things through, understanding how frequently they’ll be using their OCMD beach home, condo, or townhome, and ‘how’ they’ll be using it when they’re here… many of our clients end up reconsidering what they need. This is a beach home. Kids can share bedrooms! Friends and family can share a bathroom! It’s about being at the beach with your loved ones. You may not need to have the same exact set up you have at home! Now guess what happens when you suddenly shift your home-search from 3-bedrooms to 2-bedrooms? Either your price-point drops considerably, or you can start looking at properties in a more desirable area… maybe even that oceanfront condo you’ve always dreamed of! How many bedrooms and bathrooms do you NEED? Do you prefer an open floor plan or more segmented spaces?

*If you do find yourself in a situation where your budget allows for a great oceanfront condo, watch this YouTube Video on some of my favorite Oceanfront Condominiums in Ocean City, MD, or view oceanfront condos for sale here!

Price

What price point are you aiming to be within? Let’s start with our biggest piece of advice for beach-home buyers… BUY BELOW YOUR BUDGET! Why? Because buying a beach-home is supposed to be a relaxing, stress-free experience. One that removes anxiety from your life…. Not one that gives you anxiety. Stretching your budget, pushing it to the max, or even buying more than you “NEED” can cause a lot of stress in the long run. Remember this – You’re at the beach!!! You’re not supposed to be inside the condo. You’re supposed to be outside exploring all the amazing things that Ocean City has to offer. So, before you start looking for your next beach home make sure you put a lot of thought into what you really want your budget to be. 

Market Trends

Stay informed about market trends in Ocean City. Work with a local real estate expert who understands the market dynamics and can provide VALUABLE insights necessary to have before you buy.  

Conclusion

Buying a beach home, condo, or townhome in Ocean City, MD, is a significant investment. By understanding your goals, thoroughly researching the location, considering nearby amenities, and being aware of property management and HOA rules, you can make a well-informed decision. Remember, working with a knowledgeable local Realtor can provide invaluable insights and help you navigate the process smoothly. If you’re ready to find your dream beach property in Ocean City, MD, or the surrounding areas, feel free to reach out. I’m here to help you make your beach real estate dreams a reality.

Grant Fritschle

Email: grant@grantf.com

Cell: (410) 430-5880

Office: (410) 524-6400

Jon Barker

Email: jon@markf.com

Cell: (410) 935-3810

Office: (410) 524-6400

If you or a family member live in Maryland, Pennsylvania, New York, DC, or any other state near the MD & DE beaches and are looking for a great place to retire, we’re going to make a strong case for our hometown(s) of Ocean City MD & Fenwick Island DE!  After all, who doesn’t dream of retiring at the beach!   Our small-town feel with a laid-back atmosphere, wide range of activities, restaurants, and of course… our pristine white-sandy beaches, all combine to make this a great place to spend your golden years.

If you’re considering making a move to the beach or are daydreaming about retiring in the next few years and are simply exploring your options… give this blog a read! We’ll tell you why we think you’ll be happy living & retiring in the Maryland & Delaware beaches. Let’s dive right in!

1.    The Allure of Beach Lifestyle

While living in a beach town can seem a bit intimidating or rushed because of the influx of tourists we get every year (over 8 MILLION visitors in OCMD annually), as locals, we promise it’s not as crazy as it seems. Yes, if you’re living on the boardwalk in an oceanfront condo… it’s going to get a little noisy. With that being said, there are plenty of communities to live in so that you can avoid the hustle and bustle of living in a tourist-filled beach town while still being a short drive from local attractions and the beach. Imagine waking up every morning and smelling the salty air, being able to do a morning walk on the beach, having beautiful sunsets & sunrises, and having a close proximity to a wide array of delicious restaurants. Now that sounds like a great place to retire… and the MD & DE beaches have all of these things! Relax, slow down, enjoy a laid-back lifestyle and live your golden years at the beach!

2.    Tightly Knit Community & Activities

Living in the MD & Delaware beach area isn’t just about being at the beach. While our area is filled with visitors that keep the town running, there aren’t an awful lot of people who live here year-round. While there are pros and cons to everything, we think our tightly knit community is something that gives our area some charm! Believe us when we say that at the beach, your neighbor and fellow locals are ALWAYS there to help you in a time of need. Having a small community brings everyone closer together, which is one of our favorite parts of living at the beach. As we mentioned before, there are PLENTY of things to do in our area. From some truly delicious restaurants and happening bars to music festivals, golf courses, and city hosted events/activities, there’s always something to do when you live at the beach!

3.    Excellent Neighborhoods for Retirees

Finding the right area or neighborhood to live in when you retire is a decision that you want to make sure you get right. Here in the MD & DE beach areas, there is plenty of that to choose from so you know you’ll have a wide variety of options and can choose which area or neighborhood is perfect for you! Side note- make sure you’re working with a LOCAL, top realtor in OCMD to learn about all of the popular neighborhoods for retirees. Most people who choose to retire at the MD or DE beaches choose to purchase a home that is about 15-20 minutes away from the beach so they can enjoy some peace and quiet. A few neighborhoods we think are perfect for retirees include Ocean Pines in Berlin, Bayside in Sussex County DE, Glen Riddle in Berlin, or Bear Trap near Bethany Beach.   We could go on and on about each and every one of these communities, but we think this is a great time to tell you that if you have a great LOCAL realtor working to find your perfect home in Fenwick, Bethany or Ocean City, they should be able to tell you all about these communities. If you’re interested in learning more about these neighborhoods, give us a call! Our contact information is at the bottom of this blog.

