Work in Farm Brokerage
Farm brokerage is a highly specialized area of real estate, and one that offers successful brokers a rewarding career. Because farms consist of real estate, assets, skilled labor, and clients, selling them requires more financing negotiations and practical knowledge of the agricultural business than brokering regular real estate deals. If you're considering working in farm brokerage, it's important to understand that this type of career requires not only a sound knowledge of real estate trends, but also of finances and business management. Read the steps below to learn how to work in farm brokerage. c
- Research all you can about the business of farm brokerage.
- One way to do this is to read the information on farm brokerage websites, but you can also go to a library to find books and trade magazines on the subject.
- Use information from your government's website to find out exactly which areas are doing well agriculturally, what products generate income, and general information about the size of farms and their revenues.
- Decide which area of farm brokerage you'd like to work in. Areas to consider are appraisals, trend analysis and projections, construction advice and assessment, financing, and sales and acquisition.
- Determine what type of certification you need for your career choice. For example, if you want to work in trend analysis and projections, you'll most likely need a bachelor's or comparable degree in business or economics, while for sales and acquisitions you'll need a real estate broker's license with additional licensing depending on your location.
- Research where you would like to work in farm brokerage. Though you can use your skills and business knowledge everywhere in your country, having a sound understanding of farm brokerage in a particular region and building a Rolodex of contacts often takes years. Choose a region in which to work that is convenient for you personally and offers significant business potential.
- Contact a number of farm brokerages and inquire about doing an internship there. The time you spend as an intern will allow you to see many different aspects of the industry and channel your skills into the area of expertise you enjoy most.
- Apply for a job in farm brokerage. Oftentimes, working in the same company as you did your internship is a viable option both for the intern and the company, but if there's no opening, look around for other farm brokerages.
- Stay abreast of developments and economic trends that affect the agricultural real estate market. These include natural disasters that affect the values and production of farms, alternative sources of energy or more eco-friendly production methods, as well as the market share of imported agricultural products.
- When you've found a region and area that interest you, become a specialist by educating yourself further, participating in seminars and conventions, and even writing articles on your area of expertise. This will enhance your reputation in the field.