Thinking about selling your land? But you want to cut the cost of hiring a realtor. Though it’s a budget-friendly option, you need to do some homework. Thankfully, I have done half of your task. What you have to do is follow the steps on how to sell land without a realtor from this article.
Selling land without a realtor means you have to do marketing, pricing, and paperwork- all by yourself. And what most people get worried about is the paperwork.
But you don’t worry. This article has everything you need to know for selling land without any realtor and some bonus tips to avoid common mistakes and maximize your profits.
7 Steps of How To Sell Land Without A Realtor
Many people hire realtors because it seems like the easiest route, but you should remember that it’s also the most expensive option. In 2023, the National Association of Realtors did a survey on different property selling procedures. And the result shows,
“Around 8% of all home and land sellers opt for the For Sale By Owner (FSBO) route.”
Selling land without realtor means selling land by the owner. It might seem impossible and challenging but actually it’s not. With proper research and strategies, you can sell your land and save some money at the same. Here are 7 steps-
Step 1: Define Land Value Based on Major Facts
Before anything, you must have an idea of what your land is worth. Selling land isn’t like selling a house—there’s no kitchen remodel to boost the value. Land value depends on several key factors, such as
Location: Lands close to any developing area or highways have a higher value.
Size and Topography: Flat, developing lands are sold faster than hilly or uneven terrain.
Zoning: Is it residential, commercial, agricultural, or industrial? Each land has its beneficial land value.
Utilities and Access: Lands with more utility access have higher land value.
Market Trends: How much such acre of land is sold and what trend value is going on real estate market?
Pro Tip:
Check out online land listing websites, like LandWatch or Zillow, to compare similar lands in your locality to get land value ideas.
For a deep dive into local land prices, consult any land appraisers in exchange for a small fee or resources like the Federal Housing Finance Agency (FHFA) for real estate market trends and statistics. You can find recent reports on land prices based on different states.
Step 2: Clean Up Your Property for an Attractive Look
A clean, well-maintained piece of land will attract more buyers. Sure, you’re selling dirt, but the presentation still matters!
So, clear out any debris, mow the grass if needed, trim overgrown bushes, and remove any structures or junk from the land to make it look tip-top.
Pro Tip:
Hire a land surveyor to mark the boundaries. This will clarify any confusion about land size or usability. A surveyor might cost between $300 and $1,000 depending on the location and size.
Step 3: Gather Important Documents for Paperwork
Selling land without a realtor means you have to deal with the paperwork yourself. But don’t panic—it’s manageable! Here’s what you need:
Deed or statement as a Proof of ownership.
Tax information with updated property tax pay receipt.
Zoning information on how the land can be used including permissions and restrictions.
Survey (if needed) showcasing a clear boundary map.
Pro Tip:
Get a property title to avoid paperwork hassle. This helps with financial securities and clarifies that there are no hidden claims and it’s a legitimate sale.
Step 4: Market Your Land Like a Pro
Now, it’s time to get the word out! IN this stage, you need to make sure your listing stands out both offline and online.
For online marketing, use platforms like LandWatch, Zillow, Craigslist, or even Facebook Marketplace to list your land for sale.
Make sure your listing includes high-resolution photos and a detailed description. Make sure to highlight the land’s best features, such as proximity to local attractions, zoning options, and utilities to attract the best buyer.
According to Redfin,
“Home & land listings with professional photos get sold 32% faster.”
Also, make the description or sale post highlighted and catchy. For example, instead of just writing, “5 acres of land for sale”, add some spicy line to keep the flame rising among viewers.
Pro Tips:
However, while marketing your land for sale, don’t underestimate the power of a good, old-fashioned “For Sale” sign. Place it at the edge of your property, where it’s visible from the road. And don’t forget to add your phone number or email for contact.
Step 5: Set a Competitive Price
Pricing is crucial. If you set your land price too high, it might take years to sell your land. Contrarily, if you set it too low, there is a high chance that you will loss a big profit. So, it’s better to research similar properties and determine a price that’s competitive but fair.
