Selling your land without a realtor can save you money, but it requires more work. You will need to handle marketing, negotiations and paperwork yourself. In addition, you may face legal risks. 36% of FSBO sellers said they made a mistake because of their lack of experience, according to Clever Real Estate. You should consult with a local real estate attorney and/or land appraiser to get personalized advice based on your specific property and market conditions.
The first step is to determine how much your property is worth. You can do this by researching comparable sales in your county over the past 1-2 years. Examine land size, location, zoning, accessibility and other attributes to gauge the typical value range in your area.
Overpricing is one of the biggest reasons land struggles to sell, so you will want to be realistic in your pricing. If you get low offers early on, it may be time to reassess your pricing strategy. Getting a professional appraisal will help you justify your asking price.
It’s also important to understand what buyers are looking for in your area. Some factors that influence land prices include upcoming infrastructure projects, commercial developments and neighborhood demand. Buyers may be willing to pay a premium for a piece of land with development potential.
If you want to avoid paying the commission fee that a sell your Kansas land without a realtor charges, you can hire a discount broker. These companies provide a listing on the MLS for a flat fee. Most still require you to offer a competitive buyer’s agent commission, but you will be able to save on the listing fees.
You can also advertise your property online on websites that cater to land buyers, such as landsofks.com or real estate listing sites like Zillow and Trulia. Targeted social media posts and print flyers placed in local businesses can also help generate interest.
A potential buyer will probably want to visit your property before making a final decision. Prepare your land for a showing by clearing brush, trimming bushes and other landscaping and cleaning up any unsightly debris or structures. Ensure your property is easily accessible, and consider installing a gate or fence where necessary. You can also hire a surveyor to mark the boundaries of your property, ensuring accurate measurements and identifying any potential encroachments.
Once you’ve found a buyer, the closing process can be lengthy. The buyer’s lender will need to perform an appraisal of the property, which can delay the sale. It’s also possible that the buyer’s loan will be declined if the inspection uncovers serious issues.
Another option is to sell your property to an investor. This can be a quick and convenient option, and can save you the hassle of dealing with potential buyers. However, you will likely be selling your land below market value.