January is Decision Time

January is Decision Time

As we embrace the brisk winds of January 2024, many of you might be contemplating whether to list your farmland for sale this winter. We want to share some insights on why listing your farmland property sooner rather than later is a beneficial strategy.

1. Adequate Market Exposure

The first reason is straightforward yet crucial: market exposure. When you list your farmland early, it gains more time to be noticed by a broader range of potential buyers. While local buyers may learn about your property almost immediately, it can take up to three weeks for non-local buyers to discover your listing. This extended exposure is vital to ensure your farmland reaches every corner of the market.

2. Buyer Decision-Making Process

Secondly, let's consider the buyer's perspective. Purchasing farmland isn't just a financial commitment; it's a logistical one. Buyers need to plan for seed, crop inputs, and fertilizer, and consider potential changes in crop rotations. Moreover, expanding their operations might require additional or different equipment. These decisions demand time and careful thought, even additional financing. By listing in January, you're providing potential buyers more time to make well-informed decisions, which is beneficial for both parties.

3. Financing Timelines

The third point revolves around financing. During summer, financial analysis and approval for proposed purchases can be completed relatively quickly. However, winter brings a surge in requests for approved financing, leading to a bottleneck. In our experience, getting financing approved in winter can take anywhere from 3 to 6 weeks. An early listing can help streamline this process for potential buyers and provide them with extra time, should they require it.

4. Legal and Financing Processes

This brings us to our fourth point: the legal and financial processes. An estimated two-thirds of farmland transactions close between January and April. This period is very hectic for lawyers and lending institutions alike, as they're not just working on your transaction but several others. Listing your property in January can help ensure these professionals have adequate time to process your transaction smoothly.

A Seasonal and Cyclical Business

It's essential to remember that farm businesses are seasonal and cyclical. Major decisions are often made in January, if not earlier. By listing your property now, you align with the decision-making cycle of buyers, increasing the chances of a timely and successful sale.

As professionals in farmland real estate, our goal is to ensure that your selling experience is as effective and stress-free as possible. If you're considering selling your farmland this winter, we encourage you to reach out to us. We are here to provide you with personalized advice and support throughout the entire process. If you have decided to sell, the sooner you list, the sooner we can get potential buyers to consider the opportunity and decide if it works for them or not.

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