10 Ways to Sell Your Land Faster in Tennessee

Tennessee's land market offers unique opportunities for sellers, with the state's diverse landscapes and growing population driving demand. According to the USDA's 2023 Land Values Summary, the average value of farm real estate in Tennessee reached $4,650 per acre, a 8.1% increase from the previous year. This upward trend is further supported by data from Camo Analytics, which reports that Tennessee's land values have risen by an average of 6.8% annually over the past five years. Despite these promising figures, selling land can still be challenging, with rural properties spending an average of 180 days on the market according to the Tennessee Association of Realtors. To help landowners navigate this competitive landscape, we've compiled 10 effective strategies to accelerate the sale of your Tennessee property.

10 Ways to Sell Land Faster

1. Get An Accurate Appraisal

This first step is critical. Overpricing is one of the main reasons land languishes on the market in Tennessee. With the internet, buyers can easily see what comparable properties have sold for in your county.

If you inflate the asking price too high over actual value, you’ll scare away potential buyers immediately. Instead, invest in a formal appraisal by a licensed local appraiser. A fair market value appraisal takes the emotion and wishful thinking out of pricing.

An appraisal costs around $400 but can save you thousands by pricing your land right and generating more interest from serious buyers.

2. Highlight The Property’s Unique Perks

One big mistake we see is sellers just advertising “100 acres in Monroe County” or “50 acres with creek.” Heck, there are thousands of listings like that!

To attract buyers, dig into the details that make your land truly special. Do you have elevation changes or rolling hills? Is there a massive grandfather oak tree in the middle of the field? Does the creek have mini waterfalls?

Really sell the sizzle and uniqueness to catch more buyer eyes. Even if you have a run-of-the-mill tract, focus on positives like good year-round road access or proximity to a charming town. Lean into why your land is better.

3. Get Those Listing Photos Popping

Curb appeal is so important with land sales these days. With online listings, great photos are your first impression to get clicks and enquiries.

Yet we see so many crummy cell phone shots or stale wintertime photos of leafless trees and brown fields. Break out a good camera and spend a few hours capturing the property at its best.

Get golden hour lighting at dawn or dusk, pretty sunset shots, action lifestyle photos of people boating the lake or horseback riding the land. Show off wildflowers blooming or autumn leaves changing. Make future owners drool over the possibilities through stellar imagery.

4. Don’t Neglect Videos

Moving footage brings land alive even more than still shots. Whip out your smartphone and record narrated walkthrough videos of the property and all its best features. Upload these to the online listings.

Offer a virtual 3D video tour that potential buyers can explore online ahead of time too. When they visualize enjoying the land and all its activities, it hastens the sales process.

5. Promote Across Multiple Platforms

Rather than just listing on Zillow or LandWatch, cast a broader net through multiple advertising avenues. Post the listing in your local paper’s real estate classifieds. List it on Facebook Marketplace and Craigslist.

If you belong to any agriculture, timber or conservation organizations, inquire about promoting it in their newsletters or online forums as well. The wider the reach, the more potential to connect with motivated buyers.

6. Talk Up Mineral Rights

In Tennessee’s foothills and mountains, mineral deposits can sweeten a land deal. If your acreage has rights to underground resources like coal, iron ore, copper, zinc or other metals, flaunt it.

Many buyers may not even think to inquire about mineral rights, so educate them upfront. Get documentation from your county on what minerals may lie beneath the ground to snag that perfect mining or investment buyer.

7. Be Smart About Signage

A generic plastic “For Sale” sign often gets ignored by passersby. Instead, create unique bright signage highlighting your property’s best features and eye-catching photos or graphics.

Place multiple signs along the property’s frontage at different spots drivers must slow down. The more they see your vibrant signage, the more curious they may become. Direct interested drivers to your website or online listing for more info.

8. Offer Owner Financing

This creative tip can really get things moving. Offering owner financing presents an appealing option for buyers who may not qualify for traditional lending. It expands your pool of potential buyers.

With owner financing, you collect monthly mortgage payments at a set interest rate from the buyer until the property is paid off. A real estate lawyer can help structure the agreement. While waiting a few years for payoff, you quickly free up cash from the sale to reinvest.

