Selling vacant land is never easy. Whether it is a 1 acre parcel or 100 acre parcel. How do you know how to properly market vacant land & utilize the strategies that work. In this blog I am going to go over a few key metrics to focus on in your advertising.
1) How Can the Land be Used?
Most people buy vacant land to either build on, hunt on, or use for recreational purposes. So before you start the marketing process you need to be sure which one of these your parcel of land can be used for. It is as simple as making a call to the local zoning department & seeing how the land is zoned. Is the land even buildable or can it only be used for recreation?
2) How to Price Land to Sell?
The quickest way to sell a parcel of land is to offer it at a discount. If similar properties have been sitting on the market for 6-12 months with no activity & you price your parcel at the same thing, guess what happens? IT SITS! Now, how do you go about pricing a property to sell. I would recommend looking at sold comparable properties & pricing it at least 25% below those. If you don't get a lot of activity within the firsts few weeks or month, drop it another 25%. This should result in a very quick sale.
The tough part about land is the next individual to buy it needs to see the value which may not be there at the price you are asking. Someone typically has to develop the parcel to gain any sort of value out of it.
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