Are you considering selling your horse property in the beautiful state of Wisconsin? Whether you have five acres of land and two horses or hundreds of acres with a complete ranching business, you need to be smart and informed before you begin the process of listing, marketing, and negotiating a deal.
Selling your horse property presents different challenges than selling a traditional home. Not only are horse properties generally more expensive than other properties, but they also only appeal to niche buyers. Here’s more on the unique challenges of selling this type of property and how you can maximize your chances of success.
The need for an experienced real estate agent
Though it’s always important to work with a professional real estate agent when selling a home, it becomes vital when you’re selling a horse property. Not only do you need to choose a dedicated professional who stays on top of trends, technology, and the local market, but you also need to find one who has bought and sold horse properties similar to yours. Look for an agency like Land and Legacy Group that has a team of professionals who specialize in selling rural real estate in the state of Wisconsin. Their team members are experts in land valuation as well as all the rules, laws, and regulations that come with buying, selling, and owning rural real estate.
Know your ideal buyer
Before you can create a good listing and market your property, you need to know who your ideal buyer is. This is something your agent will be able to help you with, but it’s also something you should put some thought into. Are you selling a functioning ranch and looking for someone to take over the business as well as buy the property? Or do you just have space for a few horses that would appeal to a family who wants to get their kids outdoors and familiar with horses? Knowing if you’re selling a business vs. selling a home will help your agent market your home as well as identify connections they have who might be interested in your property.
Price it accurately
Pricing your property is vital. If you list it for too much, you will turn away potential buyers and may have to reduce the price–something that never looks good to potential buyers. Too low, and you risk losing money on your investment.
It can be difficult to accurately price a horse property as it likely has unique features and a niche buyer market. Again, this is where an experienced real estate company comes in. To accurately price your property, your agent will likely do an appraisal that looks at the local economy, the community in which your property is located, the actual location, the facility (including your home and any other structures on the land, including barns, sheds, arenas, etc.), how much land you own, and the sale of comparable properties in recent months.
Stage it
Staging is an important step in selling any home, but staging a horse property takes a little more time, effort, and thought. Not only do you need to stage the home by decluttering, depersonalizing, removing or rearranging furniture, and ensuring each room has a designated purpose, but you’ll also need to pay extra attention to the outdoor areas and facilities. This includes:
- Reviewing all buildings and making any necessary repairs.
- Fixing or replacing broken or old fencing.
- Washing all vehicles and equipment.
- Cleaning out stalls and changing out bedding.
- Removing any outdoor clutter.
- Repaint any buildings that look faded, worn, or old.
- Mowing grassy areas and leveling out paddocks.
- Create an appealing and detailed listing
The goal is to create a space that potential buyers will be able to use immediately. This will help them envision themselves living in the home and occupying the land, which increases the chances of them making an offer.
Create an appealing and comprehensive listing
Prospective buyers will learn more about your property online before they make an appointment to see it in person. If you don’t give them all the information they need and pique their interest with detailed professional photos, it’s likely they will lose interest and move on to a different property.
Aerial or drone photography is often a good option when it comes to photographing horse properties, especially if yours is expansive. Pair this with extensive, detailed photos of the home, buildings, and any equipment that will be included in the sale. If you don’t currently have horses on the property, consider borrowing some so they can appear in the photos.
In your listing, make sure to write detailed descriptions about the home, the facility, any buildings, and all equipment included in the sale. If yours is a working ranch, you may also want to include information on how you ran the business or other relevant details, keeping in mind that you will need to provide financial and other business information to a potential buyer.
Have a realistic timeline in mind
Because of their price and niche market, horse properties almost always take longer to sell than traditional homes. While homes in Lake Geneva, Wisconsin, sell after an average of 53 days on the market, horse properties can take several months (or more) to attract the right buyer. Knowing that this might be a long process will help curb frustration and prevent you from buying another property too soon and putting yourself in a financial bind.
Ready to sell your property?
Is selling your horse property now the right decision for you? If so, it’s time to reach out to the experienced team at Land and Legacy Group. Their experts can help you evaluate, price, and market your home so you can reach the right buyer. Reach out to them today to get all your questions answered and to find out the next steps.
