How to breathe life into a tired old vacant land listing!

By
Real Estate Agent SL3270841

Now, I will be the first to tell you that I am NOT sure how this is going to work because I have just changed my listing.  However, if it does work, you gotta love the upside! 

Anyway, about three months ago I listed this vacant lot in a nice neighborhood.  It was priced moderately well to sell.  The listing went up, I promoted it, prayed over it, and nada....zip....zero response.  Knowing that my seller was somewhat anxious, I knew that if it generated zero interest in three months what are the chances that I would have buyers clamouring to buy it over the next nine months?I

My wife and I drove to the property to hopefully get some inspiration on how to market it.  After looking at the lot and the neighorhood, I was convinced that if there was a house on the lot, it would have a lot better chance of selling.  "That's it", I said, "we will get a builder to put up a spec home!"  My wife gave me her special "look" that said, "and how do you think that will work out for you, genius?!" 

Undaunted, I called Elaine Prezzemolo at Paradise Homes and explained what I wanted to do.  She politely explained that while it may not be feasible for them to invest in a spec home, she had a solution that may work even better!  She gave me all of the instructions on how to change a land listing to a residential listing by using a builder's model plan for new construction.  She gave me the price of the model without lot prep work, etc to which I added my seller's listing price for the land.  Voila!  From a $15,000 land listing, I was listing a new home on the land for $199,000 plus prep.  My seller pays commission on the land, Paradise Homes pays commissions on the home.  You do the math!  Here is the approved MLS write up: 

"This is a builders rendering. With inventory so low, build a new custom home. This home includes, 
wood cabinets in kitchen with granite, snack bar and pantry. Master bath includes roman tub, dual sinks and walk in shower.
Generous 13x19 master bedroom with bay windows.Huge family room and dining room for entertaining.
Family room can be made into den/office or fourth bedroom.
There is a formal dining room too. Split bedroom plan. * price does not include  lot prep, impact fees, utilities.
Call agent for appointment with builder.
 
Here are the other items needed to post into the MLS
3 bed
2 bath
2 car garage
1704 living area
2302 total area
 
MBed is 13x 19
LR is 18x 11.6
FR 13.5x23
 
The price for the house only without your clients lot:
$ 180,000.00
 
ADD your clients lot price to this and that is what you would put listing in for.
 
 
If this is the first time that you have read one of my blogs, I am a new Realtor from an entrepreneurial background.  After selling our last business, my wife Pam and I moved to Hutchinson Island, Florida from Maine.  After sitting on my thumbs for a couple of months, I decided to test my skills in real estate.  It is difficult to express the fun and rewarding experiences that we have had so far.  Hutchinson Island is a unique place to live, play, work, or visit and we have been literally embraced by the people we have met.  I am doing my very best to promote Hutchinson Island as THE best place to live. This is the current Market Insider.  If you cannot find your answers on my website www.easternfloridahomes.com, just shoot me an email and Pam and I will scout it out for you.  We look forward to any excuse to go exploring here.

 

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Topic:
Real Estate Sales and Marketing
Location:
Maine Cumberland County Portland
Groups:
Active Rain Newbies
Online Marketing Help Center
Tags:
foreclosures
waterfront
vacation
beaches
hutchinson island
short sales
real estate
rentals
florida
easternfloridahomes

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Ambassador
1,969,976
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living
Kenneth, that's a very creative way of marketing a vacant lot!
Sep 12, 2013 12:40 PM #1
Ambassador
1,597,025
Florida Tolbert Team Keller Williams Advantage
Keller Williams Advantage III Realty in Lake Nona - Orlando, FL
Keller Williams Land Division Specialist

Great content but you need to work on the names of your links to get more SEO punch.  Some of these might be NEW CONSTRUCTION HOME In PSL or VACANT LOT IN PSL or BRAND NEW HOME in PSL.  You get the idea I think..

Sep 12, 2013 01:41 PM #2
Rainer
72,705
Jack Whiteside
Realty Executives of Northern Arizona - Sedona, AZ
REALTOR

Great idea. That's thinking outside the box. I have two lots here in N. Arizona that as lots look pretty tired. With your idea, they're looking like winners. I'm going to pursue your idea.

Sep 13, 2013 02:15 AM #3
Rainer
27,172
Thomas Turner
Caliber Home Loans, Inc. - Shelton, CT
Tom Turner

Ken, great idea,  I have an agent I can pass this on to

Sep 13, 2013 03:04 AM #4
Rainer
147,400
Paul Collier
Patriot Home Mortgage - Huntington Beach, CA
Paul Collier

I have seen something similar to this work with great success. Everyone loves to pick their finishes, etc in a new house they like the floor plan of. This model sounds flexible and perfect for a family or empty nesters. All the best to you!

Sep 13, 2013 03:37 AM #5
Rainer
16,202
Kenneth Theobald
Hutchinson Island, FL
Your Keller Williams Realtor on Hutchinson Island

Thank you.   My builder pays 3% a side for a new construction.  The goal is to not only sell the land, but to increase the commissionable sale from $20,000 to $200,000. 

All the best,

 

Ken

Sep 13, 2013 04:20 AM #6
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Rainer
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Kenneth Theobald

Your Keller Williams Realtor on Hutchinson Island
We will treat you like family....maybe better! Give us a try.
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