If you’re selling land, keep in mind that it’s not the same as selling a house. You’ll need a distinct marketing/sales approach because the market is different, the buyer attitude is different, and the buyer mindset is different. So, just because you’ve sold a house (or several houses), doesn’t indicate you’ll be able to sell a piece of land — unless you know and utilize the correct tactics. Then keep reading to learn about three great tactics for selling land in Sacramento.
1. Understand the Market
We all require a place to sleep at night, but not everyone requires undeveloped land. The first thing to know about selling land in Sacramento is that “the land market is just less active than the housing market because there are fewer potential buyers shopping for land in its raw form.” In other words, demand is lower. As a result, selling a piece of vacant property takes longer than selling a home.”
Furthermore, when it comes to selling land, the perspective of the buyer differs. “Homebuyers and land buyers have quite different goals in mind when it comes to purchasing properties. A homebuyer’s goal is to choose a property to reside that requires minimal effort to maintain (a move-in ready house). They’re willing to compromise personalization for time and convenience in many circumstances.”
Land buyers, on the other hand, are frequently looking for something unique and intend to undertake some work on the property to tailor it to their own requirements. “An individual, for example, might be seeking for residential land to construct on or recreational acreage. To make money off the property, developers hunt for the right location and land type. It’s possible that the land might be better suited to farming or ranching, in which case your buyer could be one individual or a group.”
Because of the differing buyer attitude, different marketing and sales approaches and strategies are required when selling land. Above all, your marketing should enable a land buyer to see the property’s potential. Contact a Sacramento agent at (916) 507-2502 to learn more about marketing to the land-buying audience.
2. Price It Right
When selling a home, getting the price right is critical, but when selling land in Sacramento, it’s critical. Pricing is critical in attracting potential buyers, and if you get it wrong, buyers will be hesitant to inquire about your land for sale.
The problem in valuing land stems from the fact that comparable properties are few or non-existent. This implies you won’t be able to assess market worth using a comparative market analysis (CMA), as you can with a property. To determine market value, a CMA examines the sale prices of recently sold homes in the same neighbourhood or location. However, land prices vary so widely that using this pricing tool becomes nearly impossible.
When it comes to pricing land, you’ll need to consider your own financial demands as well as how cost affects buyer interest. Pricing is frequently a dilemma between getting the best price and making a rapid sale. Furthermore, pricing land necessitates a detailed understanding of the entire land market. Working closely with a Sacramento agent is therefore your best bet. To learn more about this, simply call (916) 507-2502.
3. Get the Description Right and Market Widely
As we mentioned above, selling land calls for different marketing tactics than those for selling a home. Here are some of the things to keep in mind and do for marketing . . .
Get the Listing Description Right
It’s critical to get the description right when selling land, especially considering it serves a different purpose. “Finding strategies to promote undeveloped land… necessitates convincing potential buyers of the property’s potential in the wide-open area it provides.” Begin by emphasizing the existing amenities on the site. To persuade interested purchasers to take a closer look at the property, describe the vistas or natural landmarks and mention improvements such as incoming power lines, wells, or water and sewage lines.”
Use Your and Your Agent’s Website
“Publish a detailed description of the unoccupied land on your website or the website of your real estate agency, including the boundary description, easements, and current tax value.” Provide images from various perspectives as well as any scenic vistas the property has to offer. Include a topographic map or a scan of the most recent survey on the page. Give directions to the property and identify adjacent attractions like fishing holes, parks, and retail malls. Establish confidence with potential buyers by being open about environmental concerns.”
Use Appropriate Online Listing Sites
Also, to attract potential purchasers across the country, post your land on all of the sites that land buyers will visit. Simply use the appropriate keywords to identify location to attract buyers looking for land in specific areas.
Leverage Social Media
Don’t underestimate social media’s reach and influence. “Tweet messages and add Facebook posts about the property to show potential purchasers the value as an investment or to fulfil a dream of owning a piece of land,” for example. If you don’t come up with a name for the land yourself, hold a contest to encourage followers to suggest one. To… whet the appetite of interested buyers, use images and engaging writing.”
And Get the Agent Edge . . .
By now, it should be obvious that selling land is a completely other beast, one that often necessitates the ability and understanding of a knowledgeable local agent. As a result, don’t take any chances. If you’re looking to sell land in Sacramento, give us a call at (916) 507-2502.