Broker's Corner: Tips On How To Sell A Land
Selling a land is a different ball game altogether when compared to selling any other type of property. While you can use online property listings sites as an integral part of your marketing plan, MakaaniQ lists certain points you should consider in order to close the deal quickly and effectively:
Avoid disputed land
Before engaging in land property, always make sure that the land is not a disputed one. Land deals are lucrative and brokers tend to get carried away by these opportunities. However, there is no point in wasting time on a property which can be entangled in legalities at a later stage.
Therefore, go for a proper due diligence beforehand and then start with marketing and sales efforts. Do not forget to check all the copies of land titles and be sure that you are dealing with the real owner of the land.
Post compelling content
Online marketing is driven by the quality of your content. In case of buildings and apartments, you can post nice-looking photographs and videos of the property, however, in case of a land, it is a different case. Posting photographs of a plain piece of land may not be sufficient. Then what needs to be done?
Here, you will have to develop a story. Talk about the value proposition of the land. Just get into the shoes of a buyer and then list out all the factors that a buyer would like to know about the land. This includes information about the nearby facilities, infrastructure projects, etc.
You must have noticed that whenever the government announces development or expansion of projects such as airports, metro rail, railway station or bus depot, the prices of land in those particular parcels tend to increase by leaps and bounds. The localities which are seamlessly connected to these projects and which are slated to be covered under these projects get a tremendous boost in a short period of time. If the land you are trying to sell is located in any such area, you must highlight these facts in the headlines.
But that might not be the case all the time. There may be plots which do not have any mega booster. Still, you have to figure out the factors which go in favour of a buyer. You should also take down all the negative factors which may influence buyers' psyche. If you the negative factors in advance, you can prepare the solutions accordingly.
It may take a long time to sell a land. In metropolitan cities like Delhi, Mumbai or Bangalore, land is a scarce commodity and the ticket prices are very high. The number of buyers, in this case, is very limited.
As the deal size is often pretty large, buyers perform a thorough due diligence and it may take several weeks. It may happen that the most promising buyer takes a U-turn after several weeks of research and negotiations. Thus, you should never consider a land sold unless you the deal is sealed with advance payment. You may involve with multiple buyers so that your chances of striking a deal do not depend on one single party.
Also read: Unconventional Ways Of Earning Through Land