I never thought I’d be in this boat, but my husband and I are considering downsizing after nearly a decade of assembling our perfect-to-us farmette. A quick search has not turned up any equine property specialists in our area (Delmarva Peninsula), and I think due to the size, layout and features of our property, our best bet is to market it towards other equine enthusiasts. Any suggestions on how best to do that?
where are you located - check out the Equiery as there are realtors specializing in equine properties who advertise there. That’s where I’d start. While the Equiery is pretty much Maryland based, some of the realtors might have licenses in other states.
really might want to have an appraisal done as just what would be more marketable rather focusing on a specific narrow use
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clanter is exactly right. Your beautiful horse farm might also be a great dog training and boarding kennel, a classic car enthusiast’s giant garage, or an Alpaca farm, or someone’s hobby farm with no animals. Don’t limit your buying pool to just horse owners. Include current zoning information also in a packet with other utility, and significant information that the buyers will need to know about.
We’re working on getting an appraisal now but comps are hard to find. Apparently there are not many 5 acre farmettes with a 70x140 indoor riding arena :lol:
I understand not pigeon-holing it as an equestrian property, but I do think that the primary appeal will be to fellow equestrians. I have found one horse property site but it’s not really easily searchable and I’m not sure how much traffic it generates. I’ll also look into other hobby farm listing sites. It would be great to find a realtor who would take care of all of that but I have a feeling that we will have to take it upon ourselves to list it on the specialty sites. The realtors we have spoken to so far are very good at networking, but only locally. Our buyer may be elsewhere, and I just need to figure out what sites they will be searching so our property can get the exposure.
comps for unique properties are nearly unobtainable
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This. We have had 4 full price offers over the years, but they cannot get financing because comps are impossible to get. They would have to put a significant amount down to get bank approval.
For financing two words: County Agent. .
There are multiple sources including Farm Credit, ag. lending co-ops, credit unions, and specialty lenders. But start with your county agent.
G.
I’ll buy it!!! I wish.
You don’t need an equestrian specialist, any realtor who is good at correctly pricing the property will do. Be careful with the appraisal, most appraisers will mess up a farm because there are very very few comps. They do not care if you have expensive 4 board fencing or a wash stall or uber expensive rubber felt from outer space footing in your indoor.
So you really just need LOTS and LOTS of pretty pictures and get that thing on the MLS and into the Equiery. Buyers are savvy and will be searching online.
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As far as comps, real estate agents are going to look at properties in you immediate area and work with that. If there are no equestrian properties that have sold you may find your property may not appraise with all of your horse facilities in the comps. Same will hold true when the buyers lender does an appraisal, horse facilities don’t necessarily add value. Finding the right buyer is one piece of the puzzle, getting the financing is another. We recently sold our dream horse property to downsize and be closer to family. The buyers got a beautiful custom barn and fencing for just about free because it didn’t help add value for our area, Updating the house did. It was an expensive lesson for us and we had to pay for a barn and fencing on our new property. I’m sure you are in a more horsey area so will have better luck.
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Appraisal first. Then, FSBO advertised here on CoTH. 
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this is why our barn was build clear span and used knockdown prefab stalls… the stalls and mats are furniture as nothing is attached to the building… if we were to move we could take the stalls and mats with us saving thousands of dollars.
But secondly… the “barn” is worth twice as much as a “garage” or special use building Which Can Easily Be Appraised
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Interview successful realtors from several local firms. Ask about horse properties that they have sold recently. Ask about their ties to the horse community. We sold our 5 acre suburban farmette last fall. The older woman who marketed it knows everyone in the real estate community as well as people in every equestrian discipline. The weekend that it hit the market, we had a full price offer plus 2 horsey families who asked to be called if that offer fell through. Similar properties in our neighborhood took months to sell. Our realtor had a terrific photographer and she made sure that a lot of realtors saw the photos. Our property was her only listing that month. You need a successful realtor who will put lots of time into your property.
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AKB, I do think getting the right realtor is key. There are several local realtors who are really good at networking locally, but I have a feeling our target market may not be local. Delaware is a great place live. Very low property taxes, no sales tax, and our farm happens to be located halfway between Delaware beaches and the Chesapeake Bay. We still get extreme weather (cold winters and hot summers) but overall I’d say it’s an ideal horse climate. There’s a lot to like. I don’t necessarily think it will be a tough sell, I just think we need to get the right eyes on it.
The indoor could certainly be repurposed. I have 2 friends who race cars as a hobby who say that they would love to have such a big “garage” to store all their equipment and trailers. They’d have to pour a concrete floor though which would be expensive. I opted for oversized (14 or 16’…I can’t remember offhand) power garage doors on each end because I hate how those heavy sliding doors always seem to flap in the wind and eventually go off track. We also installed an insulated ceiling (I hate bird droppings!) and there are 3 rows of the t-11 lights. You could do surgery in there it’s so bright. So it’s definitely not your typical indoor riding arena. We also have white vinyl fencing that is beautiful (and was very expensive!!) but if someone isn’t interested in keeping animals here they definitely wouldn’t see the value in that. Those are the main reasons I feel it is best marketed as an equine property. But you guys are all correct, in order to get the right buyer we need to market it to equine enthusiasts, car guys, emu farmers…everyone.
The good news is that we aren’t in a big hurry.
I have some friends that are hideously allergic to animal dander. So if you have a property for sale, and have cats or dogs, please list that on the description. My one friend almost died because a condo had formerly had multiple cats in it, never had the rugs cleaned, and the owner (the owner was a realtor, and had been renting it out, and now wanted to sell) thought allergies were all imaginary.
If you need a good agent, please pm me… I might have some contacts. Also, your property will be listed in the MLS probably and will then be sent to Zillow, realtor.com, etc… you will have national exposure for anyone looking. And of course the agent could advertise in MD Equestrian VA Equestrian, some of the horse sites that advertise like Horse Clicks or Land and Farm etc…
I would not exclude it from anyone though… especially not dog people. might make a great agility venue.
I’d consider putting a little post in your local Facebook horse group. Many people in my area’s horse Facebook group often advertise horse properties (including realtors) and quite a few people show interest and ask for more information.
