While October showcases the golden hues of fall, November gleams as the golden month for listing your farmland. If you're a farmland owner contemplating a sale, November is the opportune moment to consider listing your property. In this blog post, we will unveil why November stands as the ideal choice for listing your farmland.
1. Accessibility & Presentation:
Following the harvest, your farmland becomes fully accessible for potential buyers to explore. With no crops or snow in sight, it becomes easier to highlight your property's features. While it may not be the ideal time to showcase soil productivity with lush foliage, it provides the perfect opportunity for buyers to understand the landscape, recognize any land deficiencies or operational challenges. It is just as crucial to show prospective buyers the "warts" as it is to showcase the features. Buyers appreciate the chance to evaluate both before winter arrives.
2. Preparation Time:
Buyers planning to utilize the land for the upcoming growing season need time for preparations. Listing in November provides ample time for field inspections, due diligence like soil sampling, and understanding past cropping rotations, fertilizer applications, and chemical treatments. It allows for better decision-making.
3. Limited Competition:
The end of summer and harvest time typically witnesses the lowest inventory of farmland available for sale. Listing your farmland immediately after harvest means less competition, more buyers, and potentially better offers for your property.
4. New Buyers:
A bountiful October harvest brings a fresh crop of potential buyers. A successful harvest can change a producer's financial position. Those who weren't in the market for farmland last year or lacked the capacity are now looking to expand. November is the time when new buyers enter the marketplace, eager to explore purchasing opportunities. Listing in November puts you in front of these new buyers at a time when they are often the most receptive.
5. Market Timing:
In Saskatchewan, November aligns perfectly with the traditional six-month farmland selling season, spanning from November to April. Farmland listings and sales are most active during winter when farmland is out of production. Listing early in the selling season attracts serious buyers actively seeking land, increasing your chances of finding the right match.
6. Maximum Exposure:
Some properties require unique buyers with specific requirements and capabilities. It takes a customized and detailed marketing strategy, along with time, to find the perfect buyer. Listing in November provides you up to six months, if needed, to discover that ideal match.
7. Tax Planning:
November offers ample time for strategic tax planning. By receiving offers early, you can structure a sale to optimize your tax position, taking advantage of potential tax benefits or implications tied to calendar and fiscal year-end financial planning.
Don't miss the prime opportunity that November presents for selling your farmland. Whether it's accessibility, preparation, reduced competition, a new pool of buyers, market timing, exposure, or tax planning, this month offers a bouquet of advantages. If you're contemplating listing your farmland, make November your moment to shine.
If you're ready to explore the possibilities of selling your farmland this November, don't hesitate to reach out to our Ag Experts. We're here to guide you every step of the way. Put our Acres of Expertise to work for you.