If you are looking to sell a vacant plot of land in Florida, you know how difficult it can be. From selecting an agent to finding a buyer, it can seem hopeless. Don’t worry, we are here to help get you on the right path and your land sold.
Considering the current state of the economy, selling property right now might seem like more of a write off than a wise financial decision. You know that your land is still valuable, but the market just doesn’t seem to reflect that. Even though new homes are constantly being built and families move in to fill them, it seems that fewer and fewer people are looking to invest in vacant land. Therefore, it makes sense that you should seek out professional help.
If you go through a real estate agent, you might expect to get the perfect rate, but this isn’t always the case. Selling land is not the same as selling a house. Not all real estate agents will be prepared to take on a vacant lot and sell it knowledgeably. They would need a different set of skills to negotiate and spark interest in the property than those they use to sell homes. This isn’t to say that you don’t have any options. You could try selling on your own or going through a different type of professional. If you are unsure of what to do, we are here to help. We will take through exactly how to sell vacant in Florida and get you set up with the best course of action. Let’s launch into it!
Finding the Right Real Estate Agent
Your first thought was probably to contact a real estate agent. This is understandable as you would do the same if you were selling a house. If you’ve considered using an agent, let’s first go through what you should expect from working with these types of professionals. You may find that this is not the best option for your situation.
Before you settle on just any real estate agency, you will first need to research who has experience selling vacant land. Selling land is completely different from selling homes so keep in mind that you will not be able to go with the standard options. You want an agent qualified and experienced with your type of property.
Also, consider that most buyers interested in purchasing a vacant land will be looking to build their own properties. These could be homes, businesses, or even apartment complexes and condominiums. If not, you could come across buyers looking to use the land for agricultural or mining purposes. Some buyers will even be looking to develop and then flip the land for more profit. Before selecting an agent, have an idea of the type of buyer you want to sell to. Your agent will need experience working with the type of buyer you are interested in. They should know the legalities involved, such as zoning regulations, and have contacts skilled in surveying and assessing land quality.
What an Agent Can Do for You
Once you have found the perfect agent, they will then begin marketing your property in a variety of different ways. They should first hire a photographer to take professional photos of the land. If you rely on your own skills, you may end up with unsatisfactory images that hurt your sale in the long run. After all, taking quality photos of a subject is quite different from photographing an empty lot. A photographer will consider the best time of day to shoot, how to frame the images, and how to best work the features of your land into the photographs. This will, of course, cost you some money but it will help to market the property.
From here, your agent should work together with you to create an attractive and well-worded listing. Include your property’s history and stress what potential buyers could do with the lot. This will help to boost their interest and connect them with the overall image you’re trying to convey.
As buyers become more interested, your agent will arrange meetings and bring buyers around the view of the land. If a buyer puts in an offer, the agent will also negotiate on your behalf, taking much of the stress off your back. This is one of the main reasons why sellers often go through an agent rather than doing it themselves.
Downsides of Going Through A Real Estate Agent
The benefits of going through a real estate agent are pretty clear. They will take care of the majority of the work and get your property sold at the best rate. If you can afford an agent, you’re paying for the ease of not having to interact with buyers, create listings, or worry about negotiating on price.
However, working with a real estate agent comes with its own set of drawbacks. If you do not live in the right area, you may struggle to even find an agent experienced with selling vacant land. Even if you do, they may not have experience selling to your intended market. Often in more rural areas, land agents deal more so with agricultural buyers. If your lot is not large enough to meet the requirements of a farm, you may find yourself out of luck.
Even if you can find the perfect agent, going through this route will cost you quite a lot. Real estate agents charge premium commissions that will severely cut into your profit. If they struggle to sell you land quickly, you may be left feeling as if their commission was not duly earned.
Finally, when you do finally close on a sale, you will likely be responsible for paying any closing fees on top of the agent’s commission. When all is said and done, you will likely lose thousands of dollars by going through an agent, just for an easier process. If you are selling due to financial problems, it may not be the wisest decision to go with an agent.
