How long does it take to Market a Property?
The length of time it takes to sell any Property, farm, ranch or otherwise will vary. Following are the six most common factors that influence the time it takes to sell your property.
Every Buyer makes their decision about which property to buy and how much it is worth by their other options at the time they buy. The supply of other choices the buyer will compare with your property is constantly changing each week and month. The current competition always affects the Buyer's opinion of your farm property and what they think it is worth.So, the question is: What will the Buyer's other options be at the time they are shown your land?
If the property has not sold after a reasonable length of time, but other similar properties have sold, then the price may need to be reduced. If this is true and the price is not reduced, a sale may be delayed or prevented.
If the property should show poorly or have major defects which cannot be, or are not corrected, a sale may not occur until the defects are corrected or the price is adjusted to compensate for them.
The current cost of mortgage financing plays an important role in affordability to most prospective buyers. If these costs are too high, then the financing may cause a delay or prevent the sale.
Timing is the condition of the real estate market at the time of the sale. Supply and demand are the factors influencing whether it is a Seller's or Buyer's market. Neither the seller nor the listing brokerage can change the market condition at the time the property is for sale. It must be accepted for what it is.
Marketing techniques are constantly being tested and updated for the best results. But, even expert marketing has limitations because marketing cannot overcome any of the first five factors if they are out of balance and remain uncorrected. As Market Conditions change we will supply you with updated information which will help you determine the marketability of your property.