One of the most difficult decisions is to sell land. People become attached to our land; it represents so many unique things to people. For some it is a family legacy that has been shared for several generations, for many it is home where the they have worked to make it their own special place in the Lone Star State. Others it has been the sources of their livelihood and many tireless hours have been invested in making their land productive. Many have the pleasure of land being their “get away” from the craziness of the city – sharing many fun packed days with their families and friends.
When the decision has been made to sell there are important things to consider:
• Do you hire a Ranch and Land specialist, to list and market your property, or do you attempt to “sell by owner” (SBO). In 2021 the NAR (National Association of Realtors) found that properties listed with a brokerage sold for an average of about 19% more that those sold by owners. After factoring in negotiated commissions still results in an additional gain for the seller. And……in most cases when people “sell by owner” still pay an agreed upon commission to an agent who brings a buyer to them.
• Determine a selling price. There are many factors that are considered when setting an asking price for land. An experienced Farm and Ranch brokerage will consider current sales and trends for the market place. They will provide you with a market analysis based on your land, location, improvements, potential uses, condition of the property, and other attributes.
• How to market the property? Farm and Ranch specialist have many relationship with other real estate professionals and also with potential buyers for your property. They use many social media platforms and MLS listing which feeds other sites. Many use other forms of marketing including email blast, property brochures, print media, and signage. At Ranch Connection we even pick up the phone to contact anyone we know that we believe would want hear about your property, we keep a data base for that purpose!
• Showing the property. A person who has interest in a property are going to want to see it in person – this can be inconvenient unless you have a Farm and Ranch agent to facilitate your property showings. Your listing agent can also verify, in advance, which potential buyers are both serious and can qualify to purchase and not just “tire kickers”.
• Negotiating the deal. It is not just throwing a price out there and shaking hand, there are other things that need to be considered such as; concessions made by the seller, closing deadlines, in land transactions there is a feasibility period so that the buyer can do their due diligence, and communicating offers and counter offers in an efficient way to assure that the buyer stays interested in the deal.
• PAPERWORK. It is critical that paperwork is done correctly and deadlines are met. If not, it could result in issues long after the sale is completed.
• What are RANCH/LAND Real Estate Agents – they are more than a salesperson. Your professional Ranch brokerage wears many hats
o Inspectors – reviewing with the seller the positive attributes of the property but they item that if repaired and cleaned up will enhance and result in a quicker sale and possibly increase what a potential buyer is willing to pay for a property.
o Marketer – presenting the property in the best way using professional photography and videography. Managing social media campaigns, advertising, and promotion of the property.
o Tour guide – they are available to show property when it is convenient for both the seller and buyer. During this time, they point out all the attributes of the property and listen to the potential buyer to determine what they like or dislike.
o Project Manager – the land professional manages all the efforts and communication required to finding the right buyer for your land!
In conclusion, at Ranch Connection we work for you. We listen to you and your needs, we will share all the information we believe is important throughout the sales process, but in the end, we respect your thoughts and will always abide by your decisions. At Ranch Connection we have been matching sellers and buyer together since 1984.
If we can assist you with selling your ranch/land please contact us at cynthia@ranchconnection.com
Please visit our website at www.ranchconnection.com
Dave Norris – davenorris@ranchconnection.com