Sell on Your Own
If you are in a financial bind and cannot afford to pay an agent, the good news is that you do not have to. You can always attempt to sell by yourself. Selling by yourself will require more work on your end but you will save on the overall fees. Remember that you will have to take pictures, create listings, bring buyers around to view the property, and organize every aspect of the sale.
Selling on your own will take more time because you will likely not be able to dedicate as much energy to the sale as an agent whose job is to sell properties. Between viewings, negotiations, and closing, expect to spend hours working to sell your home. We know, it’s a lot of work.
Even beyond the amount of time you have to put into selling, you shouldn’t expect to find a buyer too quickly. Without a dedicated marketer, it will take long to spark interest in the community, and you could spend weeks or even months looking to secure a buyer. If you are in a financial bind, selling solo might also not be the best option available.
But don’t worry. There are options beyond selling through an agent or on your own. If you don’t have the time or money to wait, we recommend going through a land-buying company such as My Florida Home Buyers. Let’s take a look at how we can help you out.
How My Florida Home Buyers Can Help
Rather than spending buckets of money on a real estate agent or losing precious time by selling on your own, by going through our service, we can guarantee a quick sale at a fair price. If you need cash now, we can offer an upfront payment without any hidden fees. Skip all the stress of selling and get the money you want as soon as possible.
The process is simple. You can either call or submit your information online and we will reach out to set up a meeting to assess your property. Just let us know the address and the current condition of your property. We will also need to know if there are current occupants, though if it is truly vacant, we assume not.
Once we have set up a meeting, we will come and assess your land, take a few photographs, and conduct some market research to provide you with the absolute best price possible. Once everything is squared away, we will come back with an offer and, if it’s suitable to your expectations, we will settle all the legal proceedings for you. There’s no need to stress about going through an attorney because we will take care of it for you.
The sum we offer you is a net sum, meaning that what you see is what you’ll get at closing. We will cover all the closing fees and are completely transparent about not hiding commission fees, unlike many real estate agents. Once everything is settled, we will have the paperwork sent over for you to review and sign, get it notarized, and in a few days, you will receive either a check or cash deposited directly into your bank account.
If you do not approve our offer, you’re not obligated to accept. We aim to please and understand that some landowners are looking to get more than they would in a fast sale. Just keep in mind the downsides to selling on your own or through an agent that we discussed up above.
What Is Your Obligation?
The only thing we ask is that you are completely transparent about the property. Though we will come by and assess the land, we won’t know about any possible financial problems until we go to close. If there are any liens on the property, we will have to pay for those out of the initial offering, meaning that you won’t get the total amount originally offered.
Besides that, you are free of any obligation. We don’t even ask that you tidy up the property. We are accustomed to working with homes that need repairs or underwent foreclosure so, as long as you meet our criteria for sale, we are prepared to deal with your property. We work by offering our clients the best price for their land, putting some work into it, and then reselling on the open market.
There’s not even a risk of applying for an appraisal. Perhaps you are just interested in finding out your land’s basic value. We can come by and do an assessment and, if you’re unsatisfied with our offer, you are not obligated to continue pursuing our services. From the time we make an offer, it’s completely your decision whether or not you are ready to sell. All we need is your name, number, and address and we will see how we can help.
Conclusion
If you’re sitting on a vacant plot of land, don’t struggle to sell because of the current state of the economy. If you are experiencing some financial troubles, selling can be an excellent way to pad your pockets. But we understand that selling land is far easier said than done. While you are considering going through a real estate agent, it’s important to understand why that may and may not be the best option.
Real estate agents can certainly simplify the process but finding one experienced in selling land to your ideal type of buyer can be difficult. After all, not all real estate agents are prepared to handle a land sale. Then there’s the cost of paying closing fees and an agent’s commission. At the end of the day, you’ll lose more than you want and that’s not what you need right now.
Of course, selling on your own is an option but understand that this is not an easy route. Unless you are willing to dedicate a lot of time and still wait to find the right buyer, we do not recommend it. Instead, let us help you out. Here at My Florida Home Buyers, we are ready to make a fair offer on your land and get it sold in no time. Come by our office if you are in the Orlando, Florida area, or give us a call at (352) 519-4512 to get started on your sale.