4.    Wide Range of Property Types to Choose From

If you’re about to retire or are one of the lucky ones that already has… chances are you’ve thought about what type of home you’d like to live in for the next phase of your life. Whether you’re looking to downsize to a stunning oceanfront condo, purchase the single-family home of your dreams in a golf course community, or anywhere in between, we’re sure you can find something that’s perfect for you in the MD & DE beach areas. Working with a great Agent, such as one from the Fritschle Barker Group, is an imperative part of the process when identifying your needs and your wants for your retirement home. When you’re exploring your options for your retirement home at the MD or DE beaches, we always recommend that are clients dedicate a night or two to making a list of some of their needs and wants for their next phase of life. This doesn’t have to be related to the property itself… this list can include anything you want! Do you want to play a ton of golf? Put it on the list. Do you want to be close to a few great restaurants? Put it on the list. Do you need the washer & dryer on the same floor as your bedroom? Put it on the list. Once again, we could go on and on with questions you should be asking yourself. However, chances are that you’ve been thinking about this for a while now. Your goals, wants, and needs are completely different from anyone else’s. Write them down and give a great local realtor a call!

5.    Close Proximity to Restaurants & Activities

One of the things that our team loves most about living at the beach is our access to an abundance of nearby restaurants and activities. We love the fact that you can literally drive from the inlet of Ocean City, all the way through Rehoboth beach and see things to do or places to eat on almost every street (and we’re not kidding). Our town has a restaurant to fulfill almost any craving you could possibly have. We have restaurants with fresh seafood and crabs, dive bars with finger food, fine dining with a view, bars with huge dance floors & live music, family restaurants, and everything in between. It’s a common misconception that the only thing you can do in the MD & DE beach areas is go to the beach, go out to eat, or go out to drink. This couldn’t be further from the truth! There’s plenty of other things to do in town as well. Feel like a day out on the water? We have boat rental companies. Want to play minigolf with your family? Believe us, there’s plenty of options on that front. Arcades with the grandkids? Got that too. Ropes courses? Yep! Are you a golfer? There’s plenty of that around! Living at the beach means there’s always something to do and always somewhere good to eat.

6.    Success Stories from Our Clients

With decades of local real estate experience at the beach, we’ve helped thousands of clients, friends and families buy and sell their dream homes.    While it’s always great to talk about using cutting-edge technology, and the best new trending tools, the foundation of who we are lies in loving what we do, taking exceptional care of our clients, and treating everyone like they’re one of our own.    That’s what drives our team’s success, fueling the stories of countless clients who keep returning to work with us time and time again.   If you’re ready to jump-start your own success story at the beach, give us a call.   Working with the best is always the best place to start.  
#BestRealtorsAtTheBeach

7.    Taking the First Steps Towards Moving to the Beach

Once you’ve made the decision to start looking for your beach home, the next step is easy. Contact us, tell us about your dreams, and put us to work as your new agent-partners at the beach.  Our agents at The Fritschle Barker Group at Keller Williams Realty of Delmarva have the experience, knowledge, tools, skills and local resources to help make your move to the beach as smooth as possible. We’ll help guide you throughout the whole process to ensure you get into a retirement home that is perfect for you!

Conclusion

Our wonderful beaches, tight knit local community, excellent neighborhoods, and loads of restaurants and activities make the Maryland and Delaware beaches the perfect place to retire. No matter the reason you are drawn to the MD & DE beaches to retire, there truly is something for everyone here. If you’re ready to make the move, give us a call or send us an email! We’d love to help you transition into the next phase of your life in the smoothest, and most importantly, the most stress-free way possible. Thanks so much for reading our block on retiring at the beach! We look forward to welcoming you into your new beach home soon!

See you at the beach soon!

Grant Fritschle

Email: grant@grantf.com

Phone: (410) 430-5880

Jon Barker

Email: jon@markf.com

Phone: (410) 935-3810

Selling a home can be a stressful & complex process no matter where you live. This is especially true in a resort market like Ocean City. Our goal is to help address most common questions we encounter from property owners looking to sell their beach homes. Hopefully with this information in hand, you’ll be better prepared to navigate the sale of your beach home. (Hopefully with us as your new agent-partners).

1. When is the right time to sell?

Timing is important when selling any home. We made this our first point, because it’s one that most sellers don’t give enough consideration to…. And the answer isn’t always as simple as you may think.

When a Seller is considering the value of ‘time’ in the sale of their beach home. We want you to consider three things. First, it’s important to consider when you sell, what the market is like during that ‘time of year,’ and how we’ll fit into it. Second, consider YOUR timing, and make sure you let us know what’s important. Do you have a need/expectation to sell quickly, or do you not care? These are important details! And third, consider the impact of the ‘loss of use’ of the proceeds from your sale. Time is an important factor there. For example, we’ve had sellers reject an offer over a $500 difference, only to ‘carry’ the property for three more months (accumulating $1200 in expenses in additional condo fees alone).

In short, the way your property is introduced to the market…. the way your property is positioned within the market… and the way we present your property to the market, can all vary dramatically based on your decisions behind timing. We pride ourselves on excelling in all of these areas, but we can only do so if we know exactly what your goals and expectations are.

So, let’s come back to the Question: When is the right time to sell? A: After you’ve had a conversation with a great local agent who has shared a lot of market data, recent comps, marketing forecasts, and then created a pricing-and-marketing strategy specific to YOU. An agent and a plan that you have extreme confidence in. With that established you can conquer any market at any time of year!

2. Are There Enough Buyers Out There for My Property?

The answer to this question is very, very simple….so pay very close attention. “You only need one!” Which is why I’d encourage you to read the last three sentences of this blog again. A great agent, a great plan, and we will find the right buyer!

