If you’re selling land, know that it’s different from selling a house. The market is different, the buyer mindset is different, and you’ll need a different marketing/sales approach. So even though you may have sold a house (or houses) in the past, that doesn’t necessarily mean you will successfully sell a piece of land – unless, of course, you know and deploy the right strategies. Read on, then, to discover 3 effective strategies for selling land in Amarillo Area.
1. Understand the Market
We all need a place to sleep at night, but not all of us need vacant land. The first thing to understand, then, about selling land in Amarillo Area is that “[t]he land market is simply less active than the housing market because there are fewer potential buyers looking to purchase land in its raw form. In other words, less demand. As a result, a piece of vacant land will generally take longer to sell than a home.”
In addition, when it comes to selling land, the buyer mindset is different. “Homebuyers and land buyers look to purchase properties with completely different objectives in mind. The goal of a homebuyer is to find a place to live and usually where a relatively low amount of work is needed to live there (a move-in ready house). In many cases, they’re willing to sacrifice personal customization for time and convenience.”
Land buyers, on the other hand, are typically looking for something different snd usually plan to do some work on the land to customize it for their specific needs and purposes. “An individual, for example, may be looking for residential property to build on or land to use for recreation. Developers are looking for the right location and land type to make money off the land. It could be the land would be best used for farming or ranching so you’re buyer could be an individual or a group.”
This different buyer mindset means that selling land calls for different marketing and sales tactics and strategies. Above all, your marketing must allow a land buyer to envision the land’s potential. To discover more about marketing to the land-buying audience, contact a Amarillo Area agent at (806) 333-0551.
2. Price It Right
Pricing right is very important for selling a home, but it becomes absolutely critical for selling land in Amarillo Area. Pricing will play a huge role in attracting potential buyers, and if you get it wrong, buyers will be discouraged from even inquiring about your land for sale.
The difficulty with pricing land lies in the fact that comparable pieces of property are scarce or nonexistent. And this means you won’t be able to perform a comparative market analysis (CMA), as you can with a home, to determine market value. A CMA looks at the sale prices of very similar homes in the neighborhood or area that have recently sold to arrive at market value. But land varies so drastically that it becomes almost impossible to use this pricing tool.
So when pricing land, you’ll need to weigh your own financial needs against how pricing will impact buyer interest. Often, pricing comes down to a choice between getting the highest price possible and a quick sale. In addition, pricing land requires a thorough understanding of the land market as a whole. Your best bet, then, is to work closely with a Amarillo Area agent. Just call (806) 333-0551 to discover more about this.
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
Getting the description right is crucial for selling land, particularly because it has a different job to do. “Finding ways to market vacant land . . . requires making prospective buyers see the potential in the wide-open space the property offers. Start by stressing the amenities that already exist on the property. Describe the views or natural landmarks and mention improvements such as incoming power lines, wells, or water and sewage lines to help convince interested buyers to take a closer look at the proper.”
A good description tactic to help buyers visualize the land and see its potential is to give the property a descriptive name and then suggest potential uses. “For instance, calling your land the ‘Canyon Park Vista’ suggests trees, a canyon, and a view, making your land sound much more enticing than ‘Lot 2.’ Use your listings to suggest potential uses for the land, such as the fact that it would make a scenic, private location for a house or a gorgeous setting for a small organic farm or garden. If the property is located on a green belt or next to a national forest, stress this benefit to appeal to people who want the privacy and environment these features offer.”
Use Your and Your Agent’s Website
“Include a complete listing about the vacant land on your website or your realty agency site, and include the boundary description, easements, and current tax value. Provide photos from different angles and any scenic views the property offers. Add a topographic map or scan the most recent survey and add it to the page. Provide directions to the property and mention nearby features, such as fishing holes, parks, or proximity to shopping areas. Build trust with potential buyers by being forthright about environmental issues.”
Use Appropriate Online Listing Sites
Also, be sure to list your land on all the sites land buyers will be visiting in order to reach potential buyers nationwide. Just make sure to use the right keywords to indicate location, which will attract buyers looking for land in specific regions.
Leverage Social Media
Don’t neglect the wide reach and power of social media. For example. “Tweet messages and add Facebook postings about the property by showing the value to potential buyers as an investment or fulfilling a dream of owning a chunk of land. Hold a contest to encourage followers to recommend a descriptive name for the land if you don’t come up with one yourself. Use photos and interesting copy to . . . whet the appetite of interested buyers.”
And Get the Agent Edge . . .
It should be pretty plain by now that selling land is simply a different animal – one that typically requires the expertise and knowledge of an experienced local agent. So don’t take any chances. When you want to sell land in Amarillo Area, be sure to contact us today at (806) 333-0551.