Getting Listings as a Raw Land Agent

Getting Listings as a Raw Land Agent

Real Estate Agent · MN · Member since 2024 · 11 posts · 5 votes

I am an agent who is new to the business. Just recently started at a land brokerage that specializes in agricultural land. I am running into a unique problem where I can find potential buyers of raw land and agriculture in particular but they will not sign a right to represent because they are sophisticated enough to purchase direct. "If you get a listing as a seller, feel free to text it to me." is a common phrase I hear. I will find out that they aren't kidding around because applications like propstream will show them as having $40 million or more in equity across many properties in more cases than you would believe. Cold calling has proven very effective at building a buyers list of high net worth individuals but nobody wants to sell anything. Its bizarre!!

What are good strategies to get listings as a seller agent for Raw Land? I am open to a lot but I want to make sure I am on the right track and do not light money on fire so to speak. So far I have focused on trying to get listings for active farms as turnkey sales but maybe vacant land is easier to get listings with as a seller agent?

I have met with other agents at my brokerage and they don't even do mail campaigns or anything like that because response rates for Agricultural Land are typically low according to them. They have gotten away with doing everything word of mouth which does not sound efficient to me.

I go back and forth between Minneapolis-St. Paul and Rochester, Minnesota but could do a larger area even across state lines into Iowa or Wisconsin if I needed to but I think I need to at least get one local listing first.

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Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
1y

Agri is not my expertise, but what you describe is very much like commercial works in Milwaukee. Most of the big stuff never gets listed online. In a way it is the most original form of brokerage, it's literally all about networking. You have to become the guy how is known for knowing deals.

I don't think mailers are a complete waste of time, especially if you have a defined audience, but I built my following online, particularly with a YouTube channel talking about Milwaukee Real Estate. It has evolved more into an economic news channel and people who call me have often followed it for years and there is no pitching necessary.

I would keep it within an hour radius, there should be enough business to go around. Maybe you can find out how many transactions per year and by how many agents. Its also critical to know all the other agents and exchange deals with them. We have started posting a buyer ISO list, so agents as well as sellers come to us with deals.

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  • Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
    1y

    Agri is not my expertise, but what you describe is very much like commercial works in Milwaukee. Most of the big stuff never gets listed online. In a way it is the most original form of brokerage, it's literally all about networking. You have to become the guy how is known for knowing deals.

    I don't think mailers are a complete waste of time, especially if you have a defined audience, but I built my following online, particularly with a YouTube channel talking about Milwaukee Real Estate. It has evolved more into an economic news channel and people who call me have often followed it for years and there is no pitching necessary.

    I would keep it within an hour radius, there should be enough business to go around. Maybe you can find out how many transactions per year and by how many agents. Its also critical to know all the other agents and exchange deals with them. We have started posting a buyer ISO list, so agents as well as sellers come to us with deals.

  • Real Estate Agent · MN · Member since 2024 · 11 posts · 5 votes
    1y

    1 hour radius? I did not see that coming. I was going to get reciprocity with Iowa and Wisconsin so I could have access to a larger market. Your saying to go deep in one area and not go broad in many?

    I have heard a range of opinions on mailers from "its the bread and butter of all my marketing" to "I tried it and got a response rate of 0.01% and its not worth the money". Rochester has a lot of vacant land that is zoned for agriculture but most likely will be developed into a neighborhood in the near future. Maybe they would be a good mailing list for potential sellers?

    This is good info. I appreciate the response.

  • Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
    1y

    I don't know your niche, but when you spread yourself over a large area meeting with one client for coffee becomes a full day engagement and 2 x 4 hours driving.. Most of my deals are within 20 min, but I follow my clients and will go up to an hour - that's maybe 10% of my deals.

    There are postcards and there are letters. Letters get more attention and people hold on to them for years until they need you. Repetition is key. Pick 1,000 addresses and mail them 4-6 times a year, maybe include a land-market update, agri-news etc. Don't expect many results in year one, it takes a while for people to get to know you.

  • Accountant · Virtual · Member since 2022 · 3 posts · 1 vote
    1y

    From Twin Cities as well. Am a Tax Advisor & farmer. Been trying to find farmland for the last 7 months but can't find any. Will love to connect if you open to it. 

  • Real Estate Broker · Minneapolis, MN · Member since 2011 · 5k+ posts · 6k+ votes
    1y

    @John Lewis your dead wrong when it comes to Ag listings. 

    It's ALL ABOUT who you know, being known, and word of mouth. BIG TIME. 

    I will be brutally honest; if your not a farm-kid yourself, you probably got better odd's of getting to the moon by lighting your fart's than you do of breaking in as a listing agent in Ag. 

    Farm-kid myself, I know. 

    Threshing show, auctions, cattle auctions, these are how you get involved in the community and rub elbows. From there, you will need to earn some respect because without that nobody worth a dang is going to put a drop of thought into what you have to say. 

    Most selling Ag are not doing it for happy reasons. It's something that requires an understanding and empathy. 

    The end of a generational legacy is all but never a happy time regardless of the dollar amounts it brings. If you don't get this...... You'll just never get it, it's a farm-thing. 

    In my experience most with large tracts of raw land are either farmers or East Coast funds of some sort. So we circle back to start or find a buyer who ok to buy at a premium. 

    Other then that you have the Amish and Bill Gates, both of which are heavy on buying and not doing any selling I've heard of. 

    And again, good luck getting Amish to deal with ya if your not a Farm-kid. And ideally speak some Dutch. Amish don't speak Dutch but it's a connecting language that shows respect and generally can muddle along until there comfortable enough to flip to English for you. 

    I suggest you ask yourself if this is a career or a job. If a career and your serious, call the seed reps, go to the local co-op, get involved in the community. Seek to learn and help. Share what you do but NEVER push it. Just try to learn and help. Go offer to help during calving season, everybody can always use some help during calving. Ask to bail hay, anything just get involved and you'll start building the word of mouth and business will come to you. 

    • Real Estate Agent · MN · Member since 2024 · 11 posts · 5 votes
      1y

      @James Hamling Just an update for you. I have 2 live listings and 2 properties off market right now. One of them is a 150 acre farm. Another is a 70 acre farm where I am working with the owner to get it rezoned, subdivided and sold as development property.

      I am doing all of this while maintaining my day job.

      If you have hard work and ingenuity you can get a lot done even starting from zero.

      Work hard and have an open mind!! There is potential in places most people would not even think to look in.

  • Real Estate Agent · MN · Member since 2024 · 11 posts · 5 votes
    1y

    I guess a good word to describe me is farmland adjacent. From what you are saying though its very binary. Your an Ag person or your not an Ag person. My family owns a farm in Wisconsin where we harvest maple syrup and honey. Its rented out to people who have horses but nothing hardcore like cattle or row crops. I spent 8 years in North Dakota and worked for a rural electric cooperative for 1 year. I currently as a day job work for a farmland machinery company as an embedded software engineer (display screens for the machines). I guess I need to stick my neck out there and get to know people on a more personal level.

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