How to sell vacant land? This process comes with unique challenges and thus requires a tailored strategic approach. On the one hand, a realtor selling empty lots must comprehend the intricacies of zoning, taxation, and legal documentation. On the other, they need to master the art of marketing and visual storytelling to showcase a land’s potential to prospects.
As an architectural rendering studio, we daily help real estate specialists with the creation of engaging promo visuals. However, there are many other aspects one should consider to successfully sell vacant land. Wondering what they are? Read on!
#1. Get the Land Ready
Ensure vacant land is in its best possible condition before listing it. Clear debris, address environmental concerns if there are any, and highlight the land’s benefits. Remember that lots seem smaller with overgrown weeds. But some well-placed flowers here and there will make the land lively and inviting. Overall, a well-maintained property always creates a more positive first impression.
#2. Sort Out Zoning and Documentation
Navigate legal complexities early on. Confirm zoning regulations, obtain necessary permits, and prepare all relevant documents. Such a proactive approach minimizes delays in closing deals and strengthens buyer confidence in the transparency of the transaction.
#3. Build Relationships with the Community
When seeking answers to the question of how to sell vacant land, remember that one of the easiest ways to achieve this goal is by connecting with the locals. For instance, some neighbors might decide to expand their property by buying out the vacant land you’re offering. But you have to put the idea in their minds first. Just as well, you might find local developers who would like to collaborate.
So, foster relationships and seek direct engagement to sell the land efficiently. Participating in local events or sponsoring them, contributing to charities, and collaborating with small businesses in the area are just a couple of ways to do that.
#4. Visualize the Land’s Potential
Invest in professional visuals to showcase the land’s possible uses. High-quality photos will help here. However, you can go further to achieve the best results. For this, make the most of 3D visualization. You can use drone footage of the area combined with the 3D renderings of the buildings that can be constructed on land. This will help showcase its full potential. Check out our case study on creating 3D property rendering and animation for Compass Real Estate Agency to get a clear idea of how that works.
#5. Set the Right Price
Carefully determine a competitive yet profitable price for the vacant land. Consider factors like location, global and local market trends, and possible uses. A well-calibrated pricing strategy positions your property favorably in the market. When you think about how to sell vacant land, remember to avoid both overpricing and underpricing. The former will scare away buyers, and the latter might lead to missed opportunities.
#6. Get Listed on Reputable Platforms
When the preliminary work to sell vacant land is done, it’s time to start a marketing campaign. First things first, make sure your listing is at every reputable platform. The presence on well-known real estate websites, such as Zillow, LandWatch, Compass, and so on, increases the visibility of the land. Also, you should research and use smaller local platforms to maximize your reach.
#7. Ensure Prompt and Consistent Communication
Effective communication is the cornerstone of a successful real estate deal, and selling vacant land is no exception. Timely and consistent replies to potential buyers build trust and transparency throughout the process. So, respond promptly to inquiries and provide all the necessary details. The competition is high, so if you don’t pick up the phone, your competitors will.
#8. Don’t Forget Offline Marketing
It’s a good idea to employ traditional marketing channels in addition to digital ones. Use signage, brochures, and local advertising to capture the attention of prospects who may not be very active online. You should place a ‘For Sale’ sign near the property and along the busy roads nearby. Also, try asking local businesses to distribute your flyers. Put them on bulletin boards in the neighborhood as well.
#9. Be Flexible on Payment Plans
Increase buyers’ interest by offering flexible payment plans. Consider options such as installment plans or seller financing. This flexibility makes your vacant land more accessible to potential buyers with different financial situations.
#10. Provide Comprehensive Information
While visuals and ads can help to sell vacant land, you should also have all the info on it at hand. Be ready to provide it to prospects. Clearly communicate details on ownership, zoning, potential uses, available utilities, and any development plans. Such transparency helps buyers make informed decisions, streamlining the process of selling the land.
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See our pricingThere are many nuances to pay attention to when you think about how to sell vacant land. The process is different compared to selling a home and can be more challenging. But, if done right, it brings new opportunities. Just to name a few, selling vacant land means having a wider pool of interested buyers and often quicker sales.
Looking for architectural rendering services to visualize the full potential of properties you sell? Contact us to get 3D renderings, virtual tours, and much more for a reasonable price!
Stacey Mur
Content Writer, Copywriter
Stacey is a content writer and a CG artist. Outside of work, Stacey enjoys musicals, Star Wars, and art talk. A proud Corgi parent.