What to Look For When Vetting a Land Broker
June 1, 2020So, you are thinking of engaging a ranch broker or farm broker to assist you with either buying or selling a property – what are some key considerations?
The agents at 18 Land Company, a land brokerage company, suggest your primary consideration should be someone who is knowledgeable about the type of property you are looking for. In other words, your ranch broker or farm broker should have working knowledge of farm and ranch operations, land sales, and financing. The day to day operations of farm and ranch land can be complicated. Water rights, leases, mineral rights, livestock, and machinery and the sale or purchase of these things require specialized knowledge. 18 Land Company has assembled a professional team to assist a buyer or seller with both land listing marketing, land sales, and land purchases.
Another primary consideration is local knowledge. It is important for your land brokerage company to know the community and local land base. Knowledge of water rights and uses, agricultural considerations, local climate, neighboring properties (including public lands), and local businesses is critical to a successful land sale or purchase of property.
From a seller’s perspective, ability to market your property is key. In the current real estate market, a web presence is critical in order to reach potential buyers who are having to prioritize their time and travel. 18 Land Company is using all available platforms to assure your property is marketed to all audiences through print, radio, and web. We invite you to look at our state-of-the-art website. Ranch marketing, farm marketing, and recreational property marketing is our specialty. We purposefully are focusing on those areas in order to provide the best service possible to our buying and selling clients. 18 Land Company is reaching a national audience with the variety of land listing marketing efforts we are employing.
Finally, a key factor to consider when vetting a land brokerage company is your agent’s availability and willingness to work with you. From a buyer’s perspective, you should feel comfortable that your land brokerage company is “beating the bushes” for properties that positively address your criteria. It is important for you to feel like you are a priority and that your real estate professional understands the sort of property that meets your desires. You should feel comfortable with asking questions, and comfortable your land brokerage company will do whatever research is necessary to find the answers to those questions for you!
As mentioned earlier, there are many moving parts to land sales and purchases. It’s imperative your Broker is with you through all parts of the transaction. During the due diligence period (a comprehensive appraisal of a property undertaken by a prospective buyer, especially to establish its assets and liabilities), things come up that many buyers do not understand or know the importance of. Your land brokerage company needs to have knowledge of and experience with these complexities and have the ability to explain them to you so you are comfortable making decisions along the way. People skills are paramount in land sales and transactions which can be emotional and complex. The team at 18 Land Company is professional and experienced with bringing buyers and sellers together to achieve positive outcomes.
If you have questions or would like to talk to one of us about vetting a land broker, we welcome you to contact Keith Handlos at keith@18landco.com or 406.925.1814
Here are some additional resources to help you through land transaction decisions:
How to Start a Successful Montana Ranching or Farming Operation
Navigating a Montana Land Sale: Do I need a broker or realtor?
Five Tips for Listing Your Farm or Ranch Property