Selling land! Why you need to know who your buyer will be and what they need
You own and have invested in land, yes at one time you might find you have to sell that land for different reasons including financing a challenge or an emergency but also as investment to profit from that land. Either way you need to know or get prepared knowing whom your buyer will be and what they need.
Like any other business when selling land you have to evaluate who your potential buyers will be or can be. Identifying your potential buyers who may be for example industrialists , home /residential owners or business people to set up a hotel and accommodation or commercial houses helps to have the likely information they may intend to inquire from you before buying that land like zoning and availability of utilities like water and electricity. Every land required may have different requirements and so evaluating your potential buyers helps to link them with potential requirements of a particular land market.
Also be knowledgeable of the land you’re selling and potential buyers helps to instill confidence and faith in between both parties (seller and buyer).
One of the things you need to know when selling land is to have this land ready. Yes you might have been in possession of that land for years but when it comes to the time selling you have to change face. Imagine bringing a buyer in a bushy land that even you have to guess where the boundaries are? So clear those bushes, have identified boundaries or add some beauty like planting flowers and trees before it’s shown and marketed. This helps the buyer to see some value in your land. First impression in any business commands.
You have to choose your price carefully. You have seen people with potential land stay for years possibly this could be pricing. Am not saying you should sell your land cheaply but you have to know that land market because most times pricing your land too high is a common mistake land sellers make and regret later. Wrong pricing especially high pricing scares away potential buyers from even inquiring about your land. When pricing your land you can compare or base on similar recent sales where you are selling your land but also what the buyer intends to use the land for. Pricing of land at times requires some knowledge and professionalism that is why it’s advisable to use a real estate dealer. At Amity we have researched on most lands in and around Mbarara city including their potential use and value so if you have a land you’re selling or wish to sell in future we can help you in determining a satisfactory pricing.
Also show your land at its best. If you visit our offices (put here the location) you will realize we have different photos, maps and land listings of different lots of land for sale in and around Mbarara town. When you visit our offices we are able to show you boundaries, utilities like electricity lines, water points, walking trails, its neighbourhood and other features of our lands. That is why if you have land for sale we are available to show it at its best and attract and evoke emotions of potential buyers as timely as possible.
Using land sale signs is also another marketing strategy. You can have a for sale sign put on your land. These signs can have features like the size of the land and other features in that land.
Also talking and relating with your neighbours can be a good market strategy. A bad neighbour can make your land last long without getting potential clients why? They can trade lies to potential buyers like the land having conflicts, in service lanes, previously having been a shrine and having a bad omen among others. But also relating and having good neighbours they can advertise your land indirectly if you tell them you are selling or intend to sell it.
While the above can facilitate or help you to sell your land, having a professional realtor or trusted land dealer can help you when selling your land because these help you to understand the land market, potential buyers and setting a right price. So as already eluded at Amity realtors we have professionals to offer and guide through the land market sales and buying chain timely and effectively.