Believe it or not, selling lot and land is different from selling an already built house. Selling dirt is a whole new type of art that an agent must master.
One can say that selling a house is a lot easier. The clients can already see the finished product and they can already imagine themselves living in that house. Whereas, when they see a lot, well they really have to let their imagination run wild.
Before we teach you the art of selling land, we first need to enumerate the difference between selling lot and selling a house.
- A different type of homebuyer – Buyers of lots and buyers of homes have different agendas when they look for properties. Homebuyers are ready to move in. An agent must only impress them on the structure of the house and its amenities. Meanwhile, for those who’s interested in buying land, they are not in a hurry to move in. They just want to see a property that they can use in the future.
- Less market – Unfortunately, the land market is less exciting as the home market. There are fewer people who choose to buy a lot.
- Requires a long time – Selling a land requires more effort than selling a house.
So how can you make that big sale? Below are some tips that you have to remember when dealing with land buyers.
1. Understand the buyer
Each buyer has its own reason why they want to buy property. Ask your client if what the land is for. Is it for a residential unit or for a business? From an assessment of their needs you would know which land works best for them and how you can elevate the land’s characteristics.
2. Location is key
Since you’re not selling a house, the other unique value proposition that you have to tell the buyer is the location of the land. Remember that location is a huge determiner of the land’s property increase. Highlight the nearby establishments, the great transportation system near the area, and the new facilities added in the neighborhood. This will ease the buyer that the land they about to buy is worth it after all.
3. Beautify the land
Clean up the land before you let your buyers see it. Cut the weed, remove the trash, or maybe add some wildflower. You have to make the land presentable to the buyers to make a quick sale.
4. Think about the price
Pricing is a tricky game. You have to choose between getting the amount that you want or getting a sale right away. Developed lands have the most tendency to have a higher price. Raw lands, however, may get a lower price. Strategize on how you should play out the pricing game based on the buyer.
5. Take good photos
You should present the lot the best way possible. Take great photos that you can post online. What you can do to make the land look presentable in photos is to take many photos from different angles. Do not forget to include the surroundings or the neighborhood. Satellite photos are great but do not forget to mark the lot.
6. Give them the right contacts
Some buyers are hesitant to buy land since they have no idea how they can start building a house. Tell them that buying a lot and starting the house from scratch gives them the opportunity to build it their own way. Also give them a list of contractors and architects who can help them build their home. In this way they’ll no longer feel bewildered about buying a house.