There is only 2 reasons why your land has not sold. One is price and two is marketing. Let’s look at each. Although no 2 tracts of land look the same, there is a lot of commonality in pricing. Generally properties within a county have a similar pricing structure. Of course there are variables depending on property attributes such as fencing, timber, water features etc. If comparable properties in your county are selling for $2,000 per acre and you put your property on the market at $3,500 per acre, it will not sale and if someone comes along foolish enough to pay the price, the property will not appraise! People are looking for value just like you did when you made the purchase!
The second is marketing. There are many ways to market and advertise property for sale. For example, newspapers, signs, multiple listing services, land websites etc. Land websites will include but not be limited to LandWatch.com, LandsofAmerica.com, LandandFarm.com and LandFlip.com. Without exception, most of the property sells on these websites. The good old days of putting up a sign and running a newspaper ad are long gone. To be specific, 75% of my listings are sold thru these websites, 20% thru the MLS and 5% off signs. By far, most folks start their search by looking on the web.
To be successful in selling your property, pick a Realtor, like an Accredited Land Consultant who specializes in land and farms in your area. These professionals will provide you a snap shot of the market and can help your develop a successful strategy for the sell of your property.
G. Kent Morris, ALC, RF
Accredited Land Consultant