While it is quite common for a person to sell a home at some point in their life, it is much rarer to sell land that has no improvement. These differences are important to consider if you need to sell land, because the strategies for selling the two types of properties are quite different, especially if you need to know how to sell land. Quick.
Selling a house is not the same as selling land
Let’s think about some of the main differences between the two:
- Fewer people are looking to buy land than houses Land is not as popular as houses. That’s pretty obvious, as most real estate transactions are done by people looking for a place to live, not an investment or a place to build. This is important to keep in mind, because simply putting up a sign or posting a Craigslist ad is not enough – you may never be seen by someone looking for what you have to offer!
- How do you “show” the earth? Everyone knows what it means to show a home and it’s the basics that you do early in the selling process. But what about the land? Showing land is much less likely to cause a potential buyer to form an emotional connection to the property than if the property were a house, simply because it is easier to imagine living in the new place if the house actually exists.
- Harder to motivate agents The simple fact is that any piece of land would almost always be worth more if you had a house on it. Therefore, real estate agents will earn a lower commission for selling their land than for selling nearby properties with improvements. Now, of course, most agents try to do their best for their clients, but it would be difficult for anyone to completely fight the disincentive of a smaller paycheck.
Internet is your best friend
It’s no secret that a lot of real estate deals are done online, but how should you use this knowledge to quickly sell your land? Well, as we discussed earlier, the number of people actively looking to buy land is relatively small, so you need to get your property out to a wide audience. This is easy to do online, with free sites like Zillow and FSBO being great places to submit your property. However, there are also special online investor portals that allow you to put your property in front of the eyes of people who actually buy and sell land for a living. These people look at properties all the time and make their decisions on whether or not to buy based on specific criteria, so it is best to provide them with as much information as possible about your property. Often times, you can get an investor to bid you an offer site without being seen. This is how land is sold!
Where do you find these investor portals? You can Google terms like “sell land fast” and find plenty of land investors ready to take a look. Look for those who offer to cover the closing fees and pay you in cash.
Hope this was informative, and good luck selling your property!