How to Sell Lots and Land (and why It’s Different from Selling Homes)
There are many benefits from having specialized expertise on board, so we encourage you to work with a real estate agent who specializes in lot and land sales. So take action and find a way to reach past the home buyers and get to that pool of active lot and land buyers. Let us know in the comments! Whether you’re just starting the process of selling your lot or land or you need to re-energize your efforts, we hope these tips help you. They will help you understand the market, set a price and market your land to the right buyers. Selling lots and land has its unique challenges and strategies when compared to selling a home, and these are several of the ways you can boost your selling efforts. What have you found that helps you in the lot and land selling process?
It’s just not the same for vacant residential lots and land. Selling a lot or vacant land typically will take longer than a house. Start marketing a new home listing and a new lot listing when both are desirable and priced well, and you generally can expect fewer contacts about the new lot listing. There simply are fewer numbers of buyers for vacant land than consumers looking for homes. The market for existing homes is almost always more vibrant than the land market.
Cut the grass (or weeds), remove trash and take marketing photos of your property when it is looking its best. Also you should consider having your property surveyed in advance and mark your property boundaries. This will provide useful information and help buyers see the potential in a property to encourage a sale. It’s like staging a home, but you’re just working with raw land instead. Some sellers even plant wildflowers to make their vacant land look beautiful. For home lots, show setbacks on the survey too.
You have to be patient. And while some of these comparisons may seem disheartening, people successfully sell lots and land every day. Lot and land markets are hot across the country. We’re here to help. While we have noted that there are many differences when selling land, at the same time the concepts are similar to selling a home. Now is one of the best times in decades to sell land to developers and others looking for vacant land. But don’t be discouraged. You just need to tailor your strategy, tools and focus for selling this type of property.
Wondering how to sell your land faster? Many people expect the market dynamics for lots and land to be the same as the market for existing homes. Read on, and follow our 9 Steps for Selling Land and Vacant Lots listed below. What are the important things you should know when you want to sell land? They are not. You’ll be better prepared to sell your home lot or land if you understand some of the differences between the land market and the existing homes market.
Online listings are an important part of any real estate marketing plan, and you should make use of all the available tools. When you market your property online you want to target people who are looking for lots and land. MLS usually is a first step for real estate agents when they get a new home listing, and it certainly should be part of any real estate marketing plan. Your understanding of your buyers and the market comes into play when you are preparing your listing. But you should keep in mind that MLS is focused on marketing existing built homes, and should not be the only online marketing tool used for your lot or land listings.
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