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Selling a farm or agricultural property is very different from selling a traditional residential home. A working farm can include valuable acreage, timber, agricultural improvements, livestock facilities, homes, outbuildings, equipment, road frontage, leases and other assets that all need to be considered when determining the property's overall value and marketing strategy.
For landowners considering selling agricultural property in Duplin County, North Carolina, understanding the process before putting the property on the market can make a significant difference.
At United Country Real Estate | Draughon Realty, we specialize in farms, agricultural land, livestock properties, timberland, hunting properties and rural real estate throughout Duplin County and Southeastern North Carolina. With decades of experience in local real estate and property appraisal, our team understands the unique factors that influence agricultural property values and sales.
Why Duplin County Is an Important Agricultural Market
Duplin County is deeply connected to agriculture. According to USDA agricultural statistics, the county had 949 farms and approximately 254,164 acres of land in farms based on the 2022 Census of Agriculture. The county also has significant row-crop and livestock production, including corn, soybeans and poultry.
That agricultural foundation creates demand for a wide variety of properties, from smaller tracts of farmland to large-scale commercial farming operations.
For sellers, however, the agricultural nature of the property also means that simply comparing it to nearby residential land may not provide an accurate picture of its potential market value.
1. Determine What Your Agricultural Property Is Worth
One of the first steps in selling a farm is determining its market value.
Agricultural property can be difficult to value because no two farms are exactly alike. Factors that may affect value include:
- Total acreage
- Tillable or cleared acreage
- Timber acreage
- Soil quality
- Existing crops or agricultural use
- Livestock facilities
- Poultry or hog infrastructure
- Irrigation systems
- Water availability
- Road frontage
- Farm access
- Homes and other improvements
- Barns, shops and outbuildings
- Farm leases
- Development potential
- Timber value
- Location and surrounding land uses
A professional agricultural property valuation can help establish a realistic asking price and provide a stronger foundation for marketing and negotiations.
Draughon Realty has more than four decades of experience in Southeastern North Carolina real estate, along with extensive appraisal experience involving complex properties such as livestock farms and other agricultural assets.
2. Understand the Difference Between Tax Value and Market Value
Property owners should also understand that a county tax assessment is not necessarily the same as the property's current market value.
Duplin County's Tax Administration is responsible for assessing real property for taxation purposes, while market value reflects what a property could reasonably sell for in the current marketplace.
When preparing to sell agricultural land, a seller should consider current comparable sales, property characteristics, income potential and the property's highest and best use rather than relying solely on the tax-assessed value.
3. Identify Everything Included in the Sale
Before listing a farm for sale, determine exactly what the buyer will be purchasing.
For agricultural properties, the sale may involve much more than acreage.
Depending on the property, the transaction could include:
- Farmland
- Pasture
- Timberland
- Farmhouses
- Tenant homes
- Barns
- Shops
- Grain storage
- Irrigation equipment
- Livestock facilities
- Poultry houses
- Hog facilities
- Fencing
- Farm roads
- Wells and water systems
- Other permanent improvements
Personal property and equipment may be handled separately, so sellers should work with their real estate professional to clearly define what is and is not included.
4. Review Leases, Contracts and Farm Agreements
Agricultural properties can have existing agreements that affect the sale.
Before listing the property, gather copies of any applicable:
- Farm leases
- Timber agreements
- Hunting leases
- Livestock agreements
- Poultry or hog contracts
- Equipment leases
- Easements
- Conservation agreements
- Solar or renewable-energy agreements
- Other income-producing contracts
These agreements can be important to prospective buyers and may affect how the property is marketed and valued.
For specialized agricultural property, understanding the operation and the agreements attached to it can be just as important as understanding the acreage itself.
5. Review Property Boundaries and Access
Large rural properties often involve multiple parcels, shared driveways, easements, rights-of-way and varying road frontage.
Before marketing the property, sellers should make sure they understand the property's legal description, parcel configuration and access.
Duplin County maintains GIS and land-record information containing parcel boundaries, acreage, road names, rights-of-way and other property information. However, county GIS information should be verified against recorded documents and, when necessary, by a qualified land surveyor.
This is particularly important when selling large farms or properties assembled from multiple tracts.
6. Consider the Property's Highest and Best Use
A farm may have value beyond its current agricultural operation.
Depending on location and characteristics, agricultural land could potentially have additional uses such as:
- Continued farming
- Timber investment
- Recreational or hunting use
- Residential development
- Commercial development
- Renewable energy
- Additional agricultural improvements
That does not mean every property is suitable for development or alternative uses. Zoning, utilities, access, environmental considerations and local regulations all need to be evaluated.
The goal is to understand the property's potential so the marketing strategy reaches the buyers most likely to recognize its value.
7. Prepare the Property for Marketing
Agricultural buyers want to understand what they're buying.
Strong marketing should showcase the property's most important characteristics, including acreage, farmland, timber, improvements, water features, road frontage, facilities and location.
Depending on the property, effective marketing may include:
- Professional photography
- Aerial photography
- Drone imagery
- Detailed property maps
- Acreage breakdowns
- Soil and land-use information
- Information about improvements
- Facility details
- Road frontage information
- Property history
- Farm income information when appropriate
Draughon Realty specializes in marketing rural properties throughout Southeastern North Carolina and can leverage both local expertise and the broader United Country network to reach potential buyers beyond the immediate area.
8. Find the Right Buyer
The ideal buyer for agricultural property may not be the same person looking for a traditional home.
Potential buyers could include:
- Farmers expanding their operations
- Agricultural investors
- Livestock operators
- Timber investors
- Recreational land buyers
- Developers
- Neighboring landowners
- Investors looking for income-producing property
- Buyers seeking a rural homestead
This is one reason specialized agricultural real estate marketing matters. The right marketing strategy should put the property in front of buyers who understand its value and potential.
Why Work With Draughon Realty to Sell a Farm in Duplin County?
Selling agricultural property requires an understanding of both real estate and the land itself.
United Country Real Estate | Draughon Realty is based in Kenansville and serves Duplin County and surrounding communities, including Kenansville, Mount Olive, Warsaw, Beulaville, Magnolia, Rose Hill and Wallace. The company specializes in livestock and row-crop farms, country homes, hunting properties, commercial properties and land throughout Southeastern North Carolina.
The Draughon team brings decades of experience in rural real estate and property appraisal, including experience with complex agricultural properties and livestock facilities.
Whether you're considering selling a working farm, agricultural acreage, timberland, a livestock operation or another specialized rural property, having an experienced local team can help you understand your property's market position and develop an effective plan for reaching qualified buyers.
Ready to Sell Your Agricultural Property in Duplin County?
Selling a farm is a major decision, and preparation is one of the most important parts of the process.
Before placing your property on the market, take time to understand its value, gather important property information, review leases and agreements, identify improvements and determine how the property should be positioned for today's buyers.
If you're considering selling a farm or agricultural property in Duplin County or throughout Southeastern North Carolina, United Country Real Estate | Draughon Realty can help you evaluate your options and develop a marketing strategy tailored to your property.
Contact Draughon Realty to discuss your agricultural property and learn more about selling farms, land and rural real estate in Duplin County, NC.