10 Ways to Sell Your Land Faster in Oklahoma

Selling raw land in Oklahoma can be a challenging endeavor, but with the right strategies, you can significantly reduce your property's time on the market. According to the USDA's Land Values 2023 Summary, Oklahoma's average farm real estate value increased by 12.7% from 2022 to 2023, reaching $2,320 per acre. This upward trend in land values presents a promising opportunity for landowners looking to sell. However, with over 34 million acres of farmland in the state, standing out in the market requires a strategic approach. Whether you're selling agricultural land, recreational property, or undeveloped lots, these 10 proven methods can help you attract potential buyers and close deals more quickly in the Sooner State.

10 Tips to Sell Your Land Faster in Oklahoma

1. Price Your Land Competitively

Overpricing is one of the biggest mistakes Oklahoma land sellers make. Go in with too high of an asking price, often based solely on wishful thinking rather than actual market comps, and you deter most buyers from the start. Thoroughly research recent land sales in your county to determine an appropriate per acre price for your plot’s location and features. Our general rule of thumb is to list around 10-15% below comparable sales to attract more buyer interest.

For example, if similar 50 acre wooded parcels with creek access have recently sold for $2,500 per acre, pricing your land around $2,200 per acre makes it attractive compared to other listings while still bringing you a good profit.

2. Highlight All Property Attributes

Many Oklahoma land sellers focus mostly on marketing the acreage amount of their land. But wise sellers also highlight all the other physical attributes and site details that make their property special. For example, does it have good road frontage access? Existing well or septic? Mineral rights included? Mature trees? Nearby lake? Buildable site? Agricultural usage? Make a comprehensive list of your land’s features and specific benefits. The more worthwhile characteristics you can tout over the competition, the more appealing your property listing becomes.

3. Get an Appraisal to Support Asking Price

Hiring an accredited appraiser to assess and document your land’s current fair market value shows buyers you have established a reasonable asking price not based solely on guesswork. It also provides a level of third-party validation that adds further credibility to the price being asked. But be sure when choosing an appraiser that they fully understand the nuances of the local Oklahoma land market in your particular county in order to come up with an applicable valuation.

4. Create Visually Appealing Listing Materials

All too often we see Oklahoma land listings with only basic details and no photos or maps included. Investing in quality listing materials that showcase the aesthetics and layout of your land goes a long way to enticing more buyers.

• Professionally taken photos and aerial drone footage showcases the natural assets and terrain better than snapshots from your phone.
• Well-labeled boundary maps give buyers clear geographic perspective.
• Topographical surveys help them visualize drainage patterns, buildable areas, vegetation distribution etc.

When buyers can clearly visualize enjoying and utilizing the land, they become more emotionally invested and motivated to submit an offer.

5. Market Heavily Online and Locally

You need visually compelling listing materials because as the seller you’ll have to take responsibility for widely marketing and advertising the land across multiple platforms.

The first step is getting in front of the huge audiences browsing national land and property listing sites like LandsOfAmerica.com and LandAndFarm.com.

• Create detailed listings highlighting all your land’s attributes to stand out among the competition.
• Stay on top of renewing the listings monthly to maximize visibility.

You also need to advertise locally within Oklahoma both digitally and physically.

• Post the listing and interacts with potential buyers on local Facebook Groups, Craigslist, Next door etc.
• Print quality flyers to hang on community boards at feed stores, cafes, post offices and anywhere else area residents congregate.
• And tap into your existing social and professional networks by personally sharing the land listing with family, friends and colleagues through email, social media and word-of-mouth referrals. The more conversations you spark about your available land, the more potential buyers learn about it increasing odds of securing an offer.

6. Consider Owner Financing Options

The reality is very few buyers, especially amongst the younger millennial and Gen Z demographics, have the capital lying around to purchase raw vacant land outright in cold hard cash. Adjusting your expectations and offering owner financing can expand your pool of qualified buyers enormously.

By agreeing to carry back financing you empower more middle-class families and individuals to purchase your land through a reasonable down payment and structured installment payment plan over several years with interest. You retain ownership of the land title until the buyer has fully paid off the loan.

Be sure to secure owner financing agreements by filing a lien on the property title. And work with your attorney to draw up clear loan terms detailing the purchase price, interest rates, payment schedule, early repayment policy, buyer default clauses, etc so both parties understand the expectations.

