People struggle with selling land that hasn’t been developed due to many reasons. The land could be located out of town in a place that is not easily accessible. Which means they will have to travel long distances to see your land. A potential buyer might also consider the cost and time it would take to build on that land and decide not to go ahead with the investment. Others might have heard myths about investing in land which stops them from actually doing it. It is more difficult to sell bare land than the existing property.
If you want to know how to sell land in Kenya, these tips will help you know what to do to gain more visibility to make that sale.
Come Up With a Price
To come up with the right price, the best thing to do is find a real estate professional who will help with valuation. You might set a price on your own which could be too high or low and is not in line with the market prices.
Another way of going about is to speak to a real estate agent who can advise you on pricing your land according to how other people in that area are selling their land. Many people make these selling land mistakes by not doing the basic groundwork and end up getting frustrated when it doesn’t sell.
Prepare the Land
Before you decide to invite potential buyers to see your land, you need to make it look presentable. Overgrown grass, weeds and vegetation are an eyesore which could make it hard for someone to see the beauty and value of what you are trying to sell to them. In turn, you could be forced to lower your selling price because the buyers might ask for a discounted price.
To avoid this from happening, always prepare the land and make it look presentable before you show it to potential buyers. Cut any overgrown grass, trees and weeds. Clear out any garbage or items that should not be on the vacant land. Once you do this, create walking paths for people to get a 360 degrees view of the entire place.
Advertise on Listing Sites
People use the internet to find anything and everything. The same goes for property. They will want to see photos of what you are selling before they visit the actual place where the land is located. So, you want to gain as much visibility as you can on your land. What better way to do this than to advertise online?
Before you post your listing, ensure that you take good photos of the land. Another important part people don’t take much time on is crafting a proper description. Giving buyers all the details will make the sale go faster.
Once you advertise on the listing site, the work doesn’t stop there. You need to be proactive. When your phone rings, answer it. You never know if that’s the call you’ve been waiting for. When you get leads from the advertisement, call back immediately. Stay prepared to answer questions on the spot.
After initial communication, always follow up to make sure they have all the information they need to make an informed decision. Most sellers will take a no and move on. And this is where they go wrong. Following up with a potential buyer could be the reason why you make a sale.
Research on the Surrounding Areas
Buyers will want to know more about your vacant land and the surrounding areas. To make yourself stand out from the other sellers, do some research on the availability of water and electricity (if they are not there). Find out about the local amenities, if it is possible to subdivide the land, sewerage solutions, and many more. These might seem like issues the buyer will handle on their own but they will appreciate the extra effort you took.
Create a Floor Plan
When you are selling land, the buyer might find it difficult to envision how the place will look like once they build. Why not make it easier for them by coming up a sample floor plan? This way, the real estate agent can market the area by saying it will be built once the sale is made.
Set a Convenient Payment Plan
People might not have the full amount to make the payment to buy the land. That is why, if you are in a position to do so, you can come up with a payment plan where they pay in instalments with an interest fee. Remember to state this in your marketing collateral. It will attract more potential buyers and move you closer to making a sale.
There are certain areas where people are choosing to buy land as groups or individuals. If you are in these places, good for you. However, if your property is isolated in a rural town, consider using these tips to help you make that much-needed sale.