There are 2.3 billion acres of land in the United States. That’s a whole lot of terra firma we’ve got laying around!
Are you lucky enough to own a small slice of it? Well, sooner or later, there’s a chance you’ll want to sell some (or all) of it off. After all, selling land is a great way to make good money from something you may have no interest in whatsoever.
Even better, you can do it without getting any professional support. Compared to selling a house, selling land without a realtor is relatively straightforward. With the right approach, you can part with your property and save yourself some money at the same time.
Sound good? Let us help! Keep reading for 7 top tips for selling land by yourself.
1. Understand the Market
Selling anything is easier when you understand your target audience.
After all, you appreciate who they are and what they want/need. You can then market your product (in this case, your land) more effectively, putting it in the right places and in front of the right people.
Unfortunately, many individuals who try to sell land confuse land and home buyers. They wrongly assume that both groups of people want the same thing.
The reality’s far different, which has a significant impact on the sales process itself.
Buying land’s all about location, access to infrastructure, and the chance to create your very own property from scratch. That’s a world apart from someone who wants a house that’s ready to move into! Efforts to sell land to the latter will almost certainly prove fruitless.
2. Focus Your Message
Have a think about who exactly might want your land.
Here are some factors to consider: its location, proximity to schools and shopping centers, the possibility of development, and the popularity of the surrounding area.
These factors should help you settle on an accurate buyer persona.
Your lot might be perfectly-suited to an affluent middle-aged couple looking to build their forever home. Alternatively, it could be an unmissable opportunity for a large-scale developer looking for a new project. It might be a versatile patch of land that’d be fit for anybody- no matter their needs!
Whatever the case, establishing your target customer will be an almighty help. It means you can set about cultivating relevant listings with the information they’d want/need.
3. Research Your Lot
Before you can do any of that, though, you may need to learn more about the lot itself.
For one thing, it’s hard to sell something that you know nothing about! Yet it’s sure to make the process of establishing a buyer persona easier too.
Indeed, you might not know much about the neighborhood, the lot’s proximity to local amenities, or the nearby transport links. You might lack the zoning information that developers will want to know. And so on.
Doing some research will help alleviate your ignorance. Once again, put yourself into the shoes of a would-be buyer. Think about the information they might want to know about and proceed accordingly.
Everything from describing the lot in listings to fielding questions from interested parties will be simpler as a result.
4. Give Yourself Time (Be Patient!)
Another key difference between selling land and houses is the time it takes to do.
Sadly, fewer people want to buy land than pre-built homes. The market for houses is simply hotter than it is for lots. That’s especially true in America, where a paucity of properties drives demand.
The result? Expect the process of selling your land to take longer than you might like!
Alas, it’s difficult to give a precise estimate of the time it’ll take. We’d need to know more about your lot, including its size and location. Lacking that, any predictions would be inaccurate at best and misleading at worst.
Rest assured, though, your land will sell eventually. You just might receive a lesson in patience beforehand!
5. Speak to the Neighbors
Want a quick tip that could speed up the process?
Offer the lot to your neighbors! You never know, they might be all too willing to take it off your hands. Indeed, the chance to extend their property will probably seem quite compelling.
They’d have more space to call their own and take control of the land in the process. Better still, they wouldn’t have to worry about disruptive developers or noisy new neighbors buying it up anymore.
Speaking to your friends and family can be useful for similar reasons. Your mother, brother, aunt, cousin, or best friend might love the opportunity to buy your lot. The only way to find out is to ask!
6. Know That Looks Are Important
Whether you’re selling land online or in person, it’ll sell far sooner if it looks its best.
Why? Because people are shallow! We judge books by their cover and assign instant value judgments based on appearance alone.
Keep that in mind as you put the lot on the market. Mow the grass, clear away any debris, trim the hedges, and plant some flowers. In other words, do what you can do enhance the aesthetic appeal of your plot!
It might seem excessive. Yet you’re sure to enjoy more interest from people passing by and/or seeing photos of it online.
7. Set a Fair Price
Pricing your land is arguably the most important part of the sales process.
It’s a tricky balance to strike. Going too high will dissuade many would-be buyers from making an offer. But the last thing you want is to walk away with less money than it’s worth.
If you’re lucky, there’ll be comparable lots being sold in the area. You can then look at how much they’re selling for and assign a similar price tag to yours.
Time to Start Selling Land Without a Realtor
Looking to sell off some land that you own? It’s probably tempting to call the professionals for help!
But wait for a second! It’s always worth considering the alternative. Selling land without a realtor is more than feasible than you might think. Even better, you’d save some serious cash at the same time. Hopefully, the tips in this post will help you do it.
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