Hello everyone wanted some advice do you think there is enough resources and websites to sell your properties yourself. Also, when is it a good time to get a realtor involved?
There are definitely enough resources and websites to sell properties on your own. The questions is just whether you want to spend your time listing, promoting, renewing and responding to inquiries as they come in. It can be a lot of work.
It’s great to save money on realtor commissions, and avoid some of the incompetent realtors out there who will waste your time, but if you can find a good one, that can oftentimes be a better long-term solution for you as well. It’s just a question of whether you can find those good realtors in the sea of lousy ones.
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To add to @donyost toughts, and more specifc to vacant land…
If you are going to concentrate on one or a few markets, in the long term you may find it more efficent to build a relationship with on or more agents in the markets that understand the land niche.
Another consieration is the anticipated sales price of the parcel. In the areas where I work commisions on vacant land run 6% of sales price. A coupel of the agents I use explicitly have a minimum comission (a floor) of $1,000 (equate to about $17k sales price 6%) , and one has $3,000 (which equates to $50k sale price). Just like you may not want to spend time listing, promoting, renewing and responding to inquiries as they come in - agents in the area you are working may not be motivated to so either for sub $20k sales prices.
With resepct to finding a good agents, one place to start might be the RETIPSTER guied: https://retipster.com/land-agents-brokers/
You can search for the state where you are selling and then, check the area codes for any listed agents in the state against the areas code(s) for the location of the proerty to determins if there might be one in the area wher your property is located.
Another approach is to pay attention to which agents have the most listing for land when you are looking at various RE websites while comping the property.
If you are considering selling with out an agent (or even considiering using an agent) - I highly recommend you do these two things first:
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Put a nice looking “For sale by Owner” sign with you phone number on the parcel. I het an amazing number of folks that call. And, if I do decide to list it with an agent, I tell them I have a FSBO sign on it and ask that they pick it up and throw it away when they put their sign out (motivates them to get their sign up quicker after I sign their listing agreement). I use Vistaprint’s 18" x 24" Yard Signs.
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Contact neighbors. If you are in the area. Stop by the nieghbors of your property and knock on the door and tell them “I bought the property next to yours down the road and I am going to resell it, I see me, my vehicle or others out walking around looking at it - thats; what is going on. And, if you know anyone that might be interest being your neghbor, have them give me a call.” If you are not in the area of the proerty, or can’t knock on neighbor doors, use the various land sites or county assessor’s site to get the names and addresses of the neigbors and send them a letter letting them know you are selling it.
Karl
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Really appreciate it Don
Thanks Karl really appreciate it
I am located in Pennsylvania and I have some lots in Franklin County, Missouri that I would like to try my hand at selling myself. I like the idea of putting up a for sale by owner sign with my contact information. I am half a country away and I don’t know anyone there. What do you suggest for getting a sign made and finding someone to take it to the property?
You can sell yourself using sites like Rightmove or Zoopla, but it takes time for viewings and negotiations. A realtor helps if you want a faster sale or expert pricing. Is this your first time selling FSBO?
Online resources can help sell a property on your own, but a realtor is helpful when pricing, negotiations or paperwork become challenging.
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