Land is special. Sometimes it is passed down and inherited, or, you may have spent decades paying for it. Why would you list it with a real estate agent that is just going to take a big cut of it for doing almost nothing?
Steps to selling your land
- Determine the sale price. If you have 5 acres of land for sale it is going to be sold to someone with completely different intentions than the 140 acre lot down the road that just sold, so, comparing the price per acre of your property with theirs is useless. Is it wooded? Will it be sold for residential use? A commercial development? Does it perc? Is it landlocked? Are there easements? Where is it located? Are there buildings on it? Are you comparing it to another property nearby? If so, does that property have buildings on it? Access to utilities? City water/sewer? Coming up with a good price is very important; too low and you’ll attract the wrong crowd, too high and you’ll scare everyone away. There is a reason larger tracts are sold with a broker.
- Advertising your land. A good land broker like myself utilizes every platform available. Realtor.com, loopnet (for commercial properties), landflip, our website, etc. Having your property on these platforms gets your land seen by thousands of people along with other land for sale in the area. Many of these platforms cost around $1,000/mo. Each. If you have a small tract of land that you want to sell yourself you can try Craigslist, FSBO, and eBay.
- Financing your land. Are you going to finance this land or is it cash only? There are many benefits to financing land yourself – see my article Seller benefits of owner financed land sales.
Or use a land specialist
If you are getting ready to sell land feel free to give me a call. Depending on where the land is located, I may have some tips for you. Even if you are not going to list the land with me I’ll still offer some advice.
It is important to remember that land does not sell itself overnight. With all of our advertising outlets we can often get people more money, faster, if we list their land. Also, if you try your hand at selling the land and it doesn’t work out you can call us. I am one of the largest sellers of land in North Carolina and have a full staff to assist in the sale. We sell land all day every day. If you’d like to see my land sales credentials please just visit my page North Carolina Land Sales.