You’ve decided to sell your horse property and you need to find an equestrian real estate agent to help you. I always advocate that you interview at least two and preferably three agents, to find both an experienced equestrian real estate agent for your area but also one you feel you can get along with and take advice from. That last part is critical to a great working relationship while your property is on the market and it starts at the interview stage.
- Remember that an equestrian real estate agent likely sells several horse properties every year in addition to other sales.
- Experience is the basis of our knowledge on market activity and correct pricing.
- Like it or not, we know more than you when it comes to selling.
- We are interviewing you as much as you are interviewing us.
- An equestrian real estate agent has the right to deny your request for service.
- You have the right to chose another agent.
The interview is an important one for me specifically because I will not ever take an overpriced listing. There’s no point in spending time and money marketing a horse property that will be rejected by the horse property buyers. Properties sit on the market and stagnate…..no sale. Often it can be difficult to come up with an accurate or exact price but a range is usually easy to establish, especially if you work in the horse property niche and know how to find suitable comparable properties. A range within $25,000 is acceptable but when you start being $50,000 or more off target, you’ll soon know.
Pick The Right Equestrian Real Estate Agent
In life “Honesty is the best policy” That’s true for selling real estate as well. If an equestrian real estate agent is good at her job, she’ll have no problem telling you if your perceived value of your property is too high or less commonly too low. Times have changed and the real estate market took a real lashing in 2007/8. Certain types of real estate have recovered well, although values are still not what they were. Other types of real estate are still struggling and values are more or less flat. One of those is commercial real estate. And another, you guessed it, horse property.
Accepting a listing where a seller dictates an asking price that is far too high is not professional service, at least not in my book. I understand the property is owned by the seller and they have the right to choose and set a price. That does not mean an agent has to accept the challenge. I mean really, haven’t you heard the term flogging a dead horse!
If you want to sell, please understand we as agents have the data to give us the ability to show you sales which in turn is the market acceptance.
Once you have selected and hired your agent, you should not call other agents for advice. If you do, I am going to be calling them to let him or her know.
Equestrian Property Sale Rules
I want property owners to remember a few things:
- The market determines your price, not you.
- If you are not getting showings, you’re overpriced.
- If you get showings but no offers, you’re overpriced.
- Lastly, a price cut that represents a tenth of 1% each time is not going to make a blinkered bit of difference.
Real estate is not a new thing. Thinking out of the box on marketing still won’t sell an overpriced property. Your price is the first litmus test. Presentation and marketing come after. If you do not like the price, maybe it’s not the right time to sell. Remember too that there are three people to sell to, your buyer, the buyer’s agent and finally in most cases an appraiser.
Choosing an equestrian real estate agent comes down to more than just a big brand name. It really makes no difference who the brand is. It’s the agent that is the person you are dealing with, the agent discusses and advises on price, market, condition, presentation and likely time to sell your property. It’s the agent with the experience in horse property sales that has the knowledge. An agent that lists your property at the right price will give you the best shot of a sale.
I respect any seller’s right to select the agent for themselves. That said don’t go calling on other equestrian real estate agents when things are not turning out well. You need a heart to heart conversation with the one you hired. If they don’t have the guts to tell you that you are wrong, you won’t sell.
Contact Corinne, The Equestrian Real Estate Agent
If you have a property to sell we’re here to help. If you want to hear a price the market will support and get your property sold, she’s the agent for you. When you are ready to buy horse property, you’ll never be left wondering whether the asking prices are high or a deal. Contact Corinne at 847-363-3686. She serves the Barrington area and much of Northern Illinois for horse property sales.