If I really explore this question the way most of you are expecting me to, I’d answer it in more detail as follows:

There’s a lot going on in the real-estate market in Ocean City right now. It’s 2024, which means we’re in an election year. Implications of inflation from the last few years is finally being felt in people’s wallets. Interest rates have climbed, and not dropped, as many had expected. The insurance industry is impacting real estate on multiple fronts, nationwide. And Maryland recently passed House-Bill 107 (impacting Ocean City in a disproportionate manner). I say all of this to acknowledge that the market has changed, and there are certainly multiple factors that could create some obstacles to buying. As with anything else in life, the key to overcoming our fears and obstacles is through understanding and education. THAT is what a great agent does. And THAT is how we find the buyer for your property.

Needless to say, there are always people looking to buy their next beach home (or condo) in Ocean City, MD. Getting them to buy YOUR property is MY JOB!

3. How should I choose my Listing Agent?

Start where we all start when we want info on anything…. Google! Use it as a tool, and not the sole-deciding-factor. This is still the best way to start your search for a top realtor in Ocean city, MD! Find five or six agents, READ THEIR REVIEWS, check to make sure they’re truly LOCAL to the area, and then interview them. Not one. Not two. Three or more. Get on the phone, have a conversation, and find out who impresses you the most. Use the info below to determine who the best is:

There are a number of qualities and credentials you should be looking for when choosing a top real estate agent in Ocean City, MD to list your property. Dominant agents are ones who will provide you with a wealth of information, guidance, and expertise. Those agents will have strong, established systems and resources that will benefit their clients. The days of a realtor selling themselves because they have a “strong marketing plan” are over. Today, the best Realtors need lots of experience, strong relationships, great communication skills, and a knowledge base that will help keep a buyer or seller away from trouble, pitfalls, errors, or mistakes that can cost either side thousands of dollars (or more).

Another key quality is to look for a “hyper local” agent. These Agents will have lots of connections with consumers, other agents, appraisers, lenders, and other great vendor contacts. These relationships are often what get deals done! Make sure your agent has a literal encyclopedia of knowledge about the area you are selling in. This will make you feel comfortable with the fact that you are getting the best service you can.

Lastly, let’s not forget to include the most important quality of any great Realtor… being a GREAT listener. A real estate agent has to be able to truly hear and understand your needs, wants, and goals and make decisions related to the sale of your home that will fulfill them. Always ask yourself this question… is your real estate agent listening to you, or just talking AT you. When choosing an agent, follow these guidelines and you’ll find yourself happy with your decision.

4. What’s the difference Between Good Agents and Great Agents?

The average consumer tends to think that real estate agents do two things… open doors & write contracts.

We can say with 100% certainty that a great real estate agent is going to do a whole lot more than open doors and write contracts. Great agents understand that real estate is a business of nuances, and that’s never been more true than in a second-home market like Ocean City, MD. Consider this- sellers in our town almost never “need” to sell their home, and buyers in or town almost never “need” to buy a home. All the more reason to make sure the Realtor you choose is masterful at what they do!

Make sure your agent understands the nuances of the market and the small incremental changes that can be made to significantly increase its value and appeal of your property? Has your agent explained to you what you need to do as a seller to ensure your property is attracting the right pool of buyers? Or, has your agent simply said, “sure I’ll take this listing” and asked you almost no questions about your goals? The difference in the quality of an agent can be substantial, and asking these questions can help you determine whether you have a “good” or a “great” agent behind you. At the end of the day, ask yourself if you believe the agent you selected has set you up for success in every way possible, and you’re on a fast track to achieving your goals.

Conclusion

Selling a home in Ocean City, MD brings an extremely unique set of challenges that are different than a primary home market. If you understand the market dynamics (or have an agent who does), choose a GREAT agent, and time your sale appropriately, you are on a fast track to getting your home sold without any hiccups while achieving all of the goals you set forward. If you have any questions or are looking for the best Realtor in the MD & DE beach area, give us a call!

Grant Fritschle: (410) 430-5880

Jon Barker: (410) 935-3810

See you at the beach soon!

How the top 3 motivators to holding open houses differs from Suburbia to Beach Town

What do you see when you picture an open house? It probably looks a little something like this: visitors’ cars lining the street, an open house sign with balloons in the front yard, couples roaming about the home, trays of cookies, pitchers of refreshments, and a real estate agent mingling with potential buyers, handing out flyers of information about the listing. To that, I’d say your imagination is pretty accurate. Now take your imagination, pack it in a suitcase, cram it in your trunk, and drive it to Ocean City. Now that you’re in your favorite beach town ever, what do you see when you picture an open house here? Hate to burst your bubble, but… SPLAT.

It looks nothing like what you’re used to. According to NAR’s 2022 trend report, while 41% of buyers attended an open house, only 2% of buyers actually purchased the house they visited. I bet that statistic can be cut at least in half for 2nd home markets like OCMD. Let’s compare some apples to oranges with the top 3 open house motivators.

*Our apple will be 123 Main Street in Suburbia USA, and our orange will be Condo #123 in our beloved Ocean City, MD.

Signs, signs, everywhere there’s signs

🍎 Suburbia, USA

For the week leading up to the open house, signs are posted in the neighborhood to generate interest and spread the word. Joe Schmoe sees them on his way to and from work and tells his wife they should swing by over the weekend. Neighbors tell their friends who have always wanted to move to the same neighborhood. Agents add the stop to their list for the buyers they’re showing around on Saturday. Add some balloons to those signs the day of your open house and you’re golden!

