How do you sell my farmland? There really are two options and depending on the marketing plan you desire that may be a private treaty listing or an auction.
1. Farmland Listings: Listings are the best method to sell your farm in certain cases. A listing is a typically listed for a period of time for a broker to advertise and attract a buyer and solicit offers on the property.
Listings are a straight forward process but they are slow and offer very few options beyond some advertising choices. We provide listings in states where we are licensed as a real estate broker.
2. Farmland Auctions: Selling farmland by auction is the most popular method and it offers many options for both buyers and sellers. This asset has a much higher demand, a much larger buyer pool and offers a greater return. Auctions give us the ability to create competition for the asset resulting in the highest offers for the farm. We provide land auction services in Iowa, North Dakota and Missouri
Auctions are a fast process which allow you to cut your holding costs very quickly and offer the most options to the seller. While some may feel that an auction doesn’t offer many options the opposite is true. With a listing the buyer makes and offer to the seller but with an auction the seller makes the offer to all the buyers at one time allowing them to complete.
There are many different kinds of auctions and DreamDirt offers you every auction type imaginable. The traditional live public auction with online bidding tends to achieve the best results. This allows bidders to bid onsite at the auction, or from our website or from our bidding app on a smart phone or even bid absentee by leaving bids with the auctioneer prior to the auction. We do offer live auctions, live/online hybrid auctions, online only auctions, sealed bid auctions and more.
With a listing the seller puts the property up for sale and waits for offers from buyers. Listings can take 6, 12 even 18 months to sell. Typically when a farm is priced correctly it should take 1- 6 months to sell a farm by listing. Some sell immediately and others can take longer. Marketing of these properties is often called “drip” marketing. Properties are typically advertised together in an attempt to attract a buyer.
With an auction the seller offers the farm to all buyers one time and then conducts an event (the auction) to negotiate the highest price. Marketing of auction properties is done by an aggressive “condensed and accelerated” marketing campaign. All ads, flyers, signs, mailings are done at one time with a “due” date (auction) being the end of the marketing period.
Are you considering selling farmland? Its important to consult with our professionals to understand what option fits you and your farm best. You’ll have several options and you can decide what fits your situation.