I make a commitment to my clients when I become their exclusive agent. I never list a property I do not intend to sell. Until a property sells I spend all of my own money in marketing and showing a tract. Agents cannot stay in business if we do not make money. I tell people that my children like to eat every single day, so I give my best effort to selling their property. That is an arrangement that benefits both the seller and the agent.
If you’re in a neighborhood where builders are particularly active, you may have already gotten a knock on the door or letter in mail asking if you’re interested in selling. Stanley says he receives many calls from sellers to bring his attention to a property as well. When it's the right kind of property, most builders are happy to make an offer on a home – often in cash – that makes the process simple, quick and free of commission paid to any real estate agents.
Promotion Agreements. Agreements of this type are arguably now more popular amongst developers than traditional option agreements. They allow the promoter, often a developer or specialist planning consultant, to apply for and obtain planning permission at their own cost. Once planning consent is obtained, the landowner must sell and the promoter receives their fee out of the proceeds. BHW has produced a detailed article on this type of agreement. Landowners will need to negotiate to protect their interests under these agreements and specialist advice is essential. One of the points to consider is how long you are prepared to be tied into such an agreement.
Having a knowledgeable professional on your side always helps when selling your lots and land. There are many benefits from having specialized expertise on board, so we encourage you to work with a real estate agent who specializes in lot and land sales. They will help you understand the market, set a price and market your land to the right buyers.
With marketing budgets cut due to economy, its hard to juggle getting the most bang for the buck. LANDFLIP has worked to put packages together to allow a small business to compete on the Internet with the big boys. But the most impressive thing has been the customer support after they get the money. Even though some areas may cost more, the customer service I am satisfied with greatly. Everything LANDFLIP discussed with me is very user friendly and generates leads.
I've seen a number of properties that are virtually useless due to their size and shape. I remember on one occasion, I came across a parcel of land that was 5 feet wide and 900 feet long. I've also seen properties that were 10 feet by 10 feet. If you see a parcel of land with an odd shape, use your common sense. If you can't think of a legitimate use for a property with its given dimensions – you'll probably want to think twice before buying it.
To appeal to the widest range of buyers, you might want to make some updates, freshen up the yard and stage a few of the rooms. But you’ve seen properties in your neighborhood bought up by builders and demolished for new houses to be built. Maybe selling your home as a teardown would save you the effort of fixing it up, while getting you into your next house sooner.
Advice: One of the added benefits of hiring this agent is that they can advise you on much more than just the price of your land. A true professional will have a network of individuals that can help you with anything from tax planning to pond building. An experienced agent can tell you what is possible. They may know many things that can save or make you money during your transaction. Most of the time a good agent will help you net more money from selling your property than you can get on your own.
After identifying your likely buyers, try to think like them so you can focus your message to convey what they need to know about your property. Have information ready about schools, shopping and other nearby amenities. For developable land you can be prepared with zoning information and insight from local authorities about the location and capacity of water and sewer service. Each property is different, so customize your information for your situation and your targeted buyers.