Real Estate Marketing Proposal
293.26 Acres +/- Fayette County, Iowa
Presented to: Sliter Family
Presented by: Jay Brower/ David Whitaker Whitaker Marketing Group
Presented to: Sliter Family
Presented by: Jay Brower/ David Whitaker Whitaker Marketing Group
Tuesday, August 15, 2023
Thank you for the opportunity to introduce you to our company,”Whitaker Marketing Group” as a potential partner that will provide valuable assistance with your upcoming real estate transaction. I've included a detailed real estate proposal that breaks down everything about the property you're interested in selling. I hope you find this information useful and informative.
As you're thinking about selling, the marketing plan we've put together aims to bring together interested buyers in a competitive bidding scenario, all competing to purchase this amazing property. Drawing from our experience in auctions, current market conditions, and the unique features of the property, the Whitaker Marketing Group believes that the property could potentially fetch a significant value at auction. We're not in charge of setting the price, but rather our goal is to create a robust marketing strategy that reaches all potential buyers and stimulates a competitive environment, ensuring the best possible outcome for you as the seller.
Throughout this process, the Whitaker Marketing Group is committed to delivering exceptional service, maintaining honesty, and ensuring transparency. Our aim is to organize a well-structured and successful auction. In all our interactions, we prioritize professionalism to represent sellers in the best way possible. We're confident that an auction is a suitable approach for this property and we're here to support you in any way we can. If you have any questions about the proposal, please feel free to reach out.
The proposal gives you a glimpse into the dedication we bring, both leading up to the auction and in making sure it's a success. We strongly believe in getting the best possible sale price for your assets. No other company is as invested in achieving this goal as we are.
Respectfully submitted,
Jay Brower
Broker Associate
Phone: (641) 580-4070
Email: Jay@wmgauction.com
David Whitaker
Broker / Champion Auctioneer
Phone: (515) 460-8585
Email: David@wmgauction.com
Ann Whitaker
Owner/ Real Estate Agent
Phone: (515) -460 - 0255
Ann@wmgauction.com
Note: The information and material provided in this proposal is proprietary to Whitaker Marketing Group and is to be used exclusively for the consideration of the intended recipients only. All materials herein are confidential and are not to be reproduced or shared with anyone other than the designated recipients unless written permission is granted by Whitaker Marketing Group.
No word rivals the power to instantly produce serious competition between individual buyers with money in hand!!
Your farm in Fayette County, Iowa is comprised of 293.26 +/- acres.
We believe an auction is the most effective means of sale.
Auction Type: Live Auction / Webcast online bidding/ Pre-bidding/ Phone bidding
Sale Platform: Auction-selling to the highest bidder
Auction Procedure: The property will be offered in 4 tracts. Utilizing the true price discovery method at auction, which will create the most exciting and competitive bidding on your farmland. The successful bidder shall sign a purchase agreement, prepared by the seller, immediately after the close of the sale. The contract price will be the bidding acres as indicated on the individual tract purchased times the price bid per acre. The balance shall be paid in the form of certified funds upon closing. A Warranty Deed will convey the title. Updated abstract will be provided to the buyer at the seller's expense. "The seller reserves the right to reject any and all bids."
Deposit: Earnest money of 10% of the contract sales price as a good faith down payment on the day of the auction with the balance in certified funds at closing. Earnest money paid the day of the sale will be deposited in a Closing Attorney’s Trust Account the following business day.
Closing: Real estate closing shall take place on or before 45 days from the auction date.
Planting Privileges: The 2024 planting privileges will be assumed to new buyer’(s) if termination has been served.
Real Estate Taxes: All 2022/23 Ad valorem real estate taxes will be pro-rated between the buyer and seller to the day of closing.
Survey: A survey will be completed if needed (We do not see a need for a survey at this time)
No Sale: You will have the right to accept or reject the sale price on your farm. You can also decide to not sell the farm and we would require a reimbursement of our advertising fee, unless you let us continue with a private treaty listing for six months following to maximize the opportunity to market the land directly with any potential buyers.
Farmland Listing
This is a traditional listing where we set an agreed upon price and market your farm to the public.
