Do you own a piece of vacant land that you want to sell? It’s an excellent opportunity for profit, but it’s vital to do things right for the project to be successful. That’s why we consulted experts who shared tips about speeding up the sale and maximizing your earnings.
Here is what you should know when selling vacant land!
1. Learn All Property Details
If you have land for sale, the primary priority is to learn any relevant details about it. Your first step should be analyzing the zoning in the property’s area. The zoning codes could affect the overall land cost and allow a price increase.
Other things to discover include possible tax relief, connection to public water lines, natural resources like minerals. Think about the questions that customers could ask and prepare answers.
2. Don’t Ignore the Curb Appeal
The fact that you’re selling land doesn’t mean you should forget about its curb appeal. What property would be more attractive – the one with overgrown bushes, or one where you see a beautiful fence and flowers?
Decorating the land doesn’t have to be expensive or a lot of work. A couple of fixes here and there should be sufficient to make it more attractive for the buyer.
3. The Importance of Pricing
It’s an art to find an optimal price for any property. Vacant land is no different, which is why you should aim to identify the right balance. If the cost is too high, not a single buyer will contact you. But if you don’t set an adequate price, you are missing an opportunity to maximize the profit.
You could try checking the cost of the nearby properties with similar characteristics. Also, a professional agent can help you to analyze the market and set the right price.
4. List the Land Wherever Possible
You don’t have to stick to a single website when listing land properties. Instead, you are welcome to publish it in multiple lists where you can sell land online to attract more buyers. Don’t forget the importance of local listings because that’s where buyers interested in a particular area would look for first.
5. It’s All About the Photos
Your land listing should be of the best quality possible. Apart from a detailed description, make sure to add HD photos. You can use a modern mobile phone, but how about taking it a step further? For example, a shot from the air with a drone, or even a virtual tour could provide more value for a potential buyer.
6. Talk to the Neighbors
You have multiple reasons to talk to the neighbors. For starters, you’ll earn more about the area. It also helps to have a friendly face around if you bring a buyer. Additionally, the neighbors might be willing to show the place if you are not in a position to do it on a given day.
It might even be possible to discuss buying their land, especially if it’s next to your property. And even if someone is buying their land, perhaps they’d be interested in purchasing yours, too.
7. Is There a Developer around?
Did you notice a company constructing a building nearby? You should consider contacting investors and land developers who would be interested in doing business in that area. They might be a potential buyer, and if your land is in a convenient location, you could complete the entire project quickly.
8. The Importance of Patience
It’s vital to do everything in your power when selling vacant land. You should explore all options and keep finding new listings and potential buyers. Whether you contact farmers, developers, or other parties, make sure to stay persistent.
Every selling project takes time, and selling land is no exception. However, as long as you put in maximum effort and stick to these tips, we are confident the project will be successful!
Skylar Ross is a writer for Land.us who specializes in topics related to land management, property investment, and real estate. He focuses on helping current and prospective landowners care for their land, discover investment opportunities, and be successful in land brokerage deals.