“Who should I list or buy my land or rural property with?” is a question I was asked this week by an owner in Kansas. Many landowners and rural property are faced with this tough decision once they have decided to sell or buy their land or rural property and do so using an agent.
All licensed real estate agents are not equally good at helping you buy or sell your rural property. If you owned an exotic car, you would not take it in for maintenance to a small engine shop for repairs. Listing your hunting land or farm with a predominantly residential real estate agent can be a mistake as well. Landowners and buyers need to choose an agent and a company that can market and sell their rural property in a way that meets the sellers’ and buyers' objectives.
Since all real estate agents are not equally knowledgeable and skilled at selling land or finding the rural property, how should you select the right agent? Here are a few suggestions from a rural agent’s perspective that I think are fair and will help you choose a professional who can help you get the deal closed.
1. Ask your friends and family. Ask people you know who they have used to sell to buy their land or rural property and if they would recommend them to you. This is usually one of the natural steps and most effective ways of finding someone you will feel comfortable with.
2. Google search for relevant terms like” rural property for sale in Kansas or Missouri”, If you are an out-of-state or out-of-area landowner who wants to sell their rural property, but you do not know anyone in the area this can be a helpful tool for identifying potential agents. Notice I said, “identifying potential agents” because this is a preliminary step in the selection process.
3. After identifying potential agents, research how they market their listings. Pay close attention to how well an agent markets their listings online. Recent statistics show that over 80% of buyers preview properties online before getting in their car and driving to look at land or rural property. You will get an idea of how much effort an agent will put into advertising your listing or finding you the perfect rural property. Will your land be visible to potential buyers? It needs to be so that ALL possible buyers are aware that you have a quality piece of land for sale.
4. Ask a local real estate attorney. Contact a local real estate attorney in the area where you own land or rural property or wish to purchase land or rural property and ask them if they recommend an agent. These attorneys will know who closes deals and can help steer you in the right direction.
5. Interview several agents from multiple companies by phone or in-person if possible. Talking to someone over the phone or meeting them in person will help you get a better feel for someone than by merely emailing. I recommend having a list of questions prepared when you meet. The two most popular are always: “What is your commission?” and “What is my land worth?”. I would also recommend asking how they market land or what the process is to find the perfect rural property, what is the average time for the land to sell, what are the most recent comparable sales in the area, how has your business been lately, and is there anything I can do that will improve my chances of selling my land or finding the perfect rural property.
Once you have spoken to several agents and feel comfortable with one, ask them to take a look at your property or to show you rural property, with you if possible. You never want an agent to give you a specific figure of what your land is worth without them seeing it. They should be able to provide a fairly close price range of where you should list it, but each property is different and has characteristics that will distinguish them from other properties on the market. List your property with an agent that is not afraid to get out and walk the boundaries and trails on your land. An agent sitting in the car and pointing out features to prospective buyers seldom helps an owner sell their property.
6. Once you feel comfortable with the agent, sign the listing agreement. For rural land, these agreements typically run for a longer period of time than residential properties. Listing agreements may last 3 to 12 months.
7. Lastly, check them out on Facebook or other social media. It is amazing what information you can find about someone on their social media pages. Many employers are using this as part of their vetting process for job applicants. You might find that you share common interests with the agent or that you are not fond of what you see on their page. This gives you a closer look at their personal life which can be useful information for you.
I hope you find this information helpful as you look for an agent who can help you sell your land at the right price or buy a rural property, in a timely manner, and as smoothly as possible. By spending time researching and choosing the right agent on the front end, you can save yourself a lot of grief and disappointment in the long run.
The Rural KC Team, powered by Keller Williams Partners, Inc., is the number one team to help you buy or sell a rural property in Kansas or Missouri. Give us a call. 913-837-0760 or 913-837-0411 or go check out our website at Ruralkc.com.
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