Selling Your Farm or Ranch by Auction, Part Two:
Finding the Best Fit for Your Property
By Tanner Hewitt
In an ever-changing marketplace, it is difficult to know the best method of listing a property. This decision is crucial when striving to meet the seller’s goals. Often times there is a certain approach that best fits each individual listing.
One mainstream approach is ‘Sale by Private Treaty’, a tried and true method to selling real estate. Listing a property for sale by private treaty involves signing with a real estate brokerage that will place the listing on the open market. This has by far been the primary listing type that Hewitt Land Company has used since its origination in 1999. A private listing gives the seller and broker the chance to personally evaluate the property, put together a marketing strategy that fits, and actively seek potential buyers. This is a relatively low risk option for the seller to put their property on the market with the confidence that they are in the driver’s seat when potential buyers come to the table.
Selling property by way of auction is the most evolving approach. Opportunities are endless when selling a multitude of commodities at auction. This has been happening for centuries, and this method is a great option when striving to meet the needs of both buyer and seller alike.
Technology has raised the bar in the auction industry. Not only are Online Live Auctions very popular, but also Online Only Auctions. Online Auctions provide the Buyer the ability to bid on and buy products from around the world, and at the same time provide the Seller many more opportunities to ensure that their product brings true market value. No longer are the days that auction property is only exposed to those present. Advertising campaigns and the ability to broadcast auctions around the world have significantly evolved in a positive way. With all the advancements, auctions remain a true source of price discovery for each client. Not every property lends itself to being the perfect auction candidate, but when handled in the correct manner, an auction can sometimes reach potential you hadn’t thought possible.
The team at Hewitt Land Company looks at each and every property on an individual basis. We take pride in our customer service and communication with each client to ensure the best method of sale. Together, we decide if the property is better suited as a Private or Auction Listing. It is imperative for us to offer customers the most beneficial option and provide a platform for success.
This article follows the first article in this series, “Why Choose an Auction,” by J.D. Hewitt. View this post to catch up with this series.