They aren't making any more land, so that makes it a good investment. If you've been holding your land for a while and you're ready to cash in, there are some things you can do.
Many people want to go through the process by doing a vacant land for sale by owner listing vs. hiring a real estate agent. While it is possible to do this, you need to know how to get your land ready and how to get people to buy.
Continue reading this article to learn the best tips for selling vacant land.
Why Selling Land Is Different Than Selling a House
If you go into the process thinking land buyers are the same as homebuyers, you're going to be disappointed. The people who buy land have a very different thought process, needs, and wish list.
When you're selling a house, you have to have everything ready for the homebuyer, if you want to get the best price. On the other hand, land buyers are looking for the right location and the ability to create something that is all their own.
A couple of other things to think about are that the land market isn't as active as the home market, it requires different sales techniques, and you're going to have to wait a while for the sale in most cases. These are things you need to be prepared for when you're selling land on your own.
When Is the Best Time to Sell Land
If you've ever bought or sold a house before, you know there are good and bad times to put it on the market. Well, the same goes for land and even more so because if you decide to sell in the winter, there is no cozy home to run into to talk terms.
Spring and Summer are by far the best times to sell your land. When you sell in the Spring, it's your best opportunity to get the most money out of your land. There probably won't be a lot of other listing up at that point, but also, people want to move quickly to be able to use their land during the Summer months.
If you sell land property in the Summer, keep in mind that you are going to have more competition than if you list early in the Spring. If your land is ready early Spring, it's best to go ahead and list it and not wait until Summer.
Preparing Your Land
When you're selling a home, you'll prepare the land by painting generic colors, fixing up broken bits here and there, and making sure the curb appeal is at its max. When you're preparing land, it's a little different.
Keep in mind that first impressions are going to stick with your buyer. Don't take anyone near your land until you're ready to sell it.
Before listing it, cut the grass, remove any trash, and get ready to take photos. When you're taking listing photos, you want to be sure it's a nicely lit day, so you can showcase your property in the best light possible.
To make it even easier for potential buyers to take the plunge, you can do a land survey, so you can mark your property boundaries.
Creating Your Listing
Once you have your land ready and photos taken, it's time to put your land real estate out there for everyone to see. If you want to reach the most buyers, you need to have your land listed online.
Listing your land online will make it easy for people to search for your land even if they aren't in the local area. There are plenty of land buyers that are out of state and want to see what is available. You need to design your online listing in a way that will draw them in and make them want to buy.
When you post your listing, you have to be very descriptive of the land. Yes, you have photos, but you can use the text in the listing to point out important nuances of the land.
They might not be able to tell that the area that would be the front of the property looks at the sunrise or sunset, etc. Give them a good idea of what they are going to get before they even make it out to see it.
When you post the photos of your land, put the most impressive part of the land as the feature photo. If the view is the most impressive part, you can use a photo you took from where the house would go and how the view would look from a window.
You also need to price your land properly. If you're willing to sit on it for a while, you can price it for what you want to get out of it. On the other hand, if you need money now, price the land low enough that it is going to get the buyer's attention.
Talking to Potential Buyers
Once your listing is up, and people are calling you about your land, you need to give them a reason to buy. A pretty view and a great location only get you so far.
When you're talking to the potential new owner, you should give them an idea of the benefits of living there. Paint a picture of how the land is going to allow them to get the location they want and craft your presentation around what they told you they wanted.
How to Prepare Vacant Land for Sale By Owner - Now You Know
Now you have the information you need to prepare your vacant land for sale by owner. Preparing and marketing your land in a way that is going to get attention and make buyers comfortable is key. Land ho!
Now you have everything you need to succeed for property development. If you need help with other real estate topics, we are glad to help leveraging land and profitable properties. Continue reading our property management blog posts for more tips and tricks in the Real Estate section of the Bootstrap Business Blog.
