How Long Does It Take to Plan an Auction?

Nick Hopp

Iowa Land Specialist

If you’re looking to sell land in Iowa, Wisconsin, Minnesota, or anywhere across the Midwest, an auction can be the best option. However, a successful land auction requires careful planning. Understanding the essential steps in the planning process can make all the difference between a successful auction and a lackluster sale.

When Should My Land Auction Take Place?

In the past, most land sales in the Midwest occurred in the 4th quarter, after the harvest. However, in recent years, we’ve seen successful land auctions held every month of the year. While the time of year is not as critical as you might think, it’s essential to align the auction with your family’s goals and timeline. With the right planning, you can successfully sell land any time of year.

Can You Sell Land with a Tenant in Place?

Yes, you can sell land even if there is a tenant currently leasing the property. Many landowners believe that they can’t sell if a tenant is operating the land, but this is a misconception. While tenant rights must be respected and rental agreements must be upheld, you can still sell land with a tenant in place.

In fact, this can be an advantage for potential buyers. A stable tenant with a known income stream can help buyers evaluate the property’s investment potential.

How Far in Advance Should I Schedule My Auction?

Typically, we schedule land auctions about 3 months in advance of the sale date. For fall auctions, it’s common to start planning in the spring. The key to a successful auction is ensuring there’s enough time for proper marketing. A longer planning period allows us to market the land effectively and ensure the property gets the exposure it deserves. For fall auctions, it’s ideal to document the growing season before launching marketing efforts.

In short, the more time we have, the better. Sellers who plan ahead often see better results. Additionally, having adequate time allows us to gather all necessary information upfront. When everything is ready, we can avoid last-minute questions during the marketing phase, which can lead to a smoother sale.

Where Do I Start?

The first step in planning an auction is to assess your current situation and goals as a seller. Once we understand your objectives, we can determine the best time of year to conduct the auction. From there, we will coordinate the marketing efforts. If you’re even considering selling land through an auction, I recommend reaching out as soon as possible. Some of my best sales have been planned up to a year in advance, but I’ve also successfully conducted auctions in as little as 30 days.

Do you want to learn more?

Are you questioning if you need a land manager? Reach out to a local High Point Land Company agent. For more questions regarding land real estate, visit our YouTube Knowledge Center!

With seven years of full-time experience as a land specialist in Iowa and South Dakota, Nick Hopp has distinguished himself as a leading expert in the field. Nick has successfully facilitated the sale of thousands of acres, setting numerous township and county records through his adept use of proven auction and real estate strategies. If you are interested in selling your farmland, call Nick at 319-240-6121 or email him at nick@highpointlandcompany.com.