You have finally made the decision to sell your farmland. Now, the next big question is how you should sell it. In most cases, landowners choose between two primary options: a traditional listing or an auction.
Listing Farmland the Traditional Way
Listing farmland is the most common and familiar approach. This method involves setting a list price based on what you believe the land may be worth and then waiting for a buyer to submit an offer.
However, that waiting period can vary widely. It may take days, weeks, months, or even years before an offer comes in. In addition, when an offer does arrive, it may fall below your asking price, leading to further negotiations or delays.
Using an Auction to Sell Farmland
Another option is selling your farmland through an auction. When people hear the word “auction,” they often feel uneasy simply because they are unfamiliar with how the process works.
With an auction, you do not set the price. Instead, you allow the market to determine the value through competitive bidding. To do this successfully, it is important to work with a reputable auction company.
Look for professionals who have earned the Certified Auctioneers Institute (CAI) designation. These auctioneers understand how to properly market farmland and expose it to the largest possible audience.
Today’s auctions are more competitive than ever. Advances in technology allow bidders to participate online from anywhere in the country while still creating strong in-person bidding environments. As a result, auctions often generate intense competition.
Ultimately, farmland is worth only what someone is willing to pay. An auction reveals that value clearly and provides a definite sale date—something a traditional listing cannot guarantee.
What Is Your Farm Worth?
If you are wondering what your farm may be worth, we can help. Our team offers a free farmland evaluation to give you a clear picture of current market value.
