Placing your farmland for sale is a big decision. Just as important as your decision to sell is how you choose to sell. Selling farm real estate can happen one of two ways: through a farmland auction and through traditional listing with a real estate agent.
For places experiencing an increase in population, farm property for sale is a hot commodity. Montana, for example, is estimated to increase by 14% by 2043. With these growing numbers, buyers and sellers alike have many questions on farmland auctions and traditional listings.
While the employment of farmers, ranchers and other workers within the agricultural industry are expected to see a 2% decrease by 2024, farming land for sale is still trending. Opposite of what many may think, farm properties for sale in auctions sell just as well as traditionally listings, sometimes selling for more than market value. Not to take away from traditional listings. Agents have the resources to connect buyers with sellers and make some of the biggest deals. A real estate agent could very well be the mind behind Ted Turner’s $20 million purchase of the Flying D Ranch in 1988.
Now that you know the difference between auctions and traditional listings, you are on one step closer to selling your farmland and a fresh beginning.