What are some new ways that I can market my land F/S in which I have reduced the price 20% w/o using a realtor

I have already been with two realtors prior with no luck. Property is in a growing comm. corridor. Any suggestions on what else I can do to market my property for sale on my own would be great.
In Selling Property - Asked by James C. - Oct 28, 2008
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Answer(s)

Chris G.
Broker/Agent
Lynchburg, VA

If by growing area you mean that other properties near yours are selling, but yours has remained on the market, it could either be a matter of price, or there could be some physical characteristic of your property that makes it a harder sell. If you used 2 other Realtors previously and they were not able to sell the property, this could be the problem, unless the previous Realtors did not have much experience in selling your type of property. Think of this: On any given day at any given time, the only property that you have to offer someone is yours, I am assuming. If you hire a real estate agent that handles the type of property you are selling, and they also have many other properties listed, the chances are much greater that they will be able to lead a prospect to your property. The majority of the time, I have a buyer who contacts me about one particular property but ends up really needing another property that I have available. They may have seen the other property and not realized it could meet their needs. The perfect buyer could be out there and never realize that your property is the one they should buy.

Oct 29, 2008
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Clyde E F.
Owner/Investor
Kyle, TX

I am not a real estate broker, but would never try to sell any property without one. It is a cost of investing, and brokers get rid of the tire kickers, etc. Find the right firm, and stick with them. It took me three years to unload a property, and I was just about to change realtors when a buyer was found. Might have lost him without the broker. They earn their money.

Oct 29, 2008
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Bill K.
Developer
Stevensville, MD

At this time, the national and Regional builders and developers are not buying, they are busy working thru current inventory/projects. national and international investment groups are the entities that have the appetite as of right now. The gentleman that mentioned he would not use anyone else but a realtor is being somewhat short sighted. There are many land companies that utilize and deal strictly with Investment groups that land bank as well as move projects forward with private money. if a Realtor is not putting your property in front of true Investor groups, what service are they really providing? Good luck!

Oct 29, 2008
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Ed H.
Developer
Atlanta, GA

I agree with Chris that the issue may be the pricing or the land characteristics. Loopnet has worked for me as well as other FSBO sites with or without fees attached. Depending upon the property and the local comps you may wish rezone or entitle the property with a civil design firm.

Nov 1, 2008
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Mark C.
Broker/Agent
New York, NY

I cant comment on your specific situation but in general to sell something I would hire an agent from a large brokerage specializing in that product type WITH A TRACK RECORD. All good agents have a track record and if they cant sell it...it's probably priced too high. Everything sells at the right price. So determine whether selling is your top priority or pricing, and go from there. GL

Nov 19, 2008
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