Should I list my land for sale with a agent?

Question

My grandmother passed away and left 14 acres of prime real estate to her three siblings. Well the land is listed with an agent, zoned residential. Well I own 5 acres next to the 14. The agent asked me to sign w/ her to list it w/ the 14, but why? Anybody that sees the 5 acres next to the 14 will want to buy my 5 acres. And I wont have to give the agent a commission right? Is there any advantage listing my land w/ the other family members?

Answer 1

I don;t know the answer to your question but be very very cautious. If you are not in a hurry to sell, hold on to it. Don't be rushed into anything. Consult widely.

Answer 2

No, if there is already a known market for the property (once the agent lists your adjacent property) you would be wasting agent money trying to find the market that's already there. Nothing prevents you from contacting the buyers of the family 14 acres with your OWN offer to sell an additional 5 acres, and the agent knows this. You can pay a small fee to a lawyer to handle the closing on your sale, separate from the other parcel, if necessary, or have the same attorney do both. The agent seems to be attempting to enhance the commission by adding your property to the deal. You might consider adding the property to the listing for parcel A (14 acres), as long as the agent lets you put in the following sentence: "No added commission due on sale of adjacent 5-acre parcel B." The agent's reaction to this proposal will tell you all you need to know: if it's accepted, then you have someone truly helping you, not just themselves.

Answer 3

You are right...they will probably buy yours too once they take a trip out to the land to see it. Just put a big forsale sign that nobody can miss and make sure you put "5 acres" on the sign or the guy might just think thats the number for the 14 acres.



Although any professional knows that since you arent paying commission they are going to ask for that much as a discount for themselves. So i guess either way, you will end up paying it...unless you get lucky.

Answer 4

If you don't want to pay an agent's commission, then don't list it with her. A lot of people buy land out of the area, buy pics only. Since you won't have them out visiting the lot until after it is sold, you probably won't get as much traffic as you are thinking. If it was developed, that is a different story.