If you’re just starting in land investing, you’ll be surprised that it’s easier to purchase land for an affordable price than to sell it fast. Ask any land investor you know, and they’ll tell you that this issue is a reality in the industry. Hop on the endeavor of selling land for just a year, and you’ll realize that it’s not easy to sell a land property.
Of course, there are factors why land is hard to sell. One reason is that there’s a significantly smaller number of land buyers compared to home buyers. Market conditions like recession also serve as an obstacle to selling vacant land successfully. Also, if you don’t have a real estate license, you won’t have full access to the pool of buyers in your area.
So, how to get past the common hurdles to sell your land property? Well, here’s a blog post to answer that question.
Make Your Land Listing Stand Out
Your land listing can have a significant influence on the saleability of the land. To get potential buyers interested and excited about the property, make sure to craft an excellent land listing.
Here are some of the elements to make your property listing stand out above the rest:
- The headline is the springboard that will cause a buyer to click on your ad. So, write an attention-grabbing headline when you’re advertising the property on sites like Zillow or Craigslist, and make sure that it’s easily noticeable.
- Make an excellent visual representation of your land listing to attract prospective buyers. Use high-quality photos of the land because these give land buyers an idea of the property they’re getting.
- Create a property description that can touch on the buyers’ emotions. It means identifying the good aspects of the land you’re selling and present them in a detailed yet intelligible way to the buyers.
- Use a promotional video to present the features of the land that couldn’t be presented sufficiently by still images. Buyers love to watch promotional videos taken of a real estate property captured by drones because it helps them envision what they can do to the property.
List Your Land in Multiple Places
Do you want to receive more phone calls from people asking about the land you’re selling? Well, the not-so-secret way to make that happen is to list the property in more places. Yes, you have to take a shot in allowing more people to know that you’re offering this land property up for sale.
Imagine if out of thousands of potential buyers only one person will be willing to purchase your land. Well, it means that you should advertise your property in front of thousands of prospective buyers to boost your chances of speaking with that one willing buyer.
Your land listing won’t reach many people by posting only a single advertisement on Zillow. So, it’s a must that you post your ad in multiple places. Furthermore, it will be a huge help to update your ad regularly to avoid getting it pushed off the front page. In this way, prospective buyers will notice your advertisement.
Sell the Property with Seller Financing
For land buyers, it’s not easy to find a bank or lender that can finance their property purchase. This situation is an excellent opportunity for a land seller to offer seller financing because it enables him/her to sell the land fast and make more money out of it.
Another benefit to the seller is that it can create a steady stream of income during the period of the loan. However, you have to ensure that it’s okay for you to accept installment payments for the property over a fixed period.
Create a Buyers List
It’s a significant help to have a buyers list to sell your land property. Some land sellers don’t list their land publicly – they just send emails to people on their list. And, with this approach, they can make a successful land sale fast. However, you have to keep in mind that it takes a considerable amount of effort to build your buyers list.
To get started, you must create a website where people can get important information about you and find compelling reasons why they should be on your list. Then, create an email list by signing up for an email marketing service. Lastly, find an excellent strategy to promote your email list that you have awesome land deals that are up for sale.
Reduce the Price
The easiest way to sell your land fast is to lower its price. Some buyers won’t go for a price that they think is too much for the value of the property. So, if it’s possible, you can reduce the property’s price to make it more appealing to prospective buyers.
However, you need to ensure that you can still get something by resorting to this option. Before taking this approach, make your buyers understand and see the property’s value and why you’re offering this particular price.
Land properties are difficult to sell because of factors, such as small numbers of buyers compared to other types of real estate properties and market conditions. However, there are ways you can do to boost your chances of selling vacant land in a short period of time. Just revisit the tips mentioned on this list for that purpose.