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FARMERS NAT'L CO. ON WHAT IT TAKES TO SELL A FARM TODAY
Source: blog by Randy Dickhut, Sr VP/Real Estate Operations, Farmers National Co., Omaha, NE

A person might think it is easy to sell a farm today. Yes, it is easier to sell any real estate when a low supply and good demand for properties is propelling the bidding and price.

The current housing market is a prime example of the aggressive bidding that pushes prices higher. As we have discussed, aggressive bidding is pushing prices higher for good farmland too. But, there is more to selling a farm than throwing out a for sale sign.

First, you need to know the farm. Knowing and understanding soil types, productivity potential, conservation measures employed, drainage, water rights and quality if applicable to the property, all go into how to price and how to market a farm.

Secondly, one needs to know the local land market. Are there aggressive buyers in the area? How much land has been sold recently or is currently for sale? Are there recent sales of comparable farms to determine an expected selling price? The local agent who knows the farms in the area and also knows the local land market can then recommend the best way to sell the farm.

A very important factor in selling a farm today and getting a top price is the comprehensive marketing employed to get the information out to all potential buyers. The marketing campaign should be tailored to the region and to the type of farm being sold.

Marketing farms and ranches today can include traditional ads in publications and newspapers, flyers, postcard mailings, postings in many listing services, a full range of digital advertising campaigns and more.

Recent Farmers National Company auctions are a good example of the comprehensive effort it takes to sell a farm today and get the best price. The local agent who knows the land and the market, works with all the different support experts in the company to develop and employ the full range of marketing strategies that will bring a successful sale. Combinations of online and in-person bidding at recent auctions created competition and better sales prices. In the end, it takes many aspects executed well to successfully sell a farm today.


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