Escrow Trust Advisors | Do You Have Clients Who Are Buying or Selling Land?
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Do You Have Clients Who Are Buying or Selling Land?

Do You Have Clients Who Are Buying or Selling Land?

iStock_000010054226XSmallReal estate agents make daily recommendations to their clients about specifics in real estate dealings, including specific homes, offering community information and more. But what happens if you have clients who are buying or selling land? It’s not nearly the same transaction as a traditional home purchase or sale, and because of the different rules and regulations, it’s important to know how to work with these kinds of clients.

Development Costs: If you have a client who is buying land, you should start by asking what their intentions are for the parcel. This is important so you can inquire about zoning restrictions and ensure that the piece of land is a good buy for their needs. Additionally, you should advise your clients to have a soil sample and land survey taken, and also talk to them about easements, utilities, access, and more.

CC&R: Covenants, conditions and restrictions are a neighborhood-specific set of rules and regulations that dictate what you can and cannot do to your home. As a real estate agent, it’s important to know the CC&R’s forward and backward to best advise your clients. If they have a huge RV or always imagined themselves living in a home with a white picket fence, make sure these are an option before they sign on the dotted line.

ARC- Architectural Review Committee: Your job as a real estate agent technically ends once your client purchases a parcel of land, but a great agent always goes above and beyond for their clients. If there is an ARC, or architectural review committee, in place where your client is buying, make sure you describe what this is. This is especially important if your clients are planning to build a home from the ground-up. Make sure they discuss any pre-existing design ideas with the ARC before they complete the purchase to avoid disappointment down the line.