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Cracking the Land Acquisition Code: How Land Acquisition Has Changed & How to Succeed

November 20, 2012
Land Acquisition
By: Richard Lin

We recently hosted a webinar about the changes occurring in land acquisition and offered some ideas on how builders and developers can leverage location technologies to succeed in the land game. The webinar was a great success and so we thought our blog readers might enjoy learning some of the valuable tips too.

Land Acquisition Webinar

Stay Competitive When Land Acquisition has Changed

As most people know by now, the hay-day of fringe development is over and the focus has shifted to infill, transit-oriented, and multifamily development. Yet, parcels suited for these types of development are in short supply, and as a result competition among builders and developers is fierce. In addition, consumer expectations for housing are shifting. As the era of -one-size-fits-all housing comes to a close builders and developers need to realize the new housing consumer expects options for multigenerational living, close proximity to job centers and public transportation, and access to great schools, nightlife, and walkable neighborhoods.

Tips for Finding and Acquiring Land

So what can builders and developers do to get back in the land game and flourish among these changes? Below are some best practices tips you can get started utilizing right away that will keep you on the top of your land game:

Know the Supply

It’s no longer enough to just track new home sales. Instead, you need to think outside the box and consider other key market drivers like resale listings, rentals, underwater properties, and foreclosures.

Know the Demand

Utilize demographics and cross-tab analysis to locate your optimal target segments. Correlate these metrics with available supply to identify unmet demand. Make sure to pay close attention to factors that influence consumer housing demand like the health of local employers and recreational amenities.

Embrace Mapping

Mapping is a great way to familiarize yourself with your market’s landscape. Use mapping to conduct searches and hone in on viable parcels for development. Mapping can also help you target buyers, analyze market health and spot trends.

Track Key Metrics

Tracking key metrics such as transaction volume, absorption, active key players and more will raise your market awareness and enable you to react quickly to opportunities.

Import & Leverage Your Data

Your own data is a great source of information. Data that you’ve hidden away in spreadsheets comes to life when displayed on a map. In addition, you can also leverage data from outside information sources like local government, regional transportation, and real estate market data sets.

Embracing technology and using it to overcome the challenges in land acquisition today will help you succeed. In particular, online mapping lets you reach the property for location data for more thorough development analyses. Maps provide the ideal medium for displaying large amounts of information and make it easy for you to explore your data to find patterns and trends. With the right mapping solution, you can implement the best practice tips mentioned above to begin finding great land deals!

Learn more about real estate & mapping best practices:

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