Commercial land in Alaska offers businesses and investors a way to tap into the state’s natural resources and rugged beauty. From hunting and fishing to mining, oil exploration and agriculture, Alaska is home to a wide variety of opportunities for commercial real estate buyers. However, selling commercial property in Alaska presents a unique set of challenges and requires expertise.
The sell commercial land in Alaska typically spans a longer sales cycle than in the Lower 48. In addition, valuations can be challenging given Alaska’s remote geography. But by implementing marketing strategies like price positioning, expanding the listing’s reach and having a real estate agent with experience positioning rural Alaskan lands for sale, commercial land sellers can speed up their sales process.
Sellers who seek to place irrational value on what they think a Buyer may do with the land can anticipate a longer sale cycle, even in Alaska. This is often a sign that a Seller’s expectations aren’t aligned with the market. Unless the offering is truly a one-of-a-kind iconic site with a high likelihood of realizing an irrational premium, the smarter strategy is to focus on de-risking the investment for the Buyer and selling at fair market value.
Successfully navigating the commercial land sales process in Alaska also demands understanding the state’s complex regulations and steps to transfer ownership. This means ensuring the seller completes disclosures, confirms title details and addresses any encumbrances before closing. Additionally, Sellers should ensure they communicate any limitations on the property’s use or what future codes and covenants may affect the structure or site. This ensures a Buyer will not waste time and money due to potential unforeseen constraints.
Selling commercial land in Alaska often involves the use of online platforms to connect with Alaska’s savvy, well-informed buyers. This includes the state’s MLS, which offers expanded outreach across Alaska’s vast geographic footprint. But securing and hosting property showings, fielding inquiries and negotiating offers takes significant time and effort. An experienced real estate professional can help streamline the process by advertising the commercial land across optimal channels, scheduling property viewings and fielding buyer requests.
A real estate professional can also reduce the sale timeline by helping negotiate and manage the closing process for the Seller. This can include negotiating with the Buyer’s lender, verifying property lines and terms, addressing any liens or easements, transferring utilities and completing all final paperwork. This eliminates a Seller’s need to schedule and attend in-person closings when the Buyer lives far away, which can save valuable time and expense.
For commercial land in Alaska, LoopNet is the most popular online marketplace with over 10 million unique visitors to its sites each month. By leveraging the power of LoopNet’s network to showcase commercial property listings, sellers can increase exposure and find the right buyer quickly. For more information about selling commercial land in Alaska, contact an expert real estate broker today.