🍊 Ocean City, MD

Hmmm, well you’re not allowed to post signs in OC, and there’s no yard/area in front of the building where you could position a sign – or maybe there is, but chances are the building’s by-laws prohibit advertising of this kind. In fact, most buildings won’t even allow you to post a sign in the elevator or lobby areas to at least advertise the event to current residents and guests–not in advance, and usually not even just the day-of.

80% of Success is Just Showing Up!

🍎 Suburbia, USA

While every Agent’s dream is to have a steady flow of potential buyers visiting his or her open house, the results may vary. But for a standard 2-hour long open house, 10-20 groups would be considered a very successful turnout. Which means 10-20 people the Agent can add to his database. Smashing.

🍊 Ocean City, MD

In Ocean City, attendance is very much influenced by the time of year–but wait, it gets even more complicated than that. Our population is about 7K year-round residents on this little 10.5-mile long island, but during summer weekends, we host up to 345K vacationers. That’s nearly FIFTY TIMES our population. Because of this influx of occupancy, summer open houses benefit from a much larger turnout; however, the unfortunate side effect is that most of these attendees are merely curious passers-by and not real buyers. Winter (or off-season) open houses suffer a reduction of visitors, but the chances of those attendees being serious buyers is higher. This doesn’t sound so bad, though, right? Course not. Until I tell you what the average attendance rate is… a good turnout at a summer open house would be about 5 groups. A good turnout at an off-season open house? Consider yourself lucky if you have one person walk through that door. That’s right. One. Person.

If you’re wondering why–or if you’re a real estate agent in Suburbia USA and you think we surely must be doing something wrong–consider all this:

1) For an in-season open house, most properties are part of a rental program with Saturday turnover, meaning the only chance we have to host an open house is between 10AM and 3PM on a Saturday. And on “Turnover Saturday,” the people we’re targeting are likely to also be arriving or departing that day, and find navigating summer Saturday traffic about as exciting as a root canal–adding even more stops to the day isn’t exactly a high point of interest. Our visitors then have to battle Parking Patrol: the building’s employees who check parking passes to ensure they’re a registered guest of the building; if they are not, they need to find off-site parking nearby and walk to the building (guess how many actually decide do that), otherwise they risk being towed or having their car booted. And yes, that does actually happen. Don’t forget, we also needs to arrange with the property’s housekeeper to prioritize the cleaning of the condo after the rental guest has checked out, to ensure it will be ready before the open house begins.

If the property isn’t a rental, then you don’t have most of these problems, you say? Sure, sure. We can certainly hold open houses during the week in properties that aren’t rentals, so we have less of the Turnover Battle with time constraints, traffic, and cleaning. Guess how many serious buyers take off a day in the middle of their work week to travel 3 or so hours each way just to attend a single open house? I’ll wait while you count those unicorns.

2) Ah, but off-season open houses must be where all the action is! Sorry, but nope. We struggle even more with off-season open houses, to be honest. If the success of an open house is measured by the number of attendees, off-season ones are often a bust. And when I say “bust,” I mean no one showed up. The other times, we had one visitor. Two or more people? That was a banger of an open house. But even though I did say these attendees have a higher likelihood of being serious buyers, at least 50% of the time they’re actually just neighbors in the area who saw the open house sign when walking the dog that morning or coming back from their morning Dunkin run. (For those lucky locations where we’re at least allowed to put out a sign the day of the open house.) It’s also the same struggle as those mid-week summer open houses: how many people make a day-trip to OC on a winter weekend just to visit an open house or two? These aren’t necessarily unicorns, but they’re at least an Ili pika.

The Truth in Advertising

🍎 Suburbia, USA

Get the word out there! In addition to decorating the streets with signs the week leading up to the open house, Agents have the world at their fingertips with Facebook. Facebook ads allow Agents to advertise directly to potential buyers in the area, and it even allows them to push a Facebook reminder notification to them the day of the event. This is a great way to get the listing in front of potentials buyers, even if they can’t attend the open house. Agents are able to hyper-target their audiences through location, age, and interest filters, to ensure their ads are getting in front of the users most likely to have an interest in their listing.

🍊 Ocean City, MD

We’ve already discussed how we can’t post signs around town (total bummer, but we get it). And while our open houses do syndicate to public listing sites like Zillow (yuck) and Realtor.com, that’s about where it stops. Sure, we can email our leads lists, but email is honestly the lowest form of communication and, as a marketing service, it should only be a small slice of a much larger pie. But you can run Facebook ads, right? Nope. When putting together a Facebook ad, you define what city or cities you wish to target–meaning you’re targeting people who currently live in that specific city. Our buyers don’t live here… in the last 6 months alone, buyers of Ocean City real estate live in 340+ different cities. Our audience simply isn’t target-able.

Open Houses used to be the easiest (and only) way a potential buyer could preview a home without an Agent–back when listings could only have a handful of bad quality pictures at best. But now we have stunning photography, amazing videos, and immersive virtual tours; buyers don’t necessarily need open houses to get a better feel for a property these days. And for people who live hours away from the location of their future beach home, open houses aren’t even on their radar anymore.

But in Suburbia USA, open houses really do work–maybe not to sell houses, per se, but that hasn’t been the reason for hosting open houses for a long, long time. The internet changed all of that for us. What open houses do now is connect people. In all honesty, more than anything, they serve the agent, not the seller; they bring an influx of unrepresented buyers right to their doorstep- er, right to their client’s doorstep, but you know what I mean. The Agent can add a dozen or so quality buyers to his database in just a couple of hours. But that’s just not the case for us here at the beach, and I believe it’s important for Agents and Sellers to realistically manage these expectations.

