When it comes time to sell a tract of land, there are different considerations than when selling a home or residential property. Most homebuyers are interested in a move-in ready home with certain features that usually don’t vary a whole lot. Land buyers on the other hand may be interested in all sorts of uses for a particular plot. Size, soil type, elevation, tree cover, climate and many other factors come in to play when determining if a land buyer will be interested, so different techniques are needed for listing and marketing land for sale.
Consult a Professional
Your first step should be to connect with a real estate agent who is experienced with land sales and the land market. They will work as your trusted partner throughout the process and will be able to best position your land for the quickest sale at the best price.
Make it Picture-Perfect
One way in which selling land is similar to listing a home is visual appeal. Just as you wouldn’t want to show your home with dirty dishes in the sink, you should do your best to make your land look as appealing as possible. Remove any trash, cut grass or weeds and maybe even plant some wildflowers to make your land pop when your real estate agent takes marketing photos.
Get a Survey
A survey showing your land’s property boundaries can provide useful information to potential buyers to see if your land meets their needs. If the land is a home lot, be sure to show setbacks on the survey as well.
Choosing Your Price
When selling a home, setting a price is relatively easy. Homes in developed areas can use the comparable sales method for setting a price, but for raw land this is not quite so simple. Tracts of land may have fewer neighboring properties to establish a comparable value. Furthermore, the intended use and natural resources on the land such as timber can greatly influence price. This is once again why it is important to work with a real estate professional with a proven record of success in listing and selling land.
Talk to Your Neighbors
There’s always a chance that a potential buyer might be right next door. Adjacent landowners may be interested in purchasing your land as a buffer, to increase their landholdings or simply to control what gets built next to them. Give them a call.
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