Pocket Listing
This is a traditional listing where we set an agreed upon price and market it to our buyers/ investors/ and or select buyer. (Not the general public)
Traditional Live Auctions:
This is what most people think of when they hear the word “auction”. A standard live auction is held in-person and is conducted by an auctioneer calling the bid live in the normal chant fashion. (We also allow for phone or absentee bidding)
Simulcast Auctions:
This auction type is a hybrid of both live and online auctions. The auction itself has a live crowd that is bidding but it is being streamed to an online audience that can also bid.
Online Timed Auctions:
This style of auction is done completely online. It is essentially run like eBay where there is a set time that the auction ends, and auction registrants have until that closing time to bid and win the items. Unlike eBay though, we use a soft close process. This allows bidding to keep going as long as bids are still being entered. This ensures the item goes to the highest bidder, not just the last bidder- which is of huge benefit to our sellers.
Online Virtual Auctions:
This auction is formatted to be completely virtual but happening in real time. There is no in-person crowd, but the auctioneer is doing a live outcry and bid calling via webcast to an audience watching and bidding online.
For Sale by Bid Auctions:
In this auction approach, bidders will submit a written bid to the agent by a deadline. The written bids can be accepted as is by the seller or the seller and agent can negotiate with the bidders. As another option, selected bidders can be invited to an open bidding session.
Phone Bidding Auctions:
For phone bidding, the agent will conduct bidding by calling each individual interested bidder one at a time to advance bids until an acceptable price is achieved for the seller.
Multi Parcel Auctions:
A Multi-Parcel Auction is an auction where the property can be sold either as a whole, in tracts, or a combination of tracts. This type of auction benefits both the buyer and the seller. They can sell large acreages all at one time without needing just one buyer. The saying goes, “The whole is greater than the sum of its parts”
We have all seen a significant rise in farmland prices over the last couple years. The market is currently holding steady. Overall, there is talk of opportunity in the market for the future.Age, industry, geography, cash, 1031, and banking/USDAall play a part in the current buyer’s decision-making process. The market is staying stable due to local buying power variability. 82% of farms in Iowa are owned free and clear. There is a lot of equity, and cash in the outliers that will keep the price of land strong.All buyers have one thing in common. They all have an interest in land ownership, and they all want to buy more. Interest rates are on the incline, but good farms are still selling well. Stock market prices are moving investors to the land market, utilizing 1031 buyers and the supply is low! We know many buyers in Fayette County would compete to gain you the most successful outcome.
High = 75 or < CSR
Medium = 50-75 CSR
Low = 50 or > CSR
Proposed Auction Date
• November of 2023 or date agreed upon by all parties.
Budget/Expenses
Professional Fee:
• Commission Option 1: 1.85% on purchase price, payable from proceeds at closing by seller
Marketing Budget:
• Included: (Paid by Auction Company)
• Full color heavyweight 8.5”x11” high gloss brochure w/ UV coating
• Direct Mail – To real estate buyers, brokers, lenders, and adjoining landowners
• Drone Flyover and Video
• Newspaper/Print Media:
• Local print media papers as well as shoppers
• Email Distribution – To our exclusive lists
• Social media Targeted Campaign, Google/ Facebook targeted ads.
• Internet and Social Media Marketing
• RLI MLS
• Land Watch.com
• Lands of America.com
• Land and Farm.com
• Loopnet.com (commercial & development land website)
• Crexi (commercial & development land website)
• WmgAuction.com
• www.Iowaauctions.com
• Linked-In, Facebook, Twitter, Instagram Followers
• Signage – Poly vinyl signage on property and informational/way-finding signs
With an unblemished understanding of the necessary markets, we have put together a plan that makes the most effective use of our powerful sales and promotional tools. Our ability to promote your assets is unique and unmatched in the industry. We will reach well capitalized national, regional and local investors/ buyers who are seeking an opportunity to acquire these real and personal property assets.
This unique auction will be advertised on all industry leading websites proven to effectively showcase auction assets to buyers specifically seeking these assets.
Auction assets will be offered using the world wide web simultaneously with live bidding. Auction will be marketed directly to unique buyers specifically seeking your exact assets.
