If I were to sell my land myself, I would first identify its category before applying the expert selling tactics provided by a real estate professional. If I were to cut unnecessary expenses, I would instead depend on a reliable internet source and identify techniques that would help me sell my land with utmost ease. In this particular article, I would offer secret tips for selling raw land.
Selling raw land
The Four Principles of Selling Raw Land:
1) It is a Different Deal – Buyers who are interested in raw lands or vacant plots have different tastes, desires and requirements than those who wish to buy existing homes. These buyers seek a suitable location and the ability to customize the raw plot as per their needs.
2) The Selling Techniques – Secondly, selling a raw piece of land is very different from selling a ‘built-up’ and ‘ready-to-move-in’ house. While you can attract a buyer by showing him images of your ‘ready-to-move-in’ home, raw land offers no such appeal.
3) Slow Market – There are not many buyers involved in raw land deals. Even if you are marketing your vacant plot like a true professional, the number of queries cannot match the volume that a novice home-seller can bring into his kitty.
4) Patience is the Key – Like it or not, you need to be very patient as selling raw land takes longer than selling a house.
The 5 Killer Tips I Always Use to Sell My Land Myself
1) Understand Your Buyer – Even before listing your vacant plot, you need to identify the buyer. You need to know whether the interested party would be an individual, a builder, a real estate developer or a different entity altogether. Depending on your land type (suburban, rural or a completed lot), you need to determine the information that you would like to share with your identified buyer. Provide details on the civic amenities, schools, hospitals, sporting facilities, water supply and markets, close to your land. The information you provide to your prospective buyers should be specific to your land type and its location.
2) Prepare Your Land and Finalize the Price – Remove all negative signs from your raw land. These include trash, weeds and waste material. Instead, plant beautiful flowers to make it appear attractive and click photos of your raw land only when it looks its best. Get a survey conducted by a professional to mark your property boundaries. Thereafter, select a suitable price for your plot, which should neither be too high nor too low. Unlike developed homes that have a clear pricing structure, raw land does not have clear pricing, owing to low sales and demand. Understanding your land market before deciding to sell it off is a great way to determine a suitable price for your land.
3) List Your Property Online and Offer Attractive Finance Schemes – Rather than advertising your raw land to home buyers, narrow down your buyer category and select only those that are interested in purchasing lots and raw land. Use the internet to target individuals, home owners, builders, developers and investors, who may be interested in your land. Try and contact as many potential buyers as possible and speak with a few banks to help interested buyers get a suitable financing scheme. Kindly note – financing raw land purchases is a daunting task.
4) Spread the Word and Use Legible Signboards – When you are selling a raw piece of land, it is always a good idea to ask your neighbor if he is interested. Neighbors usually wish to have greater holding, more area for their business purpose (for example, they need more land for their cattle) or simply because they wish to have more control over your area. Regardless of the reason, always speak to your neighbor and find out if he is interested in purchasing your land. Alternatively, get custom made property signs highlighting the prime features of your property. Place such signs close to your property and in areas that are frequently visited by the locals of your area.
5) Get Professional Help – You should not only seek the help of a real estate agent involved in selling raw land, you could also hire a professional photographer to click attractive images of your vacant plot. Whenever you get potential buyers, always offer to walk them around your property, so that they get a first hand feel of your plot.
By following the above mentioned techniques, you should be able to find a suitable buyer for your land.