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Listing a farm for sale.

deerdown

deerdown

Well-Known Member
So, I decided to sell a farm and am going to list it with a realtor.

What are some of the finer points of the listing agreement you have negotiated?
We agreed to a 4% commission if he lists and sells it, and 5% if another agent sells it. Should this read a 4% commission if he or another agent in his office sells it?

He wants a 6 month listing, although I'd prefer a 3 month. But, I don't want to short change the process.

Do you write in a terminate at will clause if he isn't marketing it as you expect?

What other suggestions, or changes to the above do you recommend?
 
I sell real estate in MN. I would say your commission is about right for land. A six month listing is very common. I would not take a 3 month as it sometimes takes 2-3 months for activity to start on the farm. Unless you are listed below market.

A contract is pretty standard, that they would have an opportunity to sell it within six months. Most realtors have websites, drone pics, if a prospective buyer does not see it that would be odd in todays world of internet and social media. You could ask them to make sure it is on landsofamerica.com, maybe others etc... Most buyers search by county, and they should see it!

Good luck!
 
Thanks HW. Yes, he said it'd be on LandsofAmerica and other social media sites. He has a contact list of 1600 people he emails with new listings, I am on that email list. He seems to do a decent job of advertising, but you never know if you might be the exception.
 
3 month is fine & if he doesn’t have sold in 3 months in this market - there’s likely another issue.
4-6% is pretty standard. 5 with another realtor - all fair.
Then it’s a matter of the realtor being a go getter & having the exposure & follow through with it. Great people skills, etc. Your land priced correctly combined with good realtor should move it in this market.
 
I would of listed on here first!! Skip the realtor and save 4pct! Post on here also and tell realtor you have done so.

Sent from my SM-G996U using Tapatalk
 
Can anyone list on lands of America, mossy oak, white tail properties, etc.,? Or do you have to be a realtor?
 
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