Questions to consider when selecting a professional
to handle a brokered or private sale:
- Does the broker specialize in farmland sales?
- Does the broker make you feel comfortable with the sales process and encourage you to ask questions?
- Does the broker communicate professionally with you, answering questions and explaining terms and procedures clearly?
- Is the broker knowledgeable about farmland values in your county or area? More importantly, has he/she provided you with recent comparable sale information to support this value?
- Does the broker actively cooperate (i.e., share the commission) with other brokers to consummate the best sale possible?
- Does the broker understand complex financing arrangements?
- Does the broker deal regularly with out-of-state and/or institutional buyers?
- Is the broker experienced in tax-deferred exchanges?
- Is the broker experienced in selling via brokerage and selling via auction so you can get an objective opinion on the best way to market your property?
- Does the broker have depth of experience in selling both large and small parcels? There's a lot of difference in selling a 100-acre single parcel, a 1,000-acre parcel that may be single or multi-parcel, and a 10,000-acre farm that will probably get the best price through a multi-parcel sale.
If you can't answer "yes" to all these questions, contact Loranda Group and we'll help you evaluate the long-term potential of different properties for achieving your specific goals.