Key Takeaways

Choose an advisor who provides transparency, welcomes qualified buyers, understands the type of property that you own, demonstrates relevant results, and builds the strategy around your family’s goals.

A farm or land sale may be a once-in-a-generation decision. Geswein Farm & Land helps families, trustees, and landowners evaluate their options and develop a complete strategy from preparation through closing.

Questions to Ask Before Selling Farmland or Large Acreage

Selling a family farm, inherited property, or trust-owned land requires more than choosing between a listing and an auction. The right advisor should understand the land, the local market, and the family’s goals, timing, and responsibilities.

How Is the Commission Structured?

Traditional listings commonly use a seller-paid commission. Auctions may use a seller commission, Buyer’s Premium, or both. Ask for a written estimate showing the anticipated sale expenses and net proceeds.

Are Farmland Commissions Negotiable?

Yes. Fees may reflect acreage, value, tract design, surveys, marketing requirements, and transaction complexity. Sellers should compare the expected net result—not commission percentages alone.

What Are the Listing Agreement Terms?

The agreement should clearly address its length, exclusivity, compensation, expenses, cancellation rights, brokerage responsibilities, and any protection period after expiration.

What Land-Specific Experience and Designations Do You Have?

Ask about farmland transactions, agricultural education, professional designations, and national land networks. Selling rural acreage requires skills beyond residential real estate.

Do You Cooperate With Outside Buyer Agents?

Qualified buyer agents should be welcomed and compensated fairly. Restricting cooperation can unnecessarily reduce the buyer pool.

Who Will Conduct Property Showings?

A knowledgeable land professional should understand the boundaries, soils, drainage, access, improvements, and recreational features—not simply direct buyers to the property.

How Will the Farm Be Marketed?

A comprehensive campaign may include photography, drone video, mapping, direct mail, neighbor letters, signage, digital advertising, land websites, public relations, and personal outreach to farmers, investors, institutions, recreational buyers, and exchange buyers.

Should the Farm Be Sold Whole or in Tracts?

The answer depends on road frontage, field layout, soils, drainage, wooded acreage, homesite potential, legal access, and survey costs. Multi-tract offerings can allow individual-tract, combination, and whole-farm buyers to compete.

Should We Use an Auction, Listing, or Sealed Bid?

The best method depends on the seller’s goals, timing, risk tolerance, buyer pool, and desire for competitive price discovery.

Reserve Auction or Absolute Auction?

An absolute auction sells regardless of price. A reserve auction provides seller protection through an established minimum. The recommendation should reflect market conditions and the family’s comfort with risk.

What Happens if the Reserve Is Not Met?

Ask which marketing, survey, technology, photography, or other costs remain payable if the property does not sell.

Do You Use Multi-Parcel Auction Software?

Modern multi-parcel systems allow buyers to compete for individual tracts, combinations, or the entire farm, helping identify the strongest overall result.

How Are Buyers and Bidders Qualified?

GFL’s Buyer Background Check Tool reviews available public-record risk indicators and categorizes prospective bidders as Low, Review, or Flag. This added diligence can help protect sellers, trustees, and the closing process.

How Will Existing Farm Leases Be Handled?

The strategy must account for tenant rights, crop ownership, rent allocation, possession, harvest timing, and required termination notices.

What Local Results Can You Demonstrate?

Ask for comparable large-acreage sales and auction results. Recent GFL auctions include 602 acres sold for $11,593,000 and 352 acres sold above a $3.1 million reserve.

How Will You Address Tax, Title, or Environmental Issues?

A land professional should coordinate with the family’s CPA and attorney regarding stepped-up basis, 1031 or 1033 exchanges, title defects, easements, abandoned wells, environmental concerns, and other potential obstacles.