Selling or buying a farm can be a very emotional experience, and in some cases, it may be a once in a lifetime experience. We like to personally meet with you to discuss and better understand your sale and/or purchase objectives. Is the farm in trust, and are there multiple family members named as beneficiaries? Maybe all beneficiaries do not want to sell. As a disinterested third party, we can meet with each of the owners, or the entire family, to offer our professional thoughts on how a sale can take place for the best interests of all concerned.
Perhaps you want to sell some real estate and purchase a farm, but do not want to pay any capital gains taxes. We have assisted many clients with a 1031 tax deferred exchange and can explain its details, and if necessary, recommend real estate attorneys who can be of valuable assistance regarding the legal details.
All of our real estate brokers have many years of experience in the farm real estate market to assist clients in utilizing the best method to sell their farm. We are very knowledgeable of the many factors that should be considered and are included when we prepare and present to you a Market Analysis and Listing Proposal that realistically helps set a suggested selling price range, or purchase price.
When consideration is being given to listing your farm, and you contact Land Pro LLC, we prepare a comprehensive written Market Analysis and Listing Proposal (not an appraisal) at no cost to you, which may include:
- Domestic and global factors affecting the economy and the farmland value market.
- The farm’s soils, including Productivity Index (PI) derived from Bulletin 811 and the Surety Soils Map and Table, and how this information impacts your farm’s value.
- Drainage will be thoroughly discussed based on aerial photos and a site inspection. Drainage and soil productivity are the leading factors that determine value and market demand for your farm.
- A brief discussion of the real estate taxes, which are public record. Taxes are now closely correlated to the assessed value based on the Productivity Index.
- If there are buildings on the farm, their condition and utilization will be factored into the value. Will a prospective buyer discount the property based on the buildings condition?
- An analysis is made with the pros and cons of selling by auction, sealed bid, or private treaty. We recommend which method may best fit the sale of your farm based on the location of the farm, your timing in which a sale must take place, and farm quality.
- Comprehensive comparable sale information of sold farms in the area, plotted on an aerial map with reference to your farm.
- A listing price range is recommended based on our market knowledge and the above data.
- A listing proposal is included with a sample Exclusive Listing Agreement.
Land Pro takes great pride in our high quality marketing process, which may include a postcard mailing to prospective farmland buyers from our mailing list and surrounding landowners. A highly informative information booklet is prepared and made available from the Land Pro website as well as other subscription websites. The farm is posted to Facebook, Twitter, Instagram, and Linkedln. Weekly ad insertions are placed in Illinois AgriNews and Farm Week, and may also be placed in regional newspapers. We make personal calls to investors, credit sources, and neighboring landowners.
Land Pro's goal is to help you make this process an enjoyable experience, with timely communications to you from the day a listing agreement is signed through the day of closing.
From 2013 through March 2021, Land Pro LLC was involved in the sale of farmland, in thirty one Illinois counties, totaling $252,360,528 as either the listing broker, selling broker, or buyer broker.
Please contact Land Pro LLC, the Professional Land Specialists, to help guide you through the process of buying and/or selling your property.