9. Consider Dividing Acreage

If your large parcel has multiple road frontages or other natural divisions, explore subdividing or partitioning off just a portion of the land. You may be able to create a few smaller, more affordable listings.

Maybe slice off 5 or 10 acres with the pretty creek frontage. Or partition the elevated back acres with mountain views. Creating smaller chunks that are easier sales can help you sell a section faster.

10. Offer “Act Fast” Discounts

Here's one last creative option - offer an incentive if buyers act super quickly. Maybe advertise something like "3% price reduction if closed within 10 days of contract."

This capitalizes on a sense of urgency. Savvy buyers may leap at the deal to score instant equity in their purchase. You'll trade a small discount for the security of rapid sale.

Selling land in Tennessee takes effort. But creatively maximizing your marketing and listening to what buyers want can build more buyer traffic. If selling quickly is your priority, partner with an experienced agent and be flexible. With the right moves, you can convert your property to cash faster.

Common Mistakes That Slow Down Land Sales

When you want to offload your land quickly, there are certain missteps that can sabotage your goals and drag out the sales process. Be aware of these blunders to avoid:

Overpricing

This is one of the biggest pitfalls sellers face. If you price too far above actual market value, you will deter most buyers. Work with an appraiser and agent to set a competitive asking price. Don't get emotionally attached to a high dollar amount that has no basis in reality.

DIY Everything

Trying to sell land solo without any professional help is hard. You miss out on an agent's expertise and marketing connections. At minimum, consult an attorney to handle contracts and paperwork. Don't handicap yourself by tackling everything alone.

Neglecting Marketing

You need to heavily promote your listing across multiple platforms to reach buyers. Just tossing up a basic online listing isn't enough. Print classified ads, website, social media, signage and email outreach are all key for broadcasting the sale.

Being Inflexible

To sell quickly, you need to accommodate buyers. Be flexible on terms, financing, closing dates and other factors. Saying "my way or the highway" turns off buyers with cash in hand. Look for win-win compromises.

Selling land requires effort and know-how. Avoiding these common pitfalls will help your Tennessee property sell faster.

Final Thoughts

Selling land quickly often requires creativity and compromise. But with the right prep work and marketing, it is possible to get your Tennessee property sold faster than average. Work with experienced local professionals to tap their expertise. Set a competitive price and flaunt your land’s uniqueness. Cast a wide buyer net and be flexible to clinch the deal. With these pro tips, you can turn your acreage into cash more swiftly and move on to other ventures. The rewards of a faster sale make the effort worthwhile.

Frequently Asked Questions (FAQs)

Should I get an appraisal before pricing my land?

An appraisal is strongly advised so you can price your land competitively. Appraisers know the Tennessee markets and recent comparable sales. This helps you objectively set an asking price attractive to buyers. Overpricing is one of the biggest mistakes that keeps land sitting unsold.

What photos help land sell faster?

Great photos are crucial for online listings. Go beyond basic snapshots and take high-quality images showing off rolling hills, wooded areas, waterfronts or mountain views. Get golden hour lighting for prettier landscapes. Showcase flowers blooming or fall colors. Capture families hiking/fishing so buyers visualize enjoying the land.

Should I offer owner financing to buyers?

Owner financing can expand your pool of buyers, especially first-timers who may not qualify for traditional lending right away. You carry the mortgage and collect payments over several years until the property is paid off. It provides you with a steady income stream while the buyer gets more flexible terms.

Is it smart to subdivide or partition off part of my land?

If your large parcel could logically be split into smaller segments, creating separate listings for chunks of acreage is smart. A 5-10 acre creekfront or elevated hilltop is more affordable and may sell lightning fast. You can cash out on a portion faster while retaining the rest.

What are signs a buyer is serious?

Serious buyers will act decisively, make a solid offer, put down earnest money, agree to reasonable terms and want to close quickly. Flaky buyers who hem and haw over trivial details or seem in no rush even after months of browsing probably won't pan out. Focus energy on motivated buyers who show they are ready to purchase.

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