Although there are some investors in Detroit who buy land, finding the right person to buy it can be difficult. The market simply isn’t as large as it is for single-family homes. In our latest post, we offer some tips to sell your land fast! Selling your Detroit land can be much different than selling a Detroit home. You will need to get the property in front of the right people at the right time. You cannot expect to use the same advertising strategy as you would for a single family home. You’ll need to cast a much different net! We will provide you with a few things to consider below! Let’s discuss who will buy land in your area of the city.
Who Will Buy Land?
With a residential property, buyers can be found in all sorts of places. Land sales in the North End of Detroit are a bit different. You have to ask yourself, who is actively in the market to buy land in the North End neighborhood of Detroit? In most cases, the biggest investors who buy land are developers, investors, home builders and future homeowners. Marketing to each can be a little different. Investors will want to know the numbers while future homeowners will care more about the location and physical attributes of the land. Networking at local real estate and business events can help you establish the connections you need to get your land in front of the right people.
Compare Listing With A Direct Sale
Take a look at what is currently listed on the MLS. Are there many properties available? How long have they been on the market? This will help you better gauge what your land could potentially sell for. You will need to factor in marketing costs as well as commissions should you choose to work with a broker. You can also choose to sell your land to a professional investor such as Detroit Fair Offer. When you sell directly, you will receive a great price for your land right away. This saves you a ton of time if you are trying to put your cash elsewhere. Detroit Fair Offer will buy land in Detroit for cash.
Ask The Neighbors
If you don’t already know, find out who owns the land on either side of your parcel. You never know if your neighbor might be willing to buy land if they are given the opportunity. Approach them directly to see if they have any interest in expanding their property. Often times property owners will love the opportunity to have a larger yard. They could even choose to build on the land, creating a house for a family member! No matter who you are trying t sell to, help them use their imaginations about the potential of the land.
Don’t Work With An Agent Who Specializes in Homes
If you do choose to hire an agent to help you sell your land, make sure land is their specialty. Land agents will likely have a larger network of potential buyers at their disposal. They will often work with investors who repeatedly buy land. They will likely have more knowledge about development and environmental impacts affecting land values.
Beautify And Photograph Well
Great visuals will help someone who’s looking to buy land make a decision more quickly. Just as the visual aspects of a residential property are important when selling, so are the visual aspects of your land. When photographing the lot, hire a pro to capture the land with a drone or wide-angle lens. Ask them to implore techniques to help your property stand out from the others on the market. Make sure photos are taken with good lighting on a sunny day. If it is cloudy or raining, wait until things clear up before taking the photo. If the lot is overgrown, you will want to have professional landscapers come in to clear things back. Make sure the land is cleared of all trash and debris from previous structures. Some landowners will even go so far as to sprinkle wildflowers on the lot to increase its aesthetic appeal to people driving by.