This will provide useful information and help buyers see the potential in a property to encourage a sale. For home lots, show setbacks on the survey too. It’s like staging a home, but you’re just working with raw land instead.Īlso consider having a survey done in advance and mark your property boundaries. Some sellers even plant wildflowers to make their vacant land look beautiful. Cut the grass (or weeds), remove trash and take marketing photos of your property when it is looking its best. 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. Have the Land Readyįirst impressions are lasting in real estate. 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. If you don’t know these details, then do some research. Each property is different, so customize your information for your situation and your targeted buyers. 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. Have information ready about schools, shopping and other nearby amenities. 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.Īfter 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. 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. But when selling vacant land you must evaluate who your likely buyers will be among many other factors. When selling a home you know your target market typically is a home buyer in a certain price range. Understand Who Your Buyer Will Be & What They Need to Know You just need to tailor your strategy, tools and focus for selling this type of property. While we have noted that there are many differences when selling land, at the same time the concepts are similar to selling a home. What to Do: Steps to Take to Sell Your Lot or Land And while some of these comparisons may seem disheartening, people successfully sell lots and land every day. Lot and land markets continue to heat up across the country. You have to be patient.īut don’t be discouraged. Patience Required – Selling a lot or vacant land typically will take longer than a house.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. There simply are fewer numbers of buyers for vacant land than consumers looking for homes. Market for Land is Less Active – The market for existing homes is almost always more vibrant than the land market.It’s just not the same for vacant residential lots and land. Buyers can easily visualize themselves in – and fall in love with – the built home. You can hold an Open House for a home and walk a buyer through each room to help make the sale. Land Requires Different Sales Techniques – A home has a kitchen, bathrooms and a façade that can be visual and photogenic.Land buyers, whether individuals or developers, are looking for the right location and an opportunity that lets them customize to fit their needs. Homebuyers usually want move-in-ready, with granite countertops. Lot and Land Buyers are Different from Homebuyers – These groups of people have very different perspectives, desires and needs.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:
Many people expect the market dynamics for lots and land to be the same as the market for existing homes.
What to Expect: The Land Market & Why It’s Different
#WHY THERE ARE LOTS OF HOME FOR SALES NOW HOW TO#
It’s important to equip yourself with the right information on how to sell lots and land and why your strategy with vacant residential land needs to be different from selling a home. Selling dirt can be even more challenging…in any market. Selling a house in a changing real estate market can be challenging.
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