Selling Vacant Lots in NE & NW Cape Coral

[Rui Torrao]

I have trying to figure out the "best" way to sell vacant lots in Cape Coral. It seems like overkill to use a full service real estate brokerage when there is no home to take pictures of, no keys to manage, no lockbox to install, no appointments to schedule etc. 

Do any of you have experience with selling lots DIY? or are there any flat fee listing services that would make more sense than a full service broker when selling land?

[Jonathan Minerick]

@Rui Torrao There are a ton of flat fee MLS services available (google "Flat Fee MLS")

Here are the big things to look for in a flat fee MLS listing:

1. The listing MUST be on the local MLS.

There are hundreds of MLSs in the United States. Sellers want to be on the MLS that covers the area where their home is located, so they can offer a commission to LOCAL buyer agents.

2. Cost to List + Changes to Listing.

Can range from ~$100-$400 for the exact same listing on the MLS. Watch out for fine print that requires an additional fee at closing - this is a huge red flag. Make sure you are able to make changes to the listing after it has been posted for a nominal fee. Most sellers use ~5-6 changes. Note that a change can be anything such as pictures, description, price, and status.

3. Photos on MLS.

Make sure you can upload at least 12 photos. Some services offer a great price, but it's only for 1 photo - which is not useful for most properties. Home buyers are very easily visually influenced. Pictures work wonders and numerous studies have shown that pro photography pays for itself many times over.

4. Length of Listing.

Get at least a 6 month listing and be sure that there is no charge for cancellation. 

5. Fine Print.

You should never be required to use any closing service (e.g. escrow) provided by the flat fee service agent. Read the listing agreement carefully - you will be required to sign it in every state.

6. Be Careful With Referral Services

Many of the flat fee MLS listing service providers you come across on the internet are actually just middlemen. These referral services find flat fee agents in each state and then advertise flat fee MLS listing service to sellers. These referral services have you add property info, photos, etc. but then send your info to the listing agent who does the work (and gets paid by the referral service).

Bonus Points

You should also consider the ease of use of the flat fee MLS listing provider, for example, can you complete everything online? How quickly is the listing added to the MLS? How quickly can changes be made? Is the agent easy to get in contact with?