Selling land is something you’ll probably rarely have to do in your life. And unless you know a local real estate agent who will sell your land for free or a hugely discounted commission… it can be a real challenging and expensive process for you as well.
So… you landed on this page about “How to sell your land by yourself in Tennessee” because of a few reasons I’m guessing…
- You have very little equity in your land so you can’t afford to pay realtor commissions
- You have equity but want to try to save money selling the land yourself before you resort to hiring an agent
- You’re in foreclosure (or heading that way) and just need to sell fast without experiencing thousands in agent commissions
- You can’t wait the months and months it sometimes takes to sell land in Tennessee so you want to try to sell it more quickly
Whatever one you land in… there are ways to sell your land yourself in the Tennessee real estate market.
Since 2013, the real estate sector has been experiencing a major recovery. Selling your land at this time will be profitable if you do it right. In most cases, it is about using smart marketing strategies and being realistic about your expectations on what you want to achieve with this sale.
This article will provide some guidelines to help you sell your Tennessee land yourself.
How To Sell Your Land By Yourself In Tennessee – Let’s Get Started
Know The Tennessee Real Estate Market Well
The first and most important step is doing a market research on your neighborhood in Tennessee. This step involves visiting various land marketing sites (Zillow, Landwatch, etc), calling a real estate agent or two to see what your land is worth, or reading about various market pricing techniques. Proper homework will allow you to come up with a right price for your land and also helps you to avoid making certain selling mistakes.
If you don’t want to hassle with trying to come up with a land value yourself… give us a call at (844) 558-6880 and we’ll give you an honest fair valuation of what your land is worth on the retail market (if you’re willng to wait the 3-6+ months to find the perfect retail buyer). And if you want to… we’ll make you an all-cash offer on your land to give you that option of selling quickly (we can close in as little as 14 days ).
Assess the market
This step is very similar to conducting market research, except that in this case, you are bound to your neighborhood and similar land. Are there lots of land parcels for sale in your neighborhood in Tennessee? If so, what is the average price they are listing for? Also, do the prices vary a lot? What is the price range of the listings?
Assess the land
As a seller, your land should offer as much as possible in order to sell at a good price. Identify certain unique characteristics about it and emphasize them during the marketing. For example, in Tennessee, unrestricted land is much more desirable as people want to have options on what they can do with the land.
Also, does your land require utilities? Does it need electric? Has it been “perked” or does it have septic or sewer available? Is a well needed? Does it have a view of the mountains or a lake? All of these things can make the land more attractive or less attractive depending on the buyer… which changes the price they’re willing to pay.
After all of this… come up with an asking price for your Tennessee land that is fair… isn’t so high it’ll take you 12 months to sell the land… but is attractive so you get a frenzy of buyers who are ready to buy it quickly.
Use Photos or Videos
Tennessee buyers are obsessed with media. Taking walk-around videos of the land and using the videos to advertise will enable you to reach a much wider market. In fact, these videos are considered more transparent than taking photos. However, this should not stop you from using the latter option since it is easier for some than to make a video.
So take some great pictures. Take a picture of the land that helps show it off. Take a picture of the land from a few different angles… people want to see the land before they ever hop in the car to see it. So having great pictures of your land online could be the difference between getting the right buyer quickly… and waiting months and months to sell. You might even consider hiring a photographer that specializes in real estate.
Get Your Land “Listed” On The Local MLS And Market It
You can find no or low fee real estate brokers these days who will charge you a few hundred bucks to put your house on the local MLS. This gets your land in front of all of the real estate agents quickly (so be prepared to pay those “buyers” agents a 4-5% buyers broker fee if you plan to have their support in helping you find a buyer.
All Of This Sound Like A Lot Of Work To Sell Your Tennessee Land Fast Yourself?
It can be.
And in the end, many Tennessee land sellers think they’re saving money and time by marketing the land themselves… when in the end it costs them more money to go that route.
When you sell your own land here are some things you need to consider…
- If you’re not a good marketer or aren’t ready to spend a bunch of time marketing your land properly… selling it yourself may not be your best bet
- If you don’t do a good job preparing the marketing materials… and working with buyers to really build the value of your land in their minds… you may actually sell the land for 3-8% less than you may get for the same land an experienced person marketed the land for you
- Too many sellers never think about holding costs or opportunity costs… every month that your land doesn’t sell means another tax payment, insurance, home owner association fees, etc. So, if you were able to sell that land more quickly… would it make sense for you to provide a buyer a discounted price today so you can close quickly and move on? Something to think about.
If you’d rather not put up the hassle of trying to sell your Tennessee land yourself… and would rather just sell it quickly for a fair price without paying any commissions or fees…
… here at Turbo Land Offers we actually buy Tennessee land.
We’d love to make you a NO OBLIGATION and NO HASSLE cash offer on your land.
We can close quickly (in as little as 14 days if you wanted to)… which would save you thousands of dollars vs. trying to sell land yourself and waiting for months.
Also, when we buy Tennessee land, we buy as is so you don’t have to worry about doing any further work to the property.
If you want to see what we can pay for your land, give us a call today at (844) 558-6880 or just fill out the quick simple form through the link below.