So you’re probably thinking, Grant, your team hosts open houses all the time. Why do it if they don’t work? You’re absolutely right. We hold open houses as often as possible, because whether the person walking through that door is a summer lookie-loo or a winter neighbor, a bored beachgoer on a rainy day or a parent waiting for his daughter’s dance troupe to go on stage at the Convention Center in the middle of January–it’s still eyes on the listing and feet through the door, no matter how few. Our Sellers deserve every possible effort in selling their beach home, and while I can count on one hand the number of times I’ve sold a listing to someone who attended my open house, in all my decades of doing real estate, that’s one handful of deals my sellers may otherwise never have gotten.

For more information about open-houses, or anything beach related, give us a call.   We'd love to help with your next real estate need.  

Grant Fritschle  410-430-5880

Jon Barker 410-935-3810

#OpenHousesOceanCity  #OceanCityMDOpenHouse  #TopAgentOceanCity   #BestAgentsAtTheBeach

#OceanCityRealEstateExperts

I know what you’re thinking, but even though I’m no Joanna Gaines, I know beach rental properties. Not to toot my own horn or anything (but, toot-toot), I own Ocean City’s #1 vacation rental management company. I have seen the results of a properly-staged and furnished beach home – and by results, I mean: more money, increased occupancy, and better care.

The first thing to consider when starting your planning is this: expect the same level of care from your renters as you’ve put into the home. And that doesn’t mean you need to buy top-of-the-line decor and furnishings—mostly it means things need to be clean & in good condition. If a renter enters a property with torn & tattered furniture or stained carpets, for example, they’re going to see that little care has gone into the property and that will absolutely influence how they treat it.

Rule #1

Your guests should know they’re at the beach whether they are outside or—you guessed it—inside your beach home

While everyone’s taste is different, there are certain expectations from weekly visitors about the property they’re renting. Bright colors, beach-themed decor, de-cluttered & flowing spaces. It’s also important that they can easily “move in” to the space and, for the duration of their stay, it feels like it’s theirs. This means there aren’t personal items of yours displayed in the home, such as family photos.

Rule #2

If you love it, lock it up

Whether it’s something sentimental, or just a piece of decor you really love that would be difficult to replace, keep these things locked inside your owner’s closet. It’s not that renters are destructive—it’s that they’re trying to cram as much as possible into a week or weekend, so they’re always in a rush. And often times they have small children. Accidents happen. Dishes will chip, decor will break, things will spill… that’s just life on vacation!

I tell a lot of my clients to buy decor from Roses—believe it or not, Roses has some really cool stuff but, more importantly, it’s very inexpensive & easy to replace! Many of my clients even get their bed & bath linens, kitchenware, and small appliances there, because it’s so affordable and convenient (no matter where you are located in Ocean City, Roses is always ‘just up or down the road’).

Pro tip: don’t wait until May or June to replenish your stock; everything will be sold out! We also have a TJ Maxx in-town now and you can get great, higher-quality items at discount prices — but again, don’t wait until May or June.

Rule #3

You can’t please all the Goldilocks’ in the world, but you can sure try

When it comes to beds, everyone has his or her preference for a soft or hard mattress, so we recommend going with something in the middle. But beyond that, what size beds you have is really important. In the master/primary bedroom, you should have at least a queen size bed, but having a king will make your guests even happier.

Beyond that, the bedding layout is specific to how many bedrooms you have overall, but here are some general rules-of-thumb:

• Don’t have too many twin size beds (honestly, none would be great) – only very small children will be comfortable in a twin size bed, and it’s better to have beds that are ‘too big’ than it is to have beds that are too small

• If you have a 2BR condo, your 2nd bedroom should have 2 double/full size beds and a queen sleep sofa in the living room

• If you have a 3BR condo, your 2nd bedroom would do well with a queen or 2 double/full size beds, your 3rd bedroom should have 2 double/full size beds, and a queen sleep sofa in the living room

• Even if you don’t advertise it, a quality sleep sofa is always appreciated

Ultimately, however, you can turn to your vacation rental manager for guidance. But trust when I say there is hard evidence that properties with twin size beds book slower and for less money than comparable properties that have full/double beds instead.

The final & best piece of advice I can provide is to leave your beloved beach rental home in the hands of a locally owned and operated vacation rental agency. While I can’t speak for other vacation rental markets, I imagine they’re much the same — those of us who choose to live in a seasonal town that comes to life only a few months a year — we’re incredibly passionate about this place. There is just something truly special about Ocean City, and some generic Jane or John sitting at their computer on the other side of the world booking your property doesn’t understand that — and, moreover, doesn’t physically have the ability to run up the road to check on your property.

But those of us who live here and rent your property for a living? Not only do we have the ability to check on your beach home in a matter of minutes, but we actually do it routinely & we care about your property as if it were our own. We take great pride in, and recognize what an honor it is, to be part of every family’s beach vacation memories that they’ll remember for the rest of their lives — they’ll remember this magical town, they’ll remember the friendly faces who greeted them at arrival, and they’ll remember the charming place they got to call home for the week.

We hope you found this helpful and informative.   We're here for all your beach real estate needs.   Reach out with any questions you might have.   We'd love to help. 

Grant Fritschle  Grant@GrantF.com

Jon Barker   Jon@GrantF.com 

#BeachRealEstateExperts  #OceanCityRealEstateExperts   #TopAgentOceanCity   #BestAgentOceanCity

Chances are, if you’re looking to buy a beach home, it’s not your first real estate transaction.  However, that doesn’t stop Buyers from making purchase blunders that can potentially—and often do—lead to losing the contract on their dream beach home.  I’m going to cover the most common mistakes we see during the purchase process, so you can be sure to avoid making the same or similar mistakes when you’re ready to submit an offer on your beach home.

