There isn’t a land owner alive that doesn’t want to get the most out of their property when it comes time to sell. And while each situation is unique there are a few things you can do to ensure you’re maximizing your profit potential.
#1 – Be patient. Unless your’e in a bind… there’s no need to force the issue. Many times it will take several months before you accept the offer to sell your property. There is no need to take the first offer you get, unless it is a good one.
#2 – Be smart. When a good offer comes along, recognize it. Be honest with yourself on where your property is priced. If an offer comes in that is below your asking price, but at market value, you owe it to yourself to seriously consider it. It is a rare situation when a buyer will drastically overpay for a property… so when a solid offer comes along it might be the best offer you get.
#3 – Get help. I’ll be the first to tell you that if you want to list the property as a “For Sale By Owner”… give it a shot. However, more times than not you’re giving up a sizable portion of the potential profit. Yes, I know paying an agent commission cuts into what you consider your profit, but consider this, many times through marketing and promotion an agent can attract buyers outside of your local market which can help increase the price. Yes, I know your neighbor is interested in your property and he will likely be the buyer. But if there is no competition for the property he will pay what he wants to pay, not necessarily market value.
If you have questions in regards to selling your property, please contact Michael Wardlaw for a no obligation consultation.