Selling a house in a changing real estate market can be challenging. Selling land can be even more challenging…in any market. In this article we provide tools for landowners and real estate professionals about how to sell lots and land, and why your strategy with vacant residential land needs to be different from selling a home.

What to Expect: The Land Market & Why It’s Different
Many people expect the market dynamics for lots and land to be the same as the market for existing homes. They are not. You’ll be better prepared to sell your home lot or land if you understand some of the differences between the land market and the existing homes market:

Lot and Land Buyers are Different from Homebuyers – These groups of people have very different perspectives, desires and needs. Homebuyers usually want move-in-ready, with granite countertops. Land buyers, whether individuals or developers, are looking for the right location and an opportunity that lets them customize to fit their needs.

Land Requires Different Sales Techniques – A home has a kitchen, bathrooms and a façade that can be visual and photogenic. You can hold an Open House for a home and walk a buyer through each room to help make the sale. Buyers can easily visualize themselves in – and fall in love with – the built home. It’s just not the same for vacant residential lots and land.

Market for Land is Less Active – The market for existing homes is almost always more vibrant than the land market. There simply are fewer numbers of buyers for vacant land than consumers looking for homes. Start marketing a new home listing and a new lot listing when both are desirable and priced well, and you generally can expect fewer contacts about the new lot listing.

Patience Required – Selling a lot or vacant land typically will take longer than a house. You have to be patient.

But don’t be discouraged. Lot and land markets continue to heat up across the country. And while some of these comparisons may seem disheartening, people successfully sell lots and land every day. We’re here to help.