Land appreciates overtime, and you can never overlook the profits.
Land selling requires strategic planning and effort to enable you to tackle the challenges that you might encounter in the business. There are some essential steps required to make the process an easy task.
Although land selling might require different strategies or means, you can apply the strategies needed to sell homes towards it. All you need to do is to focus your plan on selling the land and redesign your strategies.
This guide will enrich you with the right information on how to sell your piece of land by yourself and get the best return on investment.
Ultimate Steps to Help You Sell Your Land
Consider the following questions and steps to effectively sell your piece of land.
Who are you selling to?
You can’t be involved in buying and selling without knowing your target audience. You need to do thorough research on the type of client you are about to deal with.
For instance, if you are selling houses, you need to focus on homebuyers. And your advertisement should be directed towards them.
In the same vein, land selling involves knowing who your buyers are, their taste, and the type of questions they might ask. Yes, we all have our tastes. So, you need to know the type of questions that could be on your buyers’ minds.
Having answers to your buyers’ questions will help to create trust and show how experienced you are in the business.
What is your buyer looking for?
You have to understand your buyer or client by paying attention to their needs. You need to know whether your buyers are looking for an urban environment or a rural area.
Get to know what the land will be suitable for or its future profitability.
Is your buyer trying to purchase the land to lease it to someone else? Does the buyer intend to farm or build a home on the land? Being able to determine what they want from purchasing the land will go a long way in enabling you to sell it on time.
Even if your buyer is confused, you will have a smooth sale once you’ve done your homework well.
Be your buyer’s mirror
This simply means that you should put yourself in your client’s shoes. You need to think like your client and see yourself as the client.
You have already known your target buyers, so you need to stay in their position. It will help you to craft engaging messages to inform them about your property and keep your identity in their minds.
Most customers love asking questions. Honestly, lots of questions, especially when investing money in a property. Therefore, part of your thinking should be on the kind of questions you need to find answers to.
The questions might be on the location of the land, size, market condition, or price. Update yourself with enough information to have adequate answers to your clients’ questions.
Can you also buy the land?
Another point that you can’t neglect is asking yourself if you can also buy the land. Don’t forget that you are still your buyer’s mirror.
Check out the land carefully. Is it the kind of land that your focused buyers would like to buy? If yes, then you are good to go. But if your answer is negative, then keep that for the perfect buyer.
This is because you might jeopardize your business when you try to convince your kind of buyer with another land that you are not sure of.
Make your land appealing
Get the land cleared and make it look very attractive. If possible, try to decorate it with wildflowers to make it look more beautiful. Do the land survey to know the boundaries and get it prepared for sale. It is very vital to ensure that the land is neat; no one will be glad to purchase a dirty environment.
Think about your buyer’s pocket
Knowing your land’s worth is another factor to consider when planning to sell your land. Don’t chase your clients away with high prices when your land is not worth it. So, create a balance between the worth and your price. This will make your sales faster.
Also, ensure that you have enough information or details about the land. Don’t get to the location with your clients without having all the necessary facts.
Buyers have the right to know what they want to invest their money on. So, permit them to inspect the land and provide satisfying answers to their questions.
For buyers who love to see pictures before visiting the location, you need to take good photos of the land. You can use drone footage or any other means of taking pictures to give an attractive image of the property.
Having a detailed map of the land will equally help the buyers to know more about the land and its environment.
Endeavor to prepare all the necessary documents
You can’t separate selling and buying of properties from paperwork. You will need lots of documents before you can complete the transaction. Buyers rarely make payments without the paperwork.
Here’s the list of the essential documents that will boost your land sales.
- Purchase agreement
This is a document that states the amount you are selling the land, and that you and the buyer have agreed on the price. It is essential to have this document because it will help to explain any condition attached to the land. The conditions might help the buyer to decide whether to buy the land or back out of it.
- Disclosure form
A disclosure form helps to reveal any issue on the land and highlight any environmental problem. Although, your need for a disclosure form is optional. Not all states use this form. The state where your land is situated and your reasons for disclosure will help you to determine if it is necessary or not.
- Contract for sale
It is a legal paper that outlines the terms and conditions between you and your buyer. This paperwork is another vital document that you will need to provide to your buyers. It will prevent you from any form of argument and keep the transaction legal. It also helps to outline any other important papers or documents that will make the transaction go smoothly.
This is a legal document that is required to be signed and delivered to the buyer to complete the sales process. You can do this during closing or later, depending on how you handle the transaction process.
- Closing statement
This statement refers to the comprehensive list of all the financial transactions during the land sale. Both the buyer and the seller will receive the closing statement form. It will help in creating transparency and having a piece of evidence of the transactions.
How to Sell Your Land by Yourself
The aforementioned documents will help you to understand how to transact with your buyer and reduce the stress that comes with selling your land.
Nevertheless, you still need to think of a means or channel you can use to effectively sell the land. The various channels you can adopt include the following.
Take your business to where you can easily and quickly target your buyers, that’s online. You can’t overlook the power of internet marketing. The internet is a place where you can market to your targeted buyers and get a high return on investment in no time.
Work on getting all the tools you will need to market your piece of land online, and target buyers who are searching for land to buy. The internet also allows you to choose the location where you want your buyers to come from.
You can also seek the advice of a realtor so that you can know how effective online listing is and how it can generate more sales for you.
Video marketing is powerful. It is one of the online marketing tools that will help you to comprehensively convey your message to your buyers. Most people get moved by what they see. Visual is attractive, and people easily pay attention to good videos. Hence, video marketing tells it all.
Use a video to tell your clients about your land by ensuring that your video is of good quality, colorful, and engaging. And watch them buzz your phone all day long.
Talk to your neighbors and friends
This is another easy way to sell without stress. Advertise your land to your neighbors or friends around you. You don’t know if your friend is about to start a real estate business or your neighbors have family members who are realtors.
Talking to your neighbor and those close to the land can even make your sale faster than you think. It, however, has its disadvantages, which include late feedback from them and low payment.
Get a realtor
Even though you wish to sell your land by yourself, another easier, faster, but expensive means is to connect with a real estate agent or realtor.
Connect with experts who buy and sell land because they understand how to market it well. However, you need to clarify what you want and make a stand on your price if you don’t want their terms and conditions to disappoint you.
Striking a good deal with the realtor will prevent you from being charged outrageous commissions and enable you to profit well from the sale. But it’s better if you can do without a realtor.