The internet has changed the way we sell and buy goods. We can trade shares without a stockbroker, sell a car, even clothes and personal items that were once the domain of a garage sale or Sunday market.
Now you can easily and cost-effectively sell your own property online without needing a real estate agent.
Suprisingly it is not common knowledge in Australia that you can sell your own property without an agent - and save the usual commission and fees.
Selling a house generally requires holding several open inspections. At the very least you have to let people inspect your home prior to sale. This is where agents argue their skills prevail in being able to catch a propsective buyer and move them to sale.
While not entirely correct, one thing is sure: speaking to a propsective buyer face to face is an important aspect of increasing your success in selling your home.
Selling land is a little different.
Firstly, open for inspections are not necessary. Potential buyers do not need to be escorted through, mainly becuause they can freely visit the land and inspect the location and its benefits without you around.
Secondly, the photo you took of your block of land will never do the property justice. Unlike photographs of a house, you should focus on the views the land affords the prospective buyers, not on how neat and tidy the block looks. The surrounding elements of the property are more important, such as location to shops, lifetsyle elements (beach views, parks) and even the type of properties that surround the land (if any).
Display the opportunity.
It always help to show the prospective buyer what is possible on the land. It may be worth getting building approval for a home or number of homes. This lets the propsective buyers know it is possible to build easily. Often this will attract a higher price as well. Don't worry if the design doesn't suit the new owner as changes are easier to get through council approval that getting approvals to build in the first place.
Keeping the block tidy can have benefits as most propsective buyers still prefer to see a clean plot with no rubbish or excessive mess. It's certainly OK for there to be mud as you expect that to be the case, however the overall look of the block should not indicate that the new owner needs to pay to remove dumped rubbish or massive holes in the land.
If your land is in a newly subdivided area you should make it clear if there is access to the basic ammenities such as town water and sewerage as well as electricity.
It also makes sense to outline any new plans for infrastructure such as freeway or public transport networks. You can easily get all this information from your local council planning department, which often publilshes proposed plans from roads to shopping centres.
Keep in mind that some investors look for land in areas that public facilities such as highways and shopping centres are yet to be built because they know these facilities can unlock value and boost prices
The actual location and size are critically important and you should get a surveyor to ensure the boundaries are clearly marked and visible. Some land is surrounded by neighbour fencing and its dimensions become easy to see from the street. If this is not the case consider the services of a surveyor. You should really consult your conveyancer or solicitor at this stage as they can assist to make sure all is correct.
Always check local council bylaws and regulations for selling land. Most councils require nothing more than what you would do for selling a house. Your conveyancer or solicitor can help you here and make sure that you are aware of any restrictions.
Most importantly, remember you are selling a vision of what can be built and its likely future value. Always talk to a buyer with this in mind. It's about the potential, not about what is there now.
Finally, and most importantly, selling your block of land is easy and does not require an agent. It is easy and you will save thousands.
Want to know more? Check our Knowledge Centre where we have plenty of great tips on getting your property sold for the best price.
