How an Auction Can Work for You
The decision to sell your farm is often difficult. The next decision, on how best to sell your farm, may be equally difficult. Our experienced staff will discuss with you the advantages and disadvantages of a private sale versus public auction. We will listen to your goals and objectives, and design a marketing plan that takes into account your farm’s specific attributes.
We have the experience and expertise to guide you through the process of selling your farm.
- Bruce Huber is a licensed auctioneer, Managing Real Estate Broker, State Certified General Appraiser, and Accredited Farm Manager with over 25 years’ experience.
All of our staff are licensed real estate brokers with three State Certified General Appraisers and four Accredited Farm Managers. Our broad range of experience provides an unsurpassed understanding of the farmland brokerage market.
We understand that auctioning farmland is a serious endeavor involving substantial funds for the seller and buyer. We treat the auction process in a respectful professional manner. We go to great lengths to make sure all parties fully understand the auction process and have all the information available on the farm to be sold.
Our market research identifies potential buyers. We make sure they have complete information and are comfortable with the process. Elimination of uncertainty and doubt makes the potential buyers more confident, providing for a successful auction process.
Advantages of an Auction
- Date of sale is set – The auction process eliminates the delays of a sales negotiation. Typically the sale closes 30 to 45 days after auction. Total marketing time will likely be shorter and less contentious than a private sale.
- Day of sale competition – The excitement of an auction generates a sense of urgency for the buyer. Simultaneous competition among buyers and the ability to force buyers into actions under the right circumstances may result in a price higher than a brokered private sale.
- Contingency-free contracts – Terms and conditions are set in advance saving time, fees, and frustrations. Only price is negotiated with the focus on the farm to be marketed.
- Marketing the same as a private sale – Listed below is a summary of how we market farms we auction.
Marketing Your Property
We provide a comprehensive plan for maximum exposure when marketing your land, including:
We thoroughly research your property and provide as much information to the buyer as is available including: location, FSA data, current lease, yield history, soil map and PI’s, fertility, real estate tax information, terms and title.
One-on-One Contact with Potential Buyers
We are active in farm real estate brokerage and maintain direct contact with investors.
- Brochure – contains complete information about the farm for sale, mailed to hundreds of potential buyers, and personally delivered to local ag establishments
- Seasonal Newsletter – includes detailed information about the farms we have listed for sale
Each farm we broker is listed on our website, along with all of the pertinent information a buyer would need to make an informed decision.
We provide visible signage to ensure your property is noticeable to passersby. Contact information, date, time, and location of auction are included on the sign posted on the farm for sale.
We advertise in local and regional newspapers on a regular basis to ensure that the largest number of potential buyers is aware of your farm to be auctioned.
Alternatives to Auction
We also discuss with you the potential disadvantages to auctions. Some properties are not well suited to auctions. The farmland market changes, and there are times when auctioning will generally produce the best results, and there are times when auctions prove to be less successful.
Staying at the Forefront of Agricultural Real Estate
In order to offer you the best service, we stay knowledgeable of the trends and information in the industry. We know how important it is to be informed about the latest:
- land values and the driving forces behind trends in values
- supply and demand issues
- taxes for buyers and sellers and their influence on the market
- gross income, expenses and net returns
- interest rates and inflation
- ownership and lease options, including crop share and cash rent
- possible risks and minimizing exposure
- government programs and their effects
- soil productivity and conservation
Our farm management and appraisal experience lends an additional level of expertise in evaluating farm properties.