A Place in the Country by Bill Ziercher

A Place in the Country

BY BILL ZIERCHER

Bill is a Charter Member of the American Tree Farm System and his timber property is ATFS certified. He is a lifetime member of Quail Forever and the National Rifle Association.

Checklist for Sellers of Rural Property

f you or someone you know

Ihas rural property that you or they are thinking about selling now or in the near future, there are considerations to keep in mind about selling. Experience shows that 80% or more who sell experience “seller’s remorse.” They waited too long, mostly just from procrastinating. Keep in mind is that while land values go up, “improvements”, meaning a home, barn, cabin or other structure on the property depreciate over time. We tell owners that the time to start the process of selling their property is often when they first start to think about doing so, especially for older owners. That is before big investments are needed to prepare it for sale. The longer they keep the property, the less they use it and the more they wish they had sold earlier.

KEY QUESTIONS PREPARING FOR A SALE

Here are questions to organize thoughts to help begin the process for selling. These are beneficial to share with whoever you might be working with to sell. If not right now, then you might want to cut this page out and put it with your farm or property papers. 1. The first question is: Have you made the emotional decision to sell? That is, can you see yourself no longer owning the property? What change in circumstances would make you more ready to sell? 2. What are the best features of your property - list all that come to mind. Then circle top 5 features and rank order with 1 being the most important; feel free to elaborate about each. 3. What attractions are near your property, and why are they appealing? 4. Besides you or the principal owner, who else should be involved in decisions about a sale? 5. Have you listed the property before, and have there been any offers? 6. Is there income from the property – crops, timber, grazing, hunting or other recreation, leases? 7. How much are you wanting to walk away with (net)? 8. What is the most desired timing for a sale? 9. Would you need/want to buy another property or complete a 1031 tax-deferred transaction? 10. Why would you be selling? Is the reason confidential, or OK to share with a prospective buyer? There are a lot more details, but this can help to get the juices flowing. Items You Will Need for the Sale Checklist of items you will need to begin the sale process: n Copy of survey if available n Extra set of keys n Tax records n School district information n Utility information n Any association fees, restrictions, etc.

HOW MOST RURAL PROPERTY IS ACTUALLY SOLD

The National Association of Realtors says over 95% of buyers find their properties listed on the Internet. But an Internet sale requires a strong presence on the few truly dominant rural property websites. There are hundreds of lesser sites, including brokers’ sites that just don’t move the dial. The 4 leading sites outperform others by a huge factor. A seller should work with a broker with knowledge and experience to assure your property comes up to the top of digital searches. The professional you work with needs the digital techniques that drive that 95% of sales. This should be a broker who is passionate about your property type and has working knowledge on those sites to give your property preferred treatment in the listings. Also the agent should be someone can trust, is personable and has a lot of experience in closing complicated transactions.

BILL ZIERCHER is the founder of Select Properties Real Estate. He has been active in building, buying, selling, and managing rural real estate and income property for over 30 years. His company’s 10-step marketing process offers unmatched exposure for the rural real estate market. For a free consultation or to find out how much your property is really worth, you can contact Bill at 314-412-3966. And for copies of previous “A Place in the Country” Articles you can email him at ziercher59@gmail.com.