Land Sales Pricing:

Written by Jenna Ritter

Everything is negotiable because there are so many varying components to selling real estate. Some real estate "sells itself," while others take a lot more skill, kowledge and time. I do my absolute best to keep as much money in my client's pockets as possible. 

Residential Lots:

  • In a subdivision: It's obvious all you can do with a lot in a subdivision is build a house. 1.5% of final sales price.
  • Non subdivision 0<5 acres: 1.5-2.5% depending on the size, buildability, and if sewage and water are already in place. 
  • Large Estate Lots over 5 acres: Evaluate based on project.
    • Subdividing might be needed to maximize potential
    • Soil tests might be needed
    • The use of the land will expand into agriculture
    • Multiple buildings on same property could be built for farming
    • Buyers might want to create a pond
    • Easements are more likely to exist that need to be explored
    • Drone photos might be required
    • More extensive advertising might be required (Land.com)

Platted subdivisions: Evaluate base on project.

  • Size of the project
  • Status of entitlements
  • Septic vs. Sewer
  • Additional work that will be requiring of the new buyer (paving, grading, detention, drainage)
  • More extensive advertising will be required (LoopNet, Land.com)

Large Residential Tracts: This type of land will only be sold to a developer that will create a subdivision. This will take extensive evaluation on the layout of the land. The larger the tract, the longer it will take to sell. Extensive advertising might be required on LoopNet and Land.com (platinum packages).

Commercial lots: 3%-5% of the sales price. It depends on what kind of commercial. 

  • If the highest and best use is for a national or international brand, more extensive advertising will be needed in order to reach those companies' real estate teams. It will also depend on how ready the site is. If a lot of preperation needs to be done, the process could take a year or even longer to close. 

*Does not include buyer agency compensation. This is the buyer's choice on what to offer,  2.5%-5% is what I will recommend depending on the type of land outlined above.

Jenna Ritter

Virtual Properties Realty .BIZ


Office:
2750 Premiere Pkwy, Suite 200, Duluth, GA, 30097
www.VirtualPropertiesRealty.com
(770) 495-5050
Agent:
jennaritterSOLD@gmail.com
(678) 362-6300

Virtual Properties Realty is comprised of three different companies with the same owners. GREC Firms: Virtual Properties Realty.COM H-31589 | Virtual Properties Realty.NET H-62748 | Virtual Properties Realty.BIZ H-45477

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