by Laura Mueller
Wondering how you need to adapt your land listings to get your property sold during the coronavirus pandemic? You’re not alone. COVID-19 has brought on notable changes in the ways—and frequency with which—land is bought and sold. But land selling hasn’t stopped and listing inquiries and traffic have increased about 20% here at Landhub since stay at home orders started back in March.
The real estate market is prone to trend upwards and downwards with the general economy. And due to lockdowns in most states, that’s meant that the market for buying and selling real estate has, understandably, taken a bit of a hit. According to global commercial real estate firm JLL however, real estate remains an attractive asset. Capital flows into the real estate market are actually expected to increase in the medium to long term says the JLL report —and when it does, your listing needs to be ready.
Whether you’re trying to push forward aggressively with a sale right now or are just looking to adapt and ride out the storm, here’s what you should be doing to modify your land listing and (hopefully) get it sold.
Add More Imagery
Break out the drones! With in-person showings a bit more difficult to arrange than they used to be, your best bet for inspiring real interest in your property is with great images, and lots of them. Drone photography and videography are particularly useful here, since they allow you to show off the scope of your land from an advantageous view point, capturing not just the look of your property but the layout as well.
Include an Interactive Map
Interactive maps, like those offered by apps like TerraStride Pro and MapRight, help you provide more visual detail in your listing. Denote key features like county lines, aquifers, structures, and utilities, and allow potential buyers to get the full picture of what’s for sale before they even step foot on the property.
Offer Flexibility With Showings
The industry is still trying to work out the new normal when it comes to land showings. Make it clear in your listing that you’re willing to work with your buyer to ensure they have safe opportunities to see more of the property, such as personalized virtual tours or drone walk-throughs. Aside from being great ways to highlight what you’re selling, these options also ensure that a buyer is truly interested before they move forward with an in-person showing.
Talk About Safety Measures
Fortunately, there are less risk factors to worry about with open air than a physical structure. But still, it’s a good idea to note what measures have been taken to keep potential buyers safe when viewing your property—for example, masks and hand sanitizer available on site. These small precautions can make a big difference in minimizing risk during showings, and let any potential buyers know that you’re doing everything you can to accommodate their needs.
The virus won’t last forever, but the changes you make to your listings are all ones that you could extend even when lockdowns are lifted. The more information you provide to buyers in a land listing the better, which means that things like drone footage, interactive maps, and virtual walkthroughs are always a good idea.
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