While the title “resort specialist” may conjure up images of poolside meetings and multi-million dollar beachfront homes, the reality is a bit less glamorous.
REALTORS® who work within this unique niche – buying, selling, or managing properties for investment, development, retirement or second homes in a resort/vacation destination – have faced a turbulent economic climate that has stifled sales and spooked buyers.
While transactions of primary residences have fallen, the market for vacation and second homes has performed even worse. But there are signs of a rebound, and the REALTORS® in the best position to profit from the upturn are the ones who know the market and the customers better than anyone else.
The Resort & Second-Home Property Specialist (RSPS) is an education-based certification program, launched in 2006, to better serve the growing second-home and resort real estate market. With over 1,300 members, RSPS is recognized as an official NAR certification and allows buyers and sellers to have confidence in the ability of a REALTOR® who specializes in resort and second-homes to assist them with their search.
Resort specialists have access to resources that include:
- Resort Symposium – Held every 18 months, this symposium helps you participate in quality education sessions, learn about new marketing techniques, network with like-minded professionals and more.
- Resort & Second-Home Real Estate Forum – An educational forum for members to learn about emerging issues in the resort and second-home market
- The Find a Resort Area/Second-Home Specialist directory – Allows members to self-identify, promote their specialty and quickly locate members in other parts of the country.
They also have access to news and industry trend reports that allow them to communicate and market to the second-home buyer more effectively. For example, vacation home buyers who have the means for a second home purchase are increasingly avoiding mortgages and paying all-cash for their properties. A certified REALTOR® will be able to confidently walk buyers and sellers through the tax rules for second homes and all-cash purchases.
Working and succeeding in this market requires more than an affinity for jet skis. The most successful resort specialists invest the time and effort into the RSPS certification that keeps them on the cutting edge.