Blog Details

Tips to Selling Plot Without a Real Estate Agent

Before we go over how to sell commercial real estate without a broker, you should understand why selling commercial real estate on your own is so important.

Important Notes for Selling Commercial Real Estate Without a Realtor

The following are the benefits of selling real estate without a realtor:

For optimum profit.

If you want to get the most money from selling your business property, a realtor is not a suitable choice. If you utilize a realtor to sell your commercial property, plan to pay the realtor a commission of 3-6% of the total transaction price.
It should be noted that the 3-6% figure is based on total sales rather than profit.
What if your profit ranges from 3-6% or even less than 3%?
Selling without a realtor might save you thousands or even millions of dollars, depending on the size of the business property.

You sell quickly.

It is also a well-known fact that FSBO (for sale by owner) homes sell faster than realtor-sold homes when done appropriately. So, in addition to making more money by selling your commercial real estate on your own, you can do so in less time.
One reason is that you are not a realtor’s only client. This is exacerbated when they have larger clients from which they might benefit after selling their commercial real estate.
Many people have claimed that their realtor did not return their calls on time or missed deadlines.

Agent’s credibility

Agent credibility is nearly always questioned. It is difficult to tell the difference between a trustworthy and a doubtful realtor.
The majority of real estate brokers are motivated by financial gain. They don’t care if you made a profit on the sale. Customer happiness is not a priority.

How to Sell Commercial Real Estate Without A Realtor

However, it all depends on how much effort you are willing to put into your land sale.

The basic principle of selling vacant land without a realtor is that you are responsible for all aspects of the transaction, from marketing to negotiating with purchasers, preparing contracts, and contacting with an attorney or title business.

Selling land without a realtor saves the landowner money on commissions. However, the effort spent learning how to sell land efficiently and applying what has been learned may not be worth the money saved on agent costs.

If you’re one of those property owners who dislikes performing research on topics outside of your field of study or interest, you’ll probably want to hire a real estate agent to assist you sell land.

The commission you would have to pay the realtor would be irrelevant in this case since you would most likely have failed to sell the land to buyers for the correct price.

Selling land without a realtor will need patience and a lot of effort on your behalf. If the prospect of conducting research already puts you off, you’re better off in the hands of professional real estate agents.

1. Research Your Land Selling Land Without Real Estate Agents

If you’ve been holding onto this raw land for a long time, you probably don’t need to examine it and can skip this stage.
If not, this stage is critical for you to acquire the desired price for your land.

2. Create a Profile for Your Target Land Buyers

This phase answers a simple question about selling your land: “Who are the buyers that I want to sell my land to?”
It is a basic commercial principle to target a specific class or type of land buyer rather than, say, the entire market.
The reason for this is that marketing strategies must be tailored to a specific class or type of potential buyer. This emphasis is vital because it would be pointless to devote a huge marketing budget only to attract buyers who aren’t even interested in the type of land you possess.

3 Prepare yourself on how to negotiate and close the deal:

If you’ve ever purchased a property previously, this shouldn’t be too difficult. You already know the worth of your property, as well as the specifics of the subject property. When you receive a satisfactory offer, consult with an attorney and initiate escrow.

When your advertising pays off, the next critical step is to hire a real estate lawyer to help prepare a selling contract.

The lawyer will guarantee that the sale conforms with all applicable state and municipal legislation. Additionally, ensure that your rights as the seller of the property are preserved.

Leave Your Comment