How to Harness the Power of Land Brokers with Pat Porter | REtipster Podcast 152

Show Notes: https://retipster.com/153-pat-porter/?utm_source=youtube&utm_medium=social&utm_campaign=podcast&utm_content=9-g3Dw77h4Y
Land Investing Knowledge Base: https://retipster.com/category/land-investing/?utm_source=youtube&utm_medium=social&utm_campaign=podcast&utm_content=9-g3Dw77h4Y
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Pat's YouTube Channel: https://www.youtube.com/@RecLandTalks

0:00 - Intro
1:51 - How long have you been working as a land agent?
2:40 - What made you become a land broker?
4:36 - Agent vs. Broker: What's the difference?
6:25 - How many markets does RecLand work in?
7:48 - Commission for land agents and brokers?
9:14 - How do you find own land deals?
11:19 - What deals would look attractive to you?
12:55 - What properties do you typically list & sell for others
14:20 - Reasons to decline a landowner
17:14 - What % of sellers are returning customers?
18:26 - The biggest driver of new leads?
20:12 - Best-selling platforms for land sales?
24:36 - How do you determine property value?
29:26 - How would you find yourself in another market?
32:09 - Traits of a good land agent?
35:05 - How do you value non-monetizable attributes?
43:43 - Is there such thing as unsellable land?
44:49 - What is a typical timeframe to sell?
49:07 - When to reevaluate unsold properties?
49:56 - Importance of good photos, price, and info in listings
51:36 - Importance of video in higher-end properties
52:38 - Texting vs. Website vs. Phone for sales?
56:53 - Impact of seller financing in land sales?
59:17 - How is your commission paid with seller financing?
59:49 - Bank financing involvement in land deals?
1:04:25 - Why did you focus on land instead of houses?
1:06:19 - What is the best/worst part about being a land broker?
1:08:58 - Is land business the best option for making money?
1:11:05 - How can young adults find career mentors in your field?
1:13:26 - How do you choose where to live for optimal land sales?
1:15:34 - How can boots-on-the-ground help identify unique issues?
1:21:00 - What are common deal killers in property transactions?
1:27:55 - Groundwork needed before asking for property value help
1:32:19 - What are the obligations of listing with you?
1:33:39 - Break down the costs associated with a typical listing
1:35:22 - How to reach out to Pat?
1:36:18 - How did YouTube become part of RecLand's strategy?
1:39:56 - How to get Pat’s book for free?
1:40:26 - What's your top book recommendation?

I recently had the privilege of interviewing a well-known real estate broker specializing in vacant land. His name is Pat Porter with RecLand.

If you’re in the land investing business, you probably know that finding a real estate agent who truly understands vacant land is an incredible asset, and it’s not always easy.

Many real estate agents specializing in houses are somewhat clueless about selling land because it’s just a different type of property requiring a different set of skills, knowledge, and network to sell quickly. Land investors need to know where and how to find agents and brokers specializing in LAND.

I’ve been looking for land agents like Pat to interview because, in some respects, guys like Pat are more knowledgeable about land than most land investors are. They also have connections and work with a lot of other land professionals. People like Pat can shed a lot of light on things land investors need to know about!

In this conversation, we cover various topics every land investor needs to consider.