Each region and island is distinct, and presents individual opportunities and challenges. As unique properties with a very specific and discriminating clientele, private islands require careful marketing to appeal to the right potential buyers. We offer a variety of affordable, effective services that can be tailored to the needs of each property and seller. However, there are also some general, global principles to bear in mind when considering selling a private island.
1. When it comes to island marketing, more is not always better. When an island can be found in many places online, it reduces the sense of exclusivity that forms a critical part of the allure of island ownership, and it also becomes more difficult to update and control the listing information. Properties lose substantial credibility when they appear to have a variety of prices, sellers and details and will be disregarded by potential clients. Private Islands Inc. provides a single, trusted marketplace for potential buyers, and actively maintains the integrity of properties by preventing our listings from being illegitimately duplicated online. For Island owners that require a more discreet method of advertising, we offer a number of services that are directed towards more serious qualified buyers, without exposing your listing to the masses. Please get in touch with us for more information.
2. Some owners prefer to show and take care of the details of their island sale on their own, whereas those with busy schedules or inexperience in real estate sales should opt for the services of a local broker to take care of property showings, client inquiries and paperwork. We have worked with virtually every real estate agent specializing in island sales, and we are more than happy to share our recommendations.
3. Know your audience. Large islands with few development restrictions that are located in vibrant tourism regions should be marketed with developers in mind, and framed as investments. Smaller properties with a fully-developed home or that have heavy restrictions are more likely to appeal to individuals or families seeking second homes. Private Islands Inc. has a comprehensive, active list of clients.
4. Provide adequate information. Island listings which lack details such as permissible development, geographical and topographical data, exact location and other information crucial for potential buyers to know will receive fewer qualified inquiries and have less credibility than listings that offer complete details. See our Guide to Writing an Island Description for a general outline.
5. Obtain high-resolution images. When marketing properties that routinely cost millions of dollars, sellers cannot afford to lose buyer's attention due to unclear representation. Islands with high-quality images receive more interest and more qualified inquiries. Futhermore, your island may be eligible for a range of promotional services including a feature in Private Islands Magazine and inclusion in media publications.
6. Determine whether your market is local, international, or both. The type of promotion you will require to successfully sell your island depends on these considerations. Islands with a strong local market, such as in popular North American vacation areas, may require less (but more targeted) promotion. Islands in tropical countries where no genuine local market exists should have a broad marketing strategy aimed at international investors. The niche industry knowledge gained through working with Private Islands Inc. will help you determine the level and type of exposure necessary to reach your future buyer. Click here for an overview of the private island market.
7. Research your island's value when determining the price. Island evaluations are not simple, this due to a lack of comparable local properties and the changing and often rapidly appreciating nature of markets. However, over-pricing a property and having to make drastic reductions reduces the desirability of an island to prospective clients and should be avoided. Contact us for assistance.
This guide is by no means comprehensive, but intended to provide a basic framework for starting to market your property. As each individual case is unique, we encourage you to contact us for a consultation.