Selling land is much different than selling a house.
There are some fundamental key differences you should be aware of before putting it up for sale.
Do you have land you would like to sell in the Atlanta, Georgia area?
If so, it is wise to have a strategy in place to help you sell.
The strategy is quite different than selling a home in that you really need to convey the potential the land holds.
Of course, this happens with houses too, but with land, people really need to be able to use their imaginations.
Investors will want to see the potential as well as the value of the property over time.
Fewer Potential Buyers When Selling Land
The market for land is much different than for houses.
You simply will not come across as many people looking for land as you will find looking for a house.
This means you will need to get your land in front of the right people at the right time.
You will need a clever marketing strategy to make the location of your property really stand out.
What makes it so different from the property down the street?
What makes your land better than the rest?
Keep in mind who your buyers are and what they want.
Land buyers are looking for location, buildability, and future area development.
Make sure to highlight these things and be well versed for future building plans in the area.
These things can be used as huge selling points.
Different Marketing Strategies
You will want to have signage on the property detailing the specs of the land.
The size, the zoning and contact information are all things you will want to share.
Keep in mind that people will be driving by when they see your sign, so you will want to grab their attention without being too distracting.
Don’t put too much information, otherwise, your phone number will be lost in the mix.
Use eye-catching colors and choose colors that won’t fade too badly in the sun.
Seeing as your land might take some time to sell, those signs might be out there for a while.
You will also want to build an online presence for your property using social media and online listings.
Try to get a little creative when trying to sell your land online.
You might need to spend some cash upfront to have your property featured, otherwise, it might get lost with all the other lots that are currently for sale.
While it is still just land, you will want to showcase it at its best.
Prepare the land by clearing it as necessary and removing any trash, debris or structural remnants that might still be on the land.
Consider having professional photos taken to make the property stand out from other active land listings.
Work With Professional Buyers
Working with a professional buyer will save you a ton of time and money.
You won’t need to market the property or pay for online listings.
You won’t need to hire an agent or pay commissions.
You won’t need to wait around until a buyer is found.
If you want to sell to reinvest in something else or to get cash for your land quickly, working with a professional buyer is the way to go.
Breyer Home Buyers is a team of professional land buyers who know the ins and outs of land sales in Atlanta.
We will work with you to pay you a fair price for your land, making sure you receive a smooth and simple transaction.
Are you ready to sell a Atlanta lot? We can help! Send us a message or give us a call today! (423) 463-7269
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What to Expect: The Land Market & Why It’s Different
Selling a house in a changing real estate market can be challenging.
Selling dirt can be even more challenging…in any market.
In this article, we provide tools for landowners and real estate professionals about how to sell lots and land, and why your strategy with vacant residential land needs to be different from selling a home.
Many people expect the market dynamics for lots and land to be the same as the market for existing homes. They are not.
You’ll be better prepared to sell your home lot or land if you understand some of the differences between the land market and the existing homes market:
- Lot and Land Buyers are Different from Homebuyers – These groups of people have very different perspectives, desires, and needs. Homebuyers usually want move-in-ready, with granite countertops. Land buyers, whether individuals or developers are looking for the right location and an opportunity that lets them customize to fit their needs.
- Land Requires Different Sales Techniques – A home has a kitchen, bathrooms and a façade that can be visual and photogenic. You can hold an Open House for home and walk a buyer through each room to help make the sale. Buyers can easily visualize themselves in – and fall in love with – the built home. It’s just not the same for vacant residential lots and land.
- The Market for Land is Less Active – The market for existing homes is almost always more vibrant than the land market. There simply are fewer numbers of buyers for vacant land than consumers looking for homes. Start marketing a new home listing and a new lot listing when both are desirable and priced well, and you generally can expect fewer contacts about the new lot listing.
- Patience Required – Selling a lot or vacant land typically will take longer than a house. You have to be patient.
But don’t be discouraged.
Lot and land markets continue to heat up across the country.
And while some of these comparisons may seem disheartening, people successfully sell lots and land every day.
We’re here to help.
What to Do: Steps to Take When Selling Land
While we have noted that there are many differences when selling land, at the same time the concepts are similar to selling a home.
You just need to tailor your strategy, tools and focus for selling this type of property.
Understand Who Your Buyer Will Be & What They Need to Know
When selling a home you know your target market typically is a home buyer in a certain price range.
But when selling vacant land you must evaluate who your likely buyers will be among many other factors.
Your buyer profile can depend on what type of property you are selling, whether the land has been developed already, its location and market conditions, among other criteria.
Is your likely buyer an individual looking for a lot for a new home?
Or is your buyer going to be a builder or developer looking for land for their next project?
Or is your buyer some combination of those, or someone different altogether?
There may be different buyers for finished lots, rural acreage or a parcel of suburban land in a thriving new home market.
After identifying your likely buyers, try to think like them so you can focus your message to convey what they need to know about your property.
Have information ready about schools, shopping, and other nearby amenities.
