How to Prepare Your Farm for a Successful Auction

Land auctions go smoother with proper preparation.

Selling your farm at auction can be a stressful process. But with an experienced auctioneer backed by a powerful auction house, most of that anxiety melts away. Even so, it’s important to be prepared. That includes knowing how to prepare your farm for a successful auction. Here’s a farm auction checklist for maximizing auction sales.

Editor’s Note: This is not financial, investment, legal, or real estate advice. Consult with a financial planner, investment specialist, real estate lawyer, and real estate professional before buying or selling land at auction.

Determine your goals and expectations before beginning the auction planning process.

Step 1: Determine Your Goals and Expectations

The first step in a successful auction is determining your goals and expectations. Just as every property is different, so are the desired outcomes for those selling their land. When considering the auction concept, think about:

● What you need to get for the property.

● What you want to get for the property.

● When you should sell the property.

● What auctioneer/auction house to work with.

● What is the best selling/auction strategy for the property.

There are other considerations, but most of these are more nuanced, all of which the auction Land Specialist will go over during the consultation.

Step 2: Contact Your Preferred Auction House

Once you’ve analyzed your initial goals, it’s time to choose the right auction house. This is the auctioneer and business which will help bring your expectations to fruition.

It’s important to select real estate professionals with expertise in your area. Because of this, Ranch & Farm assigns a local Land Specialist to each individual case. They have the local knowledge needed to properly assess and market your auction, effectively maximizing success.

Those who choose Ranch & Farm to represent them enjoy multiple means of contact. Reach out using one of multiple options. Connect with the auction team of choice via phone, email, social media, etc. Then, Ranch & Farm will reach out to you within one business day.

Gather all available relevant information about your land.

Step 3: Gather Information About the Property

Sellers should gather all available information about the property. This includes general and more nuanced types of info.

● General Information: Acreage, property borders, and more

● Buildings on Site: Homes, buildings, and other structures

● Relevant Property Documentation: Deeds, disclosures, easements, surveys, zoning information, etc.

● Unique Appeal: Caves, rock formations, water features (i.e.: creeks, rivers, waterfalls, etc.), and more

● Recreational Land Value: ATV riding, horse riding, and other recreation

● Hunting Land Value: History of good deer hunting (i.e.: harvest photos, trail camera photos, population surveys, land improvements, etc.), turkey hunting, waterfowl hunting, etc.

● Tillable Features: Tenant agreements (with who, terms of agreements), crop yields, property improvements for drainage or tiling, irrigation status, equipment ownership, water right ownership, etc.

No matter the category, gather all property information. This properly informs the auctioneer, potential buyers, and anyone else involved in the auction.

Step 4: Schedule a Consultation

After initial contact, Ranch & Farm schedules a one-on-one meeting to explain the auction process.

Additionally, the dedicated Land Specialist familiar with the area studies your case. They provide extensive knowledge about the area, and maybe even the farm you’re selling.

Of course, the local Land Specialist also helps assess the value of your property. This is an important step in setting a reserve, measuring expectations, etc.

During the consultation, your local Land Specialist and the Ranch & Farm Auctions team will help determine the best auction strategy for provided timelines and goals.

For example, is it best to sell the property as individual tracts, multi-parcel, or as one contiguous piece? Should it be a live event (in-person), online only, or hybrid auction (in-person and online)? Will it have a 30-, 60-, or 90-day closing period?

If the seller agrees to the terms, they sign on to participate and allow Ranch & Farm Auctions to represent their auction.

Prep the property for the day of the sale, including making repairs and improvements.

Step 5: Prep the Property

Next, it’s time to prepare the property for auction. Proper preparation keeps everyone informed, streamlines the auction process, and usually maximizes the sale price.

As noted above, gather all information about the property, including all general info, building and structure details, unique appeal, recreational value, property documentation, and more. This educates all parties on the property's best use and value.

Then, mark the boundaries clearly. This is important for those walking and observing the property. This assists with transparency, and accurate property representation during the marketing phase, and the day of the auction.

Furthermore, clear clutter, fix fences and structures, and make other necessary repairs. Aesthetics matter, and ensuring utmost curb appeal is crucial for a successful auction.

On that note, beyond repairs, look for other property enhancements. Consider ways you can enhance the landscape. These changes can be cosmetic, practical, or luxury enhancements that increase property value and appeal.

