OZ Talking Points for Your Next Listing Appointment

Your clients will ask about Opportunity Zones, usually in one of a few ways: “Can I avoid the tax on this sale?” “Is my property in one of those zones?” “Should I wait for the new map?” This page is the hub for our series for real estate agents and brokers. It gives you a short, accurate answer to each question and links to a full guide and a free tool you can use with the client.

The goal isn’t to make you a tax advisor. It’s to help you have a confident first conversation and send the client to their CPA with the right questions.

The series

1. How to avoid capital gains tax on real estate: where OZs fit. The home sale exclusion, 1031 exchanges, installment sales, and where an Opportunity Zone fund fits.

2. Is your listing in an Opportunity Zone? How agents check in 60 seconds. Look up the census tract, read the result, and know what you can put in a listing.

3. Can you 1031 into an Opportunity Zone? What to tell clients. Boot, failed exchanges, split sales, and zone-located replacement property.

4. OZ 2.0 for brokers: which listings could land in a new zone in 2027. Sort listings by OZ 2.0 status and know what not to promise yet.

5. The 180-day clock for sellers. When the Opportunity Zone deadline starts, how closing dates move it, and the 2027 straddle.

6. Marketing a property in an Opportunity Zone. Listing copy that holds up, an OZ fact sheet, and which buyers to reach.

7. Capital gains tax on a land sale, and selling to opportunity funds. How land gain is taxed, ways to defer it, and what fund buyers need.

8. The substantial improvement rule for buyers. Why the land and building split decides what a fund can pay.

9. Depreciation recapture for selling landlords. How recapture is taxed, a worked example, and what each option defers.

10. Capital gains tax on rental property. How the gain is figured, which rates apply, and the deferral options.

11. Capital gains on inherited property. The basis step-up, and the limited cases where an Opportunity Zone fund helps.

12. The Section 121 home sale exclusion. The $250,000 and $500,000 limits, the two-year tests, and gain above the exclusion.

13. Capital gains tax on investment property. Shared rules, dealer status, and a guide for each property type.

14. The 1031 exchange 45-day rule. Identification rules, your role, and the backup plan if day 45 slips.

15. Capital gains tax on a second home. Why the exclusion usually doesn’t apply, and how rental use changes the rules.

16. Capital gains tax on commercial property. 39-year depreciation, cost segregation, price allocation and deferral.

17. Selling a business with real estate. Price allocation, keeping the building, and Opportunity Zone deferral.

18. Capital gains tax on farmland. §1231 rules, recapture on bins and machinery, and rural Opportunity Zones.

19. Rural Opportunity Zone map. What counts as rural, how to find rural tracts, and what the label does.

20. Are Opportunity Zones a good investment?. The pros, cons and risks, and questions a client should ask.

21. Opportunity Zone mutual funds and ETFs. Why an ordinary fund doesn’t give OZ benefits, and how QOFs are offered.

22. Texas Opportunity Zones for agents. The 608 nominated tracts, how to check a listing, and talking points.

23. Florida Opportunity Zones for agents. Where Florida’s nominations stand and what to say meanwhile.

24. IRS Notice 2026-55 explained. The six topics Treasury wants comments on, and what it doesn’t change.

25. Buying a home in an Opportunity Zone. Why living there gives no OZ tax break, and what buyers should know.

26. Arizona Opportunity Zones for agents. The 125 tracts on the filed list, 3 outside the eligible list, how to check a listing, and talking points.

27. Colorado Opportunity Zones for agents. The 91 filed tracts, how to check a listing, and talking points.

28. Delaware Opportunity Zones for agents. The 25 filed tracts, how to check a listing, and talking points.

29. Georgia Opportunity Zones for agents. The 235 filed tracts, how to check a listing, and talking points.

30. Idaho Opportunity Zones for agents. The 25 filed tracts and why they aren’t certified yet, how to check a listing, and talking points.

