How to attract a developer to purchase your property? GCA’s tips to getting it right!
Tip 1.
Investigate what your property is currently worth.
Conduct your own research to investigate comparable property sales in your neighbourhood and surrounding area.
Tip 2.
Explore development potential.
Observe what is happening around you.
Are there are any new developments happening in your area?
Contact your local Council to find out what zoning applies to your property
Ask your Council if a re-zoning application would be required before your property could be developed.
Tip 3.
Talk to your neighbours.
Explore whether your neighbours are considering selling or likely to sell in the near future. Combining multiple individual properties into one large property or parcel of land can significantly increase the overall value of each property. Working collaboratively can also provide great opportunities to share any costs relating to applications to Council.
Tip 4.
Consider other options.
Consider the benefits of undertaking a development plan process versus selling via a Real Estate Agent. A development plan process with a stamp of approval from Council can be extremely appealing to a developer. It can also improve your negotiation capacity!
Tip 5.
Talk to a professional who will look after your interests.
It is essential to talk to an experienced professional.
An experienced professional will not only understand the complexities of the development sector, but will also have the knowledge and expertise to look after your interests whilst navigating the pathway to your financial property success.
