Land sales are different than typical residential or commercial real estate transactions in several ways, and it is helpful to think through some of these differences listed below:
- What will the real estate be used for? Homes are used to live in, or rent out. Land can be used for a variety of activities, businesses and investments. Think through what your ideal buyer would use the land for and get familiar with those uses.
- What are the assets and improvements on the property? Land can have timber value, mineral and water value, roads, bridges and several more assets and improvements to consider during a land sale
- How do you advertise the land for sale? Land sales advertising has many similarities to residential and commercial real estate advertising, but there are also several different ways to advertise land and improve your chances of selling. With residential sales, you typically start with your local MLS and your website. You can start in the same place with land sales, but there are some specialty advertising sites that land buyers use, buyers that don't make it to realtor.com or the local mls website.
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