Because of the climate here in Alaska, our real estate industry partners know what it takes to weather (pun kind of intended) a shorter peak selling season than markets in the Lower 48.
How big is the difference between peak season and the rest of the year? Trend data shows that homes in Alaska tend to sit on the market for around 60 days at peak times... and four months-plus in the winter.
When planning winter sales strategies, one option you may not have considered offering your clients outside of that May-July window is to consider marketing their property to vacationers and possibly even as a short-term rental.
Here’s why we think so…
Why Alaska Vacationers Could Be Your New Target Audience
Surveys show that vacationers all over the country dream of moving to their vacation destination while they’re visiting. Want some hard numbers?
Alaska welcomes more than 2 million visitors each year.
The state’s winter tourism, specifically, has risen by 33% over the last decade.
Nearly a quarter of Alaska tourists’ vacation dollars are spent on lodging alone.
Alaska’s short-term rental (or “STR”) market is growing, but current STR laws are pretty straightforward, making it an easier consideration here than in other places.
Redfin says 29% of its users search for homes in the place they’re visiting.
Droves of interested vacationers spending nearly $424 million on lodging accommodations under fairly lax regulations who are staying in your real estate territories?
This combination tells us that targeting short-term renters could be your next winning marketing strategy.
The best part about incorporating this new audience into your planning is that most of the footwork has already been done through your original listing efforts.
How so?
What You Can Do with Your Current Marketing Materials
Once a property has been listed, you already have many of the materials you need to promote it as a short-term rental. If you’re one of our clients, for example, you already have a stellar property listing gallery and most likely a 3D tour.
You also have a listing description that can serve as base content for your STR listing content. Take a look at some of the top-rated STRs in your area via popular STR sites like AirBNB and VRBO for properties similar to yours to get a feel for successful descriptions.
Here are a few ways to update the materials you have in order to better market to this special target audience.
Consider Adding Aerial Photography
Aerial photography can be an effective tool in exhibiting the grandeur of a vacation rental home. It can also give potential STR guests a good idea of all the local area has to offer - in terms of both (temporary) tourist attractions and natural features they could enjoy more permanently.
Enhance Your Gallery with Area Attractions
We highly recommend incorporating additional photos of local area hotspots, as well as a few hidden gems to give your listing an edge over others in the area. For listings a bit further out, you can highlight guided tours - fishing, cross country skiing, wildlife expeditions, and so on.
Utilizing Video in Your Promotional Efforts
Use video to highlight rental amenities that you wouldn’t necessarily promote in a real estate listing. Show them the welcome basket, and mention the fully stocked coffee bar. Take them to the linen closet and let them see the luxury bath towels and sheets for themselves. Just make sure you keep your video(s) 2-3 minutes tops.
Tying In the Sale
Remember, your goal with these enhancements is always two-fold: while you want to draw in potential short-term guests, you also want to plant the seed of calling this property home.
Here are a few ways to directly tie-in your sales listing:
Include a link to the property listing in correspondence with renters
Leave a listing brochure in a conspicuous place (with the welcome basket, for instance)
If your STR host site allows it, utilize a contact link or appropriate description area as a place to link to your real estate company site listing.
Ultimately, you have an opportunity to let potential homebuyers really live out the Alaska experience for a few days or weeks in what would otherwise be an empty property.
With a 30-day closing window and/or a common rent-back agreement, you and your clients could benefit by opening up the calendar to short-term rental vacationers - financially and by exposure.
To learn more about how we think you should target these homebuyers, read here. Or if you’d like to talk more in person about ways DMD Real Estate Photography might be able to help take advantage of the Alaska STR trend, reach out!