|
After almost 40 years in
the auction business, Jim Folger is utilizing a new tool to
help his customers get the best price for their farm real
estate and equipment. It’s the joint web site of the two
Farm Credit Services associations in Illinois –
www.usfarmcredit.com. What’s more, as a member of the
Illinois State Auctioneer Association (ISAA), Folger can
list his auctions for free.
“I’ve been using the
service for almost two years,” reports Folger, owner of
Folger’s Auction Service, Williamsfield. “During the past
winter season, I posted at least a dozen sales on the site.”
He says the service has
become a valuable part of his advertising mix, which
includes traditional vehicles such as weekly newspapers and
direct mail. “More and more people are relying on the
Internet each year to locate property and equipment they’re
interested in,” Folger explains. “The FCS site even allows
me to include photos and is a great companion to my web
site.”
Benefits abound
The classified service is
one of the benefits stemming from an agreement, formed two
years ago, between ISAA and the two Farm Credit Services
associations to work more closely together. The
associations -- 1st Farm Credit Services (1st FCS),
headquartered in Normal, and the Farm Credit Services of
Illinois, based in Champaign -- are cooperatively owned
agricultural financial services organizations, serving more
than 15,000 clients in the state. In addition to those
15,000 clients, the web site is available to the general
public.
“We’re pleased to be
building a relationship with ISAA,” says Ed Anderson, vice
president in 1st FCS’ Monmouth office, where Folger places
his classified ads. “Most of our loan business is with
farm real estate, and
auctioneers are doing much of the selling. So it’s a
mutually beneficial situation for both of us.”
Anderson explains that
because the web site is not limited to FCS members, the
classifieds section could attract potential out-of-area
buyers and investors. “Local farmers, as well as investors
with 1031 exchanges not limited to a particular area, can
scan the listings to see what land auctions will be coming
up,” he says.
Ample lead time is
something Folger says his customers, as well as potential
buyers, appreciate. “As soon as my office completes a sale
bill and posts it on our site, it’s ready to go to FCS,” he
notes. “Potential buyers then have advanced knowledge about
available land or equipment.”
The classifieds include
general information about the date of the auction,
specifications about the property and equipment, and seller
contact information. Also included is a link to the
auctioneer’s individual web site and e-mail address to make
it easy for those interested in a particular ad to contact
the auctioneer directly, says John Leatherbury, 1st FCS
director of marketing.
How to place an ad
It’s easy for auctioneers
to place an ad. Simply go to the site at
www.usfarmcredit.com. Then click on “Classifieds” link at
the top or bottom of the page (or in the Quick Links
section). Before placing your first ad, you must register
with the site. Just click on the “New Registration” button
at the bottom of the Classifieds page. Once you register
and agree to the site’s terms and conditions statement, you
may return as often as you like to place an ad by clicking
on the “Seller Login” button at the bottom of the page. You
can even upload photos to accompany your ad.
Jamie Johnson, 1st FCS
client service representative in the Monmouth office, says
auctioneers don’t need to be Internet savvy to use the
service. For instance, when Folger has an auction to
advertise, he calls or e-mails Johnson to let her know. “I
go to his web site, pull off the appropriate sale bills and
input the information on our site,” Johnson explains. “I
also post the sale bills on our bulletin boards for farmers
who stop by our office.”
Johnson adds that most
auction ads will be placed in either the Real Estate or the
Farm Equipment category of the classifieds section. “We
have lots of clients who log on to check out the property
and equipment offered.”
Folger says placing ads on
the FCS web site has become a standard for his business. “I
just let Jamie know what’s coming up, and she handles the
rest,” he points out. “The entire 1st FCS staff is super to
work with.”
The more, the merrier
Folger, who reports that
he’s just finished one of his busiest farmland sales seasons
ever, says he’s surprised more ISAA members aren’t taking
advantage of the classifieds service. “It’s free
advertising,” says Folger, a past ISAA president. “It’s an
opportunity to sell a farm or get top dollar for their
clients.”
Anderson observes that the
more classifieds placed on the site, the better. “Potential
buyers will get used to coming to the site to check out what
farmland is coming up for auction,” he notes.
Folger acknowledges that
some clients have been skeptical about having him place
their ad on the FCS site, but they changed their mind when
he explained that it is truly free advertising and to their
advantage to do so.
Folger adds that there’s
also the possibility that people who visit the site will see
his name and keep his business in mind if they have land or
equipment to sell down the line. “The potential for future
references certainly is there,” he says.
A number of auctioneers
have reported they received inquiries through the FCS site,
inquiries they likely would not have received otherwise.
“It’s a useful tool that I can offer to my customers to help
them gain exposure to their property or equipment at no
additional charge,” summarizes Folger. |
