Buying lots and land. Is it too complicated? A real estate agent's perspective.
Updated: Jun 2
“Oh, you don’t want to mess with that land listing or sale! It is too difficult. You should refer it to the land guy in the office.” Bet you have heard that line before.
But is the purchase or sale of land really more difficult than that of a house?
I have been listing houses for many years and inevitably, problems arise but the same goes for land. Any time a property is listed or sold, there is a risk of something showing up. So, the more houses you sell, the more prepared you become to handle the unexpected. The same can be true for land. I have found the listing or sale of land to be easier for me, because typically, the client is not emotionally invested in the property, unlike that of a house.
Think about your own home. Years of memories captured in the four walls of your house. It can be difficult to say good-bye and know that another family will be living in “your home”. Severing the attachment can be hard for some clients leading to difficult negotiations and emotional decisions. A tough combo to say the least.
However, I have found that selling or listing a lot or a piece of land, typically does not come with the emotional attachment like a house does. In fact, clients seem to look at land logically. Simply, will the lot or land work for us?
For the sellers, can I make the most money selling the lot/land now or should I wait for the market to improve? Is the land in the path of growth and could it be more valuable later on? Can I wait for the market to change or must I sell now because of financial reasons? Is this an inherited property with siblings or family members that need the money now?
There are many factors to consider whether buying or selling. But for the sake of this conversation, let’s take a look at a few similarities. Once you see that the information you must research is similar for both houses and land, hopefully you will be more willing to embrace a land opportunity when it comes your way.
The list above shows a few of the similarities but there are many other things to consider when listing and selling land and houses. As you gain more experience, the perception of selling lots and land being difficult will diminish opening the door to many more possibilities for your business and clients. Want to learn more about how to properly research a property? Check out: “10 Things you Need To Know About Land”. An excellent resource to add to your real estate, home, or office library... or just carry as a pocket guide!”
Cheryl L. Sain has been in the real estate industry for over 20 years and has executed thousands of land transactions with investors, developers, national builders, and individuals.
This information is provided as-is and does not in any way make or imply any guarantees as to an outcome. You will need to evaluate the information herein and consult appropriate professionals such as surveyors, attorneys, tax accountants, or any other professional agencies or broker-in-charge to acquire the information and guidance you need to help you make the decision that is best for you.