Auctions Are Building in Popularity

Auctions are increasing in popularity among land buyers. Throughout the nation, people are seeing this as the best route to buying real estate. There are numerous reasons for this.

First, it provides people with increased access to available land. Second, it features an exciting environment. Third, it provides a fair and transparent bidding process. Fourth, it delivers accurate property market value. Fifth, there are in-person and online buying opportunities. Sixth, people have a set timeline to prepare for buying. Seventh, it creates a fast sale and closing timeline. And eighth, it has a definitive sale outcome.

Market Conditions Are Primed

The current market conditions aren’t what they were a few years ago just after covid. That said, they’re still quite good. Now is an excellent time to pull the trigger on a real estate decision. As they always say, what’s the best time to buy? Yesterday. If all other aspects of the sale are in place, don’t hesitate.

Time of Year Calls for It

There are pros and cons to auctioning land at various times of the year. Winter provides low competition from other auctions, as it’s the slowest time of year. That said, if the weather is good, it can translate to a decent turnout since you aren’t competing against other auctions.

Spring green-up brings the renewal of plant life, and properties look great because of it. That said, as the weather improves, auction counts do, too. This can lead to more competition, but thankfully, Ranch and Farm’s advertising and marketing tactics rise above this challenge.

Summer brings peak auction season. This is the time people are most interested in land and properties look their best. Thus, it’s also the most saturated time for auction events. Once again, it’s crucial to price properties correctly, market auctions effectively, and create buzz and interest in auctions. And again, Ranch and Farm does that and more.

Lastly, fall provides another great time to auction real estate. There’s less competition with other auctions. But auction attendee turnout tends to decline somewhat. Oftentimes, these two things can offset each other for positive overall attendance.

You Just Inherited Real Estate You Don’t Want or Need

Perhaps you just inherited real estate from a family member. Maybe a friend left something to you. And despite that, you don’t really want it. That leaves you with one primary option — selling it. Listing or auctioning that land is the best avenue for liquidating the asset. Ranch and Farm and Whitetail Properties can help with that.

Desires for Safe-Haven Assets

Historically, land has proven itself as a relatively safe asset. This strong class is known for performing very well over the long-term. Over the past decade, it’s even done well on the mid- and short-term timeframes. Thus, it’s often selected as a safe-haven asset.

Potential for Various Types of Buyers

Auction attendees come from many different walks of life. Furthermore, they might be locals, in-state, or out-of-state buyers. Plus, auctions produce buyers in different formats. Examples include in-person, online, over the phone, and even as proxy bidders. Auctions attract numerous types of buyers.

You Control the Sale Process

Those who choose to sell their land at auction enjoy multiple advantages. First and foremost, you control the sale process. The selling of the land is firmly in the hands of the seller, and the auctioneer selling the land. This is why Ranch and Farm hires a reputable, proven auction team to execute the event.

Secondly, auctions tend to draw more interested parties than traditional listings. Furthermore, they do so in a set time limit with a predicted finalization date.

Third, the auctioneer works for the seller, and there is no negotiating. Those bidding must go numerous rounds and outlast all other bidders. It’s far more competitive than a traditional listing, where you might have one or two rounds of competitive bidding (circumstances depending).

Demand Continues to Climb

Auctions continue to gain popularity. That’s important, as buyers are attending these in hopes of securing their homes, investments, and recreational lands. Therefore, demand for land, and land sold at auction, continues to climb.

The Supply Further Diminishes

It’s cliche, but the common saying that they aren’t making any more land is true. In fact, with continued land development, land supply continues to diminish. Commercial and housing installations are chipping away at rural properties, and that’s not good for the buyer.

But it’s good for the seller. As real estate supply declines, demand only increases. This works in favor of those who choose to sell land. And those who bid on land at auction create even more competition on top of that which stem from supply and demand.

Prices Continue to Increase

As the aforementioned demand increases, so does price. Real estate prices continue to climb, and that’s great for all. A continual, gradual climb in prices indicates a healthy market, and right now, that’s what we have. That’s great news for sellers, and even buyers, alike.

Interest Rates Are Leveled Out

Interest rates rise and fall. That’s true for both recent and distant history. This is part of lending and borrowing, and hinge on many other economic factors. Although, in recent years, interest rates rose, these are still far below historical highs, and even historical averages. Interest rates are still relatively low, and in contrast to the short-term spike, are leveling out.

Investors Are Pouring Into Real Estate

Real estate is a popular investment avenue. It’s a proven, safe asset that people trust in masse. Therefore, as other asset classes underperform, or lose trust, investors continue to pour into real estate. That’s positive for sellers, whether by traditional listing or auctions.

Buyers Are Highly Motivated

While supply continues to decline and demand increases, that translates to increased motivation. Other factors, as mentioned above, increase buyer motivation as well. This is a good thing for sellers and generally leads to higher sale prices.

Because Now Is the Right Time for Buyers

For a lot of buyers, now is the right time to purchase real estate. People are allocating their funds to property, country homes, and land alike. And since it’s the right time for buyers, it adds further incentive to move forward with the auction.

Because Now Is the Right Time for You

Lastly, now is the time to sell your real estate at auction because it’s the right time for you. You’re ready to liquidate some or all of your real estate assets. Plus, spring and summer are the best times of the year for auctions, and the timing couldn’t be better.

Contact Ranch and Farm Today

For landowners looking to sell at auction, contact Ranch & Farm. We can answer questions and help with your auctioneering needs. Schedule a free consultation with a seasoned Land Specialist who is deeply knowledgeable of your geographical area. Chances are you’ll decide now is a good time to auction your farmland.