Step 6: Market the Property

Every successful auction is preluded with a strong marketing plan. This maximizes public interest, pulls more and stronger buyers, and ultimately, secures larger sale prices.

That said, contrary to many auction house operations, auction marketing isn’t one-size-fits-all. To maximize property value, each farm requires tailoring the marketing and procedural approaches to the specific property.

This involves many nuances, such as current market trends, among others. Of course, the marketing plan will focus on the property’s strongest characteristics. The marketing tools and practices implemented play to these strengths.

With every property, Ranch & Farm Auctions implements powerful marketing strategies. Naturally, the auction company implements a targeted marketing approach. This helps attract local, regional, and even national buyers.

Generally, marketing plans include a combination of print advertising, online ads, social media campaigns, and more. This includes networking at the local, regional, state, and national levels. As noted, each property plan is fine-tuned based on numerous factors.

Despite the powerful tools available to Ranch & Farm Auctions and Whitetail Properties Real Estate, share the word yourself. Word-of-mouth is still very powerful. Because of this, the local Land Specialist assigned to your auction will implement grassroots efforts as well for the broadcast local awareness and promotion.

Overall, because of the Ranch & Farm Auctions structure, it brings the power of a national brand, combined with the atmosphere, culture, and trust built through local expertise.

Stage the property effectively to maximize auction success.

Step 7: Stage the Property

How the property looks upon arrival matters. Thus, stage the property appropriately for the auction. Of course, Ranch & Farm handles most of this effort. Even so, work with the auctioneer and the Ranch & Farm Auctions team personnel to bring this phase to fruition. Share with them all available information, assets included in the sale, etc. Ranch & Farm will set up for the day of the auction, and will handle the necessary equipment and signage for the event.

Step 8: Avoid Auction Mistakes

There are many legal, ethical, and procedural elements to land auctions. Because of this, it’s crucial to hire an experienced auction company. Secure one with the skill and resources of a national brand paired with local knowledge. That’s Ranch & Farm Auctions.

Furthermore, there are certain auction mistakes to avoid. Do things the right way and in the correct order.

1. Don’t rush the process, but don’t procrastinate, either.

2. Provide enough time to complete important objectives.

3. Complete important assessments and property disclosures.

4. Disclose known challenges or issues with the property.

5. Be open and honest. That’s best for you, potential buyers, and the auction company.

6. Complete all legal documents. Consult with a lawyer to ensure this is done correctly.

7. If desired, conduct an appraisal. That said, Ranch & Farm Auctions does provide input on the value of the property.

8. If you plan to do a reserve auction, and not an absolute auction, set the reserve at an appropriate number.

Of course, the Ranch & Farm Auctions representative will also go over the costs associated with an auction. Every auction has a unique set of costs and you should discuss these with the auction team.

That said, for whatever costs (i.e.: taxes) you might accrue as the seller, it’s important to factor that into the reserve price for the auction. Plan for this as needed.

Once the auction begins, it's success is measurably impacted by the preparation that preceded it.

Land Auction Expectations

There are certain things individuals selling their land at auction should expect. Be prepared to accommodate the following, and more.

First, once the property is marketed, some individuals will want to see and walk it. Therefore, allow time and space for interested parties to tour what will be available at auction. This needs to be facilitated and managed by your local Land Specialist.

Other individuals might wish to evaluate the soil quality. Without question, soil productivity correlates highly with property value. Some might ask for soil samples and tests.

Finally, be reasonable. Ranch & Farm Auctions is incredibly skilled at delivering the best possible auction experiences and results. But it’s easy to overinflate expectations and be unreasonable. Plan for the best possible outcome, but recognize acceptable outcome falls within a range, and not a singular aspirational figure.

When the Auction Begins

On the day of the sale, be available by phone to answer questions that the auctioneer, and buyers, might have about the property.

As for bidding, flexible options are available. These include bidding live (in person), live (online), by phone, and in hybrid formats. This maximizes visibility and improves competition.

Remember, Ranch & Farm Auctions employs exceptional talent to drive the auction forward. That includes hiring award-winning, top-tier auctioneers. These individuals equip your auction with industry-leading skills and abilities.

Lastly, a good auction company manages each phase of the auction process. Ranch & Farm Auctions offers that ability, making it a hassle-free process.

For landowners looking to sell at auction, contact Ranch & Farm today. No matter your land auction needs, we can address questions with a consultation.

Published on 2025-02-27