Selling a farm is quite the task, but there are a number of things you can do to help ensure the best outcome possible. There are also a number of things you can do to ensure that the task is as arduous and stressful as possible and, unfortunately, these mistakes are all too common. Here are some mistakes to avoid when selling a horse farm.
Relying On Online Price Estimates. A Zestimate on Zillow can be pretty accurate in a neighborhood filled with townhomes, but can’t account for condition of a property and it is notoriously bad at pricing highly custom properties like a farm.
Forgetting About Liability. Showings can become complicated when you have to factor in the safety of both humans and animals. We usually recommend removing dogs from the property during showings as we want to make sure buyers feel comfortable and a barking dog might make some buyers feel the need to rush. When you also have livestock, you will want to make sure you have an agent who understands the situation so they can advise on how best to handle showings. That may mean, attending each showing or personally contacting each buyer agent with detailed instructions depending on the livestock present and the seller’s comfort level.
Neglecting Photography. Buyers love to look at photos before deciding to go look at a home or a farm. Why wouldn’t they? It’s a major time saver. If you are trying to sell a horse farm, you need quality photos of the home, outbuildings, arena, and pastures. Ideally, you will want drone photography as well. Many farm buyers are coming from quite a ways away and to get them in a car or on a plane, you will need to make a good impression online.
Skipping Maintenance. This oh-so-common mistake really comes back to haunt many farm sellers. Any farm owner will tell you that there is always some project in the works. Farm owners are busy people and routine maintenance of the home and property may fall by the wayside at times, but it can really hurt your profits when it comes time to sell.
Believing The House Doesn’t Matter. As a horse person, it is entirely possible that when you bought your farm, you marched straight into the barn and made your decision to buy then and there. However, when it comes time to sell, you need to be mindful that there is often more than one decision maker and it is likely that someone is going to really care about the condition of the home. Making sure there are designated “people spaces” and “animal spaces” on your farm is very helpful when it comes time to sell even if the reality of your living situation is very different.
Not Hiring An Agent. I couldn’t put this down as the first item because I knew you’d stop reading, but hiring the right agent is critical. The horse world feels small sometimes (Ok—all the time) and I know it seems like reaching out to your contacts should be enough to get the job done, but the reality is that in a niche market, your property will need as much exposure as possible and an agent with knowledge of horse properties will be able to make that happen. Have I sold properties off market? Yes. Is it the most frequent outcome? No.
Sarah is a Realtor specializing in residential and equestrian properties. She is based in Howard County, Maryland.
Posted by Sarah Lipkowitz on
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