Top 50 Questions about Farmland
At Whitaker Marketing Group, we provide a wide range of auction formats tailored to meet the needs of both sellers and buyers. Each method is designed to increase engagement and produce the strongest results for your property. Additionally, offering multiple formats ensures every farm and every seller has the right strategy.
1. Live Outcry Auctions
This is the traditional auction format where the auctioneer conducts bidding in real time.
Bidders participate in person, and the auction continues until no one offers a higher bid.
2. Sealed Bid Auctions
In this method, bidders submit confidential bids by a specific deadline.
After the deadline, the team reviews all bids at once to maintain fairness and transparency.
3. Hybrid/Simulcast Auctions
These auctions combine live and online participation.
Because bidders can join in person or through the internet, this format expands your reach to both local and remote buyers.
4. Virtual Auctions
A virtual auction operates like a live outcry event but occurs entirely online.
Participants bid from anywhere through an online platform, making the process convenient while still preserving the excitement of live competition.
5. Timed Online-Only Auctions
This format does not use a live auctioneer. Instead, bidding occurs over a set timeframe and ends with a countdown timer.
Soft Close Feature: When someone bids during the final two minutes, the timer automatically resets for another five minutes, encouraging competitive bidding.
6. Phone Auctions
Phone auctions work well for buyers who cannot attend in person or choose not to bid online.
A representative places bids on behalf of the buyer, ensuring they can participate without technological barriers.
7. Multi-Parcel Auctions
This method works especially well for large properties divided into multiple tracts.
Bidders can compete on individual tracts, combinations, or the entire property, which often increases demand and boosts the final price.
Why Offer Different Auction Types?
Different auction types allow us to:
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Maximize bidder participation through flexible options.
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Match the ideal format to the unique features of the property and the seller’s goals.
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Encourage competitive bidding and ultimately achieve the best possible price.
Key Takeaways
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Auction formats include traditional live outcry, online, hybrid, and multi-parcel methods.
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Timed online auctions use a soft close to stimulate stronger competition.
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Tailored auction strategies help sellers reach the widest audience and secure top-dollar results.
For expert advice and to choose the best auction type for your property, contact David Whitaker – Iowa Land Guy today!
David Whitaker | Iowa Land Guy