High gloss full color professional brochures will be printed and distributed to potential buyers. Mailing lists will be purchased for this purpose to target specific customers including similar property owners, and local property owners. We will print 11"x17" full color brochures and direct mail to a very targeted group of potential buyers. We mail to our proprietary in-house database along with mail lists that pinpoint our most likely buyers for your property. The design is produced by our graphic design department to show the highlights of the property and the surrounding area. Our intent is to give potential buyers just enough information in the brochure to build a desire to learn more and prompt a call to our office. At this point, our project team starts building rapport with potential buyers and discovers their wants, needs and/ or desires.
Our marketing department will create a campaign specifically for your auction targeting potential buyers through Facebook, YouTube and other social media avenues.
We will order top of the line printed signage specifically for your auction.
Becauseofouradvertisingvolume,wehavesecuredsomeofthelowestcontract discountratesforlocalandregionalnewspapers.Wewillworkwithourauction marketingcompany,todesigncamera-readydisplayadsandplacethemin conjunctionwithclassifiedlineadsinlocalandregionalpublications.
Wewillshootahighdefinitionaerialvideoofyourfarmtopromoteto potentialbuyersandinvestors.
• Morethan500millionhoursofvideosarewatchedonYouTube eachday.
• 82%ofTwitteruserswatchvideocontentonTwitter
• YouTubehasoverabillionusers,almostone-thirdoftotal internetusers.
• 45%ofpeoplewatchmorethananhourofFacebookorYouTube videosaweek.
Wewillalsopostyourauctiononahostof thenation’slargestonlineaglandrealestateportals, aswellasseveraladditionalinternetauctionportals.
Ourcompanyemploysateamofprofessionalsdedicatedto oursocialmediaeffortstoengagebuyers.Yourauction willbefeaturedonallofoursocialmediasitesforour 100,000+impressionstoengageandlearnmore.
https://www.ryangeorge.net/
Whitaker Marketing Group cooperates/works in conjunction with all local and national brokerages (meaning they would have an opportunity to sell the property).
Whitaker Marketing Group land agents are members of the Realtors Land Institute. All our land listings and auctions are posted on the Realtors Land Institute Multiple Listing Service. This is a website exclusively for land brokers throughout the nation.
Whitaker Marketing Group is a member of the National Association of Realtors. All our listings and auctions are posted on the multiple listing services exposing the property to thousands of real estate agents through the Midwest and their clients, as well as REALTOR.com
Whitaker Marketing Group is a member of the National Auctioneers Association as well as the Iowa Auctioneers Association which allows us to post our land listings and auctions on the national auction website, allowing all other auctioneers to bring a buyer to the table.
Whitaker Marketing Group is a member of commercial multiple online services such as LoopNet and Costar. This allows us to post our land listings and auctions on the commercial Multiple Listing Services further exposing our listings to the sophisticated real estate professionals throughout the country and their clients.
Whitaker Marketing Group is a member of commercial multiple online services such as Crexi. Crexi simplifies and optimizes commercial real estate to create an accessible, empowering industry for all. Find a property that's perfect for your needs.
Our highly organized team works in collaboration with one another on each aspect of the sale to ensure a comprehensive marketing approach and smooth closing process.
Team Members:
Listing Agent –David/Jay will be the listing agent. Ann will serve as the primary point of contact and also handle negotiations, showings, etc
Project Manager – Amber Franks will quarterback of all operations. David will coordinate and oversee the various marketing, scheduling, and closing activities to ensure an effective and efficient sale.
Graphic Design – Brian Tucker will design and supervise all print and digital advertising.
Drone Pilot – David is a licensed and insured FAA drone pilot. He will ensure professional grade aerial photography and work with the graphic designer to ensure the ultimate aerial experience for buyers.
Auctioneer – David is the Chairman of the board of the Iowa Auctioneers Association and is the only Certified Auction Institute Graduate that is also an Accredited Land Consultant.
Closing – Ann, will work with you and your attorney or suggest an attorney to assist you with the survey, Abstracting, deed prep, Ground water hazard, Declaration of value, Taxes, 1031 exchange, Recording, Revenue stamps, Hud-1, Government contracts, and Disclosures. She follows your transaction through the entire process.
Network – We have formed impactful relationships with agricultural experts in every facet of the industry. Below is just an example of some of the expert resources our team will consult with on your project.
Tanner Winterhof – Ag Lender
Noah Wendt – Crop insurance advisor
Kevin Brooks – Farmland manager
Jim Rothermitch – Farmland Appraiser
Bidders can bid from anywhere in the world from their phone. Our bidding software Mobile Friendly and does not require the bidder to download an app.
