If you are planning to sell your ranch, there are several things you should know before selling. First and foremost, you should find the right land real estate agent to sell your ranch. The key to a successful ranch sale lies with an agent you can count on. They should be honest, hard-working, and have an understanding of the complexities the lie within a land transaction.
Because the first step to selling a ranch is finding a qualified land real estate agent, you should interview potential agents, and ensure you are hiring the right person to represent your unique property. Remember that you might find an ultra-qualified agent, but he/she might not be the right fit. Ask tough questions, take notes, do your research, and then follow up.
Here are nine questions to finding the right real estate agent to sell your ranch:
1. How Many Years of Experience Do You Have?
First and foremost, you need a land real estate specialist who has plenty of knowledge and experience. When it comes to ranch sales, every property is unique. With a complicated list of easements, rights, land types, and more, you require a land agent who has been around for a while. Why? Because more experience means fewer surprises, which is exactly what you want when selling your ranch.
However, even a relatively new agent can surprise you. Sometimes the drive and passion in an agent is worth far more than his counter-part who’s been in the field for 40 years. That is to say that the main goal is to find an agent who understands land. Land real estate is significantly different than residential or commercial real estate. You want to put your best foot forward to get your property sold.
2. Are You Familiar with My Area?
Even if your land real estate agent has more than a decade of experience, it is crucial that they have worked in the area where your ranch is located. Every region has its own set of laws and history. In fact, having a local connection will help you sell your ranch faster.
Hence, if the real estate agent you have in mind knows your area and has local connections, you will already have a foot in the door on finding a buyer.
3. What’s Your Favorite Part of Being a Land Real Estate Specialist?
Alongside asking questions about their profession, you should also get to know your potential agent. Ask them what their favorite part of being a real estate agent for ranches is. Does their answer align with your goals? Does it match up with how you feel about your property?
Essentially, you should choose an agent who is excited about their job and your property.
4. What Other Services Do You Offer Alongside Selling a Ranch?
This question will help you filter out a proficient and knowledgeable real estate agent from an amateur. A great agent will not only help you sell your ranch successfully, but also work with you to create a marketing plan, help you through closing, and provide you with resources moving forward for making your new endeavor successful.
5. Can You Provide Any References?
A qualified real estate agent, Realtor®, or land broker should be able to give you a list of references. With the references in hand, you can follow up by reaching out to previous sellers. Ask about their experience with the potential broker. Were they satisfied? If not, what was the reason? Again, ask the tough questions.
6. What are Your Outdoor Hobbies?
Now, you might find this question a bit awkward. However, it is essential that you choose an agent who lives a lifestyle that aligns with your ranch.
For instance, if you own a hunting ranch, then you should basically look at working with a land agent who understands hunting. This is especially important if you are selling an income-producing ranch.
7. Have You Lived on a Ranch?
A ranch agent who has lived on a ranch is a real bonus. Such agents will truly understand what it feels like living on a ranch and what it takes to buy, sell, and work a ranch. They will have an entirely different perspective to offer potential buyers, which is a win-win for you.
8. Give an Example where You had to Overcome a Sales Challenge
Be honest with your agent and ask them about a particularly difficult sale in their line of work. Ask them to go into details about the sale. Have them talk about any innovative plans they used to overcome the challenge.
Ensure that you pay close attention to how the real estate agent answers this question. If they claim all the projects they handled were a breeze, it is a red flag. Perhaps, they don’t have a lot of experience, or maybe they are hesitant to give bad news.
You should work with a land specialist who can tell it to you straight, even when the news isn’t quite happy.
9. How Much do You Charge?
Understanding the fee breakdown before you sign with a real estate agent will help avoid unwanted financial surprises down the line. After you receive a formal fee breakdown, you may want to circle up with your accountant to ensure your financial goals are all aligned.
In summary, going back to the beginning of the article, you need a real estate agent that is honest, understands land and land transactions, and has the drive and passion to get your property sold. Don’t hesitate to ask the tough questions, do not settle on just anyone, and trust your instincts. You’ll know when you’ve found your agent. Using these 9 questions for finding the right real estate agent to sell your ranch should get you a long way in finding the perfect land specialist to get the job done.
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