What is the real value of a broker?
In my fifteen years career in commercial real estate, I’ve asked one question many times: “What are the first three words that come to mind when I say broker to you?” Talk about a mixed bag of responses! What I have found to be very interesting is that my foray into the farmland world has resulted in different answers. This is all anecdotal of course, but the overarching sentiment has been on the positive side of the scale, which I applaud.
So in the interest of continuing a legacy of value, we bring three main points on how conscientious real estate agents and brokers bring value to the marketplace. We’ll comment on how they bring confidence to all parties with their expertise, their salesmanship and project management skills. As with all thought-pieces in the tech world, we look forward to, dare I say encourage, your responses and welcome a conversation.
Good Brokers Provide Confidence
As brokers, we draw on many sources to have confidence in our decisions. Because we are in the 21st century, our mental resources are able to be augmented by the technology that is available to us. We live in an amazing age where websites and software like FarmlandFinder are at our fingertips to provide instant access to online information. Have you ever experienced “paralysis by analysis”? Buying or selling farmland in today’s world, the amount of questions, level of emotions and varying sources of data can be overwhelming. Confidence to buy comes from knowledge about the marketplace and the land in question. Not many of us will write a check or sell our farmland without first filling in the gaps in our decision matrix. Brokers spend all day every day (almost 24/7) making sure they understand the market. Who’s buying? Who’s selling? What is the assessor’s opinion of value? What is the value of comparable properties in recent sales? They also know who’s shooting straight and who tends to cut corners. There is great value in this. FarmlandFinder helps bring these resources together. Having access to verifiable information brings confidence to the parties in a farmland transaction.
Good Brokers Answer Questions
“Sell, sell, sell!” A mantra upon which our country was built upon. Love it or hate it, if a good portion of us weren’t selling something our world would look a whole lot different. Fortunes have been made because someone was selling. Good agents and brokers will be selling all the time. They learn how to serve their respective markets by learning who has a motivation to transact. Why do you want to buy? Why should you sell? When should you sell? A good broker will help you navigate the data and discover your answers.
Good Brokers Manage the Mayhem
For many, the sale or acquisition of farmland only happens once in their lifetime - maybe twice. This means that, for a majority of people engaging in a transaction, it’s a new process to navigate. This process has many stakeholders: lenders, surveyors, municipalities, neighbors, the “opposing team,” title companies, attorneys; all these professions are going to be part of your transaction. Can you manage it on your own? I like to tease my clients that “this is rocket science!” It’s just like anything, 99% of a job is knowing how to do it. Your broker will not only be your cheerleader, but your most important project manager. The project? Get the transaction to close quickly and with as little heartburn as possible. That’s value.
If you’ve made it to the end of this post, thank you. We’re all in this together. If you're someone looking to buy or sell farmland, take a look at land for sale and broker profiles to find someone to help you through the process! If you’re a broker and would like to leverage technology to be more efficient, please reach out to David, our Product Solutions Specialist. There may even be a deal for you!