Dealing with first time land owners can be an interesting experience no matter how many times you have already sold land to first time buyers. Therefore, there is always something new to learn and work on when navigating a land sale with beginner land owners. Typically, first time land owners will be novices in the buying process, will lack the knowledge of real estate vocabulary, have a variety of questions, and be completely oblivious to the potential pitfalls of buying land. This is where you come in and do your job to make sure the buying process runs smoothly and is conducted in a professional manner. Listed below are several tips and tricks you can utilize when dealing with your next first time land owners.
Real Estate Vocabulary
Just like any other specialized discourse, the real estate market operates by means of a variety of distinct and specific vocabulary terms. Chances are the first time land owners you are working with will not be aware of all of these terms, even if they are terms you hear everyday. Zoning laws, unrestricted land, and even mortgages may be terms your first time land buyers are unfamiliar with. It’s important to remember that there is no telling what experience your first time clients will have with the real estate market. Defining terms, their characteristics and their effect on the land you are representing is a great way to build trust between yourself and your clients.
Help Determine Their Desires & Budget
While some first time land buyers may come to you with well defined budgets and land owning desires, it is more common that these first time land buyers will not have completely explored how much they are willing to spend on a particular plot of land. At this point it is probably a good idea for you to help them explore their budget and factor in additional costs that the land for sale will require. Based on your clients desires you can also point them in the direction of land more suited for their goals. Are they looking to own land as an investment opportunity, or are they looking to develop their dream home?
Bringing the Buyer to the Property
You are well aware that taking your first time land owners out to see the property they are interested in is a big step in the buying process. Taking your land buyers out to the property several times at different times of the day is a great way to introduce them to exactly what they are looking to buy. It is a good idea to invite your buyers out to the land in the morning and afternoon so they can investigate and interpret how the land and surrounding area are affected by neighbors, passersby and traffic.
Ensure Your Buyers They Are Purchasing “Good” Land
You are a professional so there is no doubt you are only offering your buyers land that will actually suit their needs and be productive for them moving forward. However, first time buyers may be skeptical, and rightfully so. They have never gone through this process before and may be even worried that they are making a bad decision. Communicating with your land owners about the land’s history, ecological footprint, deed requirements, and access is a great way to calm the nerves associated with first time buying. At this stage of the process it is also important to put yourself in their shoes and understand that for them this is a big decision that will affect their life for months and even years to come. Empathy goes a long way in establishing meaningful and trustworthy working relationships.
Overall, working with first time buyers can be simultaneously exciting and stressful. You want to make sure you do your best to provide them with land that they will be happy with, but it can be hard when they lack the vocabulary and knowledge to navigate the buying process. Patience, empathy, and consideration are all vital when dealing with first time land buyers, and will allow you to make any situation better for you and your clients.