Doing a realtor free land sale can save you commission fees, but the risk of a lower sales price can make it less attractive. FSBO sellers sell for $55,000 less on average than buyers working with agents, according to real estate data. Plus, a bare plot of land can be difficult to market effectively, and you’ll need to have knowledge of zoning, topographical surveys, and more.
New York realtor free land sale usually incur transfer taxes, which are based on the sale price. You’ll also need to complete other documents and fees, like a septic system inspection report, water tests, soil tests, endangered species habitat surveys, and more. These can add up quickly, so be sure to account for them when calculating your net proceeds.
Sellers typically pay both a listing agent and a buyer’s agent. The total commission fee can cost up to 5% of the sales price. However, you can find low-commission real estate agents who specialize in land sales, and they’ll often charge half the typical commission rate or less.
Using a reputable service like Clever can connect you with multiple top-rated agents in your area, all of whom are vetted based on years of experience, successful transactions, and customer reviews. They’ll provide full-service marketing and negotiating services, and can help you sell your land quickly at the best possible price.
Cash buyers are more likely to buy land, and can close a deal in days instead of months, making them a great option for sellers who want to move their property fast. But selling to a we buy land company can mean a lower sales price, and may require you to perform additional repairs or renovations before closing.