We Sell Farm & Ranch Real Estate...Differently

THE RIGHT BROKER

NOW MORE THAN EVER, YOU NEED THE RIGHT BROKER
Owning property is one of the biggest investments you’ll ever have. If and when the decision to sell is made, and now with a downturn in the ag economy with fewer buyers, it’s even more important to involve a professional to insure a thorough and successful transaction. Be sure to choose the right real estate broker – one who knows the ins and outs of both the transaction and the market conditions.

Here are reasons to use a broker:

1) BUFFER/COORDINATOR.
A broker acts as a buffer between buyer and seller, allowing all parties to make sound, independent, unbiased, and unemotional business decisions. A broker also coordinates all people involved in the transaction such as attorneys, bankers, CPAs, title agents, lenders, and tenants.

2) MARKET EXPOSURE. Brokers can offer a property for sale to a broader market of potential buyers. A broker has a network of buyers, past clients, cooperating brokers, internet presence, business associates, and a working knowledge of how and where to expose property for sale.

3) EXPERIENCE. The more sales a broker has consummated, the more experience is gained to benefit each and every future transaction. This experience aids in the facilitating, marketing, and negotiating of each transaction to save time and increase the odds of a successful sale. Does the broker have the relationships with the proper professionals, buyers, and relationship skills to work with the sellers to make the transaction work?

4) SPECIALIZATION. A broker who specializes in farm and ranch real estate is knowledgeable about mineral rights, water rights, government programs, soils, land values, market trends, basic legal and tax issues, EPA concerns, county planning, and zoning laws that affect property ownership.

Here are qualities to look for when choosing a broker:

1) TRUST. When working with customers, is the broker known for integrity? Can you trust that all information will be represented accurately? Will documents be completed and handled appropriately? Will all business affairs be held in confidence? Will the broker be transparent, empathize with the situation, and facilitate a transaction to solve the situation for the client?

2) TRACK RECORD. How many properties has the broker sold? How many properties that the broker lists actually sell? How long does it take to sell? How does the sales price compare to the original list price? Does the broker offer a choice of selling by private listing or by auction?

3) KNOWLEDGE. Does the broker have the experience and knowledge of capital gains, 1031 tax deferred exchanges, mineral rights, water rights, farm leases and market values, etc. to alert the property owner of potential problems, negotiate a proper transaction, and/or refer to a proper professional to assist you? What knowledge, experience, and network does the broker have with qualified intermediaries, CPAs, attorneys, and title companies, etc. to assist in structuring your transaction?

4) REALISTIC. Each transaction is important and requires major decisions with financial, tax, and legal consequences. Does the broker list property at the price predetermined by owner or is the broker realistic about the market conditions and opinion of value? Remember, you are not hiring a real estate professional for what you want to hear, but for what their professional opinion and expertise is.

5) COMMITMENT. Does the broker make a full-time living from real estate sales? Does the broker keep abreast of new marketing strategies, industry standards, real estate laws, and on the leading edge of using technology? When making the all-important decision to buy or sell real estate, consider the things mentioned above as a TOTAL PACKAGE to help you choose the right broker to best serve you and your needs.

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