This is a simple question with a complicated answer. What kind of auction format should I use? Are the market conditions right for an auction? Who should I have conduct the auction? These are all questions that are raised when considering selling your land via auction. At NextAg we guide you through this decision process and custom tailor our approach to you and your property’s needs.
What kind of auction format should I use?
There are many ways to conduct an auction from a traditional auction setting to a more modern approach with Online Only Auctions. Let’s highlight a few options that we offer at NextAg and how they could pertain to your situation.
Simulcast Auction/Live Auction – A modern twist on the traditional auction setting, the simulcast/live auction method combines the traditional in-person auction with the online-only approach. The simulcast allows you to have an in-person auction where patrons can come in-person and bid while also allowing your bidders the chance to bid anonymously via our online bidding platform.
Online-Only Auction – A simple, effective auction format that allows total anonymity for the bidders through our online bidding software. This auction method allows anyone from anywhere in the world with internet access to bid on your property. This method is usually timed and ends after all bidding has ceased for a set amount of time.
Sealed Bid Auction – The sealed bid auction can be a very useful tool in the right situation. This method is a slower paced auction environment where bidders submit their bids on a standard bid sheet to us, here at NextAg. There is usually a deadline to submit bids and then we sit down with the sellers and either select a winning bid or we can invite back the top bidders to perform a small exclusive mini-auction of the top sealed bids. This method allows the sellers a comfortable, slower timeline to make their decision.
Are the market conditions right for an auction?
Market conditions for agricultural land right now are strong. Higher commodity prices and unstable stock market conditions have driven up farmland prices in the Midwest. The ability to buy land in an instant via online auctions, etc. has also played a part in higher land sales. Auctions in the current market conditions allow for fast, efficient sale times resulting in top market values.
Who should I have conduct my auction?
The NextAg advantage, when it comes to selling your property, is that we know how important this transaction is because we are landowners, as well. We are a family-owned and operated business with the owner himself raised on a multi-generational Nebraska farm where hard work and doing the right thing is the standard. Your farm and the generations of hard work and sacrifice do not go unnoticed when we are working with you and your family during this process. Our goal is to be honest, transparent, and strive to get you the best results for the sale of your farm.
How do we get the best results?
- Instant contact with thousands of landowners around your property with up-to-date mailing lists
- State of the art bidding software
- Efficient and effective marketing techniques
- Local knowledge of the area
Still have more questions or maybe you are ready to get started? Please reach out today! We are happy to answer any questions you may have and discuss your specific needs. You can also visit our website at, https://nextagrealestate.com/ or call us at, 402-540-0053.
