Sell your farm for the best price with top tips from the experts

Today we bring you some of the best tips from the experts on how to best go about it.

Many farm families have multiple generations of blood, sweat and tears locked up in their land, they don't want to let it go cheaply.

Whether its a friendly yarn with a neighbour, or entrusting the sale to the agent who sells your stock, even with record prices on offer there's no guarantee you can wring ever dollar out of the soil unless you've done your homework.

The most important tip, according to agents, is to plan well ahead.

That could be a year or more.

Reacting to a single poor season by cashing in some paddocks won't produce the best result.

Seek advice from the professionals..

Choose the right sale method - auction, expressions of interest, private sale and most importantly, when best to sell.

Most landowners would have an idea of just how much their property is worth but if not, ask for advice.

Assemble your team.

Your accountant, lawyer, financial advisor and real estate agent.

Understand why you're selling and communicate with all relevant stakeholders, including titleholders, beneficiaries, mentors, and advisors.

You will likely need advice on tax implications.

Once you have that sorted, planning ahead gives you time to get the farm in shape.

Agents agree it is important to make a positive first impression to buyers.

"Continue to manage your property as if you will still be farming long term and don't be tempted to cut corners or lose interest in crop rotations, fertiliser applications, repairs and maintenance," advised Elders senior real estate agent in Western Australia, Simon Cheetham.

Mr Cheetham said buyers take a lot of notice of farm management and generally the best managed farms command a premium sale price.

You love the place, but not everyone will see it through your eyes. Ask your agent for advice.

Agents say even the little things like getting rid of any weeds at the front gate, or painting the mailbox can be important.

Prioritise tasks like tidying up, removing rubbish, fixing fences, and ensuring gates swing smoothly.

Tidy up in and around the sheds, the yard, the house garden even.

Use the time you have put aside to best advantage.

Many agents mentioned the internal farm gates as being a priority when the agent or yourself are taking a possible buyer around for an inspection.

Fix things which need to be fixed, temporary fixes will stand out.

The landowner will need to balance the cost and time it will take for bigger jobs, but they will need to be balanced with the potential sale price.

Agents also say some farmers neglect their home while busying themselves getting the farm in shape.

Cleaning, de-cluttering, a few tins of paint can have an impact even though the house may be less important to buyers.

A clean and modern homestead can still add value, they say.

Provide comprehensive information to buyers, including records, maps, and pictures, to instill confidence in the property.

The agents said even with farms in hot demand like at present it was important not to underestimate the need for thorough preparation when selling your farm.

"While demand is high, assuming that properties will sell themselves can lead to wasted time and financial losses," Ray White Rural SA principal Daniel Schell said.

"With demand outstripping supply in 2023, it's an opportune time to sell, but it's wise to adhere to the sage words of Benjamin Franklin; 'failing to plan is planning to fail'," he said.

Farms should be presented so that first and last impressions are lasting, Elders Real Estate's NSW manager Richard Gemmell advised.

"Campaign timing should align with optimal production period, crops, pasture and stock at its seasonal best."