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The Waiting List: Patient Buyers Win

Author: Michael Wardlaw

June 6, 2018

As I’ve grown older and hopefully a little wiser, I don’t mind the waiting game.  My grandfather used to say, “If you are not willing to wait for something, you don’t really need it in the first place.” And while that statement might not apply to healthcare, it does apply to many of the material things we seek.

Now, if I want something, I don’t mind waiting to get it. I often find myself on the waiting list because I am looking for something specific and that requires waiting until it becomes available. Land is no different.

If you are considering a new hunting property, you too should be on the waiting list. Buying a great hunting tract does not happen on accident.  These prized tracts are often snatched up before the public ever becomes aware the property was for sale.

Case in point, we recently learned of a small tract of bottom ground that a family wished to sell.  As it turns out, it was exactly what an existing client was waiting for. This resulted in a contract being written before it was officially for sale.  Three weeks following closing, the neighbor stops by to see what was going on, only to learn he missed his chance.  He was rather upset that he did not get the opportunity to buy the property.  He had been waiting for a “For Sale” sign to appear along the road so he could scoop it up.  He never let his intentions be known and he did not get the opportunity to make the purchase.

Right now this is certainly the case in the Midwest.  We are in a seller’s market with many buyers standing in line to buy the right farm for their family.  Which means the buyers who have let it be known they are in the market will get a shot at farms that the general public never knows are for sale in many cases.

If you are serious about finding a piece of ground, now is the time to do your homework and find a rural real estate expert to work with who knows the market.  Sure, I would love to work with you, but this is not a pitch for me.  I want you to find a buyer’s agent to work with because when you find a good one, they will be able to help you find properties you would not otherwise know of.   The best part of working with an agent to buy a property is that it will cost you, the buyer, nothing in most cases.  The seller typically picks up the tab for 100 percent of the commission.

Before you make the call to an agent, know what you are looking for and where you are looking for it.  Have a reasonable geographic region in mind and a budget to go with it.  Once you are on the same page with your agent, sit back and wait. In the coming weeks new properties will come to market.  When the one you are looking for comes available your agent will make sure you get your shot at the property you are looking for.

If you would like guidance in this process, please feel free to reach out to me or my team by emailing Mwardlaw@trophypa.com or call / txt 314-914-0840.

Michael Wardlaw is a land sales specialist with Trophy Properties and Auction. Michael and partner, Joe Ogden, focus on selling farms and recreational properties throughout the Midwest. To learn more visit www.trophypa.com/.