DON’T MISS ANY LOAN OR CREDIT PAYMENTS

I’ve seen situations where Buyers are closing on one property while selling another, and the property they’re selling has a loan payment due just a matter of days before closing—they don’t need to pay that, because in a couple days they won’t own the property anymore, right?  Wrong. 

That missed payment gets flagged on their credit report.  Many Buyers think they’re safe once they have the loan commitment in-hand, but your Lender is going to re-run your credit before finalizing your mortgage to check for any drastic changes that have happened since the commitment was issued.  If you find yourself in a situation like this, always reach out to your Settlement Attorney to ask how payments should be handled on a property you’re selling—they will never tell you to not make a mortgage payment!  On your Settlement Statement (often called an ALTA or a HUD-1), you will be credited any monies due for a mortgage payment that covers any periods after the settlement date.

AVOID MAKING LARGE PURCHASES

We know it can be tempting to start purchasing furniture and décor for your beach home so you can start ‘making it yours’ as soon as you have the keys in your hand… But I’m going to have to ask you to place that credit card on the table, put your hands in the air, and slowly back away.  Taking on large debts shortly prior to settlement raises red flags to your Lender.  Remember, part of your credit score is based on debt-to-credit ratio, and suddenly eating up that credit has the potential to significantly alter your credit score.

Also, don’t buy a new car.  Please.  It’s not uncommon for Buyers to get that “beach buzz”; for many, owning a beach home is a big Bucket List item, and when that becomes a reality, it’s hard to not ride the high of achieving a lifelong dream.  So much that it becomes an impetus for wanting to achieve more goals… like buying a shiny, new car.  This adds a massive debt load to your credit and almost always leads to your Lender being unable to approve your loan at the final stages.  Now you’re left with a pretty car full of beach gear, but no beach home to take it to!

PRETEND YOU DON’T HAVE A BANK ACCOUNT

Well, not literally… But avoid making any sudden changes to your bank account.  Think of it like this: your Lender is going to look at your bank account(s) during the commitment phase, and again shortly before closing at the final stage.  Now let’s pretend those two inquiries are “spot the difference” pictures.  There should be very little difference in those 2 pictures.  Now, this doesn’t mean you can’t spend money, of course (ya gotta eat, am I right?), but your financial behaviors should be nearly identical, both in terms of withdraws and deposits. 

If a Lender sees large deposits suddenly appear in your account, it’s going to make them nervous.  At minimum, the money you’re going to use for your down-payment needs to be in your account for 2 months.  Adding new money to your account that is out of the ordinary from your usual financial behavior can appear fishy to your Lender and they may no longer be comfortable backing your loan.

You will also want to avoid moving money around between accounts or moving your finances to a new banking institution.  I know it can be tempting when a competing bank waves ‘impossible to resist’ offers in front of your face, but you’re going to have to achieve the impossible and let that offer pass you by.  That offer (or maybe even a better one!) will come around again, don’t you worry.

The ultimate message to take from all of this is that your Lender is looking for stability in your financial status and habits.  Your pre-approval and/or loan commitment was based on the current state of your finances at that time.  Keep your finances at that state all the way through closing.

DON’T CHANGE JOBS (or retire… yet)

Your Lender is looking at how reliable and stable you are, right?  A major influencing factor is your employment history.  Your Lender looks at a collective, consecutive period of pay stubs as reassurance that you are gainfully employed, receiving a consistent income from the same employer for a period of time—and that trend will likely continue.  However, if you suddenly change jobs and have little, or no, income history with your new employer, you’re now a much higher risk for being able to cover your mortgage payments.  I’ve had Buyers think a letter from their new employer will be enough to reassure the Lender, but it’s often not.  It’s in your best interest to wait to make that move in your career until after settlement.

The key to being a smart Buyer is knowing the roles of those involved in your transaction, and the most important person involved—honestly, probably even more important than your Agent (ah, shucks)—is your Lender.  Once you have a clear understanding of how they’re looking at you as a Buyer, you’re much more capable of maintaining your finances in a way that makes you most desirable to them.  STABILITY + CONSISTENCY = LOW RISK.

Thanks for reading, don't hesitate to reach out with any questions.   We are your beach real estate resource

Grant Fritschle  410-430-5880   Grant@GrantF.com

Jon Barker  410-935-3810    Jon@GrantF.com

#BestBeachRealtors  #BestAgentsInOceanCity  #TopOceanCityRealtor

Why you shouldn’t use Zillow’s new Touring Agreement when buying in Ocean City Md. 

As we sit down and write this, the industry of Real Estate is under more changes than we have seen in quite some time. As all of us Realtors know, change is inevitable in our industry. Change can be scary, BUT it can also lead to new opportunities. In our unique Ocean City Maryland Real Estate market, change doesn’t always affect us in the same way (and in the same timing) that it affects Realtors nationwide. Here’s a perfect example - Let’s look at Zillow’s introduction of Non-Exclusive Touring Agreements in response to the recent NAR settlement - which requires buyers and buyers-agents to have signed written agreements prior to showing properties. Today, we’re going to dive into how and why Zillow’s proposal has already been shot down by the Maryland Association of Realtors; and why we applaud Maryland for their position on this (as Realtors and Consumers). But before we do, here’s a quick reminder and disclosure that all thoughts and comments below are simply our opinions. We’re not legal experts and encourage you to do more research if you have any questions.

