Auctions an option for landowners
PANAMA — When it comes time for farmers and landowners to sell off all or a portion of their land there are different options, including private sale or a land auction.
Schaben Real Estate recently helped the Schwery Family LLC sell two tracts of land at St. Mary’s Parish Hall in Panama.
As the crowd gathered, information about the available land played in a slide show on a big screen — providing information including the number of acres, the location, a physical description, legal description, soil types, as well as taxable acres.
Five out of the seven family members were there in person and two were out of town, but kept apprised of the auction as it proceeded.
Jay Schaben, broker and co-owner of Schaben Real Estate LLC, said the farm sold well, with Tract 1 going for $13,500 and tract 2 going for $11,850.
Be it land or selling cattle for a rancher, Schaben said their job is the same.
“There’s really no difference in it. We are here to get the highest dollar we possibly can for the people,” he said. “You’re there to get the most money, period. Auctions all work the same way.”
Co-owner Jim Schaben Jr. said with the auction there is true price discovery. What people are doing is auctioning off a precious commodity. Jim said putting a for sale sign on it narrows the focus.
“Advertising it for auction invites everyone to participate, not just one person or two people,” Jim said. “It’s by far the best way to sell a piece of real estate.”