By now, you probably know that selling land is over ten times more difficult than selling a home. There’s a limited market for it, and when it comes to vacant plots of land, there isn’t really a lot you can leverage as the main selling point. Compared to selling a home that’s fully built and ready for occupancy that can be sold in a matter of weeks, parcels of land can stay in the market for longer than 72 days.
But that doesn’t mean it’s close to impossible to sell your land — you just need to approach it the right way. The first step is uncovering possible reasons your land isn’t selling. Here are some common scenarios:
- Your pricing is not right
- You’re putting your land listings in the wrong place
- You’re not reaching the right people
- Your land needs to be maintained or improved
- There’s an issue with the land title
- The location of your land isn’t ideal
If any of these sounds about right, don’t worry. There are still proven solutions that can help you make a sale and liquidate your vacant land. Here are some tried-and-tested tips for you to incorporate into your game plan.
Proven Solutions and Tips to Sell Your Land
1. Revisit Your Marketing
Real estate and proper marketing go hand in hand. And in today’s digital age, simply putting up a “for sale” sign on your property is not going to cut it. The National Association of Realtors revealed that 95% of real estate buyers begin their search online, which means you need to be present where they’re looking.
Look for the top land listing sites in your area and post details about your property. Make sure to include high-quality photos, as well as complete details about your land in the description. This will make your listing more compelling and dynamic, increasing your chances of attracting interested buyers.
2. Build a Buyers List
You need to conduct targeted and streamlined efforts to sell your land — and that includes targeting the right people who are actually interested in purchasing your property. Do your research and build a list of only potential buyers. Targeting your marketing efforts to them will save you crucial time and resources and help you find your buyers more efficiently.
3. Hire a Land Specialist
You might have hired a real estate agent to help you sell your land. But because land selling is a completely different ballgame, an average realtor might not have the experience and skills needed for the job. We recommend engaging an accredited land specialist instead, or otherwise, a realtor with a track record of selling parcels of land.
4. Be Transparent to Potential Buyers
Sellers have a tendency to hide their property’s imperfections and undesirable traits. But maybe you have to change your mindset and embrace them instead. Be transparent to your buyers about any issues your land may have — they’re going to find out in the land surveying report or environmental test anyway.
Being honest makes a good impression on potential buyers, not to mention that it helps you find the right people who are actually interested in your property — with its imperfections and all.
5. Improve the Curb Appeal of Your Property
When putting a house out in the market, sellers conduct a whole process of cleaning, staging, and making sure that the home is presentable from the inside out. Just because your land is empty doesn’t mean that you can’t improve it.
Simple things like cutting the grass, getting rid of clutter, and cleaning structures and corners can make a big difference in improving its curb appeal. Remember that first impressions count too when it comes to selling land.
6. Make Land Improvements
Contrary to popular belief, there are certain improvements you can make to your vacant land to make it more appealing to potential buyers. These include setting up basic utilities or creating access roads. Taking the initiative to make basic improvements will take the burden off your buyers’ shoulders, giving you leverage over other bare parcels of land in the market.
7. Resolve Title Issues
Problems with the land title are headaches for homebuyers, so they tend to avoid properties with a dirty title riddled with disputes. Before putting your land out for sale, take the initiative to resolve all title issues and make your ownership of it clear.
8. Make Sure You’re Pricing Right
When setting a price for vacant parcels of land, you need to do your due diligence. Conduct comprehensive research on the fair market value of your land by getting a valuation or taking a look at the prices of other similar pieces of property in your area.
9. Offer Financing
Compared to getting approved for a home loan, it’s more difficult for buyers to secure financing for a vacant parcel of land. By offering owner financing options, you can increase your buyer pool — not to mention benefit from being able to control your payment terms and revenue.
Sell Your Land Fast to Slate Land Buyers
Selling land can be difficult, overwhelming, and time-consuming. But the good news is that there are easier routes you can take to liquidate your real estate asset. We are land specialists who purchase vacant parcels of land directly from sellers. Our process is simple — just tell us about your property and we’ll give you an all-cash offer in writing within 72 hours!
Sell your land fast to Slate Land Buyers. Get an offer today.