Here’s what you need to know about Zillow’s proposed ‘Non-Exclusive Touring Agreements’: Zillow’s Non-Exclusive Touring Agreement is essentially an agreement between a Zillow Agent (aka, an agent that pays Zillow a lot of money to be handed Zillow leads) and a prospective buyer that’s been perusing Zillow. Their new policy states that these two parties can enter into a “Touring Agreement,” which is essentially a non-binding agreement that allows the Buyer to work with this “Zillow Preferred Agent” with no strings attached, for up to 7-days. This agreement may sound like a nifty loophole to the new NAR (National Association of Realtors) policy, as it appears to give the Buyer a ‘trial’ period to see if they ‘like’ their agent. Even more enticing to the consumer, this Zillow Touring agreement does not require compensation or exclusivity…. With Zillow Group quoted as saying that “not requiring compensation or exclusivity is ‘by design,’ and that they believe any negotiation of compensation, and what it will look like for the buyer and agent to work together, should happen after they both meet and feel ready.” (Source).

The Maryland Association of Realtors has reviewed, and since voiced concerns regarding this new touring agreement created by Zillow. They have, in fact, stated that the Touring Agreement in its current form is non-compliant with Maryland Law. Maryland, our beloved home state, of which all of its residents are proud to reside in (couldn’t you tell, practically every one of us has at least 1 item of clothing with our state flag), is one of the few states that has operated with formal Buyers Agency Agreements FOR YEARS. Furthermore, according to the Maryland Brokers act, showing a potential buyer a home is a service that constitutes “providing brokerage services,” which necessitates a written “brokerage agreement” establishing a “brokerage relationship” (Source). In short, Maryland is saying that our state has already had Agency Laws in place for years that work to protect the consumer. They further explain that if a potential buyer does in fact choose to NOT sign a brokerage agreement, the agent showing them properties therefore represents the SELLER. Back up. No seriously, back up. Read that again! If you’re a buyer and you are working with a real estate agent, and you don’t sign a formal Buyers Agency Agreement with that agent, then that agent legally represents the SELLER! (Zillow Touring Agreement or not). Meaning anything you tell that Agent (who is not YOUR agent), is not confidential and should be shared by that agent with the SELLER.

Simply put, the Maryland Association of Realtors is trying to protect YOU, the consumer (the BUYER) by pointing out that Zillow’s new non-exclusive touring agreement fails to meet the criteria of a brokerage agreement under Maryland law. Since the agreement does not establish an agency relationship between the buyer and the broker, it means the buyer is not a client, and the agent who is showing them properties does not owe them any fiduciary duties. The Maryland Association of Realtors believes that the lack of clear representation undermines the disclosure requirements of the Maryland Brokers Act and could result in non-compliance with Maryland law, along with confused Buyers. As a part of their response, the Maryland Association of Realtors reminds all agents to establish WRITTEN buyer’s agency agreements that are consistent with Maryland law as well as the NAR settlement agreement, BEFORE working with a Buyer’s Agent to see a property. 

Zillow’s introduction of their new non-exclusive touring agreement has, of course, sparked debate within the industry. While it may aim, on the surface, to put consumers first, it is crucial for Buyers to understand the true implications of Maryland’s laws and how this Zillow loophole will potentially work against them (and certainly not for them). This is especially true in our market here in Ocean City. So please remember, adhere to state laws, and ask before you act! Talk to a great local Realtor, ask lots of questions, and don’t do anything until you’re satisfied, you’re working with someone who is going to work hard for YOU. Someone who you’re confident in, and who has the experience, knowledge, and passion to help you with your real estate needs.

Why is this more important “NOW” than ever? Because there are TONS of changes occurring the Real Estate industry…. and that is without even mentioning new Condo Laws in Maryland which are dramatically changing our small real estate bubble in Ocean City, Maryland. Considering all of these changes and new laws, we cannot think of a better reason to make sure that EVERY buyer is working with a great, LOCAL, real estate expert. When you’re looking for the top real estate agents in Ocean City or searching for Ocean City Maryland condos for sale, always remember the importance of transparency, communication, experience, and knowledge. It’s not just about finding the #1 Listing Agent in OCMD, or the best realtor in Ocean City, Maryland; it’s about finding someone who prioritizes your interests and knows as well as understands the rules and laws of our industry. Thanks so much for reading, and if you have any questions, please feel free to reach out! *If nothing else, hopefully you’ll at least remember this one final comment, to help you in any real estate search. Don’t use Zillow to schedule a property tour or showing… Ever. You don’t know who you’ll be working with, or how experienced they are. What you can be certain of is, the agent you get connected with paid Zillow a lot of money to get your lead. Read that again and think it through…. Zillow got money to share your contact information with an agent that had to meet no other qualifications than to offer Zillow money. So do 30-seconds of due-diligence. Find a great local Realtor. Call your Agent friends at home, ask them who they know or if they can refer you to someone. Speaking of great, local Agents with a ton of knowledge and a passionate desire to work with new buyers (like you) …. If you’re looking to buy or sell a home or condo in Ocean City (and the surrounding resort areas) I encourage you to give me or my business partner a call. You can reach us at either of the numbers below:

Grant Fritschle- (410) 430-5880

Jon Barker- (410) 935-3810

*Never hesitate to reach out to our partner company Central Reservations, for all your Vacation Rental Needs at the beach.  www.CentralOC.com

When it’s time to say goodbye to your Ocean City home or condo, there are a handful of tried-and-true practices to follow. We’ll take you through each one, but just be aware, they aren’t in any particular order! Each one is super important, and should be considered carefully during the listing process.

Research and interview at least 2 LOCAL Agents.  
Before you meet with any agent, Google their name.  What comes up?  A skilled area agent should have healthy Google reviews, a prominent Google Business presence, and a dedicated website listed throughout the Search Results. 

