Written by Harry Morshead, Rural Chartered Surveyor
As rural advisors, we consider our local knowledge and practical advice to be the most important factors behind the provision of quality advice for clients. Hence our recent expansion into North Yorkshire and Southern Scotland was carefully planned to retain local contacts.
The rural team of Stanton Mortimer have remained in situ in Yorkshire with additional support from James Thompson, an existing member of YoungsRPS who is Yorkshire born and bred, a practising farmer and a farmer’s son. In Scotland, the new Dumfriesshire office is headed by Director Tom Oates, another farmer’s son who is originally from the Borders assisted by Mike Halliday who also farms near Thornhill.
The value of first-hand, local knowledge throughout our professional services cannot be underestimated, but is particularly invaluable when it comes to farm sales and purchases. When valuing land and property; there can be no ‘one size fits all’ approach or even ‘one size fits a few’.
While some aspects - such as access and appearance - are relatively easy to assess and land type and classification can be readily researched, it is the subtle factors that make all the difference in achieving a successful sale and of course client satisfaction.
Data on comparable properties recently sold and good market analysis is crucial when setting a realistic guide price. Of particular importance is knowledge of the individual nature of previous local transactions and who is currently in the market to purchase farms. With our ear always to the ground, we have unrivalled skills in assessing local values and market trends.
Current farming practices can both add or detract from the value of a farm. The skill is in being able to answer the question “what is this land/farm really capable of in its truest form?” This allows us to identify potential where others might not - useful ammunition when negotiating with purchasers and setting realistic guide prices.
Some vendors are inevitably attracted by the high profile of a national agent but what these firms cannot necessarily offer is this unique local expertise which can really add value. The immediacy of social media and internet portals should ensure that any well-marketed property will reach its audience without a national brand behind the sale. An office within the immediate locality and enquires handled by knowledgeable staff who have seen and know a property, is of greater value.
Over the next few months YoungsRPS is set to launch a variety of properties to the market and is already handling a number of private transactions.
We recognise that the sale of your farm is probably a once in a lifetime event. For us all sales are unique and treated as such.
For further information or to review the options for your property, contact your local YoungsRPS office.
18 Shakespeare St
Newcastle Upon Tyne
80-81 High St
50 Front Street
114 Drumlanrig Street