Many homeowners have first hand experience selling their homes. They’re comfortable with the comprehensive home selling process, prepare for closing costs, and know how to entice buyers with a cosmetic updates and enhanced curb appeal. But selling a tangible structure is much different than selling vacant land, and the process can often seem foreign to new landowners. If you want to successfully sell vacant land in Austin, you must understand the key differences between owning land with a property and without, how those differences affect the types of buyers you’ll encounter, and decide on the best method to sell land fast.
It’s hard to sell a house in a fluctuating real estate market; it’s harder to sell a bare lot. If you want to sell vacant land in Austin, you must first tackle how to present your property to potential buyers. Instead of updating a home and letting it speak for itself, landowners must be able to attract buyers by creating a narrative to maximize their land’s potential. Most land buyers are purchasing your property to build on; they need to imagine what the land could become once it’s finally developed. It’s your job as seller to appeal to the imagination of the buyer.
There are other notable market differences for selling vacant land and properties with existing homes. Land buyers not only need to be told a story, they also typically have very different needs for the properties they buy. While home buyers want move-in ready spaces with state-of-the-art updates, land buyers determine the best properties by their location and ability to customize the available space.
The market for land is also typically less active than the home market. This is due to the smaller inventory of undeveloped lots and the consistent home construction during a healthy housing climate. With fewer available buyers, land often stays on the market longer than homes in the same area. Even if the lot is in a desirable location and priced well, you can expect fewer contracts on a new land listing.
If sitting on the real estate market for months doesn’t appeal to you, you may want to consider selling land without a realtor. While hiring a real estate agent has its advantages, closing within a week is not one of them. Realtors must construct marketing plans, print off advertising materials, schedule open houses, and finalize the purchase agreement all while juggling multiple clients. Using an agent can severely limit your time frame and cut into profits at closing.
Choosing to sell vacant land yourself isn’t an easy task, though. It requires understanding the real estate market and identifying the typical land buyer, expert salesmanship, the ability to advertise while accentuating your land’s best potential, and the general know how to sell land by owner. It’s a more hands-on approach when selling land without a realtor, but it’s more rewarding.
To successfully sell vacant land, you should make a few key preparations first. Sprucing up the property before listing it is a great first step. Clean up your lot: cut the grass, remove any debris, and keep the space as meticulously landscaped as possible. Some sellers even plant wildflowers and shrubbery to make their land more idyllic. Once the land is manicured, take professional marketing photos that can be used on advertising materials. Remember: first impressions are lasting.
If you’re selling land without a realtor, you must carefully choose the price of the property. Pricing often determines how long a plot of land stays on market and the pool of buyers willing to purchase the land. Unfortunately, figuring out the right price of vacant land can be trickier than pricing a traditional home. Instead of using comparables, landowners must form a price point based on total acreage, location, and the condition of the lot.
After you’ve figured out a fair property price point, it’s time to start marketing the lot. As with any successful marketing plan, the most important rule to remember is showing your property at its best. Since it’s unorthodox to schedule open houses when selling lots and land, landowners should use meticulous visuals to convey the property’s potential while evoking emotional responses. Professional photos of all the hard work spent to make your land picturesque will create a beautiful and compelling story to entice buyers online. Be creative with your photos and only use the best ones of features unique to your land. Seeing natural preserves, babbling brooks, and a landscape full of mature trees can become a better advertising material than a well-written description and low price point.
Once interested land buyers start contacting you about the property, offer to walk the the property with them. Even without the traditional open house, many buyers feel more inclined to buy vacant land after surveying the property themselves. It might require becoming unavailable for a couple of weekends, but walking the property with a land buyer has its benefits. You have the opportunity to show them the best attributes of the property, as well as walk the property lines and tour the neighborhood’s amenities. You can use this opportunity to also build rapport. It never hurts to network with buyers and investors when you need to sell vacant land.
If you want to sell land fast in Austin, there’s only one reliable method guaranteed to sell within a week: using local cash buyers. With selling to cash buyers, you can avoid all of the work involved with selling land without a realtor while avoiding the lengthy time frame imposed by hiring agents. Cash buyers are reputable investors willing to pay for your vacant land at a fair market value. They specialize in assessing properties, seeing the potential of a lot, and handling any unexpected hassles when selling. The best part of selling land to cash buyers? You can close at your earliest convenience. No more cleaning up a property, courting potential buyers, and spending months on market. With cash buyers, you can close on your unwanted land and move on within a week.
We’re serious land buyers who work in Austin and surrounding areas, and we understand how stressful it is if you have vacant land that you can’t afford or don’t know what to do with it. No matter what condition your land is in, SellYourLandInTexas.com will work with you to make it a quick and simple sale!
If you have any questions about your land, or want to know more about the cash buying process, give us a call! We’re always happy to answer any questions. Call us today at 512-407-2644, or visit our website.