67% of our auctions are bid on from a mobile device.
Weworktomakesureifanyoneissearchingforfarmlandtheyfindyourfarmland!
The following action is taken on marketing a property:
Weeks One and Two
• Sign Auction or Listing Agreement
• Secure Auction Location (if auction)
• Gather and Assemble All Pertinent Information
• Order Preliminary Title Commitment
• Finalize Parceling Plan
• Order All Signs
• Finalize Brochure
• Newspaper Ads Ordered
• Assemble Auction Team
• Brochure Mailed to Investors
• Brochure Appears on Website
• Signs are Placed on Property
• Brochures Posted at Area Businesses
• Postcards Mailed
• Update Seller on Progress
Week Three
• Personal Contact with Area Landowners Completed
• Drone Video
• First Newspaper Ads Run
• Showing/Informational Meeting
• Follow-up Calls to Lenders
• Update Seller on Progress
Weeks Four and Five
• Final Newspaper Ads Run
• Second Showing/Informational Meeting
• Additional Showings
• Follow-up Contacts with Interested Parties
Auction Day
• Final Seller Update
• Auction Site Setup
• Bidder Registration
• Conduct Live Auction
• Execution of Contracts
• Collect Earnest Money
Following Auction
• Deposit Earnest Money
• Executed Contracts Delivered to All Parties
• Coordinate Any Survey Work Necessary
• Orchestrate Title Work Amongst All Parties to Ensure a Timely Closing: Seller, Buyer, Lender, and Title Company
• Closing and Disbursement of Proceeds, Usually 30-45 days after the Auction
We have local personnel near the subject property that are familiar with the area and local market conditions. In addition, we have a network of agricultural real estate sales agents across Iowa with buyers and sellers that can bring additional buyers to the market.
Our staff monitors all requests for information and all known prospects. Follow-up marketing is undertaken with each inquiry to determine the level of interest, answer questions, and encourage offer participation. We consider the trust and rapport with potential buyers developed during the marketing period to be one of the most valuable assets when negotiating a private treaty sale with respect to translating market demand into dollars for the seller.
Throughout the listing period, we report regularly to you regarding the level of response and our interpretation of the level of interest in the property, as well as the general progress of our promotional effort.
We personally visit landowners, area businesses, and lenders in the local community during the marketing process. We attempt to contact every potential buyer personally to provide information, assistance, and guidance where needed.
We advise you of all activity regarding the sales efforts. Advertising plans, buyer inquiries, showings, and contracts written are presented for your information and approval. A team of real estate professionals will work together to market the property.
We believe that the commission or marketing fee is an investment by the seller that should be carefully considered. There can be a tremendous difference in the final net selling price achieved in the selling of property based upon the work completed by the sales team during the marketing period. One or two extra contacts, one extra out-of-state buyer interested in the property, a champion auctioneer that is trained to read the crowd, or easier access to information on a website can make thousands of dollars difference in the final selling price. The choice of utilizing the services of the team best positioned to provide these premier services can be a profitable investment.
Whitaker Marketing Group offers you its full services for marketing your farm at the following commission based on the gross sales price of the land. (See below)
• Commission Option 1: 1.85% on purchase price, payable from proceeds at closing by seller
When Whitaker Marketing Group sells the farm, then we will waive all costs associated with the marketing/advertising of the property.
Whitaker Marketing Group’s website gets visitors from the entire country and beyond. Our industry-Leading website includes downloadable FSA maps, Soil maps, Plat maps, aerial photography, drone videos of each farm, interactive site map, and links to all farms that are for sale in Iowa.
Farmland Finder is the leading digital platform for farmland data and analytics, they are an Iowa based company that is touted as the “Zillow of Farmland” The Farmland Finder site is used by tens of thousands of farmland owners, buyers and renters across the U.S. to understand what is for sale and the current value of their land.
Whitaker Marketing Group has a strategic partnership with Farmland Finder. We are the first brokerage/ auction company to have our listings displayed on their site. We also have access to the most comprehensive comps and market data across the Midwest.
Whitaker Marketing Group and Farmland Finder’s partnership provides a robust technology platform for the agricultural land market. With Farmland Finder, our current and prospective clients will have more information, data, and understanding than ever before.
