Thinking of Selling Your Farm?

Have you hit that moment where you think it's time to sell your farm?  The biggest question is how do I choose my broker.  You need to be sure that broker isn't a broker who only sells homes.  Look for someone who specializes in farmland real estate.  Here are seven things you need to think about when it comes to picking your farmland realtor.

1. Your broker should provide to you a market analysis before you list it.  Make sure he or she has done their research before signing onto the dotted line.  You don't want to rely on guessing or rumors going around.
2. Along with being familiar with private treaties, the traditional form of real estate, your broker should also be experienced in auctions.  Auctions are a very big part of agriculture sales and if your broker is unfamiliar with it you're doing your self a disservice.
3. Your broker should be able to identify your lands strengths and weaknesses.  And then be able to properly promote your lands strengths and minimize its weaknesses.
4. Your broker needs to be on the cutting edge of technology along with the traditional methods.  Just putting up a sign and hoping doesn't cut it.
5. Your broker should be able to effectively negotiate with not just local farmers but operations, another broker or attorney, or a group of investors.  It's important to have a veteran broker who's been in the trenches in numerous types of deals.
6. Your broker should be informed of farm tax issues associated with selling a farm.  The worst case scenario for a seller is getting stuck in a nasty situation with taxes.  Make sure your broker can help you navigate and avoid these issues.
7. You broker should be well versed in 1031 exchanges.  If done right, selling your farm with a broker experienced in 1031 exchanges can save you a large chunk of change.

Choosing a informed farm broker is vitally important.  Not only will he or she help you get the highest price for you land, they will also make it smooth and painless.

Who do I suggest you use.  I highly suggest you do your own research for your local area.  However, if you're in the Kansas City area, I highly suggest using the Farmers National KC Team.  They almost only do agriculture sales and are backed by the Farmers National Company out of Omaha, NE.  That allows them to advertise your property more widely and effectively than any other broker in the area.  You can check out their website, email them at info@farmersnationalkc.com or call them at 913-837-0760.