CHOOSE A RURAL PROPERTY AGENT WISELY
If planning to sell your farm, it is imperative you use a vetted property agent and agency proven to be outstanding in your field of operation; but also in property law, industry rules designed to protect you, marketing and advertising and in particular, what methods of sale will work best for your farm, in your location and price range. Commission fees are also something to be planned for.
'Flying Blind' is a term many vendors refer to when looking for a real estate agent - so using our tips below will put you in the driving seat and at the greatest selling advantage from day one.
UNDERSTANDING THE FARM RELATIONSHIPS
You will be in a relationship with your property broker for a number of months so their communication skills combined with their expertise in finding buyers for your farm and location will matter a great deal.
Choosing a rural property agent who 'fits' with you, your family and other decision-makers like your accountant and solicitor is paramount and something we can help you with. (We have specialised in independently vetting New Zealand real estate agents for vendors since 2009).
OPPORTUNITIES NOT TO MISS
Qualified and competent rural real estate agents must have an in-depth knowledge of your operation to avoid buyers falling through the cracks. This is not everyone's forte.
But more than this, the point of enquiry from a potential buyer is a critical opportunity when selling a farm in New Zealand. Rural real estate agents need not only rural sales experience but they must excel at guiding buyers through an often complex, legislated process. Although they are working for you as the farm vendor, building relationships with potential buyers will certainly help smooth the process.
To get started, you might like a shortlist of the best vetted rural agents near you who have the combination of skills and capability needed to sell your farm. With this in hand, you can objectively compare them and their strategies to ensure a top result.
We specialise in vetting and shortlisting rural real estate agents - a genuine free service for selling farms NZ-wide. Call 0800 789 532 to learn more or send enquiry.
RURAL REAL ESTATE AGENTS OBLIGATED BY LAW
Understanding the industry rules for real estate agents which have been designed to protect you, combined with undertaking steps in preparation for the sale of your farm, will create the foundation on which everything else is reliant.
This includes how long it takes to sell and what sale price you can achieve. It will also help you to make fully informed decisions at every step of the process - no surprises.
If you need help finding a rural property agent, request a shortlist to compare now.
People often tell us they are flying blind when looking for a rural real estate agency and agent in NZ. It can be very stressful and time consuming.
Information about you and your farm required by agents to comply with the Anti Money Laundering Act and the Real Estate Agents Act 2008 can feel intrusive at times.
If you have little or no experience about how to determine who is the best property agent for your farm, it pays to use our rural broker who uses stringent criteria to identify the best rural property agents in the industry in your area. We have 13+ years of vetting property agents for sellers nationwide, all at no cost.
Rural property agents must be licensed and require a specialist skill set and/or tertiary qualifications specific to the farming industry and to your type of farm, be it dairy, beef, sheep, crops or forestry.
In today’s environment of climate change, purchasers of farms are more likely to have questions around the Emissions Trading Scheme (ETS) and carbon credits if the property includes a forestry block, and also insurance for natural disasters. Rural property brokers need to be clear on such things as where the farm sits in terms of ETS registration and the current status of carbon credits. They need to be able to respond succinctly and in an advisory manner to assist purchasers.
CHOOSING THE RIGHT RURAL AGENCY
Some companies have rural real estate agents along with residential and lifestyle agents and some companies specialise only in farms and lifestyle blocks. The variations are many but we have a good overview of these nationwide.
A real estate agent will write an Information Memorandum (IM) that can be shared with interested parties - and this takes a lot to prepare.
It takes a lot for a rural farm broker and firm to pass our vetting criteria.
REAL ESTATE COMMISSION FOR SELLING A FARM
Real estate commission for selling a farm is higher than for selling a house because a real estate agent has to research and understand your whole operation and be prepared to answer any questions from buyers. If you would like more information about commission and fees for selling a farm, call 0800 789 532 - this is something we can guide you about.
LISTING YOUR FARM TO SELL WITH AN IM
Once you list your farm with a rural real estate agent and sign an agency agreement, they will compile the (IM) Information Memorandum that describes to qualified buyers all the workings of the farm (following the signing of confidentiality clauses). You will also need to be up front about any disclosures you should make and provide all the documentation required. (see Overview of Selling a Farm below).
Topics you can help your rural land agent with are stock levels and number of paddocks, number of dwellings, soil type and so on.
Find out more about this on Overview of Selling a Farm - all freely available.
There are numerous methods of sale to choose from and the rural property agent you end up choosing should know what method would be best for your type of farm at that time, in your area.
The method of sale is something you can discuss, review and agree upon as you and your property agent finalise the marketing and advertising plan.
The New Zealand Government has rules that real estate companies must comply with when advertising farms.
You are welcome to contact us for free advice about choosing a rural real estate agent or company on 0800 789 532.
Agent Finder NZ Awards:
- Best Independent Real Estate Advisors 2022 | BUILD 2022 Real Estate & Property Awards
- Best Property Advice Hub New Zealand 2021 | APAC
- Most Reputable Property Advice Hub New Zealand for Wise Up NZ 2020 | APAC
- Best Real Estate Agent Vetting Service 2018 | APAC
Article updated September 25, 2023 by Trish Willis - Agent Finder NZ director | Member of the Property Institute of NZ (IPAC) and Awarded Independent Property Advisor Of The Year 2023