I don’t know about you, but this seems to happen to me every time I’m on the verge of a sale.
I get a bunch of people looking to buy the lot that I’m in the process of selling (or just recently sold) to someone else.
Let me back up a bit…
When selling your land parcel, you may experience this almost predictable cycle.
First you put the property for sale, and put your listings up.
Since it’s a new listing, you will get some interest in the property, but nothing earth shattering.
Then, after a few days to a week, if the property didn’t sell in that initial flood of intrest, the activity for the property dies down.
Then theres not a lot of inquiries about the lot, but theres some.
Perhaps at this time, you lower the price a bit to get intrest back up.
Anyway, for some reason, the interest in the property skyrockets….you can feel the sale will happen soon.
You get more people asking the right questions and showing the signs of being serious buyers.
You haggle on price and you come up with a sale price that you are satisfied with.
Someone signs the purchase agreement and is ready to pay (or make a down payment)
And that’s when it happens.
Another person is ready to buy now and says they have cash in hand.
Now, back in my less experienced days, this other buyer would have me ready to abandon the person who is mid process of buying.
Why?
Because this new person is claiming they will pay more (maybe they will pay full price which is more than what you negotiated with the buyer you got on the hook)
Well, let me tell you, don’t listen to this new buyer!
They are fool’s gold!
Case in point, today I got a message from a landwatch lead saying “consider this lot sold!”
This is right after I sold the lot to someone else for a 2 payment plan.
So, I contact the lead and guess what?
They can only put $200 down…
Pass.
Now, I knew there would be a catch, but I always reach out to the new leads because I want them on my buyers list.
I also want to let them know that I’ll get more properties in stock soon, so be ready for my next contact.
However, I will give this new prospect to pay more for the property and create a bidding war…but that never really happens.
So, why am I telling you this?
Most people don’t reach out to the new lead to find out that they are fool’s gold, and assume the “offer” is a legit one.
Now, the land investor is agonizing over “lost money” since they coulda sold the land for more…but its not true!
Never believe the prospect until they have put money in your bank account!
Sleep easy at night knowing you get the best deal and if that other person is serious, they will get your next lot.
Anyway, I’m just giving you a heads up…don’t make rash decisions or beat yourself up over perceived money.
I don’t know about you, but where I’m from, only real money matters, not “what could have been”
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