Are you thinking of possibly selling your Virginia equestrian property? When you’ve thought things over and selling the horse ranch is the best possible solution to the concern or challenge you are facing, then it’s time to commit to that decision.
There are many things to consider and a long list of things to prepare. You’ve probably even made a list of things to do, as well as a list of questions to ask your real estate agent.
Some questions are easy to ask. Others are more difficult.
Here are several questions you should be asking but don’t know how to ask:
1. Why should I hire you?
It can be an awkward question, but it’s something you have to ask. You need to know what sets your real estate agent apart from others. A good agent will have an answer prepared, providing reasons why he or she is best suited to the job.
Real estate agents vary in skills and niche. Some excel in selling luxury properties while others do best in selling single family homes.
But if you are looking for someone to help you professionally sell a horse farm, you can’t just trust your property to anyone. Not all real estate agents know how to sell an equestrian property.
Only someone with the local knowledge knows the intricacies of buying a property with the right soil and features.
If you are selling a horse farm in Charlottesville or in any part of Central Virginia, I am the best real estate agent who can help you sell your property. You can get to know more about me here: https://www.jumpintogreenerpastures.com/about-us-central-virginia-real-estate/
2. Who tops your list of most difficult client and how did you handle it?
This a common question in the corporate world if you are looking for a job, but if you are hiring the services of a real estate agent, it can be difficult to ask. However, you’ll find the answers interesting and sometimes amusing.
More importantly, the answer reflects several personality traits of the real estate agent. Selling a property can be stressful, and when tensions run high, you need to have an idea of how the agent will handle and cope with the situation.
You want an agent who is patient and open to communication. If this is your first time to buy a property, you want to learn about the process as much as possible, and you’ll have plenty of questions.
Find an agent who will patiently teach and coach you through the selling process without making you feel embarrassed that you have to ask.
3. If you are a buyer, will you be interested in my property?
You need the honest opinion of your agent. You may not like the possible answer, but it’s a question you have to ask because you want to see your property through another person’s eyes.
4. What features will help sell this property?
Buyers are looking for specific features and amenities when they buy a property, and it depends on what their final plans for the property are. Ultimately, your horse farm for sale in Virginia should offer features they want.
5. How much do you charge for your services?
It’s always good to be clear and transparent on money matters. You’ll be paying the real estate agent, so you need to know exactly how much to pay for.
Real estate agents don’t charge a flat fee. Rather we take a percentage of the property’s selling price as our commission.
If you have any concern about the commission, don’t dance around the subject. You need to discuss it directly with your real estate agent.
6. What kind of guarantees do you offer?
A question that many sellers forget to ask agents is guarantees. Since you’ll be paying a good amount of money, you should hold the agent to a high standard of service. Find out if the agent offers any guarantee and what those are.
7. How will you market my property?
One of the reasons to hire a real estate agent is because you need their marketing expertise. Your agent should be able to clearly discuss with your the different sales strategies he or she will use.
There are different kinds of marketing strategies. The traditional tactics involve staging your property for photographs, using banners, and preparing flyers and brochures. New techniques include social media marketing and video tours.
Your agent should have a range of marketing ideas under his or her belt that will increase the reach of your home’s market.
8. Will you help stage my home? Who pays for the staging?
Some agents handle the staging process as part of the listing. They have a team that takes care of the staging.
Other agents will give you a list of staging contractors you can hire to stage your home. Find out how your agent takes care of staging so you’ll know what to expect.
9. How did you estimate my home’s value?
When you talk to real estate agents, your trust that we are professionals and know what we are doing when we estimated the value of your property. It is also helpful to ask how we reach that number.
There are different ways to find the value of your horse farm. The easiest one is to simply enter the address into a home value estimator which will produce in seconds a free estimate of your property’s worth. This technique is not really accurate and should be used more as a guide rather than the actual figure you’ll use when listing your property.
The best way to know your farm’s market value is for the agent to pull information from the multiple listing service. The multiple listing service is a database of homes and properties in your area, and it contains a record of all the homes that have been sold, homes that are currently in the market, and homes that have expired.
A good real estate agent will consider all these factors in preparing comparables for your property. Any upgrades you make will also be included in the estimated value.
10. What legal issues do I need to know as I sell my horse farm?
Selling an equestrian property means going through a legal process. Your agent must discuss with you any issue that’s connected to the sale, as well as any updated regarding the property’s zoning.
