renting land through a realtor?

dmiller · Apr 14, 2014

Anyone ever rented land that was for sale through a realtor?
Small piece that might work for me that is currently for sale. Can't afford to buy but was thinking of calling the realtor to see about renting it for a season? I know there's a risk of it getting sold out from under you. Anyone done this before and have any suggestions?

rrlund · Apr 14, 2014

I wouldn't think a realtor would have the authority to rent out somebody else's land. Wouldn't that be like him or her,renting out a house that they had listed?

dmiller · Apr 14, 2014

You set up a contract with the landowner and get it in the buy sell agreement that the new owner (if bought while farming it) has to let you get in to finish the farming for the leased year.
The realtor is just how you contact the selling landowner.

redforlife · Apr 14, 2014

ya, you need to have an agreement with the seller, not the realitor. You might want a such deal aggrement in writing/on paper. Normally in a situation like this, the realitor will continue to try to sell, but will have in the land selling contract that the buyer does not take possesion of property untill after your lease has expired. In some cases in my area, they have sold property where the ex/tenant had rights to the winter wheat crop or such. They took care of it all by having it in the contract that the new owner would sign upon closing.

Animal · Apr 14, 2014

That is done quite a bit around here, the realator is just a go between.

Anonymous-0 · Apr 14, 2014

don't talk to the realtor, they'll try to talk the owner of out it - prospective buyers may not like the arrangement.

hayray · Apr 16, 2014

dido on that. I always by-pass the realtor. Go to township and find tax records and address of owner and go that route.

dmiller · Apr 17, 2014

I think I just learned that lesson. Small piece right next to where I already cut some hay. People that know told me to stay out of it due to family being hard to work with/unreliable. Patriarch passed on and now it is listed, thought I'd talk to the realtor with hopes that it would be a more solid deal than direct with the family. Was told "I'll talk to the family tomorrow", and haven't heard back.

Seth_ia · Apr 18, 2014

When a realitor rents out land they are refered as a farm manager. In most states farm managers are actually required to be licenced realtors. This arangement is very common in areas that surround large metropolitan areas. Urban people invest in farm land and hire Farm Managers to find an opperator. These are usually either custom farmed or cash lease. The farm manager gets between 3% and 7% of the value of the lease tyipically. In a custom farming arrangement they get the that same percentage range of the GROSS value of the crop.

There is a saying: An honest farm manager is like unicorns and big foot...they say they exist but no one has ever seen one!

hayray · Apr 20, 2014

I have had decent luck dealing with commercial land realtors as they often see agriculture on the land as cleaning it up but residential type ones never get back with you.

renting land through a realtor?

dmiller

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dmiller

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