Listing your land and waiting for offers to arrive can be a frustrating and painstakingly slow process. This process only becomes more tiresome and frustrating when offers never seem to arrive, or when you receive a number of offers that are well below your listing price. After several weeks, or even a few months, without receiving any legitimate and serious offers you may begin to lose hope that your land will sell. However, before you become completely disillusioned with the land selling process you should review the two main reasons why land typically doesn’t sell: marketing and price.
Price
Selling a plot of land with a home or other facility already on it is quite different from selling an empty and undeveloped plot of land for a plethora of reasons, none more so than the process for arriving at a particular price for the two. When evaluating a plot of land with a home on it, you can look at homes in the surrounding community and the condition of the home. However, when evaluating your plot of land you will need to look at several other indicators to arrive at a solid, fair, and reasonable price.
When evaluating the price of a plot of land, resources like timber, water access, and fencing are all factors that should be taken into account. However, plots of land are typically listed at a price within the same bracket as other land in the area. For example, if land near your plot is selling for $1,000/per acre you will need to list your land for around this price to remain competitive and reasonable.
If your plot of land contains resources that other plots of land in your area do not, then of course your pricing may be a little higher. This is where marketing your land effectively will allow your land’s best qualities to be seen justifying the pricing difference.
Marketing
After you have calculated and arrived upon a competitive and attractive price for your land, you can begin to develop a marketing strategy. When marketing your land it is important that you not only attract a general audience of buyers who are looking to purchase a plot of land, but also a more specialized and narrow audience who should truly be interested in your land. Is your land best suited for hunting? Farming? If so, then you should be trying to attract hunters or farmers.
Figuring out what factors land buyers are looking for in a plot of land is a great way to decide upon which features of your land you should display in your listing pictures. Most land transactions are a result of the first few images a buyer sees of the land- make sure your pictures are effective.
Once you have a persuasive and attractive land listing you can begin by advertising on a number of land buying sites including Land.us. If you decide to partner with a real estate agent or land broker they will also be able to shed light on what online markets work best in your area.
Factors of Selling a Plot of Land
It can be quite comforting and calming to realize that marketing and price are the only two factors controlling whether or not your land is selling. These are two factors that you can control and improve as you navigate the land selling process. Once you effectively market your land and arrive upon an attractive price for the plot, you should begin to receive more and more legitimate and fair offers for your land. Remember, the land selling process can be tricky, but with a little work you can make it work for you. Good luck selling your land.