Why Real Estate Agents Struggle To Sell Land
Do you own a parcel of land that you are considering selling? Maybe your interest is the opposite, and you want to purchase a large tract of land? Whatever the reason, one thing to keep in mind is that not all real estate agents have the skills and know-how to get you the best deal when buying or selling.
Let’s look at the reasons why real estate agents that specialize in residential sales transactions might not be the best fit when it comes to vacant land transactions.
Home Buyers are Different from Vacant Land Buyers
For individuals and families looking to settle into a traditional 3/2 home on a corner lot, finding and working with an experienced real estate professional is usually a simple thing.
A single drive down any road can reveal potential agents and the properties they represent. However, it might not present a clear picture of whether a real estate agent is adequately informed about how to market land properties specifically.
Homebuyers are different from vacant land buyers because they aren’t especially interested in starting with a blank canvas. Of course, they might be agreeable to updating appliances, new paint schemes, and new flooring, but they’re primarily looking for new construction in subdivisions or homes in already established neighborhoods.
Residential home agents have a lot to work with when presenting those properties over vacant land. A vacant land buyer is different because there’s a good chance that they want to do more with their property than live in or build a home. If a real estate agent doesn’t know how to present a listing without using the attributes of a dwelling as the primary focal point, then you, as a client, might become frustrated when it fails to sell in a timely manner.
Selling Land is Different from Selling Houses
Other than the obvious fact of why vacant land is different from land with houses on them, why should you care whether an agent is knowledgeable about land transactions or not?
If your goal is to build a new home from the ground up, then there are many specific details that must be covered before breaking ground on the project. Where will your driveway go? Are there utilities onsite? Does the land perc?
If you’re new to the real estate game and are unsure about any of these and other similar questions, then a traditional residential real estate agent might not know the answers. Someone experienced with selling land can quickly answer these questions or direct you to someone who can provide the solution.
And to answer the above question: A perc test is a soil evaluation test that tests how fast water drains through the soil and whether the selected area is suitable for a septic system and to build on.
The Vacant Land Market is Less Active
You’ll find residential home listings for sale probably every time you leave your house, whether going to work or going to the grocery store. These listings are usually advertised by bright, colorful signs that promote the property and the company that holds the listing.
That’s not necessarily the case when it comes to vacant land. Thevacant land market is less active than the residential home market because, frankly, there is a finite amount of vacant land.
Selling Vacant Land to Buyers
For undeveloped land, the pitch is more about the possibilities and opportunities when marketing to interested buyers. If a residential agent only knows the benefits of having a half bath downstairs for visitors and not a half acre with a garden spot, then you might be wasting your time.
A professional specializing in selling land often has access to a national database that lists only available land properties for sale. In comparison, residential agents might only have access to properties with homes already on them.
Suppose it’s your dream to own a mountaintop retreat for recreational purposes such as hunting and fishing or to own a small farm out in the country. In that case, the first step in pursuing that dream should be finding a reputable company specializing in vacant land to make the whole process go smoother.