For developable land, you can be prepared with zoning information and insight from local authorities about the location and capacity of water and sewer service.
Each property is different, so customize your information for your situation and your targeted buyers.
If you don’t know these details, then do some research.
When you are prepared and knowledgeable about your lot or land you can make the process easier for potential buyers and inspire faith with solid answers to their questions.
Have the Land Ready to Sell
First impressions are lasting in real estate.
When selling a home you would never leave out your dirty laundry for potential buyers to see, and you should also clean up your lot before it is shown and marketed.
Cut the grass (or weeds), remove trash and take marketing photos of your property when it is looking its best.
Some sellers even plant wildflowers to make their vacant land look beautiful.
It’s like staging a home, but you’re just working with raw land instead.
Also, consider having a survey done in advance and mark your property boundaries.
For home lots, show setbacks on the survey too.
This will provide useful information and help buyers see the potential in a property to encourage a sale.
Choose Your Price Carefully
Pricing can determine your success in attracting potential buyers, and pricing your lot or land too high is one of the biggest mistakes that sellers make…and regret.
The wrong price will both scare away buyers from even inquiring about your property, and will cause your property to take longer to sell.
Pricing land can be trickier when compared to pricing a home.
Developed lots in communities may have a clear “market” price based on the recent sale of similar lots.
Raw land, however, may have fewer “comparable” sales to use in determining your price.
In addition, the price you ultimately can attract for a singular lot or undeveloped land can vary greatly depending on the buyer’s intended use of the property.
For example, if a buyer feels that your acreage is appropriate for a high-end home development it likely will bring a higher price per acre than if a buyer only intends to build a single home on it.
Consider your own needs when pricing, and understand how pricing could impact buyers’ interest.
When selling real estate, you sometimes have to choose between getting the highest price and possibly selling quicker.
Plus, your pricing may be influenced if you need to sell for financial reasons.
In addition to your own situation, pricing your property ultimately requires an understanding of the land market as a whole, why people are buying lots or land in that area and who these people are.
A good real estate agent with land expertise can help greatly in this process.
Offer Seller Financing When Selling Your Land
The lending market for vacant lots and land still is difficult, so many buyers have trouble getting financing.
You should have a larger pool of potential buyers if you are able to offer some type of owner carry or financing.
Use Online Listings Targeted to Lot & Land Buyers
It’s probably obvious that you market a home to homebuyers.
It follows that you should market your lot or land directly to lot and land buyers.
Online listings are an important part of any real estate marketing plan, and you should make use of all the available tools.
When you market your property online you want to target people who are looking for lots and land.
MLS usually is the first step for real estate agents when they get a new home listing, and it certainly should be part of any real estate marketing plan.
Make sure that you explore how to sell land online for free.
Your understanding of your buyers and the market comes into play when you are preparing your listing.
Craft your message in your listing to provide the information that your likely buyers need.
Show Your Property At Its Best
It can be challenging to market vacant residential lots and land because there is no move-in-ready home.
Homes are visual, convey a sense of place and evoke emotional responses from buyers.
But there is no house for an Open House when selling lots and land.
Be sure to use visual tools to tell the story of your lot or land in your online listing in a beautiful and compelling way.
You can’t show photos of a kitchen or great room, so be creative with your lot or land photographs.
Use attractive photos of the home site, natural features of the land, the view from your property and even community amenities (see tips for creating great photos for lot and land listings).
Use maps and surveys to show the property boundaries and where it is located.
Learn more in our related article about 7 tips for selling lots or land with online listings.
And although it may not be the same as an Open House, you always should offer to “walk the property” with a potential buyer.
You can show them the property lines and tour things like the neighborhood pool or walking trails.
Use this opportunity to strategically point out the positive aspects and minimize the negative aspects.
Tell the Story With Your Sign
In addition to online listings that target lot and land buyers, effective property signs always should be part of your marketing plan.
Don’t just use a standard “For Sale” sign; we suggest that you have a sign custom-made for selling your lot or land (which can be done relatively inexpensively these days).
You can help tell the story with your custom signs by including a few key points like acreage and property features.
The sign(s) should be located for visibility, look professional and be kept clean and upright.
Talk With the Neighbors
Try some focused marketing strategies too.
When selling a home you typically would not go to the adjacent homeowner to see if they want to buy your house, but when selling a lot or land the adjacent property owner often can be one of your best opportunities for finding a buyer.
Give the neighbor a call – they may want to buy your land for an extra buffer, to add to their property holdings or just to control what is built next door.
Another strategy is to directly contact active builders in the area to see if they are interested in your property.
Sell Your Land For Cash to an Investor
You can skip all of this and just be done with the property.
When you sell to Breyer Home Buyers, you will have an offer within 24 hours and we can close in 14 days.
You don’t have to market, find a Realtor, pay commissions, have people back out of the deal, or worry about anything.
Call us today and get a no-obligation offer on your property.