Over the last couple of years, it’s never been easier to sell your home. With sky-high demand and record low inventory, sellers have remained in the driver’s seat for quite some time. However, selling land is a bit different than selling a home, and it’s important to understand the nuances that exist between the processes.
By learning how to sell land, as well as the differences between a land sale and a home sale, owners can still take advantage of this hot real estate market. Below, we’ll review some of these differences and share tips on how to generate the highest return on your land sale:
Why Selling Land Is Different
The processes for selling land and selling a home can be similar in some ways; however, there exist some major differences. If you’re selling land for the first time, here are some things you’ll want to consider:
- Land buyers are different than home buyers
The number one reason selling land is different than selling a home is because land buyers have different intentions, motivations, and selection criteria than home buyers. As a result, it’s important to try to market your listing to home builders through targeted ads, online marketplaces, and more. Your real estate agent will be able to help you with that. - The land market is smaller
There are far more people in the market for a home than in the market for a piece of land. As a result, you shouldn’t expect a flood of activity or offers the day you list your lot. The selling process will take some time, so be patient. - There are fewer selling points
When buying a home, there are dozens of facets shoppers must consider when making a decision. When buying land, the quality of a lot can be assessed with just a few data points with location often the most important. Therefore, the decision process is based more on facts and less on emotion. - Buyers Will Assess The Land
Buyers will want to ensure the lot is suitable for construction, which means assessing zoning issues, easements, property lines, and even potentially conducting a soil analysis. It also means potentially conducting a perc test. In West Volusia, you also need to ensure the land doesn’t have wetland restrictions. Similar to purchasing a home, a buyer could include inspection contingencies with their offer.
Tips For Selling Land In West Volusia
Because land sales occur less frequently than home sales, many are unfamiliar with the strategies and best practices for marketing your listing. This is where it can help to have an experienced agent and broker in your corner. Here are some tips we often provide our clients:
- Stage The Lot
The staging process applies to both homes and land. You’ll want to prepare your lot for the market, so you can make a great first impression on buyers. You also want the land to look good in listing photos. Make sure to cut the grass, tend to the landscaping, and eliminate any garbage or debris. - Sell The Location
Location is always important when it comes to real estate, but it’s often the most important factor when selling a lot. Since West Volusia is surrounded by some of the best beaches in the world and is just a short drive from Orlando, selling the location shouldn’t be too hard. However, do what you can to also promote the neighborhood and local community as well as upcoming local development that will help to increase property values. - Understand Zoning Restrictions
Buyers will want to know exactly what they’re able to do with the lot, so it’s essential to understand how the land is zoned before listing it on the market. Is the land only zoned for a residential property? A commercial property? A farm? The last thing you want to do is mislead buyers with incorrect zoning information. Knowing the zoning restrictions also will help you better market the property. - Partner With A Good Agent
An experienced real estate agent plays a critical role in the land selling process. From sourcing buyers to negotiating a deal, the quality of your agent can have a huge impact on your sale price. You want to work with a professional who knows what they’re doing.
If you’re looking for a good agent to help you sell land in West Volusia, contact us at Palmetto Realty. We’re experts at selling land and nobody knows the Volusia County area better than our agents. We’d love to help you list your lot today!