Monday, May 1, 2017

Top Marketing Mistakes While Selling a Farm

If you haven’t been successful in selling your farm yet, there are high chances that you are making mistakes in the marketing aspect. It is essential to market your farm effectively so that more and more buyers are lured towards it. This will ensure that you get the best price for your farm along with selling it as soon as possible.
Here are the top mistakes which the farmers tend to make while selling a farm:

Working without a Plan
Many people plunge into marketing their farm without following a well-defined plan. It is essential to have a plan which allows to come up with the perfect price for the farm. This price should be able to justify the cost plus bring significant profits while being apt according to the market. Although there is guesswork involved in it but it will help you in getting somewhere at least.

Thinking That the Market Cares
The market doesn’t have any time to consider the emotional factors and works only on the principles of demand and supply. There are seasons when the price of the farm stays way below than the cost of production which the farmers have to bear. This can happen at any time so it is better to sell the farm keeping in mind the current demand.

Reluctance in Selling At Lower Price
Many times the farmers refrain from selling their farm thinking that the price will bounce back. However, the market only goes further down with no sign of coming to a high. Most of the traders are following the same suit so it is better that you take your chances before they do.

Not Knowing All Marketing Alternatives
Making a decision can be really hard if the farmer is not aware of all the marketing alternatives. He needs to be familiar with the terms and understand their meaning so that he can think of successfully employing them. The more alternatives one has, the better are the chances of having a good sale price.

Setting an Unrealistic Goal
When someone asks what you are trying to achieve, the only answer you have is to get “as much as possible” from the farm. Setting the objective of selling the farm at the highest possible price isn’t a realistic one. You tend to be disappointed when the prices trade higher after you make the sale. With the help of your CPA and banker, determine a return on investment or a net per-acre objective which will help you in getting a good price.

Putting Off Sales Decisions
Thinking to watch the markets now and putting off the sales decisions to a later stage is not a good one. Make a mind and try not to change it by being too observant towards the market trends.

By avoiding these mistakes, one can actually get their farm sold quickly. It is not about getting the maximum profit rather, a good return on investment.

Visit us Selling a Farm or Ranch in Montana or call us now at 832-387-7816 for more information.

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