Any person who owns undeveloped or raw land can tell you how hard it is to actually sell it compared to selling existing property. This is because it is bare land which makes it difficult for potential buyers to visualize the property’s potential and see its value.
There are common mistakes landowners make which prevent them from selling faster. Read on to learn if you are guilty of making these selling land mistakes and how to correct them.
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Taking Bad Photos
Look for a professional photographer to take different angles of your land, an aerial photo as well as the surrounding areas.
Overpricing your Land
No one wants to pay for anything overpriced. The same applies in real estate. If you don’t know what the market prices are, you end up asking for a huge amount which turns off potential buyers even before they see your property. Overpriced land will take longer to sell.
Do proper research on the trends and market prices before you decide how much to sell your property for. As you are researching, you will discover other tips on selling your land faster.
Using an Agent That Sells Home
An agent who sells houses uses different strategies to get buyers from the ones who sell undeveloped land. Also, the people who want to buy houses are not the same as the ones looking for raw land. They all have different needs, therefore it wouldn’t make sense to use the same type of agent.
If you are not in a position to sell land on your own and you’re looking for an agent to make the process move faster, find an agent that specializes in selling land.
Not Marketing Your Property
Attempting to sell your undeveloped land without an agent is hard. You don’t have the connections or market knowledge they do.
If you can’t afford to get one, the next best solution is to use a reputable listing company that will get your land in front of a wide pool of potential buyers. You will be able to get a detailed report that tracks the number of leads and people viewing your listing.
Not Being Proactive
There are other people who are also trying to sell their land in various parts of the country. When someone makes an inquiry on your piece of land, they expect to hear from you as soon as possible if not immediately. You could lose them to your competitor just by not returning a call. They will assume that you are not a serious seller. Another mistake people make is not having the right information at their fingertips when people call to ask questions.
When you get a lead, act on it immediately. Don’t wait to return calls after a day or two. If you have a real estate agent helping you sell, give out their contact information so that if you are unavailable, they can answer calls on your behalf.
Investing in property is an emotional decision. You should make the process easier for your potential buyers. Don’t try and force them to buy just so that you can close a sale.