The definition of acreage is a land that can be used for agricultural purposes, development or building and is typically measured in acres. Selling acreage can be stressful without the help of an experienced real estate agent because of the technicalities of selling land and current real estate trends.
? Selling Acreage is Different from Selling a House
Selling land can be more challenging than selling a house. Market trends tend to be different when you consider the two options. The needs of the buyer are also different than when they are searching for a house. Potential buyers who are searching for acreage may need the land for building or creating a pasture area for animals. Each need comes with its own expectations for the acreage. Selling land takes special knowledge of services available in the area, drainage, and property boundaries. Acreage may be set for specific purposes, which can make finding the perfect buyer a waiting game without proper marketing of the listing.
? Who Buys Acreage?
Potential buyers have various reasons for purchasing acreage. Some people wish to purchase land that they can use to build a custom home. They may want plenty of room for growth or just space to roam. Larger acreage deals may come into play when people are looking for room to build housing communities.
Some people are looking for land that is suitable for growing crops or raising livestock. There are people who want space for their horses to run or be trained. Still others may want land for business purposes or for the selling of timber. Of course, there are investors who like to purchase acreage and hold it in the hopes that the value increases.
? How Do I Get Land Ready to Sell?
Make sure the buyers can easily access your land and have an easy time getting around. Clean the property and make it look appealing.
Ensure the buyer can get into the property without having to go through the neighbor’s property.
Get rid of all the garbage, metal piles, old vehicles, appliances, and other unsightly things.
Consider planting and maintaining vegetation if that is appropriate for the land you’re selling. Trim trees and keep the grass mowed, unless the land is used as pasture land that may be appealing if left as it is in the natural state.
Fences should be in good condition. Fix any broken posts or wires.
If your land has any surface water, ensure it looks clean and presentable by clearing trash and leaves and trimming the vegetation around it.
? What are Some Tips for Pricing?
Your goal is to receive a good return on your initial investment. Most professionals and investors use a universal method for land valuation that determines current and future value of your land. The method is called the Land Residual Method. This method involves taking the best use and highest value of land and removing all the costs of development. What you get is the actual land value.
Looking at the location of your land can also help you price your land. For example, land near the ocean, land that could contain minerals or that is in highly developed areas may have a higher value.
?♂️ How Can a Real Estate Agent Help?
Having a real estate agent on your side when you’re selling acreage is a good idea because of the knowledge and experience they have in that area. As someone who specializes in acreage, we can help you set the proper asking price for your land and create a marketing plan that works. We are skilled negotiators when it comes to the sale of acreage, and we’ll work on your behalf to make sure you receive the best deal.
Give us a call today to discuss how we can help you determine the value of your acreage. We’ll compile a comprehensive report that helps you create an asking price that catches the attention of potential buyers. Then, we can discuss how to best market your property to reach a broad range of potential buyers who are looking for land just like yours.