Selling a piece of vacant land can be quite daunting, especially if you don’t know where to start. It is pretty different from marketing houses and other real estate since there are no grand features you can boast of, only its location or how expansive it is.
To find potential land buyers, you must understand the land market, stage the land for sale, create a good marketing plan, price your land right, and start networking. You can also list your land on different platforms, put a for-sale sign on the property, and start finding buyers in the right season.
Of course, these strategies are not as easy as they sound. If you want a more in-depth discussion on how to find land buyers, keep reading this guide until the end!
How to Find Buyers for Land
Understand the Land Market and the Land Buyers
Even if you are already used to selling houses, you may still find it challenging to sell a vacant piece of land mainly because of the target market.
To find interested buyers right way, examine the land you are selling. Is it large enough to house commercial properties or perhaps a farm? Once you have identified the development potential of the land, you’ll get an idea of what type of people you should market it to.
This will save you time and energy because you can skip talking to a lot of home buyers, which is a whole different market. Just pack a lot of patience because land buyers are not as active as home buyers.
Prepare the Land for Sale
You’ll attract more land buyers if you have already staged to sell the land. What we mean is that you already made it presentable and appealing that when the buyer sees it, they would want to pay in cash right away.
Here are some ways to improve the land to attract more buyers:
- Mark the boundaries. Get a survey done so you can mark the boundaries of the land. This will give the potential buyer a clear estimate of what they’ll own once they seal the deal.
- Improve the key features of the property. If the land has some valuable features like a pond, a bunch of hundred-year-old trees, or a natural garden, improve and showcase them! This will attract more audience, especially your targeted market.
- Remove all the clutter. You should prioritize removing all the trash and anything that can hide the beauty of the property from the buyer’s vision before they visit the site. This also includes cutting the grass, weed, and bushes.
- Repair what needs to be repaired. Just like what you’ll do before selling a home, repair what needs to be repaired in the property. For instance, if the gate or fence is already damaged, fix it. If there is a part of the land that has signs of erosion, fill it up.
Create a Marketing Plan
When the vacant land is already staged for buying, it’s time to create an effective marketing plan. Of course, your marketing plan should be aligned with your target buyers.
For instance, if the land is quite large and perfect for commercial projects, then your marketing plan should focus on attracting land developers and business owners.
You would get the interest of these buyers right away if you could show them the zoning requirements of the land and how the property will facilitate water installations or even sewage.
The exact measurement and boundaries of the property are also key information you should highlight in your marketing plan.
If the property is relatively small and ideal for a tiny residential area, then your marketing strategy should target small families looking for a space to build their dream house. Focus on the aspects of the land, its location (whether it is in a rural or urban area), and the community around it.
For example, you may want to make use of the fact that the land is near schools, restaurants, hospitals, or playgrounds. All these would make great talking points when finding land buyers.
Price Your Vacant Land Right
Pricing your vacant land right also helps in finding buyers right away. However, this isn’t as easy as pricing a house because you don’t have any point of reference unless there are also vacant lots near you that have the same measurement as yours.
In picking the price of your land, you may need to do a little homework. Identify the exact value of the land and make adjustments in the pricing according to your needs.
Just keep in mind that the amount you’ll set should still fit the land’s market value. A price that is too high would scare potential buyers off even though land prices have really skyrocketed in the past years.
If possible, offer land financing. This is a great way to find land buyers right away because not everyone can afford to pay the whole amount, especially if the land is worth thousands or millions.
Seek the help of a good real estate lawyer in creating the financing paperwork and sell the land mentioning that you accept the installment scheme.
Start Networking
Networking is an underrated strategy for finding the right buyers and widening your audience. This is understandable since some land sellers aren’t really that chatty with others.
But if you really want to sell your land fast, just like you would for real estate, you better start talking to your circles. Chat with your co-workers, family, and friends. Pitch the land to them, keeping in mind the potential of the property.
Even if they aren’t interested, they can get the word out.
Another strategy you should consider is directly approaching your neighbors to see if they want to extend their land by buying yours. After all, it’s already beside theirs.
Chances are, they’ve been eyeing your land for quite some time now and just waiting for you to sell it.
List Your Land
If simple networking couldn’t do the job, start listing your land in property portals, classifieds, and land dealers. This allows your land to be seen by a lot of people, not just your target audience around your community.
Online Property Portals
There are a lot of online property portals and websites where you can post your land. You would only need to share pictures and detailed descriptions just like other listings. Aside from portals that are created solely for land selling, you can also list your property on social media platforms. Although, you have to exercise extra caution when doing this because there are a lot of scammers there.
Land Dealers
Land dealers are professionals in selling land properties and can speed up the hunt for potential buyers. However, you must be very careful when choosing a land dealer because they can be swindlers. Do a thorough background check before you let them take control of selling your property and allow them to post it in listings.
Advertisements
Advertising through classifieds may also help you in selling land fast. Be it on a website or in your local newspaper, it gives your property a chance to be seen. The only downside of using targeted ads is that it isn’t free and can be expensive, especially if it is online.
Choose the Right Season to Start Selling Land
While it is true that you can sell your property anytime if it is attractive enough, not everyone is lucky to have a great piece of land that piques buyers’ interest.
Selling land during the right season can create positive results. For instance, in an article published by the National Association of Realtors in the Realtor Magazine, the most popular and successful home listing dates are during spring, every Thursday and Friday.
Although this applies to houses, the same holds true for vacant lots.
Land buyers are a lot more receptive during this season compared to winter. You can also demand a higher price if you hold out and wait for spring or even summer.
Put up a For-Sale sign
There is no wrong doing it the old way to sell your land. Put a for-sale sign on your property, so the community knows you are selling it. It will attract many people who’ll pass by, and they can also tell others about the land’s availability.
Word of mouth is pretty powerful, especially in small villages and towns.
Just make sure to check with the homeowners association if posting a for-sale sign is allowed.
What is the Fastest Way to Sell Your Land?
To find buyers even faster, there are some more strategies that can help you. Check them out below!
Hire a Real Estate Agent Who Specializes in Selling Land
While selling your land without a middleman has its perks, it can also be limiting. When you seek the help of a real estate agent who’s an expert in selling vacant lots, more people will learn about your property. They can utilize their resources and networks to find the right buyer for you.
Sell land at a reduced price
If your asking price is really high, marketing it at a reduced price while still ensuring that you get your vacant land’s value works well in attracting potential buyers. But do this only when you are already desperate to sell the land, or you haven’t found a good real estate agent.
Consider Property Auction
Through property auctions, more people can see your vacant land and bid. Also, once you have agreed with a buyer, they can no longer pull out or renegotiate unless they want to deal with legal penalties.
Final Thoughts: How to Find Buyers for Land
Finding potential land buyers would be relatively easy if you know the potential of your land and “who” your target market is. If you utilize the techniques we discussed above, you’ll have more chances of selling your land in no time.
Just pack a lot of patience when looking for buyers, and don’t expect everything to be as fast as selling a home or any real estate!
If you still need help selling your property, consider contacting us here at Selling Land Fast. We are active land investors who offer cash to make the process easy for you! Contact us at (346) 207-1246.