Today, I am going to show you how to sell a piece of land by owner. You know you might be in the situation were you’ve been holding on to a piece of land for the last 20 years. Today I’m going to show you how to get rid of it and get it off of your plate.
First, are you even legally allowed to sell your land by owner? Do you know how much money you might be paying to a real estate agent if you do sell with the realtor? Stick around to the very end. I’m going to show you some of the best strategies sell your land by owner.
I get this all the time. Is it legal for me to sell my land by owner? Do I need a real estate license? Do I need this? Do I need that? No! Absolutely not! It is totally legal for you to sell something you own. Now, If you’re selling something for somebody else. Let’s say, you’re trying to help your neighbor sell their land and you’re getting payment for it or even if you’re doing it for free you’re probably crossing a line and you actually need a real estate license. So it is not illegal whatsoever to sell a piece of land that you own.
Second, when you’re using a realtor to sell your land most of the time they are just sticking a sign out front and then just throwing it on the MLS. This is by no means I am bashing Realtors, but I am going to show you how to save tons of money, like 6%, and keep that in your pocket.
6% on $100,000 is $6,000. If someone told you if I was going to give you an extra $6,000 would you be willing to go out and put out 33 signs to advertise your land? Would you be willing to go out and take some nice photos or even hire the guy with a drone and pay around $150?
It would take you around 3 hours to put out 33 signs and it will cost you around $150 to get drone photos and video and pictures. In my eyes that’s totally worth it. I would trade $150 all day long for a $6,000 commission and who is going to want to sell your land more than you? The land you owned for the last 20 years, it’s been kind of a monkey on your back for longer than you want. So would you want to give the realtor a commission of 6% and you might just be one of their 30 listings?
We talked about getting pictures for your land. Now lets talk about the signs you need to put out to get some attention. I love getting the corrugated plastic signs that you could buy at home depot. The sign could be white, it could be yellow or it could be red. You just have to use a marker that will stand out and pop on the sign. Let’s talk about the marker, I love the black Magnum Sharpie permanent markers, that are thick. When you write on it people see it. Sign placement is also important. You want to put your signs where people can see it. You also have to be aware of any laws in the area that prevent you from putting signs. But you want to put it close to slow moving traffic and of course next to the road where your property is located.
Now, you’re probably thinking to yourself, “I don’t live near the land to put signs.” WRONG! You could easily hire someone from the Task Rabbit app to put up the signs for you for around $50. I know this because I do it all the time.
Third, lets talk about advertising your land. If you’re selling by owner I highly recommend putting it on social media and free listings sites. You can list it for Free on Facebook Marketplace, Craiglist, Zillow and Forsalebyowner.com. There are also many facebook groups that have a focus on buying and selling land. You can also pay for ads like facebook or google ads.
Social media is great for getting in front of people who are looking to buy or sell land and it’s also a great way to build relationships with possible buyers.
Now, I’m not saying that you have to spend a fortune on advertising. But I am saying that if you’re selling by owner it’s important to do as much as possible to get the word out there.
It might be a better path for forgo a real estate agent and sell a piece of land yourself. It can save you thousands of dollars in the long run. It’s also pretty simple and cheap to do. You just have to put in some sweat equity.