Vacant land is a highly valuable asset, especially in a high-growth area like DeLand, Florida. If you own land in the area and are interested in cashing in your investment, it’s a great time to do so – especially if the land is cleared and suitable for residential or commercial construction. DeLand’s population has grown by more than 110,000 people since 2000 thanks to its small-town vibe, beautiful weather, and proximity to Orlando and the Florida coast. As a result, land continues to be a hot commodity around the area.
Selling land is a bit different than selling a home and the process can be complicated. It’s important to understand the type of land you own as well as any zoning restrictions or easements that might restrict the usage of your property. The listing and closing processes are also much different. As a result, we don’t recommend going through it alone. If selling land quickly and earning the highest possible return are among your goals, here are some tips to help you with the process:
1. Find An Experienced Land Broker
To help you navigate the complexities of the local land market, it’s highly recommended you find an experienced land broker to guide you through the process. You should also pick one who is familiar with the area, as they’re more likely to be up to date on the current state of the local market. A local agent will also have a huge network of professionals (land surveyors, real estate attorneys, and closing companies) to help support you through the deal.
When it comes to landing the highest return on your land sale, a good agent can be the difference that results in thousands of dollars back into your pocket. One of the most difficult parts of any real estate transaction is figuring out the right asking price. If you price your land too high, your land may sit on the market too long and buyers might begin to wonder if the property has some issues. Price your land too low, and you’re leaving money on the table. A land agent can help you set the right asking price using DeLand-specific land sales reports, and they can also help you negotiate the best deal.
2. Determine Your Buyer
When selling a home, identifying your buyer is fairly straightforward. However, vacant land can be used for all sorts of things, so selling it requires some upfront work to determine who is most likely to be interested in purchasing the property. Before you can determine how to market your property, you need to identify and understand your buyer.
Spend some time thinking about your land’s best traits. Consider its location, any zoning or easement restrictions, growth potential, accessibility, and construction feasibility. What can the land be used for?
For example, if the property is centrally located in DeLand, the land is cleared, and it has road and utility access, then it may be a good fit for residential or commercial development. If you own tons of acreage and the property is in a more remote area of the county, then perhaps the land could be more appealing to hunters or farmers. Once you know your target buyer, you can be better positioned to market your property appropriately.
3. Promote Your Listing
The market for vacant land is much smaller than the market for homes, which means you may need to do some additional marketing to attract buyers – especially if you want to sell quickly. Once you’ve determined your target buyer, work with your agent to map out the best strategies for reaching them. Listing your land on the MLS will help ensure it’s picked up by popular real estate websites like Zillow and Redfin; however, these sites are primarily used by home shoppers. As a result, you and your agent may also consider promoting the land on social media or contacting land acquisition to see if there is any interest. If your agent specializes in land deals, they may already know of someone in the market for land in DeLand.
If you’re selling land in DeLand and need an experienced local land broker to help source buyers, negotiate a deal, and guide you through the closing process, look no further than Palmetto Realty. Not only are we reliable, responsive, and professional, we’re also highly skilled and experienced when it comes to land transactions.