Have you ever considered selling your land without an agent? We’ve compiled a list of benefits that might make you reconsider. With real estate becoming more complicated, working with a land specialist could be your best option.
#1: Market Knowledge
A good Realtor who is specialized in land is consistently meeting with clients and city officials in regards to properties and areas that are ripe for development which allows them to acquire a vast market knowledge from an insider perspective. This information can then be compiled to strategically market properties and contact developers and investors that are actively purchasing in specific areas. Everyone has an opinion in regards to real estate but few can hear the latest news directly from the source, whether it be a developer, city official, construction contact, Realtors gather an abundance of information to help inform you regarding your property.
#2: Pricing Expertise
Real estate agents are immersed in the market on a daily basis and are able to evaluate your property’s value as accurately as possible. By reviewing surrounding parcels, analyzing your property’s potential and comparing recent sales, a Realtor can establish an asking price that will attract buyers and get the highest selling price. A reputable Realtor will also advise you regarding the best time to sell. We often find ourselves telling clients they should wait a year or two in order to get the highest possible value.
#3: Managing Communication
Real estate professionals have an abundance of methods in which they can market a listing to ensure your property gets the most exposure. With all of the outgoing communication, there is a lot of inbound communication which also needs to be managed. Most buyers require due diligence work and documents to be presented prior to presenting an offer which can be time-consuming and sometimes complicated. Realtors are able to complete this work on your behalf and also field calls to decipher the serious buyers from the noise. Real estate agents are also able to communicate back and forth with buyers to negotiate terms and prices that best suit your goals, all while keeping you in the loop. Having an experienced, unbiased third party involved can make the process more manageable and help with some of the emotions that come along with a big decision such as selling your property.
#4: Qualified Buyers
When a Realtor is in the industry for multiple years and selling consistently, their database grows exponentially. Within the development land segment, most large investors will purchase properties on a regular basis and soon become repeat clients. A Realtor can determine the quality of a buyer based on their reliability and trustworthiness during the contractual portion of sales. There is nothing more discouraging to a land owner than accepting an offer only to have it fall through due to financing issues or lack of research.
#5: Liability
Selling and buying real estate requires multiple legal documents throughout the process and it can take just one oversight to bring on negative legal issues. Real estate agents and their conveyancing team work with the same contracts and requirements on a regular basis. Their ability to edit contracts with terms and conditions to protect you is a valuable asset considering the alternative costs that you could incur if a legal issue arises. Realtors are bound by a strict code of ethics to look out for your best financial interests. An experienced real estate agent will do everything in their power to protect you, provide advice, and help avoid any legal headaches.
————— The bottom line —————
Buying or selling development land is quite complex and often requires industry connections in order to find the best buyer and to ensure the property is priced appropriately. More often than not, real estate transactions are the largest we encounter in life. This is why we strongly encourage buyers or sellers to do their research, meet with a few different realtors, gather their opinions, and then decide the most appropriate avenue for your situation.