For instance, in 2024, the average land value in rural Tennessee is about $3,000 price per acre, while in suburban areas, it can be nearly $15,000 per acre.
Step 6: Negotiate & Close the Deal
When you get an interested buyer, be prepared to negotiate. Buyers might come in with lower offers, but that doesn’t mean you have to accept them. Be firm, but open to a reasonable compromise.
Pro Tip:
If you feel uncertain about negotiations, hiring a real estate attorney might help. They can help draft contracts and ensure everything is legal without costing you realtor fees.
Step 7:Transferring Ownership with Paying Taxes
Once both parties have agreed on a price, it’s time to close the deal. In this case, both must be clear about the price, closing date, and any contingencies.
Sign the contract or disclosure form for the deal closing. And this usually takes 1 to 2 months to close selling the offer. Using any trustworthy money exchange service, ensure the money.
Ensure that all property taxes and liens are paid before you transfer the ownership. Unpaid taxes or other fees might delay the entire deal.
Pro Tips:
For money transfers, you can use Escrow. It’s pretty reliable to handle the exchange of money and documents. They ensure the buyer gets the deed and you get paid. Escrow fees typically range from $500 to $1,000.
Conclusion
According to the National Association of Realtors (NAR) report,
The average real estate commission is 5-6%, meaning on a $50,000 land sale, you can save $2,500 to $3,000 only if you sell without a realtor.
So, when you sell land without realtor, you’re about to cut the middleman. And cutting out the middleman here means saving extra costs to a large extent.
However, after reading this article, we hope that you have learned the process of how to sell land without a realtor and save thousands in commissions.
Sure, selling land without a realtor involves more hard work, but with proper preparation and research, it’s completely doable with the best possible deal ever.
Besides, if you want a quick, hassle-free solution to sell your land with all-cash deals, working with the Super land Buyer can be a beneficial and efficient choice.
Frequently Asked Questions
How long does it take to sell land without a realtor?
It takes around 1 to 2 months to sell land without a realtor depending on some factors like location, demand, and how well you market and negotiate the deal. On average, it can take about 60 days, or sometimes, it could be sold faster. If the land is priced right and promoted effectively, it can sell quickly.
Can I sell land online without seeing the buyer?
Yes, you can sell land online without seeing the buyer in person. Many sellers and buyers complete land transactions virtually using online listing platforms and secure payment methods. For negotiations, you can communicate through email or phone, and the legal paperwork can be processed through electronic signatures and wire transfer methods like using Escrow services.
Is selling land without a realtor worth it?
Of course, selling land without a realtor is worth it, especially if you want to save on commissions and have full control over the process. It takes a bit more effort on your part, like handling marketing and paperwork, but the cost savings can be significant and pleasant.
How to sell land without a realtor in Virginia?
To sell land without a realtor in Virginia, start by researching local land values, preparing your land for sale, and listing it on online platforms. Virginia law requires you to complete a property disclosure form, and it’s wise to hire a real estate attorney to help with the contract and closing process. You’ll also need to transfer the deed once the sale is complete.
Do you need a lawyer to sell land in Georgia?
Well, it’s not compulsory, but it’s recommended to have a lawyer to sell land in Georgia. In this case, a real estate attorney or a land appraiser can help you prepare the necessary legal documents, and ensure the transaction complies with Georgia laws.
Can you sell land in Texas without a realtor?
Yes, you can sell land in Texas without a realtor. You’ll need to research comparable sales in your area, create a listing, and handle the negotiations and paperwork all by yourself. Texas law requires proper documentation, like a deed transfer, tax report, etc. to ensure a smooth deal closing.
Do I need to get my land surveyed before selling?
Though it’s not necessary to get your land surveyed before selling, it can be helpful. A survey clearly defines property boundaries, which can avoid disputes and confusion which results in potential and trustworthy buyer.