STEPHENVILLE, Texas, July 23, 2019 /PRNewswire/ -- Once part of the famous 6666 Ranch in King County, Texas, the Flattop Ranch is going to auction on Aug. 10. The auctioneers, Alliance Auction and Realty, boast the Flattop as a hunter's paradise, the historic ranch offers 250-foot elevation changes, 20-mile views and plenty of water to attract all things hunted. Surrounded by giant and storied ranches such as the 6666, the Pitchfork and the QB, the Flattop is a contiguous 4,349 sprawling acres of plateaus, canyons, brush, ponds and pump jacks.
With all the beauty and resources the Flattop offers, one must wonder why is it being sold at auction? "The Flattop is the epitome of a Texas ranch. Historically, it has been a cattle ranch, but the trend and cattle market will likely see this ranch sell to buyers who are more interested in hunting than raising livestock," says the Flattop's listing agent Bill Barton with Meek Ranch Sales.
Barton reached out to veteran auctioneer and real estate broker Brent Graves of Alliance Auction & Realty, which has specialized in farm and ranch land auctions for nearly 20 years. "We are in a niche segment of the real estate business for sure. The auction method of marketing allows us to offer large tracts in smaller pieces or any combination which allows more participation from small, medium and large property buyers. It truly is the friendliest way to buy and sell land," said Graves. In the case of the Flattop, Barton and Graves fashioned an offering that produces four separate tracts ranging from 538 acres to 1,620 acres and the four pieces add up to the total of 4,348 acres.
Buyers will have the ability to bid on any single tract or any combination of those tracts, including the entire ranch. This unique process, called a multi-parcel auction, allows the smaller-tract buyers, who typically bid more per acre, to compete against the buyers who desire to own the entire ranch. Barton admitted, "The buying pool for a 4,300-acre ranch is much shallower compared to the pool of 500- to 1,500-acre buyers. The auction makes it possible to increase our number of buyers and sell it all on the same day."
The multi-parcel auction process is becoming more popular with large farm and ranch sellers. Mandi Blackwell, Alliance's auction coordinator, adds, "Owners of large properties understand the auction process. Many of them have attended cattle auctions and equipment auctions since they were kids. They understand markets, competition and fair value that an auction creates, and they trust the process. The multi-parcel process is unique to the auction method and sellers really like the opportunity to get more buyers involved and competing for ownership."
Ranch sellers can control the process, including date of sale, closing date and terms and conditions of sale, making the financial and tax planning portions of selling such an asset much easier. The price is established by a comprehensive marketing program that ends with spirited bidding that will determine who is willing to pay the most. When asked about sellers' concerns regarding price, Graves said, "Folks think auctions are for the bad economic times. I guess it comes from the Great Depression era. The best time to sell at auction is when times are good - there's more competition. When you are living in the longest economic expansion in U.S. history, I'd suggest you sell by auction." Graves admits that his conversations with potential sellers have doubled since 2017. "We're blessed to be busy. My auctioneer friends that offer real estate are busy and it's all because more sellers and agents are seeing the advantages of auction marketing," he said.
For more information about real estate auctions or the upcoming Flattop Ranch auction, visit www.AllianceAuctioneers.com or call 844-465-7653.
MEDIA CONTACT - Brent R. Graves, PHONE: 254-459-1111, EMAIL: [email protected]
Sunrise on the Flattop
The summer Texas sun rises over the Flattop Ranch's namesake plateau. The ranch will be sold by auction on Aug. 10 utilizing new methods.
SOURCE Alliance Auction & Realty