Considering selling your land but hesitant about costs involved like commissions, legal and agency fees? Selling land without a realtor has become a popular option in recent times with property owners seeking greater control and cost savings in the selling process. By bypassing traditional real estate agents, sellers can take charge of their transactions, from setting the price to negotiating terms, all while potentially saving thousands of dollars in commission fees.
In today’s article, we’ll explore the ins and outs of selling land without a real estate agent, delving into the advantages and disadvantages and comparing it with the traditional alternative of selling land with a realtor.
Selling land without a realtor typically involves a property owner handling the entire land-selling process themselves. From listing the property, to sales and marketing, price- negotiation, paperwork and documentation. The landowner is in charge of the entire sale process. While this method of land sale may seem more challenging, technological advancement has made it much easier by land-buying companies. With land-buying companies offer online land-listing platforms or websites where landowners can have details of their property listed and a competitive cash offer for their land within days of this listing .
Sundial Lands is a foremost land-buying where you list land for sale by filling out a cash-offer form on the website.
Selling land with a realtor, on the other hand, involves enlisting the services of a licenced real estate agent to facilitate the sale of your land. While realtors bring expertise in navigating the complexities of the real estate market, their services come at a cost in the form of commissions which can take up quite a significant percentage of the landowner’s income from profit. The choice of whether to sell land without a realtor or to sell with a realtor boils down to the landowner’s choice after reviewing the pros and cons of both methods. We compiled some pros and cons of selling land via real estate and by land-listing websites (having reviewed both) as follows:
Selling Land Without a Realtor (via Land-Buying Companies)
Pros
Cost Savings: No commission fees to pay to a realtor, potentially saving thousands of dollars. By selling your land directly to a land-buying company, you can bypass the hefty commission fees typically associated with traditional real estate agents. These fees, often a percentage of the final sale price, can amount to thousands of dollars, cutting into your overall profits.
Control: Selling without a realtor, you have full control over the land sale process. This is especially beneficial with regard to profit. With land-buying companies like Sundial Lands, proceeds from the sale of your land belong to you- there are no profit cuts in the form of commissions.
Simplicity and Flexibility: Selling your land directly to a large pool of buyers through land-buying websites simplifies the land-sale process. It cuts off marketing and the process of seeking out real estate agents to help sell your land. Basically, all you need do is to upload details of your land on the website. Because Sundial Lands (like many good land-buying companies) have a large pool of buyers subscribed to their services, land owners can get a quick cash offer on the sale of their land.
Cons
The three major identified cons of selling land without a real estate agency include perceived Marketing Limitations, Negotiation Skills militating against the seller and a lack of resources (e.g., access to a market base). While this may be true of selling your land exclusively on your own (For Sale By Owner), selling via a good land-buying website like Sundial Lands is one of the best choices. Sundial Lands allows you negotiate your preferred selling price right from the beginning of the sale process. In summary, selling your land to a reliable land-buying company has more pros than cons.
Selling Land Via a Realtor
Selling via a realtor involves employing the services of a qualified real estate agent to facilitate the sale of the land. When selling land with a real estate agent, a landowner enters into a contractual agreement with the realtor. The realtor is often a licensed agent who takes on the right to market, list and then sell the property.
Pros
Expertise: Real Estate agents are often experts who have good knowledge of the land-selling business. They help with marketing, legal work, etc. while you pay for their expertise.
Marketing Power: Good realtors have access to extensive marketing resources and networks, making it easier for the landowner.
Relatively stress-free: Selling land via a real estate agent removes much of the sales process from the hands of the landowner. This effectively reduces stress in the land-sale process.
Cons
Commission Fees: Realtors typically charge a commission fee. This commission is often a substantial portion of total profits from the sale of the land and can amount to thousands of dollars.
Potential Conflicts of Interest: It is said that some realtors may prioritize their interests or push for a quick sale, potentially undermining the seller’s goals. It is important to get a good, empathetic real estate agent for each land sale process.
Lack of Control: Seller may have limited control over certain aspects of the selling process, including marketing and negotiation strategies once all rights have been handed over to the real estate agent. This re-emphasizes the need to ensure you select a credible realtor as this goes a long way in making or marring your land-sale experience.
In summary, while selling land with a realtor might offer you expertise, selling your land without a realtor via land-buying websites like Sundial Lands might be a better bargain by giving you the freedom to state your sale price, access to a large pool of partner-buyers which speeds up the selling process as well as the flexibility of selling from the comfort of your smartphone or laptop.
Selling via land-buying websites or selling with a realtor- which of these two methods would you consider for your next big land- sale? Tell us in the comments below!