You probably know that selling raw land is typically a more complex process than selling a developed property. When you sell a property with a building on it, the plot’s value is often determined by the building’s usage and worth. However, that’s not the case for vacant land parcels. Most buyers will want to research what they can accomplish with the land so that they can estimate its value before purchasing unimproved land.
At the same time, the buyer pool for undeveloped land is typically smaller than that for improved property. In light of this, if you’re looking for the fastest way to sell land, you’ll have to learn some unique tactics.
Here are the top hacks on how to sell vacant land and maximize your earning potential.
Make Sure the Land Looks Great
Getting your land ready before listing will make the selling process go much more smoothly. Your land won’t be appealing to buyers if it is overgrown, covered with weeds, or uncared for. This would also prevent potential buyers from envisioning what they could do with the property. So, simple tree trimming, grass cutting, and landscaping could easily increase the likelihood that it will sell quickly.
Give Potential Buyers the Information They Need
Make sure to conduct prior research on the land property and incorporate it in your presentation and land listing. Informed land buyers are more likely to make a decision, increasing the likelihood of selling your land quickly. This is because it eliminates the buyer’s need to research all of this information independently, which would only delay the sale of your land and possibly cause them to look at another listed property.
Consult the county in advance to gather all the information you’ll need to assure your buyer that your land property is a good fit for them. Make sure you are prepared to provide them with the accurate zoning information they require because most people will want to know what they can do with the vacant land property. Be prepared also to respond to inquiries about land usage and what’s feasible.
Try Land Auctions
An auction is often considered to be the fastest way to sell land. However, you should be prepared to sell the property at a significantly discounted price. The commission the auctioneer charges should be the main focus of your research because fees might range from 5% to 10%. The seller is the one who typically covers the charge; however, the buyer pays a premium occasionally.
Advertise to Your Social Media Friends
Selling your land to your network of connections has never been simpler, thanks to technology’s development of social media platforms. You may immediately advertise your property and schedule an open house on Facebook, Instagram, and even Twitter and reach a potentially lucrative market. If you want to advertise your listing to people in your area, consider running a sponsored marketing campaign. The price of the marketing campaign is reasonable, and it is unquestionably worthwhile, thanks to the advanced targeting capabilities.
Place Ads on the Internet and in the Newspaper
Ten years ago, the world was much slower-paced than it is today. Now, you have access to numerous platforms that may help you sell your land by showing it to potential buyers. That said, you’ll have to take appealing photographs of your vacant property, add descriptive text that includes any property’s unique characteristics currently available such as an existing structure or a body of water, and specify other important things like the size of the lot, property access, and utilities; it’s important that you give as much information as possible. Additionally, be ready to respond to inquiries regarding it and be available for showing the land to potential buyers. In addition to online marketing, make sure to post ads in your local newspaper too. Although often discounted, this strategy can be a successful way to market and sell your property.
Conduct Any Needed Testing Beforehand
Testing the property will help you get ahead of potential issues and give prospective buyers peace of mind. For instance, if you plan to sell the site as a potential residential development, thorough testing will inform you if a well can be drilled and sustain a septic system if the plot isn’t connected to municipal water and sewer services.
Price the Property Right
Pricing the property can make or break the sale. The fastest way to sell land is to determine a price based on recent sales of comparable lots. For instance, if the going rate for a similar parcel in your area is $2.50 to $3.50 per square foot, the price tag should be in this range if you want to locate buyers easily.
Contact the Adjacent Property Owners
Sometimes, the buyer could be just a few feet away. Ask the person who owns the adjacent property whether they plan on expanding their holdings. They might turn out to be your most likely buyers. And even if your neighbors aren’t planning to purchase the land, they might know someone who is.
Contact Active Land Investors or Builders in Your Area
While you can locate this information in a phone book, you can also speed up the procedure by visiting the building permit office in your city or county. When you go there, check for people who have applied for building permits on sites like yours, then give them a call. If they aren’t interested, they could know someone who is, just like your neighbors.
If all of this seems overwhelming, there is another tried-and-true method for selling your land quickly. Think about selling vacant land directly to a vacant land buyer if you want to spend less time and effort on marketing and negotiations.
At SimpleLandSelling, we buy land directly from you. Therefore, you won’t have to deal with middlemen, which makes the procedure slower and more complex. In addition, we cover all of the transaction fees related to buying your land. In other words, we cover your escrow, title, and all closing expenses. We acquire land as-is and pay cash for it. And since we don’t rely on bankers for financing, closings usually take place in as little as two weeks.