During each interview, use a checklist to make sure you’re asking every agent the same questions; this way, you can compare them on a level playing field. Click here for our checklist recommendations.   

Remember, location and expertise matter. It’s important to use local Agents because it’s of utmost importance that you have experts responsible for one of the largest investments you’ll ever make. Not all real estate is equal. Think of real estate licenses like medical degrees—doctors have areas of specialty, and so do real estate agents. For example, I would never try to represent a seller in Baltimore because my specialty is Ocean City. 

• Does your agent know about the Condominium Rules & Regulations and how they affect your wants & needs in a beach home? Local agents know what to look for, whether it’s to make sure your furry 4-pawed friend is allowed, or to make sure your boat is the right size for the dock. 
• Are you looking in Flood Hazard areas… does your agent know a good Flood Insurance provider? Is the policy covered with your Condo/HOA dues? Do you need a flood elevation certificate? 
• If you’re looking for investment property, local agents know what buildings & areas have the highest return on investment, and which developments & buildings have rental restrictions. 

All of this might seem overwhelming to you—and it will be overwhelming to an agent who isn’t from here or familiar with today’s market in this area—but for local agents, this is what we live & breathe on a daily basis.

You don’t need the newest or most-updated condo in order for it to sell. 
But freshening up certain things will go a long way in getting you sold quicker, and for a higher dollar. A fresh coat of paint instantly transforms your home, brightening each space and making everything appear cleaner; remember to use neutral colors! Having your floors professionally cleaned, believe it or not, isn’t just about the spots and stains—it’s also because it infuses your home with a fresh scent that can last for months. 

Lastly, it truly does help if the property is staged. This doesn’t mean you have to go buy expensive decor, but it does mean the items on display should act as decor. Tidy up your kitchen countertops, remove excessive knickknacks, take down personal photos, store all bathroom toiletries in cabinets, keep beds freshly laundered, and it doesn’t hurt to have a reed diffuser in each room for pleasant scents (just ask my wife).

Remember, there are buyers of all types in Ocean City, and most of them are just looking for a clean, well-kept place. Whether your home is updated or not, it doesn’t really matter; there are buyers for all levels of condition.  But what every buyer wants is a clean, well-kept home.

Being “for sale” and being “visible” are two very different things in our industry.  
The internet is a huge place, and so are all of the major Real Estate websites.   Ask how your property is going to be marketed, not just where.  Make sure that everything is being done to optimize your home’s listing for high visibility and best presentation.  Is your agent hiring a professional photographer? (iPhones don’t count.) Will he or she have a 3D virtual tour completed? Are digital ad campaigns going to run? What about video advertising? Print and email campaigns? All of these things should be done for you; it’s a large part of what you pay them for!

The internet changed a lot for our marketplace.  We used to be highly seasonal.  Now it seems like we’re busy almost all year long.  
So when is the right time to list, and when is the wrong time?   First, we recommend looking at this on such a macro level that you might need a microscope. (Just kidding.) Quite literally, however, we mean the actual day of the week. If we can all agree that (1) first impressions matter, (2) properties with the best marketing plan have a better chance of selling faster and for a higher price, and (3) the more people who see a property, the better chance it has to sell… then your Agent should be able to explain the importance of listing on certain days of the week.

As I indicated before, Ocean City is not like other “normal” residential areas. Our agents watch what is called the local “Hot Sheet”–a list of everything that’s come to market in the last 24 hours. Getting your home in front of area agents is just as important–and sometimes even more important–as getting it seen by potential buyers. Local agents are constantly working with multiple buyers who are each looking for something very specific, and those buyers trust that Agent to find them the perfect place as soon as it comes on the market. 

So listing on a Saturday, for example, significantly reduces your chances that local agents are going to see it come to market on our Hot Sheet. Why? Because we spend most of our Saturdays showing property to out-of-town buyers, weekend after weekend, until they find just the right place. You want your listing to show up for the first time at front and center, when agents have the time and mental capacity to fully digest every detail; you don’t want to risk your listing getting lost in the masses, among the shuffle and chaos of a Saturday. And that’s just one example. Timing is influenced by holidays, market conditions, and even the weather!

What might be the most important subject is last for a reason.   We don’t want you to forget about it! 
I know I said these weren’t in any particular order, but I did intentionally save this one for last. Selling at the beach can mean many different things to many different sellers.   There is no “one size fits all” approach, or strategy, that will work for every seller.    In fact, the best agents have the tools, resources, and ability to be flexible enough to create custom-tailored strategies for each of their sellers.   

So many factors influence sales in a resort town. We know you’re here just for quick tips, so we don’t want to overwhelm you with too much information. Especially because not every factor will apply to your beach home. But we’ll give you an example. There are periods when we have what’s called a “renters market”; this is when you’ll have an audience of buyers who typically can afford to purchase a beach home only if they put it in a summer rental program. If your property hasn’t been in a rental program in the past 2 years, your agent should be able to get a projected rental income for you based on comparable properties, and advertise your beach home’s rental potential.

If the market is flush with properties just like yours, your Agent needs a strategy for getting your listing at the forefront. And trust me, there’s always a way. Your Agent knows (or should know) your buyers–meaning that he or she has previously worked with clients looking for property like yours, and knows what characteristics draw those buyers to your home. And that is the foundation upon which your Agent will begin building a strategy to list, market, and successfully sell your home.

Listing your beach home for sale can feel like a daunting task, but matching your home with the right Agent will take a lot of that pressure off your shoulders. Following these 5 simple tips will help you get started, and get your home SOLD!