Industry NewsNews Brief

Educate your clients before they buy or sell land

3 places to look for hidden deal breakers

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

Acquiring land and building houses, barns and businesses used to be a lot easier. Take the land runs of the 1890s. All a person really needed was a fast horse and hammer. Nowadays, there are endless hoops to jump through, it takes a lot of money, and there are 12,862 rules. Helping a client buy or sell vacant land isn't as easy as you might think. And you better think. Buying land and building on it isn't straightforward. Neither is selling bare land (simple as it may sound). Thus, "Buyer beware!" is a phrase lazy Realtors repeat in their minds as they overlook three essential and elemental areas in which to educate their client: covenants, conditions and restrictions (CC&Rs); architectural review committees (ARCs); and development costs. CC&R deal breakers If you don't do it already, start reading the CC&Rs of the neighborhoods in which you sell. You will learn invaluable information. CC&Rs don't just cover whether or not a trailer can be parked in a dr...