When it comes to selling land, realtors understand that it goes beyond implementing effective marketing strategies and reaching the right audience. It requires a deeper understanding of the land itself and the needs of potential buyers. By providing valuable information and data that may be hard to find elsewhere, such as the proximity to neighbors, the character of nearby communities, and unique features or breathtaking views, realtors can better connect with their audience and get the most value for their clients property.
What Do Land Buyers Want to Know?
Preparation is key, and anticipating questions and objections is crucial. The more that you know about a property, the better you can prepare for these questions. To help you prepare for land buyers and their questions, here’s a few factors to pay attention to.
Zoning
As a seller, it is your responsibility to be well-prepared with zoning information, whether a buyer intends to build a guest house on the property, start a home-based business, or use rural land for agricultural purposes. You can easily access much of this information online using online mapping tools that can simultaneously point out exclusion zones for development, such as floodplains or wetlands. Additionally, reaching out to the department of licenses and inspections in your area can provide further assistance. LandApp provides nationwide property zoning information.
Property Potential
Buyers often come with a clear vision for their land, whether it's constructing a home, cultivating crops, engaging in ranching, and using or leasing the property for recreational activities. To be well-prepared, gather as much information as you can about the property as possible. Conduct an appraisal or use LandApp to assess the physical conditions, such as the soil types and topography. The legal requirements, such as zoning permissions, should also be examined. Take into account the financial implications of various projects and explore how the land's unique characteristics can be maximized. By doing so, you can make informed decisions about effectively marketing the property to the appropriate target audience and get the most value from the property.
Buildability
The potential to construct buildings on a property can greatly influence prospective buyers. Therefore, it is crucial to effectively convey any land regulations and restrictions. Factors that seem minor, such as the soil types on the property or the presence of an easement or a wetland can greatly impact a property's potential for development. Consider reaching out to local building offices, conducting a thorough title search, and even hiring a surveyor to assess the land. These measures will help ensure you provide comprehensive information to interested parties.
Accessibility
The issue of accessibility can arise in various ways, especially for rural properties. Are there any private entrances to the property? Is there driveway access to the property, or would a driveway easement need to be arranged? Does the area experience heavy snowfall during the winter, potentially making the roads impassable? Are there any low water crossings that could pose a flooding risk? Speaking with the previous owner, if possible, can provide valuable insights on these matters.
Utilities
Regardless of the intended use of a piece of land, utilities are typically a crucial consideration. Electricity, water, and septic systems are typically significant considerations for prospective land buyers, even though those utilities can be added to land (but it costs a lot of time and money).
It is unwise to assume that the presence of a power line guarantees the availability of all necessary utilities. A new power line may need to be brought to the property, which the new owner would be responsible for funding. Although installing electricity on rural land is possible, it can be costly and time-consuming. It is also important to inspect the property for existing septic systems, as well as the water sources. Ideally, the property is located within the service zone of a city or a county's water works, as this is the most efficient option. Otherwise, a well will need to be drilled. Researching the potential costs and timelines for adding utilities will help you anticipate questions and set the right expectation with prospective land buyers.
How Can I Market Property Effectively?
Understanding your target audience is the first step to effectively marketing a property. Consider the unique features and potential uses of the land and tailor your messaging accordingly. Overall, the more that you know about a property, the easier it will be for you to determine its most valuable aspects, which will help you determine your target audience and tailor your messaging accordingly. Here are a few additional tips to keep in mind:
Utilize high-quality visuals, such as professional photographs and videos, to showcase the unique characteristics of the land when you create a listing.
Highlight any amenities that may appeal to potential buyers, such as access to recreational activities or proximity to popular attractions.
Utilize a variety of marketing channels, including social media, online listings, and local publications.
How Can I Get More Data on Property?
By understanding the needs and desires of potential buyers, preparing detailed information about the property, and effectively marketing its unique features, you can increase the chances of finding a suitable buyer for a property. Remember to always be transparent and upfront about any potential limitations or challenges associated with the property to avoid any misunderstandings down the road. With proper preparation and effective marketing, you can successfully find a buyer for your land and ensure a smooth transaction process for both parties involved.
When buying and selling land, there are a lot of qualities to consider, and the qualities your audience finds the most important can even change depending on who they are. The more data that you have about a property, the easier it will be for you to fine-tune your marketing efforts and attract the right audience. LandGate's LandApp platform is the all-on-one tool for researching land. It breaks down information pertaining to any U.S. parcel's resources and unique attributes. You can assess soil types, floodplains, buildable acreage, sales & mortgage history, and more:
