5 Things that Real Estate Agents Should Know About Hurricane Season

The potential of tropical storms may not be a top-of-mind concern for real estate agents, but it's a real problem in the hurricane zone. Homes dotting the southern coastline are among the most desired and expensive places to buy. However, the warm waters bring the hazard of tropical storms. Here are five things real estate agents should know when factoring in hurricanes and major storms in the buying or selling process.

5 Top Things for Real Estate Agents to Know About Hurricane Season

1. Know the Risks of Hurricanes for The Territory You Cover

Hurricane season runs from June 1 to November 30 each year. It affects millions of people in the U.S. While the number and severity of hurricanes vary, generally, there are three to five major hurricanes annually. Hurricanes can affect anyone along the Gulf and Atlantic coasts. 

A handy flood calculatorcan help you assess the risk of water damage in your area. Flooding is one of the most catastrophic results of hurricanes. Knowing the risk will allow you to help with preserving the value of the home. 

2. Understand that Damage Prevention Is Important for Both Home Buyers and Sellers

Hurricanes are natural disasters that have the potential to cause catastrophic loss of property. A disastrous storm causes stress, inconvenience, and a decrease in the home's value. So, you may want to discuss how "hurricane proofing" a home adds tremendous long-term value to a home with a seller or buyer. 

Prospective home buyers should also check or ask about previous flooding, water damage, and any repairs as a result of a hurricane or major storm.

3. Know that Hurricane Season Can Stall or Hurt the Real Estate Market, but It's Usually Temporary

Providing real estate services in places like coastal Florida during the hurricane season can be frustrating. A savvy real estate agent may want to examine forecasts and recognize that some years are more active than others. The National Oceanic and Atmospheric Administration makes annual predictions of the severity of the hurricane season. It's a valuable resource to have on hand.

During especially active years, it may be harder to sell a house. But because coastal areas are so desirable, home values shouldn't drop too much even with a bad hurricane season.

4. Learn About Homeowner's Insurance and Provide Information About Added Coverage

Real estate agents know that homeowner's insurance is usually required to get a mortgage. However, homeowner's insurance may not cover the damage caused by hurricanes. In particular, flood damage is often not covered in a standard homeowner's insurance policy. Therefore, a real estate agent may advise a seller or buyer to have flooding coverage.  

5. Advise House Hunters that Hurricane Zone Homes Are Expensive and Inland Options Exist

While a beachfront property is a dream purchase for many, home prices are very high. Therefore, it's important to shop around and compare homes. Not only are beachfront homes more expensive, but hurricane-related insurance costs are high as well. A real estate agent can help prospective buyers find the best oceanfront property or help them select a luxurious home that is more inland.

With the knowledge of the hurricane zone, you can serve as a trusted real estate agent. Get your real estate license online from Aceable Real Estate School and help buyers find their dream oceanfront home.

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