Thinking About Moving West? Choosing a Ranch Broker Is a Good Place to Start
When you initially start looking at ranch properties, it will soon become apparent that it is not a simple process, and there are many things to look at. An experienced broker will be well aware of the ins-and-outs of the process and will be on hand from the beginning of the search all the way through to completion.
Therefore, choosing a ranch broker is one of the first things you need to consider, as they will be able to help you draw up a list of your requirements and then search for ranches that best meet your criteria and available budget. Take the time to meet a few brokers before you move forward, as this is going to be a long road, and you don’t want to waste any precious time.
What Is a Ranch Broker?
Ranch brokers specialize in the buying and selling of ranch properties for a wide range of clients. They may have a specific specialty or offer a broad range of services, but in all cases, they will have extensive knowledge of their chosen field and play a pivotal role in the sale.
For buyers, the broker will help you create search criteria and then search for available properties, providing a thorough evaluation and analysis of each option that they suggest for purchase. We will briefly go through the services you should be looking for from a ranch broker.
Reputation and Contacts
The ranching industry is a longstanding one and plays a crucial role in their respective communities. Therefore, you need to find a broker that has been in the game for a number of years. This is because they will have built a comprehensive list of contacts which enable them to find properties of which others might not be aware.
As we mentioned, ranching is built around community, so if you hear a lot of bad reviews about a particular broker, then there is likely some truth attached to it. The best advice is to meet with the brokers in person and see how you feel about them. Do they seem like they are trustworthy and knowledgeable? Do they give you realistic assessments or do they say yes to everything you say?
Range of Services
You need to know this up front, so there are no surprises later on in the process. Look for a ranch broker that offers a range of services starting from initial searches all the way through to after completion. Ideally, they will provide the following:
- Development of search criteria
- Access to exhaustive buyer resources, such as databases and local contacts
- Targeted buying strategies
- Due diligence – Evaluation of properties
- Reporting – Clear and accurate analysis of the properties
- Full assistance in closing the deal – legal, financial, and regulatory consulting (Keep in mind, a broker’s review does not replace consultation with your attorney. )
You can find out whether a broker offers these services on their websites or through specialized publication, but there is no harm in checking when you meet them.
When you meet the prospective brokers, they should lay out a plan of action on how to proceed with the search and future purchase. You need to have a clear picture of what is going to happen and when it is likely to happen. If you leave the office confused or uncertain of what is going to happen, then that broker might not be for you.
Specialized ranch brokers will be aware of the lay of the land and the sheer volume of work that goes into the due diligence process. They will also know about the intricacies of the sales process and the transferring of the deeds. General realtors might not have a full awareness, which causes problems later. So, make sure you feel confident in the broker before starting to work with them.