Mark Podolsky explains why land brokers ignore cheap raw land deals. A $5-10k commission doesn't compete with bigger sales, so your listing sits. He walks through what actually works when you need to sell, using a real case where Jeff bought 160 acres and expected a $40-50k profit but got no help.
Hey, it's Mark Podolsky, the land geek@thelandgeek.com and let's have another virtual cup of coffee together. I don't know what you're drinking this morning. I'm drinking some very bitter black coffee from my office. Hey, as in most things in life you get what you pay for. This coffee is free and you can see my face, how much I'm enjoying it. Alright, enough about the coffee. Let's get to a few tips, tricks, techniques on how to make money buying and selling raw land. Today I want to talk about a question I had from one of my coaching students, Jeff, that bought 160 acres, pennies on the dollar. He's going to make probably 40, $50,000 on this one deal. But it's a big chunk of land and he thought, well, why don't I use local land broker to help me sell it? And I thought, great. Then he calls me back and says, mark, the broker's not doing anything. What gives? And this is the deal. The property is probably going to sell for maybe, you know, 75, 80, $100,000, which is a lot of money to Jeff. It's not a lot of money to our broker. Even if they're getting 10%, it's only $10,000, which then they have to split with another broker. So Maybe they're making $5,000 for a $5,000 transaction. It's not going to be real high on their list of priorities if they're selling 300 $400,000 homes. So when you work with a land broker, just know going into it that unless it's a quick layup for them, they're not going to work it real hard. So in order to combat this, I recommend the following. Number one, don't give them an exclusive, make it a game play. Let's see who can sell this first, me or you. Number two, do it in shorter increments as well. Six months is the maximum amount I would give them, even if it's not exclusive. Number three, no going into it if they're not getting an exclusive again, it's not going to be their priority to sell that piece of property. Have other marketing channels available to you. And number four, use a few other land brokers, maybe they can do a quick layup with their list. Somebody who's been looking for that perfect 160 acre or 40 acre parcel in that area and they know that broker, they've been looking for a long time and you've got the perfect property. Anyways, if you have more questions I have, I may have the answer, but certainly go to thelandgeek.com download for free the Passive Income Blueprint. Check out the podcast. I've been getting good feedback on it. And let's have another virtual cup of coffee together. Subscribe to the Coffee Talk. I do this pretty much every other day. And thanks for spending some time with me. This is Mark Podolski, the Land Geek, saying, hope you're as wired as me today. See you next time.
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