Without a real estate agent, it can be a challenge to sell land. With a little research and work, however, you can save a lot of money doing things on your own. In fact, the return on your investment can be extremely lucrative and rewarding.
Selling A Home Vs. Selling Land
Most people are familiar with the process of selling a home. You make sure it’s clean and staged for showing as you plan an open house for potential buyers. However, selling land is much different than selling a house.
Different Buyers
It’s important to distinguish the buyer you’re selling to. People who purchase land and those who buy a house have different needs and goals. That’s why it’s important to take into account the vision a land buyer has in order to present your property in the best light possible. Whether it’s a developer or an individual planning to build a home, buyers are most interested in the land’s location. This means they are looking for the right area and the ability to do what they want with the land.
As a land seller, you will find far fewer people interested in buying land than a home. Despite the ability to build a custom home, it can be a long and costly venture for those willing to undertake the challenge.
Land Uses Can Vary
Zoning regulations determined by local county and city laws will be the deciding factor of what your land can be used for. Therefore, this will further limit those interested in buying it. If your property is zoned for residential use, there can be stipulations on what kind of home can be built there. If your land is zoned for commercial use, you will be limited to business only prospects.
To verify the zoning regulations for your property, it’s important to visit your local planning or building department to locate your specific parcel. It’s important to note that potential buyers will want this information before purchasing the land.
Pricing Land
It can be a lot harder to price land than it is a house. This is because land is harder to appraise, and potential buyers have fewer features to consider. Before you set a price, it’s important to take into account the following elements:
- Zoning limits
- Buildable acres
- Natural features
- Pre-existing buildings
- Public access
- Utility development
Most potential buyers will consider these factors when determining how much the land will actually cost them. That’s why it’s important to make sure you’ve done your research, so you have all the answers when they inquire about your land.
Land For Sale By Owner Techniques
Selling land without a realtor is much different than selling a house. Instead of an open house where you walk potential buyers through a home, you depend on the vision buyers have of your property and what they can do with it. That’s why we’d like to provide you with the following techniques you can do on your own without having to hire a realtor.
Contact Local Developers & Builders
If your land is zoned for residential use, local developers and builders might be interested in buying it. In fact, they may have potential clients looking to build a home, or they might be interested in purchasing the land for future use.
However, local developers and builders are experts when it comes to buying land. That’s why you should expect to answer all their questions with due diligence. Keep in mind that any issues they bring up will be good to know if you plan to talk with other prospective buyers.
List Your Land Online & Use Social Media
Nearby neighbors of your land can be potential buyers, as they might want to expand their property. Therefore, you should take advantage of social media platforms like Facebook to share your online listing using specialty sites like LandResellers.com. Adding lots of information and photos to your listing will further entice potential buyers to contact you regarding the sale of your land.
Post A “For Sale By Owner” Sign
This is a tried and true technique when it comes to selling land without a realtor. That’s because people interested in buying land often drive around to see what’s available in your area. Take the time to create an attractive sign that includes your contact information as well as key features of your property. While you can always include the price to attract potential buyers, you can also post a sign without it to negotiate those details later.
Host An Open House
Just because you’re not selling a house doesn’t mean you can’t host an open house to potential buyers. Conducting a personal tour of your property allows you to highlight your land’s best features and possible uses. This will help potential buyers to visualize owning your property and what they can do with it. If you decide to go this route, make sure your land is as clean and visually appealing as possible. This involves removing of any trash or debris while making sure to mow any overgrown grass or weeds.
Land Resellers
Selling land without a realtor can be challenging, but it’s not impossible. By putting in a little extra work, you can generate interest with potential buyers and maximize potential profits. Ready to get started? List your land on LandResellers.com. With detail-rich listings, you can share important information like land type, location, acreage, price, and other specifications on your own. As a prominent real estate network, we make the process of posting and browsing land listings easy in all 50 states!