When it comes time to sell your land, you are left with 2 options: hire a land broker to represent you and sell your land or try to sell the land on your own, commonly known as “For Sale by Owner.” 

Both avenues may have some benefits, but when looking at most situations, I feel it is advantageous to hire a land broker to help with this life-changing decision.

Accurate Pricing

For those who do decide to handle the selling process on their own, they typically do so for 1 main reason: to “save” on not paying a real estate commission. While on the surface it may seem like a good idea to save the 5-10% commission that land brokers typically charge, this “savings” may end up costing much more than this commission. 

The first step of any selling process is deciding what price you want to list your property for. Land brokers have a strong understanding of what land in your area is selling for and can help price your property at a price that will maximize what you get for your property. 

If trying to sell your property on your own, you may underprice or overprice your property, both of which will impact the price you get for your property. Underpricing is pretty straightforward: if you ask for less than your property is worth, you may end up accepting an offer that is well below market value. Overpricing also has a negative effect since buyers will often overlook overpriced listings. As a result, your property may not sell for an extended time or even not sell at all.

Better Marketing

Land brokers typically spend thousands of dollars a year on different marketing strategies and subscriptions to the top land-selling websites. What this ultimately means is when you list your property with a land broker it will get much more exposure to buyers. 

The more exposure your property has and the more buyers your property is in front of typically means more offers and a higher sales price. When selling land on your own, the number of buyers who see your property will be limited to your friends, family, and local network.

Negotiation Expertise

Selling land is an emotional decision, and hiring a land broker helps you control your emotions and act as a buffer between you and buyers. Negotiating a land deal and coming to terms that both sides are happy with can often be a tricky situation to navigate. 

A land broker can talk to both sides in terms that will help get the deal done while maximizing the amount you get for your property. When selling on your own, you may accidentally give up crucial negotiating information to the buyer that will affect what you get for land. This could include things such as telling them your “bottom dollar” or expressing why you are motivated to sell. These things may let a buyer know they can get the land for cheaper than its true worth. 

Industry-Specific Knowledge

Another aspect of selling anything is talking to buyers and answering their questions. This can typically be very time-consuming and results in lots of conversations that don’t lead to a purchase. As a land broker, these conversations are part of the job, and seasoned land owners typically learn which questions to ask that will determine if a buyer is serious about buying a property. 

As a “for sale by owner”, you as the owner will be responsible for taking these calls and having countless hours of conversations with buyers. This can cut into the time you’re focused on your job or take away from time you could be spending with family, friends, or other hobbies. 

Most individuals only experience selling land a handful of times in their lives. However, a land broker may be involved in these transactions hundreds of times throughout their career. This experience allows land brokers to help you through the process, ensure the land is sold using the proper contracts, and follow each step to get your land to the closing table. 

Selling land can be one of the biggest financial decisions someone has to make in their life. It is important that you work with a professional who can help guide you through this process and ultimately maximize your return on the land. 

If you’ve got questions about selling your land, get in touch with me at Aland@NationalLand.com or reach out to your local Land Professional!