The AcreTrader site is used by tens of thousands of farmland Investors, buyers and renters across the world to buy and invest in farmland.
Whitaker Marketing Group has a strategic partnership with AcreTrader. We also have access to their investors, and we bring them to your farmland if it is the right fit.
Using our combined experience in finance, tech, and agriculture, we created the first easy way to invest directly in quality farmland and support the business of farming.
Whitaker Marketing Group tracks and records every auction and sale in the state of Iowa. This allows our team to arm themselves with the most up-to-date information on land values and trends in every part of the state.
Our Team utilizes this information to keep our clients informed about the value of their land based on the most recent sales in their area.
Among America’s best brokerages: Whitaker Marketing Group has been named a “Top Brokerage in America” and a “Top 30 Auction House” by the Land Report, an industry-leading publication targeted toward the American landowner.
Whitaker Marketing Group is associated with Farm Market ID/ DTN. This partnership allows us to know all of the farm operators that are near your farmland. We are able to target our marketing to the most likely buyers on your farmland.
Whitaker Marketing Group is associated with the Iowa bankers Assn, and the Iowa Bar Assn. This allows us to make sure that the influencers in your neighborhood are aware of your auction and they in turn tell others.
Whitaker Marketing Group works to keep a list of every landowner in the state. We utilize this list to market your farm to other landowners. People who own land often buy more.
• CompleteallcontractsandpaperworkprovidedbyWhitakerMarketingGroup
• Provideaccesstotheproperty
• Maintainbuilding,utilities,andpropertyinsuranceuntilclosing(IfApplicable)
• Providemarketabletitletotheproperty,freeofallliensandencumbrances
• Selleragreestocureanydefectsinthetitleandpayallexpensestodothesame
• Signrealestatedisclosurestatement
• Allowfordronevideoofproperty
• SignanFSAfarmreleasereview
• Prepare,print,anddistributepromotionalmaterials
• Establishon-sitemarketingsignage
• Distributeprintedbrochurestolocalarea
• Placeadvertising
• Arrangeauctionsetupandpreparation
• Provideallauctionequipment(soundequipment,clerking/cashieringsoftware,personnel,food/ concessionsvendor,restrooms,etc.)
• Toqualifyandregisterbiddersfortheauction
• Conductsalepreviewpriortotheauction
• Providecontractsforrealestateonthedayoftheauction
• Coordinateconcessionsandportablerestroomfacilities
• Providecompetentandprofessionalstaffforpre-auction,dutiesanddayofauction
• Establishrulesforsafeenvironment
• Providecustomerservice,collectauctionpayment/paymentsfromallbuyer/buyers
• Cleanuptheauctionsiteafterthesale
• Aideandassistintheclosingprocess:seeingthatallaspectsofthesalearecompletedinatimelyfashion andtheclosingtakesplacewithintheallottedpurchaseagreementterms.
• Sue&BrianEldridge(FamilyFarm) 203S.BooneSt. Boone,IA50036
515-298-1819
• KevinDay(OutofStateSeller)13564NashRoad Dewitt,VA23840
804-892-8517
• LisaMcConeghey(MultiParcelAuction) 3118AveEast Newton,IA50208 641-840-0197
• JeffLamberti(RealEstateAttorney) 210 NE Delaware Ave # 200, Ankeny, IA 50021
515-964-8777
• KevinBrooks(AgLender) 1530 S Duff Ave # 1 Ames, IA 50010
515-681-6299
2022 International Auctioneer Finalist (Top 3)
2022 Battle of the Bluegrass Champion Auctioneer
2021 International Auctioneer Finalist (Top 5)
2020 USA Today Gold Award (Auction Campaign)
2019 1st Place IAA Advertising Contest-Real Estate
2019 1st Place IAA Advertising Contest-Business Promotion
2018 International Auctioneer Finalist (Top 10)
2018 Rose Award (Best Business Plan)
2018 Minnesota State Champion Auctioneer
2017 US Bid Calling 1st Runner Up Champion
2016 US Bid Calling 1st Runner Up Champion
2016 Canadian International Western Champion
2015 US Bid Calling 1st Runner Up Champion
2015 Midwest Auctioneers Roundup 1st Runner Up
2015 Mule Day Champion Auctioneer
2014 International Auctioneer Finalist (Top 10)
2014 World Livestock Auctioneer Spokesman (Interview Top Score)2014 Nebraska State Champion Auctioneer 2014 Mule Day Reserve Champion Auctioneer
2014 World Livestock Auctioneer Champion Qualifier (Top 10)
2013 Nebraska Champion Ringman
2013 Nebraska Reserve Champion Auctioneer
2012 Missouri State Champion Auctioneer
2012 International Rookie Auctioneer Champion
2012 Finalist International Auctioneers Championship
2012 Missouri Bid Calling Finalist (Top 5)
2011 Iowa State Champion Auctioneer
2011 Nebraska Bid Calling Finalist
2011 Nebraska Rookie of the year
2009 1st Runner Up State Champion Auction
We are pleased to have been considered to handle this real estate valuation. If selected to sell your farmland, you can be assured that you have chosen the most qualified firm to conduct this type of sale.