11. What’s the best time of the year to sell? What tactics will you use to get me the best price if it’s not the peak season?
There really is no best time to sell a farm. You can sell a farm any time of the year, although most farms are sold in spring.
If you’re planning to sell your horse farm and you can choose a month, most agents will want you to have your property ready at the beginning of March. This is because circuit horse owners who are looking for properties start looking in February and March.
When it comes to tactics, the farm condition is very important. It should be clean. You need to freshen up the paint.
Give some love to the fence as it will be the first thing the buyers will see from the road. A neglected-looking form will likely scare the buyers away.
Another important tactic to selling an equestrian property is the price. An overpriced horse farm will stay on the market for a long time.
12. What factors might affect the sale of my property?
There are several factors that affect the sale of your property.
Location. Location is one factor that affects how much the property is worth.
Is it close to the freeway? Is there a school nearby? How close it is to amenities and conveniences?
People generally want to live close to where there are amenities.
Supply and demand. Another factor that influences the sale of your property is the supply and demand. If the demand exceeds the supply, expect property price to increase. If there are more properties and less demand, expect property price to decrease.
Interest rates. The real estate economy is dependent on interest rates. When interest rates are low, more people will want to avail of mortgage loans, giving you a high chance of selling your property faster.
Economy. The economy also has an impact on the real estate market. If the economy is strong, more people will be able to afford to purchase a property.
Home Condition. The condition of your farm affects not only your price but also how fast it sells. Properties that are well-kept and properly maintained can command a higher price over neglected properties.
Marketing. Your home exposure also affects the sale of your home. If you’ve done proper marketing, your home will have more reach and more likely to be sold easily.
Price. This is the most important factor that affects your property’s sale. Of course, you want to maximize your net proceeds, but you also don’t want to overprice your property.
13. Will you be personally answering the calls regarding my listing?
Real estate agents are very busy so you have to clarify with your agent who will be receiving the calls regarding your listing.
14. What do I need to consider when accepting offers?
Receiving offers on your property can be exciting, and you may be tempted to accept the first offer. To make sure you get the right offer, ask your agent what considerations should you be thinking of in accepting offers.
The following are some factors you need to think about before accepting an offer.
Net profit. An important thing to check is how much money you will walk away with after settling the agreement. Sometimes, buyers have requests that can reduce the net proceeds of the purchase, so you need to read everything carefully.
Buyer qualification. Check if the buyer is pre-approved for a loan. There’s a huge difference between pre-qualified and pre-approved. A pre-qualified buyers may or may not get the loan, but a pre-approved buyer will definitely be approved for the loan. Sometimes, even if the buyer is pre-approved, the lender may even get turned down for the loan. But it is always better to choose a pre-approved buyer.
Financing. Another important consideration you have to make before you say yes to a home offer is the type of financing the buyer will get. There are different kinds of mortgages. Some mortgages allow a buyer with a low credit score and minimal deposit to purchase a property, while other mortgages are more stringent and require a higher deposit and higher credit score.
Time frame. How long can you wait to sell your home? Some sellers are in a hurry to sell, others can wait for a few more months. Your time frame will definitely influence your decision of whether you’ll accept the purchase agreement or not.
You don’t want to rule out a buyer because of financing, but you need to know what to expect. A buyer with a mortgage requiring for higher credit score and a decent downpayment is more likely to complete the purchase without a hitch than one who has a lower credit score and minimum deposit.
15. Do you have a staff who helps you in the various real estate transactions?
Real estate agents are busy people so we usually hire people to work for us. In my case, I have a staff who takes care of digital marketing.
Get to know your real estate agent well. Don’t be afraid to ask questions. Your real estate agent has heard many strange questions asked, so he or she can take it.
Put your Virginia equestrian property for sale in the hands of the person you truly trust.
Do you have any questions on how to sell your horse farm? Call me, Pam Dent, at 434-960-0161 so we can discuss the best ways to market your property.
In case you can not view this video here, please click the link below to view ⁇😟What Questions Don’t I Know to Ask When Selling My Virginia Equestrian Property on my YouTube channel: https://www.youtube.com/watch?v=87pe6WjHGEQ&index=19&t=0s&list=PL3hDkaZjN1QDmwHVFNVc9qI8Ip5snCIkz.