Choosing the Best Farm or Ranch Broker
1. A good broker should be willing to provide you a free market analysis of your property before listing it for sale. You don't want to rely on rumors and anecdotal information about what land is going for when you are deciding to sell.
2. Your broker should have experience with private treaty sales as well as auctions, and be able to help you determine which is the best option for you.
3. The broker you choose should be able to identify and minimize issues that could reduce the value of your land while pointing out opportunities to increase its value.
4. Your broker needs to be using cutting edge technology in todays farm and ranch real estate market. Running an ad in the paper and putting the word out to your neighbors just doesn't cut it anymore.
5. The broker you choose must be able to negotiate effectively whether he is dealing with a neighbor looking to expand his farming operations, another broker or attorney representing a potential buyer, or a group of investors. When it comes to negotiations, one size does not fit all.
6. A good broker should be familiar with the legal and tax issues typically associated with the sale of farms and ranches. This can help you avoid a lot of problems along the way. And as they say, "An ounce of prevention is worth a pound of cure."
7. Your broker needs to fully understand and have experience with 1031-exchanges if you are considering this type of transaction. Not getting it right could cost you a big chunk of the farm. Choosing the right farm or ranch broker will not only help you obtain a top price for your property but will facilitate a smooth transaction.
Keep these seven things in mind and you will be well on your way to choosing the right broker for the job. For full article go to LandThink.com