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TEXAS LAND / Roundup Issue<br />
window between the date an auction contract is signed and<br />
sale day often ranges from 30 to 60 days. Working within a<br />
seller-preapproved marketing budget, auction companies<br />
utilize traditional print and radio channels along with online<br />
advertising, direct mail marketing and one-on-one outreach to<br />
make sure there is enthusiasm about a property and energy and<br />
excitement with the broadest pool of potential buyers possible.<br />
Another important tool in a successful land auction is<br />
participation from area land brokers. Incorporating the client<br />
networks of multiple brokers throughout a region not only<br />
multiplies the reach of an auction’s marketing effort but also<br />
brings more interested, qualified bidders to an auction. For<br />
brokers, participating in auctions with their clients can provide<br />
another important tool in their client services portfolio. As a<br />
landowner looks for an auction company, it is important to<br />
find a firm that actively works to engage outside brokers and<br />
agents, and is willing to back that up with a competitive broker<br />
commission.<br />
Auctions put sellers back in the driver’s seat when putting a<br />
premium agricultural property on the market. Giving careful<br />
consideration to external factors such as hunting and growing<br />
seasons, commodity markets, economic factors, and even the<br />
weather, sellers work with their auction company to schedule<br />
a sale date and target closing date designed to maximize a<br />
property’s potential value and best suit the needs of the seller.<br />
As a landowner, this gives you the planning certainty to make<br />
future arrangements—no more waiting on the market to bring<br />
you reasonable offers.<br />
Sellers should also discuss their needs and goals when<br />
determining whether to conduct an absolute auction, giving<br />
buyers the guarantee that the property will sell, or an auction<br />
with reserve, which provides some protection for a seller but<br />
can detract from the excitement and enthusiasm inherent to<br />
an absolute auction. Most importantly, with an auction, there’s<br />
no more waiting weeks, months, or even years to receive a<br />
reasonable offer. You force the market to bring the offers to<br />
you! Bidders come to your auction prepared to buy, with no<br />
contingencies.<br />
commission is typically covered by a buyer’s premium added to<br />
the high bid price to arrive at a final sales contract price. Sellers<br />
can anticipate gross proceeds that are roughly equal to the high<br />
bid price on the property being sold.<br />
Whether simply looking for renewed energy on a property that<br />
has been listed for some time or seeking the planning certainty<br />
that comes from a definite sale and closing date, an auction is<br />
the smart choice to market and sell your property. But not all<br />
auction companies are created equal.<br />
Would you hire an appliance salesman to sell your home or<br />
a landscaper to remodel your kitchen? Why then would you<br />
consider using a real estate salesperson who specializes in<br />
marketing homes or commercial properties or an auction<br />
company who focuses on equipment auctions to sell your<br />
premium farm, ranch, or agribusiness? When the time comes to<br />
consider selling a premium farm or ranch property, it’s critical to<br />
find a broker and auction company with experience in farm and<br />
ranch land. An agent or broker with expertise in selling luxury<br />
resorts or commercial properties may not have the experience<br />
to showcase your unique farm or ranch land. The approach to<br />
marketing premier agricultural properties should be as unique<br />
as the land itself. And if you’re looking for a premium result,<br />
why trust anything less than a premium marketing effort by an<br />
auction company with hands-on agricultural experience?<br />
Focused on people, partnerships, and results, Legacy<br />
Land Auctions is committed to being the leading<br />
provider of marketing solutions for premier<br />
agricultural properties. Contact us today to<br />
find out why an auction may be the perfect<br />
choice for selling your property!<br />
www.LegacyLandAuctions.com<br />
To eliminate the out-of-pocket<br />
expenses for a seller, in many<br />
auction circumstances, buyers<br />
are responsible for the bulk<br />
of the property closing<br />
costs, including title policy<br />
expenses and necessary<br />
surveying. And the auction<br />
LANDMAGAZINES.COM<br />
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