Posted on: 6 September 2019
You picked up that piece of land because you thought it could be useful eventually, or maybe you even inherited it as part of an estate. However, you've held onto the place for quite a few years and there it sits: undeveloped and not useful to you. If you find yourself in this situation and need to quickly sell your real estate for some extra cash, you are going to need all the help you can get. Undeveloped properties are a little harder to liquidate because they do not look as attractive to most buyers. Here are a few marketing tips to remember when trying to sell real estate.
Find out if the property can be used as a homestead and work the angle.
Homesteading is making a big comeback among residential dwellers who want to lead a more sustainable existence. These buyers like undeveloped properties because they are usually much cheaper than others and can be used to grow small beds of crops, raise a few animals for livestock, and more. If there are no restrictions on the property, there is a good chance the property can be used as a homestead, so find out for sure and then market the undeveloped piece of land as a potential homestead.
Highlight the most desirable attributes of the property.
Even property that hasn't had anything done to it all can have desirable attributes, and it is best to highlight these attributes in your marketing efforts. A few examples of nice property features could be:
- Gently rolling hills
- Some shade available
- Nice open areas perfect for home sites
- Rich groundwater supply for a well installation
Likewise, if there are desirable things nearby, it never hurts to include mentions of these in the listing as well. For instance, if the property is only a few miles from the local college or just a short walk to a city attraction, these are things that can attract attention to a vacant lot.
Make note of how easy it would be to develop the property.
If you know how the property could be developed but just haven't done so yourself, it can be helpful to highlight the ease of developing. For example, if there is a main water line by the road front, you could state in a property listing that nearby public water systems are available. Calling out how easy it would be to further develop a piece of land can make it a little intimidating to buyers.Share