06/06/2022
☝️ Pricing can determine your success in attracting potential buyers, and pricing your lot or land too high is one of the biggest mistakes that sellers make…and regret. The wrong price will both scare away buyers from even inquiring about your property, and will cause your property to take longer to sell.
❗ Pricing land can be trickier when compared to pricing a home. Developed lots in communities may have a clear “market” price based on the recent sale of similar lots. Raw land, however, may have fewer “comparable” sales to use in determining your price. In addition, the price you ultimately can attract for a singular lot or undeveloped land can vary greatly depending on the buyer’s intended use of the property. For example, if a buyer feels that your acreage is appropriate for a high-end home development it likely will bring a higher price per acre than if a buyer only intends to build a single home on it.
🤑 Consider your own needs when pricing, and understand how pricing could impact buyers’ interest. When selling real estate, you sometimes have to choose between getting the highest price and possibly selling quicker. Plus, your pricing may be influenced if you need to sell for financial reasons. In addition to your own situation, pricing your property ultimately requires an understanding of the land market as a whole, why people are buying lots or land in that area and who these people are.
So if you want to save time and nerves, just contact us and we will buy your land and handle all the bureaucracy for you. 😉