Farmland real estate expert says leave all options on the table when selling land
An ag real estate expert says positive trends in the ag economy are making some producers become aggressive bidders at the auction block.
Randy Dickhut with Farmers National Company tells Brownfield if producers want more bang for their buck when selling land. “Know your land, know your land market, who the buyers are and know how to market it,” he says. “You don’t just put a for sale sign out there today you need to get it exposed through websites, listing sites, social media and stuff.”
Dickhut says higher commodity prices, a jump in farm income and an increase in government payments from last year contributes to farmers having more money to spend.
Dickhut says if a farmer is preparing to sell land, they should know the parcel’s type and quality. “Not everybody has that best farm in the neighborhood, but some do. Quality of the land: is it good crop land? Is it average crop land? That all has a bearing on how well it will sell and how you should sell it.”
Dickhut says parts of the Corn Belt differ on the best method for auctions. As an example, he said Iowa and Illinois have success with public auctions, while other areas do better with private auctions.