7. Time Listings to Reach Broader Audiences

You may be surprised to learn that land buying and selling tends to occur more frequently during certain times of year. History shows late winter through spring and again in late fall see huge surges as both individual and institutional buyers ramp up their search before summer starts or the year ends. Target promoting current listings or prepping new listings to go live in harmony with these peak land buying cycles.

When you attract more engaged prospective buyers because your ad timing aligns with when they are actively shopping, the odds of securing an offer increase dramatically.

8. Highlight Major Local Economic Development

What’s currently happening in the local community surrounding your land also greatly impacts the property’s desirability. Any new major construction happening nearby whether it’s housing divisions, commercial buildings, industrial projects or infrastructure improvements are huge selling points.

Such economic development occurring in the vicinity emphasizes the growth potential and opportunities your land holdings offer builders, developers, investors, and end-users moving into the area. Make sure to highlight these key facts prominently when marketing.

9. Offer Discounts and Purchase Incentives

Running occasional promotions with discounted pricing or bonus add-ons helps motivate prospective buyers who are on the fence about committing to submit an offer. Consider temporary price reductions for a short timeframe or throw in extra side perks like covering closing costs or derailing and seeding a portion of the land.

Time limited discounted deals counteract some of the typical negotiating stall outs by building extra value upfront. And the built-in sense of urgency pushes fence sitters to act quicker and finalize a purchase.

10. Remain Flexible and Accessible

As you talk with prospective buyers and field offers, sustaining momentum towards a closed sale depends greatly on your ability to demonstrate flexibility balanced with protecting your main interests.

• Be upfront about what contract terms or property boundaries for example you are willing or unwilling to negotiate on.
• Respond promptly when buyers have questions or do inspections.
• Accommodate reasonable special requests around closing timeframe or early land access.

By positioning yourself as an understanding seller seeking an equitable deal rather than digging in obstinately, buyers will sense you’re ready to work with them, keeping negotiations amicable and progressing smoothly.

Selling land does take significant time and effort. But employing these proactive sales and marketing tactics will help Oklahoma landowners offload properties much quicker to motivated buyers. And if you decide pursuing a private sale isn’t worthwhile or appeals to you anymore, companies like Land Boss offer an easy convenient alternative to buy your land for fair cash value based on its market potential. Just reach out anytime for a no-obligation property assessment and cash offer.

Final Thoughts

Selling vacant land successfully requires substantial effort even in a hot real estate market like Oklahoma. From accurately pricing based on market factors beyond simply acreage, to creating visually compelling listings, to tapping into multiple advertising avenues, to offering flexible purchase terms, putting in work as the seller is a must. While the sales process certainly demands commitment, savvy Oklahoma landowners who implement these proactive tactics for showcasing property attributes, systematically marketing across key platforms, strategically timing with peak buying cycles, highlighting local development projects, and negotiating adaptably should see their properties sell in less time and for better prices. With strong seller preparation, vacant lands that may have previously seemed unsellable quickly transform into prime opportunities just waiting for the right buyer.

Frequently Asked Questions (FAQs)

What documentation should I gather to help sell my land faster?

Useful documents include: property deed, title records, easement details, mineral rights info, property survey/plat map, old appraisals, disclosures of any liens or encumbrances, tax statements, and development restrictions from zoning office.

Does my land need road access to be sellable?

Not necessarily but plots without guaranteed access rights that are landlocked will severely limit buyer interest and sale price. Listings clearly showing legal easements, public roads bordering the property, or deeded access rights sell much faster.

How much does farmland prices differ from undeveloped recreational land in Oklahoma?

There is generally a 50-60% premium for quality cropland or pasture over more marginal vacant plots not currently usable for farming or grazing. Be sure you know which category your land falls into and price and market accordingly.

Should I expect to receive full asking price for my Oklahoma land?

Rarely do initial full price offers come in unless you’ve left significant room for negotiation. Aim to list 10-15% below true target price so you have wiggle room to counteroffer in between. Price competitively from the outset is key.

Does my land need utility access to demand top dollar in Oklahoma?

Having access to electricity, natural gas, municipal water/sewer situated nearby certainly enables listing land as a premium development site. But plenty of buyers also seek partially improved recreational land without utilities present just to make sure to disclose the level of access.

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