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Tractor Talk Discussion Board

Re: Selling property and using a broker need imput


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Posted by JD Seller on October 11, 2015 at 08:52:52 from (208.126.198.123):

In Reply to: Selling property and using a broker need imput posted by jocco on October 11, 2015 at 08:39:19:

You did not say where your land is at or what type it is. That makes a BIG difference in how you sell it. An example is farm land here in the mid-west. You really do NOT need a real estate person in the current market. The price per acre has fallen some but the ground is still demanding good prices. So you can sell it very easily yourself around here.

Now if your talking about ground that is more recreational in nature then your going need a broker. You need one that advertises regionally if your land is that type of land. Example would be deer hunting ground. IF it is in Northern MN you need it advertised in the Twin cities. Guys want to hunt away from where they work/live at it seems.

If your ground has commercial or development value then you would need a good commercial broker. You would want one that has done this for a while. You can look at developments around you and see who is selling them.

So it really depends on what you have to sell. Bare farm ground is selling well enough you do not need to give some broker 5-7% to sell it. An ad in the local paper and sign in front will draw you buyers if your price is around market value. Then just have an attorney do the closing paperwork. For the other type of land/property then a broker usually will earn you and themselves the commission. They can easily get you 10-15% more than you could on your own. Especially commercial property. Those buyers are hard to reach and it takes someone that deals with them regularly to help sell that type[e of property.


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