When trying to sell your land, a parcel that sits on the market for too long will only end up working against you. In our latest post, we will help you learn how to sell quickly, avoiding a dreaded stagnant land listing.
When land sits on the MLS of weeks or months at a time, the odds of it selling decrease astronomically. It will drop down the list of available properties, getting viewed by fewer and fewer people. When it sits stagnantly for a period of time, potential buyers will begin to assume there is something wrong with the property. They might wonder “What are they not telling me?” Even if it is great shape, properties that stay on the MLS for a long time often become overlooked. Thanks to the MLS and listing sites such as Zillow and Redfin, prospective buyers can easily see price changes and how long a property has been on the market. Repeatedly dropping your price can make you appear desperate, giving people the idea they can offer a low price and you will accept. Below, we offer some insight as to why your land isn’t selling and what you can do about it.
Why It’s Not Selling
Priced Too High
If land is priced too high initially, people will move on. The listing will slowly move down the list so even if you drop to a more reasonable price, you won’t have as many potential buyers seeing your listing.
Bad Photos or Description
Any aspect of a bad listing or advertisement will make people look elsewhere. You have to grab their attention right away. Quite often, you can identify when someone has put in low effort and the listing has bad or limited photos. In order to have a successful listing, you should take the time to make sure there is a lot of light in the photos and even opt to pay a professional when needed. Paying a little upfront will make a big difference in how your listing is received. Make sure they go on a sunny day with blue skies and maybe a few clouds. You should also make sure the ad copy is spot on. Highlight the positive features and amenities of the land, making sure not to leave anything out.
It Looks Trashy
If the first impression of your land is poor, people will move on to the next option. If your property has a lot or trash or undergrowth that you can’t see through or needs a good amount of cosmetic work, a direct sale might be a more realistic way for you to go.
What A Stagnant Listing Is Costing You
The longer your land listing sits idly, the more the land ends up costing you. You will be sinking money into the land for the continued expenses such as HOA fees and property taxes. You will also have to consider the time and money you put into the land getting it ready for the MLS, sometimes all for naught.
What You Can Do About It
Avoid The MLS Altogether
Many people in Tennessee and around the nation are opting to sell their land to buyers directly. The process will free them from commissions, miscellaneous costs, and not knowing when the land will sell. At Turbo Land Offers, we are a team of direct buyers who can make an offer on your land right away. There is never any obligation. If you have tried to sell in the past without any luck, or if you simply want to sell without any cost or waiting, a direct sale is an option you should seriously consider.
Upgraded Marketing
If you decide to relist the property, you may decide to do things differently the second (or third) time around. If you are going to make the effort, do it right. Be willing to pay for a professional real estate photographer or videographer. Pay for featured and upgraded online listing options. Do whatever you can to quickly get your land in front of as many eyes as possible.
Set The Price Right From Day One
An unrealistic price will destroy a great listing faster than anything. People will immediately assume the land is beyond their budget or that you don’t know what you are doing. Either way, they won’t take your listing seriously. By pricing it right from the start, you will have a better chance of attracting prospective buyers and selling the land as quickly as possible.
Do you have land you want to sell in Tennessee? Whether or not you have tried to list the land in the past, we can help you avoid the waiting, hassles, and costs of a traditional MLS listing. Find out what a direct sale can mean for you! We always make offers for Tennessee land!