Land brokerage is a very specialized niche within the real estate industry. Although a residential land broker is often involved in major real estate deals, buyers rarely interface with these professionals.
It's easy to overlook the important role land brokers play because most of the work they do happens behind the scenes.
Learn more about the key roles of a residential land broker so that you will better appreciate the hard work these professionals put into making real estate transactions happen in the future.
1. Identify Land Buying and Selling Opportunities
Residential land brokers are always watching for potential land acquisition or disposition opportunities. These opportunities can relate to large tracts of land that developers will use to create new neighborhoods, or they can relate to individual lots that have significant value.
A land broker researches the history of the land. They will check to ensure that the property has no active liens, and verify that the property is zoned for residential needs.
Once the broker is certain that the land would make a good investment, they will seek out a buyer or seller and facilitate the transfer of the land.
2. Act as a Public Affairs Liaison
Land brokers are unique in the sense that they don't just work with buyers and sellers, they often work with the public as a whole.
Many residential land brokers are employed by large development firms. It is the responsibility of the land broker to identify any potential public affairs issues that may arise as a result of their employer's acquisition or disposition of a certain property.
You will often find land brokers working with government officials to discuss land use or address any questions a community may have regarding a tract of land.
3. Conduct Comprehensive Property Evaluations
Land brokers are often called in to complete comprehensive property evaluations before a piece of land is considered for purchase by a major developer. These evaluations play an essential role in determining the land's feasibility as a profitable investment.
A land broker needs to be able to consider many different facets when evaluating a property. Some of these facets include active wildlife protections, city and county permit requirements, and zoning restrictions that are attached to the land.
Without the help of a residential land broker, developers may struggle to identify properties that will meet their construction needs over time. Contact a residential land broker near you to learn more.Share