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Rural update

The rural sales team at Bayleys Canterbury is celebrating the recent success of our colleague Adam Whitelock who won the Rural Salesperson of the Year Rising Star accolade at the recent Real Estate Institute of New Zealand Awards for Excellence.

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In addition to Adam’s outstanding achievement, on a national level Bayleys also won the Individual Rural Salesperson of the Year accoladed though our colleague Mike Fraser-Jones working out of Hamilton, and the Overall Rural Salesperson of the Year title going to Karl Davis from Bayleys Hamilton. This is the 10tth year in a row that Bayleys has taken out the top rural salesperson title at the REINZ Awards.

Operating out of our Central Christchurch office, Adam is one of the team’s recent recruits who has quickly embraced the ‘Bayleys Way’ of doing things…. and getting the best results possible for our vendors in the process.

Adam has been quick to learn that the proven pathway for running a successful marketing campaign to ultimately underpin a farm sale begins very early on in process, and involves the Bayleys Canterbury rural sales team tabling our decades of experience derived from hundreds of scenarios – often openly sharing our knowledge with vendors who may be highly experienced in running a farming operation, but who are new to the nuances of what is involved with selling their valuable real estate asset in an efficient, stress free and timely fashion.

Essentially, and to coin a cliché, Adam understands, as do all of the Bayleys rural sales team, that it’s all about “getting our (and our vendor’s) ducks in a row.” The rural sales teams at Bayleys Canterbury are sought after for advice and input on selling farms in the province on an almost daily basis. After all, it’s a farm owner/operator’s job to get the best production levels possible out of their real estate asset. And it’s our job to get the best price possible within the most agreeable timeframe and process, for our vendors when they decide to sell. With this in mind, the Bayleys Canterbury rural sales team is happy to share the common dialogues and discussions we hold with vendors – both in preparation for taking a property to market, and throughout the actual sale process. Before we even look at publicly marketing a productive rural real estate asset, the team at Bayleys Canterbury sit down with our vendor and work through an extensive checklist of all the information and documentation which we as salespeople will need to compile for what is known as an information memorandum – a detailed document profiling and outlining all of the initial questions a potential purchaser may have about the property.

On reading the information memorandum, a potential purchaser may then continue down the path of visiting the location to get a firsthand perspective of what’s on offer, and whether it meets their needs and demands.

  Full and accurate farm records needed for an information memorandum, or subsequent due diligence, should include: 

  • Title deeds to the property - confirming the vendor’s ownership status
  • Stocking rates and holding capacity
  • Any existing supply agreements - including sharemilker arrangements
  • Water extraction and storage consents – from bores, streams, and rivers through to dams
  • Waste effluent disposal consents
  • A full inventory of machinery and equipment
  • Building records – showing construction methodologies and consequent consenting approvals with codes of compliance
  • Weather data – including sunshine hours, average temperatures, and average rainfall levels
  • Contour mapping and a breakdown of soil, feed, cropping, and grass types
  • Production history
  • Employment contracts with all farm employees – including residential details
  • Building maintenance and improvements notations
  • The full history of feed and fertiliser inputs – including volumes and dates
  • An in-depth chattels list which should be comprehensive in its description of what items are included
  • The apportioning of any trees under either The Emissions Trading Scheme (ETS), or The Queen Elizabeth II National Trust
  • ‘Open books’ on ancillary business expenses.

   

To realise the best possible price for the farm asset requires a strong relationship between the sales team and the vendor – and from the level and detail of information required, time and preparation is certainly the key to success. The provision to a potential buyer of every possible piece of information they and their accounting/banking advisory team may need to establish or verify a valuation level on which to make an offer, creates a smooth pathway for determining if this is a sound business decision by their reckoning. Buyers will have the confidence to offer their best price when a property is marketed with full and accurate documentation. The Bayleys Canterbury rural sales team prides themselves in being experts partners in all that they do – this expertise coupled with their award winning sales success, means the sale of your farm business is in sound hands. If you are considering the sale of your rural property, contact one of the Bayleys Canterbury rural sales team today to ensure you receive the best advice possible to begin the process.

Contact us

Office Hours
Office hours: 8.30am-5.30pm, Monday - Friday
Contact Phone
0800 BAYLEYS
Contact Email
enquiries@bayleys.co.nz
Location
Bayleys House, 30 Gaunt Street, Auckland Central 1010