Selling a house or apartment is relatively straightforward for a seller or real estate agent. Buyers can walk through the space, picture their furniture in the home and imagine themselves living there. Vacant land, however, presents a different challenge. It’s a blank canvas, and the key to attracting buyers lies in igniting their imagination.
In this article, I talk about the pro tips we use for selling vacant land so sellers get the price they need in a realistic time frame. We’re selling not a piece of land but a dream property. In this article, I go through the steps we take to position the property.
Step one: Understanding the land
Before we do anything, we assess the condition of the land and the access to utilities and amenities.
- Condition: Is it cleared and levelled or does it need some work?
- Location: Is the property on a busy road or is it semi-rural? We need to mention proximity to schools, hospitals, shopping centres and public transport.
- Utilities and services: Is the land connected to essential services like electricity, water, sewerage and internet? If not, how easy will it be to get connected to essential services or what alternatives (such as water tanks) are possible?
Step two: Who is our buyer?
The next step is identifying our target market. Who’s the most likely buyer for your land?
While our potential buyer isn’t as obvious as they might be for a house, some possibilities include:
- Investors: Are you selling land with potential for future development or subdivision? We would target investors who may be drawn to the vacant block’s long-term value.
- Home builders: Families or individuals looking to build their dream home could be a great fit. If home builders are our market we highlight the benefits of a custom build on your land. (More about that later.)
- Land banking: This can be an option for buyers acquiring land for future use, such as building a holiday home or waiting for development opportunities.
Step three: Marketing strategies to inspire
Once we’ve decided on our primary target market and the land’s strengths, we can get going with our marketing approach.
- Partnering with builders: We’ve collaborated several times now with a builder, G. J. Gardner Homes. One of their representatives will visit the land, choose an optimal building site and provide professional renders of potential homes on your land to showcase the possibilities. In essence, they create a house-and-land package that’s highly appealing and helps buyers to a faster decision. Here is a sample of one of their rendered homes on a block I sold recently at Henley St, Stratford via Gloucester.
- Leveraging technology: We use online real estate platforms like realestate.com.au and Domain. These are essential for reaching a broad audience. We also insist on getting professional photography as most buyers look online first before making an enquiry. Photography could include drone shots and clearly marked boundaries so buyers understand what they’re getting.
- Using social media: Don’t underestimate the power of Facebook and Instagram. Targeted social media ads can put your land in front of the right viewers.
- Traditional signage: Despite our online lives, there is power in a well-placed ‘For Sale’ sign for capturing the attention of potential buyers driving by.
Step three: The details
We aim to inspire so we’ll go all-out to highlight our local lifestyle, emphasising the natural beauty and recreational opportunities in our area. We’ll also have information on hand about zoning regulations, easements and any restrictions on land use. Of course, we’ll have researched comparable land sales in the area to ensure a realistic asking price. Sometimes we might suggest getting a full land valuation. Getting the price right will help attract buyers and potentially lead to a faster sale.
Strategy wins
Selling vacant land in NSW requires a strategic approach. By understanding the target market, showcasing the land’s potential and implementing creative marketing strategies, we can transform the perception of your plot from an empty space to a highly desirable property. This way we aren’t selling land only, we’re selling a dream and a future.
Need advice on selling your Gloucester region property?
As a proud local, I’m here to guide you through the process of selling your home. I specialise in lifestyle, rural and residential properties. I’ve done it myself and helped many families over my career. So give me a call; I’m here to help.