Have Questions About Selling Farm Land?
We Have Your Answers
As farm land real estate brokers and auctioneers, we know the issues and trends that will impact your upcoming farm land sale. As leaders in the industry, we've spent decades learning while leading clients through farmland sales. We've used this experience and our expertise to develop learning materials just for you.
Frequently Asked Questions
Selecting a Broker
Choose a Broker that Knows How to Help
Working with a farm land specialist helps you cover all the details and achieve a higher return on the sale of your farm property. The sales transaction, however, can be a long and complex process, so you will want to select a broker you respect and trust.
Does the broker:
- Specialize in farm land sales?
- Make you feel comfortable with the sales process and encourage your questions?
- Communicate well, answering questions and explaining terms and procedures clearly?
- Know farm land values in your area and provide you with comparable sales information?
- Actively cooperate (i.e., share the commission) with other brokers to achieve the best sale possible?
- Understand complex financing arrangements?
- Deal regularly with out-of-state and/or institutional buyers?
- Have experience in tax-deferred exchanges?
- Sell via brokerage and auction to give you the best options in marketing your property?
- Have experience in selling both large and small parcels? Expertise in selling a 100-acre single parcel is different than selling a 1,000-acre parcel that could be single or multi-parcel, or selling a 10,000-acre farm that would most likely benefit from a multi-parcel sale.
Maximizing Your Return
Knowing whether an auction sale is right for your property depends on your goals for selling, the physical land features, and the current market demand in the region. Other issues to consider include:
- Do you want a more immediate sale or have time for lengthy negotiations?
- Are there risks in setting the list price too high or too low?
- Do you need to control more terms of sale than a brokered deal will allow?
- Is your farm land in a distressed area that might diminish auction returns?
Choosing the right auction company will also be critically important to the success of your sale. Before hiring any firm, find out if they: