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How to Find the Ideal Land Buyer – How to Sell Land

On April 23, 2018 /

Finding The Ideal Land Buyer

When it comes to selling land quickly, and for the best price, the key is targeting the right audience. Selling land is much different than selling a home, and it involves a different selling strategy. The most important part of selling your land is finding the perfect land buyer, so we’ve done some research and put together some important things you need to know about finding the ideal buyer for your land

How to Sell Your Land

Understand The Market And The Buyers

People who buy land are different than people who buy houses, and you’ll have to understand the differences in order to target them effectively. The profile of your buyer will vary greatly depending on what type of land you’re selling. The zoning restrictions for your lot will also play a big part in what types of buyers are looking at your property. Some buyers are looking for land to build a house on, while others have dreams of using the space for farming or commercial purposes. The location and the development of the land will tell you a lot about it’s potential, which will, in turn, give you an idea of what types of buyers will be most interested in your lot. Marketing to real estate developers is different than selling to farmers or families looking to build. Understanding your buyers is the first step in finding the right one.

Set The Stage to Sell Your Land

Once you understand who will be buying the lot and why it’s time to prepare the lot to be as appealing to your potential buyers as possible. You only get one shot to make a first impression, so do whatever it takes to make a good one. Cut the grass, pick up trash, make the lot look presentable, so buyers aren’t distracted by debris. Consider getting a survey done and marking the boundary lines so buyers can get a better idea of where the land starts and ends.

Develop Your Marketing Plan

Once you know who your target audience is and have prepared the lot to suit them, it’s time to get the word out. If you are selling rural land that doesn’t see a lot of traffic, you’ll have to do more than put a for sale sign in the yard. List your land on sites that specialize in selling land. Listing on sites that focus on selling houses could be useful, but most people who are on those sites are looking for lots with homes already on them. Land buyers look at specific websites to find vacant land, so that’s where your advertising should start.

Pick The Price

Pricing your land right is one of the best ways to find an interested buyer. Setting a price that is too high is a common mistake many sellers make and regret. A price that is too high can scare qualified buyers away, and a price that is too low could be to your disadvantage. It can be challenging to find the right price since there aren’t very many comps to compare your vacant lot with. Even the most qualified buyers may have trouble obtaining financing for vacant land, so consider offering financing for buyers to help them make the sale happen. Typically, offering some sort of financing will open up your pool of potential buyers and increase your chances of finding the right one.

Be Patient

Selling land usually takes longer than selling a house. Patience is a must. Jumping on the first offer you receive could end up being more trouble than it’s worth and, in the long run, just end up taking more time. Take the time to check the buyer’s references, investment history and credit to ensure they’re the right buyers for the property.

Phone A Friend

Well, maybe not a friend, but maybe a neighbor. Sometimes checking in with a neighbor and asking them if they’d be interested in purchasing your adjacent lot is the easiest way to find a buyer. It cuts down the need for marketing and makes for a quick and painless sales process.

Consider An Agent

Some people prefer to sell their land on their own and cut out the middleman. And while selling land by owner has its perks, it can also limit who sees your property. Working with an experienced real estate agent may help get the word out to the right types of people that you have a lot for sale. Utilizing the knowledge, networks, and resources of an agent may help you find the ideal buyer.

Finding The Ideal Land Buyer

Whether your land has been for sale for a while or you’re about to list it, finding the ideal buyer is key to a successful and profitable sale. Understanding your market, setting a fair price and practicing patience will help you target just the right buyers to take your home from “for sale” to “sold.”