Should you list your rural Alabama land with an agent or try to sell it on your own? That is a dilemna that many landowners face, and it is a fair question that deserves a thoughtful answer.
Because I am an a professional land agent, my opinion will be honest, but will certainly be biased. So in an effort to be objective, let me point you toward a comment I read recently from financial expert Dave Ramsey. Mr. Ramsey was asked if he would recommend using a Realtor or trying to sell FSBO, and here was his response: "I have had a real estate license for 30 years. Were I to put my personal residence on the market today I would use an active realtor that knows his or her stuff in the marketplace and gladly pay them commission." (You can see the full article here.)
I have written several articles about listing rural property with a professional land agent, such as "What to Expect at a Listing Appointment" and "How a Land Agent Earns His Money". These articles were written in an effort to educate landowners about the benefits of working with a quality agent and the services a professional will offer to help bring your transaction to a successful close.
Here are a few key thoughts about why a professional agent can help the average landower close a deal more quickly, smoothly, and get a higher price than if they sold it alone.
1. Has the pulse of the current real estate market in the area. A turbo-charged agent will be aware of the most recent sales information, will know exactly what buyers are looking for and willing to pay right now, and know what other properties are available that will be competing with your tract. In many cases the agent will be able to advise a landowner about the right asking price that is in line with current values and help you sell more quickly.
2. An Agent has a bigger network of buyers than a FSBO seller. In this market your property needs to be advertised to every prospective buyer looking for parcels like yours. A recent survey says that over 80% of land buyers begin their search online. A good agent will be advertising your property on all of the major land websites, among their personal network, print advertising, signage, and social media. This broadcasts your property much farther than you can do alone, and extends the marketing reach of your property world-wide.
3. An experienced agent helps lead to a smooth closing. An agent doesn't earn his money attracting buyers or showing property. The agent's work really begins when a buyer is ready to present you an offer. Negotiations, handling surveyors, inspections, and closing attorneys helps keep the deal on track. There is a remarkable amount of work that goes into most real estate deals in this market, and having a top-notch agent will help you achieve your goals.
There are many other points I could make in this article, but I will end with the simple thought that you may be able to sell your rural land on your own, but just like Dave Ramsey says, you will make more money and save more time by working with a high-octane real estate agent.
If you are considering selling your rural Alabama land, please contact me to see how the AlaLandCo team can go to work for you.
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