So, you have a land in the market for quite some time now, and you’re still not attracting the right buyers for it. You’re getting frustrated.
Perhaps, you are taking the wrong approach. There are many strategies when it comes to land selling. However, not all strategies are effective. To help you set your selling strategies right, you need to know the common mistakes to avoid, such as:
Working with a Real Estate Agent Who Specializes in Selling Homes
It’s natural to think that an agent who sells homes can sell land, too. However, that is a completely different specialisation. Selling lots is different from selling residential properties. With that, when selling land, you need to work with an agent who specialises in land selling.
It is also not advisable to work with multiple agents because this will only confuse buyers.
Implementing Price Gimmicks
When selling land, you need to think like you’re a big developer, which means you shouldn’t get into gimmicky marketing. Why? They will not work in your favour, and usually, it will achieve a lower selling price.
In land selling, you need to be proud of your price and stick to it. Stand your ground, and you will attract the right customers.
Having Limited Advertisements
If you’re only advertising in one place, then you really would have a hard time selling your land. This is a common mistake we see in most land sellers today. If you want that land sold as soon as possible, you need to be highly visible. You need to be seen by different people, such as builders, display home sales teams and first-time homeowners.
That is why it’s important you know the market to position yourself effectively out there.
Not Investing in Good Land Presentation
The land you're selling must be well-presented. Therefore, even if it’s only a piece of land, make sure that it looks presentable. If the grass is too long or weeds are present, then this will make the land undesirable and unappealing.
Additionally, you need to have professional-looking “For Sale” signs on the land. As mentioned, think like a big developer and present the land well.
Letting Land Listing Go Stale
Listing your land and dismissing it is another common mistake we see. If there’s little interest in the land within two weeks of the listing, you will need to adjust it, but don’t disregard it.
If you’re not generating buzz, it’s likely you have listed the property in the wrong place, or you have a poorly written ad. Revisit your listing but don’t disregard it completely. For the most part, you only need to do a few tweaks with it.
Selling land is far different from selling a house. That’s why you need to implement the right strategies and know what common mistakes to avoid, such as the ones listed above. By doing so, it will help you develop more effective strategies that will let you have your land sold in no time. It also pays to have a professional guide you as they know the ins and outs of the land selling process.
If you’re selling land for development in the UK, specifically in Bournemouth, Dorset and Hampshire, we can help you here at Magna Property Developers. Our land acquisition team can help you sell your land. Contact us today!