We very much appreciate you considering the viability of the auction method to reduce carrying costs and bring superlative sales results. Our method will net the best possible price.
On behalf of the entire staff at Whitaker Marketing Group we thank you for the opportunity to submit this proposal.
We look forward to working with you on a successful sale.
Best Regards,
David & Ann WhitakerDesignation(s):
Auction Marketing Management AMM, Accredited Land Consultant ALC, Certified Auctioneer Institute CAI
Territory Served:
Iowa, Nebraska, Minnesota
Educational Background:
Iowa State University
AAS Bismarck State University
Des Moines Area Community College
Iowa Association of Realtors Realtor Land Institute
National Auctioneers Association CAI
Missouri Auction School
Worldwide College of Auctioneering
Western College of Auctioneering
Responsibilities: Auctioneer, Owner, and Principal Broker
Territory Served: Iowa
Educational Background: Bachelor of Science University of Northern Iowa
Professional Experience: Brower Holdings
Community Involvement:
Trinity Lutheran Church
American Legion Ambets
Responsibilities:
Agricultural real estate sales representative-agent by auctions, public listings, or private pocket listings.
Land Valuations
Consulting
• Absolute Auction
Anauctionwherethepropertyis soldtothehighestqualifiedbidder withnolimitingconditionsor amount. Alsoknownasan"auction withoutreserve."
• Auction
Amethodofsellingpropertyina publicforumthroughopenand competitivebidding.Alsoknownas "Publicauction"or"auctionsale."
• Auction Listing Agreement
AContractexecutedbythe auctioneerandthesellerwhich authorizestheauctioneertoconduct theauctionandsetsoutthetermsof theagreementandtherightsand responsibilitiesofeachparty.
• Auction with Reserve
Anauctioninwhichthesellerorhis agentreservestherighttoacceptor declineanyandallbids.Aminimum acceptablepricemayormaynotbe disclosedandthesellerreservesthe righttoacceptordeclineanybid withinaspecifiedtime.
• Auctioneer
Thepersonwhomthesellerengages todirect,conduct,orberesponsible forasalebyauction.Thisperson mayormaynotactuallycallor"cry" theauction.
• Bid
Aprospectivebuyer’sindicationor offerofapricetheyarewillingto paytopurchasepropertyatauction. Bidsareusuallyinstandardized incrementsestablishedbythe auctioneer.
• Bid Caller
Thepersonwhoactually“calls,” “cries”or“auctions”thepropertyat anauction,recognizingbiddersand acknowledgingthehighestbidder. Commonlyknownastheauctioneer.
• Buyer’s Premium
Anadvertisedpercentageofthehigh bidorflatfeeaddedtothehighbid todeterminethetotalcontractprice tobepaidbythebuyer.
• Commission
Thefeechargedtothesellerbythe auctioneerforprovidingservices, usuallyapercentageofthegross sellingpriceoftheproperty establishedbycontract(thelisting agreement)priortotheauction.
• Conditions of Sale
Thelegaltermsthatgovernthe conductofanauction,including acceptablemethodsofpayment, terms,buyer’spremiums, possession,reservesandanyother limitingfactorsofanauction. Usuallyincludedinpublished advertisementsorannouncedbythe auctioneerpriortothestartofthe auction. Alsoknownas“Terms& Conditions”.