National Land Realty, a brokerage company specializing in farm, ranch, country estates, timber, recreational, and commercial development properties, has launched an auction division, the most recent addition to the company’s portfolio of services.
Through auctions, National Land Realty presents clients with an even more comprehensive list of choices for buying and selling land, facilitating quick closings on the sale of property and optimizing returns that may be beyond market value, the company said.
Previously only common in regions like the Midwest, auctions are now spreading nationally, a shift driven partly by the limited availability of prime land. As demand continues to outpace supply, auctions continue to be an efficient way to get sellers’ land on the market and sold quickly. This, combined with the high returns that auction platforms offer, has contributed to their increased national popularity, particularly among the sectors of recreational, timber, ranch, and farm properties.
“Our new Auctions Division marries two fundamental benefits for our clients: the potential for optimal returns and the promise of rapid transactions,” said Ronnie Richardson, CEO of National Land Realty. “Sellers across the nation have very individual needs and desires, and the auctions are yet another tool our agents now have available to tailor their services to those specific needs.”
One significant advantage of the auction method is the potential for higher returns for sellers. The competitive atmosphere of auctions can lead to bid values that can exceed market averages. Within the framework of National Land Realty’s Auctions Division, sellers can predetermine a minimum bid for their properties. If bids surpass this minimum, the sale proceeds confidently. Should bids fall short, sellers maintain the discretion to entertain offers beneath the threshold of the original asking price. This allows sellers to see the full potential of their property’s value.
In addition, the timeline for auctions is generally three months from start to close, as opposed to the five to six months it can take to sell the property through more standard routes.