31. Indiana Opportunity Zones for agents. The 126 filed tracts, how to check a listing, and talking points.

32. Massachusetts Opportunity Zones for agents. The 104 filed tracts, how to check a listing, and talking points.

33. Nebraska Opportunity Zones for agents. The 28 filed tracts, how to check a listing, and talking points.

34. South Carolina Opportunity Zones for agents. The 112 filed tracts, how to check a listing, and talking points.

35. Utah Opportunity Zones for agents. The 37 filed tracts, how to check a listing, and talking points.

36. Washington Opportunity Zones for agents. The 99 filed tracts, how to check a listing, and talking points.

37. New Jersey Opportunity Zones for agents. The list expected by October 28, the 518 eligible tracts, how to check a listing, and talking points.

38. Oregon Opportunity Zones for agents. 106 local applications for 58 slots, the October 28 deadline, how to check a listing, and talking points.

39. Pennsylvania Opportunity Zones for agents. DCED’s draft map of 208 tracts, the October 28 deadline, how to check a listing, and talking points.

40. Alaska Opportunity Zones for agents. The 25 filed tracts, why the list isn’t public yet, how to check a listing, and talking points.

41. DST vs Opportunity Zone fund. How a Delaware statutory trust and an OZ fund each defer a seller’s gain, side by side.

42. When do Opportunity Zones expire?. The 2018 zones run through 2028, OZ 2.0 zones start in 2027, and what to say about a listing.

Talking points, by client question

”What is an Opportunity Zone?”

“It’s a low-income census tract where investors who put capital gains into a qualified opportunity fund get tax benefits. The fund invests in the zone; you don’t have to live or buy there.” For background, see what is an Opportunity Zone?

”Can I avoid the tax on my sale?”

“Maybe part of it. If this was your home for two of the last five years, a lot of the gain may be excluded. If it’s a rental, a 1031 exchange or an Opportunity Zone fund can defer the gain. Your CPA should run the numbers before we list.” Tools: the 1031 vs DST vs Opportunity Zone calculator and the Opportunity Zone tax benefits guide.

”How long do I have after closing?”

“For an Opportunity Zone fund, generally 180 days from the day the gain is recognized, which is usually the closing date. For a 1031, 45 days to identify a replacement and 180 days to close.” Tool: the 180-day deadline calculator. Guide: the 180-day clock for sellers.

”Is my property in an Opportunity Zone?”

“Let’s check right now.” Paste the address into the OZ 2.0 likelihood checker or search the Opportunity Zone map. Then explain which map you mean: the 2018 zones, which run through December 31, 2028, or the OZ 2.0 tracts, which take effect January 1, 2027.

”Does that make my property worth more?”

“Not by itself. It can widen the buyer pool to include opportunity funds, which mostly want land or property they’ll build on or substantially improve. We’ll still price from comparable sales."

"Should I wait for the new map?”

“The new OZ 2.0 zones take effect January 1, 2027. Your governor has nominated tracts, but Treasury hasn’t certified any state’s list yet. We can check where your state stands on the nomination tracker, but I wouldn’t hold a sale for it without your CPA’s advice."

"Can you recommend a fund?”

“I can’t recommend investments. The Opportunity Zone funds directory lists funds with their SEC filings, and your financial advisor can review them with you."

"What paperwork is involved?”

“If you invest in a fund, you elect deferral on IRS Form 8997 with your tax return each year. The fund itself files Form 8996.” Tools: Form 8997 helper and Form 8996 helper.

Five rules for agents

1. Say which map. “2018 zone” and “OZ 2.0 nominated tract” are different things.
2. Don’t call a nomination a zone. A nominated tract isn’t a zone until Treasury certifies it.
3. Don’t promise tax results. Refer to the CPA, every time.
4. Date your facts. OZ 2.0 status will change in the coming months.
5. Use primary sources. The IRS, CDFI Fund, Rev. Proc. 2026-14, Public Law 119-21, and your state’s economic development agency. Our tracker links to each state’s own notice.

More reading on the rules

• 1031 and Opportunity Zone: how to compare and combine them
• OZ 1.0 vs OZ 2.0
• Opportunity Zone real estate investing
• What is a qualified opportunity fund?

Sources: IRS, Opportunity Zones; CDFI Fund, Opportunity Zones; IRC §121; IRC §1031; IRC §1400Z-1; IRC §1400Z-2; Rev. Proc. 2026-14; Public Law 119-21.

Not tax advice.