Putting a piece of land on the market is typically easier than selling a home because there aren't any structures or land developments to deal with. But you can expect to have some competition when it comes time to sell, as your piece of raw land is sure to have company on the market. For this reason it's a good idea to make a few updates to the land that will help set it apart from the competition and increase buyer interest overall before putting it on the market. Consider one or more of these update options:
Invest in Land Surveying
One of the most effective ways to increase buyer interest so your land sells quickly is to have the land surveyed before listing it with a realtor. A surveyor will provide prospective buyers with land maps and boundary information so they know precisely what comes with their purchase. A land surveyor will also:
- Point out any abandoned roads or easements that affect the property.
- Outline any developed features, such as ponds, that can be found on the property.
- Pinpoint joint driveways and other shared features of the property, if any.
- Provide insight into water, electric, and gas pipeline availability and placement to aid potential buyers in their development plans.
With the benefit of land surveying, you can feel good about making sure that potential buyers are fully educated before making a purchase decision. And because of all the information a land survey provides, buyers can decide whether or not to purchase quicker so you can make a sale or move on without delays.
Have a Power Line Put In
Even if buyers plan to only farm or garden on the property after they purchase it from you, chances are that they'll want to develop an electrical system to aid in powering their endeavors. If they plan to build a home, an electrical system is essential. So to make sure that you appeal to all types of buyers, it's a good idea to have a power line installed at the front of the property so they can have a line put in after their purchase and without having to worry about additional installation fees or wait times to have the line put into place.
You may even want to have an electrician draw up plans for bringing power onto the property from the pole, along with a quote for the work so buyers can schedule to have the work done as soon as the property closes and without having to do any legwork themselves.
Focus on the Possibilities
You can also entice potential buyers by taking the time to feature possible uses for the property when you put it up for sale. Once you have the land surveyed and a power line put into place, take a close look at the property's natural features and make a list of suggestions about how the property can be used so the information can be featured in brochures, land listings, and flyers once it goes on the market.
If the property is already primed for gardening, let buyers know that all they need is a greenhouse, a power line, and some water to get their endeavor started – if you're selling a piece of land that's an acre or larger, you may want to mention that commercial opportunities are available.
If a portion of the land is concave, don't be afraid to highlight the fact that the property is ready for a pond. And if natural paths are formed throughout, mention that short hiking opportunities are available. The idea is to come up with possibilities that appeal to a variety of different buyers in a way that helps them imagine making their dreams come true on the property that you're selling.
With the help of these tips and tricks, you can expect to improve curb appeal, optimize buyer interest, and maybe even see a higher profit on the property when it sells.