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Five Mistakes Sellers Make When Marketing Land
January 28, 2024
In this episode of the Texas Land Guys Podcast, hosts Tim and Tom Dosch explore “Five Mistakes Sellers Make Marketing Their Land.” Drawing from decades of experience and over 700 transactions, they reveal the most common missteps landowners make and how to avoid them.
From understanding your true motivation for selling to timing the market effectively, Tim and Tom share real-world examples and expert insights to help you get the most from your land sale. They discuss the importance of identifying the highest and best use of your property, why active marketing strategies attract better offers, and how working with the right broker can make all the difference.
Packed with practical tips and lessons learned, this episode offers valuable advice for both first-time sellers and seasoned landowners alike. If maximizing your property’s value is your goal, you won’t want to miss this one!
Key Takeaways:
- Understanding seller motivations and their impact on the selling process.
- The significance of timing in the real estate market, both macro and micro.
- Balancing transaction risk and understanding buyer dynamics.
- The importance of working with reputable developers and assessing their integrity.
- Employing effective marketing strategies tailored to the property and target audience.
- The concept of “highest and best use” in land valuation and development potential.
- The role of appraisals and the challenges of valuing land compared to residential properties.
- Case studies illustrating successful land sales and effective marketing approaches.
- Market sensitivity of different property types and their implications for sellers.
- The shift from passive to active marketing strategies for better engagement with potential buyers.
In This Episode:
- [00:00:03] Introduction to the Podcas
- [00:00:45] Topic Introduction
- [00:01:21] Experience in Land Brokerage
- [00:03:48] Balancing Price and Timing
- [00:03:10] First Mistake: Understanding Motivation
- [00:03:59] Legacy Considerations
- [00:05:43] Transaction Risk Awareness
- [00:07:38] Developer Relationships
- [00:08:58] Understanding Developer Offers
- [00:09:17] Importance of Reputation
- [00:10:03] Summary of Seller Motivation
- [00:11:05] Second Mistake: Market Timing
- [00:11:38] Macro Market Conditions
- [00:13:15] Historical Market Cycles
- [00:14:45] Micro Market Timing
- [00:16:22] Best Marketing Windows
- [00:17:36] Seller motivation and flexibility
- [00:17:58] Maximizing Offers and Price
- [00:18:05] Third Mistake: Highest and Best Use Considerations
- [00:19:31] Zoning Challenges in Houston
- [00:19:56] Appraisals vs. Market Values
- [00:25:28] Market Sensitivity in Land Sales
- [00:24:46] Market Timing for Unique Properties
- [00:26:54] Fourth Mistake: Passive vs. Active Marketing Strategies
- [00:28:22] Investment Sales Approach
- [00:32:45] Fifth Mistake: Hiring the Right Broker
- [00:41:42] Conclusion and Final Thoughts
Show Links:
Tom Dosch
Tim Dosch
