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Resort & Second-Home Markets
Topics: Investment Homes, Niche Marketing, Resort, Resort Development, Second Home, Vacation Homes
Designations & Certifications: Accredited Buyer's Representative (ABR®), Certified International Property Specialist (CIPS), RSPS - Resort & Second-Home Property Specialist
Affiliation: RESORT
Format: Classroom, Online
Resort & Second Home Markets

Course Credits:

  • This course is required to attain the RSPS Certification.
  • This course is an ABR® elective course.

Duration: 1 Day Classroom, 2 Day Online

Format: Classroom, Online

Course Objective

The course is designed to teach the essentials of buying, selling, or managing resort properties and second homes for recreation, investment, and development by U.S. and international clients and customers in the United States.

  • Skills and Knowledge Foundation
    1. Focus on developing the skills required to be successful in the second-home vacation and investment market.
    2. Use market statistics and knowledge of the motivations for a second-home purchase to develop a business strategy and make business decisions about capturing and serving the market.
    3. Identify the impact of trends and issues on business strategy and client and customer service.
  • Customers, Clients, and Properties
    1. Determine your market and customer/client profile.
    2. Compare and contrast characteristics of types of second-home vacation and investment properties.
    3. Explain second-home financing and ownership options.
    4. Help clients and customers evaluate and choose the type of property, form of ownership, and financing options that meet their second-home objectives.
  • Building Your Business
    1. Use information about trends affecting second-home vacation and investment properties to develop and improve marketing strategies and tactics.
    2. Develop communication and marketing tactics for building customer and client relationships with long-distance and long time-frame buyers and sellers.
  • Tax and Investment
    1. Explain investment terminology in relation to second-home vacation and investment properties.
    2. Explain the IRS guidelines for tax treatment of second-home vacation and investment properties including the fourteen-day rental rule and its implications.
    3. Analyze and explain the tax implications of converting investment property to personal use property.
    4. Recognize the applicability of the Foreign Investment Real Property Tax Act (FIRPTA), comply with its regulations, and explain its requirements to clients and customers involved in a transaction with a foreign buyer or seller.
    5. Recognize situations in which a tax-deferred 1031 exchange would be possible and advantageous.
    6. Help the client or customer analyze the investment value of a property.
  • Regulatory Matters
    1. Comply with SEC guidelines regarding investment advice.
    2. Recognize the impact of regulatory, insurance, growth, and environmental issues on the purchase, sale, and ownership of second-home vacation and investment properties.
    3. Tap into sources of information on complying with local, state, and national regulations of second-home vacation and investment properties.
    4. Participate in influencing regulatory and tourism entities to shape a favorable environment for the purchase, sale, and ownership of second-home vacation and investment properties.

Course Outline

Chapter 1: RSPS Certification

  • Resort and Second-Home Property Specialist Certification Program
  • Benefits of the RSPS Certification
  • Earning the RSPS Certification

Chapter 2: Building a Resort and Second- Home Business

  • Course Goals, Organization and Learning Objectives
  • Facets of the Specialty
  • Building your Resort and Second-Home Business
  • Networking for the Resort and Second-Home Specialist

Chapter 3: The Recreation and Lifestyle Market

  • Recreation and Lifestyle Markets
  • The market from a National Viewpoint
  • Profile of Vacation and Investment-Home Buyers
  • Ten Market Trends
  • Second Home Markets
  • Buying a Home for Student Children

Chapter 4: Helping Clients and Customers Make the Right Choice

  • Choosing a Location
  • Analyzing Investment Value
  • The Facts About Second-Home Financing
  • Finance Strategies
  • Ownership of Vacation and Second Homes
  • Case Studies

Chapter 5: Tax Treatment of Vacation and Second-Home

  • Tax Terminology
  • 4- Day Rental Rule
  • Converting a Second Home to a Primary Residence

Chapter 6: The Marketing Mix

  • Your Marketing Plan
  • Choosing the Right Media
  • Tracking Costs and Effectiveness
  • Personal Branding

Chapter 7: Trends and Issues

  • Traffic Congestion, Transportations, View Obstruction
  • Mandatory Club Dues, Mortgage Interest Deductibility
  • Riparian Rights, Water Use, Boot Mooring, Anchorage, Navigation

Resources

Quiz

This course is available online through REALTOR University Click here for registration
DateCompanyInstructorLocationRegister
06/10/2013 West San Gabriel Valley Association of Realtors, I David Wyant San Gabriel CA Register Online
626-288-6212
Send an Email
07/22/2013 Prescott Area Association Prescott AZ 602-248-7787
Send an Email
08/16/2013 Park City Board of REALTORS®, Inc. Park City UT 435-200-6900
Send an Email
09/11/2013 Lexington-Bluegrass Association of REALTORS® Lexington KY 859-276-3503
Send an Email
09/23/2013 New York State Association of REALTORS® Roseann Farrow Riverhead NY Register Online
800-239-4432
Send an Email
10/15/2013 New York State Association of REALTORS® West Babylon NY Register Online
800-239-4432
Send an Email
10/24/2013 New York State Association of REALTORS® Canton NY Register Online
800-239-4432
Send an Email
10/24/2013 New York State Association of REALTORS® Roseann Farrow Canton NY Register Online
800-239-4432
Send an Email
11/15/2013 Pinellas Realtor Organization Clearwater FL 727-216-3004
Send an Email

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