Feature Teamwork Pays When Selling Farmland, Realtor Says by Jeff Gaye
You have farmland to sell. What do you need to know, and where do you start?
cash, to get the highest amount of money possible for our Seller clients.”
Harry Sheppard owner of Sheppard Realty, a real estate brokerage with a strong focus on agricultural land transactions, has been assisting clients with buying and selling Saskatchewan farms for the past 10 years. When it comes to selling, he says most land sales are triggered by one of the “three Ds”— debt, divorce, or the date on the calendar. Other reasons include estate sales/passing of a loved one, division of assets, or “just time to retire”.
There are also important tax considerations, and a seller has to plan for what they will do with the proceeds of the sale. At least some of this planning should be done before you put up the For Sale sign.
When you’re looking for a realtor, Sheppard says the first thing is to find someone with experience in the profession. This may seem obvious, but Sheppard says farmland sales are usually a one-time thing for landowners, and the guidance of an experienced agent can make a big difference to what you earn— and what you keep—from the sale.
A realtor is a third-party professional who will represent you, as a seller, in negotiating the best price for your land and the best terms and conditions for the sale.
“Most sellers have never sold land,” he said. “Typically they’ve been acquiring a land base over the years, and all of a sudden they’re faced with the time to sell it.”
“It’s the buyer’s hard-earned money and the seller’s valuable land that’s being transacted,” Sheppard said. “We are undertaking as the seller’s agent to market the property on behalf of the seller. We take all of our instructions directly from our sellers. We don’t make any decisions in terms of price, they’re in full control.”
Many will find an agent based on a referral from someone they know; others will start searching the internet. Both are good ways to start looking.
According to Sheppard, there are three important components to getting the most from a land sale. First of all, a good real estate agent will help you get the best price for your land. “Raising the most money, that’s where I come in,” he said. “I’m here to create the
Farm & Ranch Real Estate. It’s what we do. Thinking of buying or selling farm or ranch land? Put our family team to work for you. We truly understand rural real estate, and are committed to helping our clients buy or sell with confidence and ease.
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HEUSTON RANCH 8,293 ACRES ROCKGLEN, SK AREA • Many acres of land for grain production, grazing, and hay production • Two modern ranch-style houses • Abundance of well and spring water • Newly-constructed hay shelter • Heated workshop • Machinery storage • Corrals and livestock handling buildings with calving barns Visit us online for full listing details.
sheppardrealty.ca | 306.352.1866 | 3287 Quance Street, Regina, SK 26
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NOVEMBER 2020
