Sales Tip Saturday: Why Your Property Isn’t Selling
One of my New Year’s Resolutions for 2024 is to share more knowledge.
I’m looking forward to sharing more sales tips, to working more more with the gals of Land Academy (more on that coming soon!), and so much more… but that doesn’t mean I can’t do it from my pajamas. (Seriously, the power of land investing and being your own boss.)
Over the years, my partner Jack and I have been asked over and over again why a property isn’t selling. It always boils down to the following three reasons:
1. It’s not priced properly.
Said another way, it was not purchased properly.
Here’s a real example. The least expensive 40- acre property that I can find posted on the internet in a specific state right now is about $10K. We make offers daily on that type of property. So we offer less than half of that to come in around $3K. Then we list the property for about $8K. We make sure we are priced less than the cheapest property on the internet to insure a quick sale.
Now we’re doing this at much higher numbers – add a few zeros to the line – but this is a very real example of how your mindset should be. If you bought well, you can price lower than anything else on the market.
2. The right people aren’t being exposed to it.
We call this reach. We see this both when members are self-listing properties and when they’re using realtors. Each additional place you post your property for sale means more eyes are on your property, which is exactly what we want. You should be posting your lot in every corner of the internet, because as full time real estate investors, sometimes we forget that most people don’t know about a simple tool like Zillow.
3. Your listing looks just plain bad.
Yes, I’m not pulling any punches. You have no idea how many listings I’ve reviewed that have one or two blurry pictures and one sentence with grammatical areas. If you don’t look at your listing and want to live there yourself, then you’re doing something wrong. You need a well-written listing with complete information, and pretty pictures that show the property well. If you’re having trouble selling a property, take a look at these three items and I’m confident you’ll find room for improvement in at least one of them.
Want to learn more about how you can be your own boss in 2024? Schedule a call with us!