Hello,

I have a family member who is getting ready to try to sell 90 acres of farmland. The land is currently zoned agricultural and is rented to a local farmer. Most of the surrounding land has been zoned industrial and whoever buys the land will most likely want the rezone the land either commercial or industrial. The land is not a good candidate for a residential subdivision.The family member came to me saying they don’t know what to do and don’t know where to start. The land represents 80% of the family member’s net worth and has been in the family a long long time. Real estate agent. They’ve received a referral from a friend for a commercial real estate agent but haven’t contacted him yet. Do commercial real estate agents work like residential agents in terms of compensation (i.e., 3% to seller’s gent and 3% to buyer’s agent)? Setting a selling price. With my house, I can look at Zillow and see what similar houses are selling for to get an idea of its selling price. The only recent sales nearby were for small parcels all under 10 acres and I can’t find a site like Zillow that aggregates commercial real estate listings. It seems you have to go to the agent’s website to find these listings. I haven’t been able to find comps, probably because they don’t exist, but perhaps I am just not looking in the right places. I suggested they get an appraisal to get an idea what the land is worth as a starting point for setting a sales price. Will the agent do his own due diligence and then suggest a sales price as well? Zoning. How do they decide if they should rezone the property first to increase its value or let the buyer rezone. Would they talk to the real estate agent or a real estate attorney familiar with zoning in their locale to get advice? I’ve warned them that it might take a long time to sell and that they will have a large long term capital gain (over $1 mill) so we will be doing tax planning in the interim, anything else they should be concerned about?

Any help will be apprecited.

I didn't find the right solution from the Internet.

References:
https://www.bogleheads.org/forum/viewtopic.php?t=197240
utility management service marketing

Thank you.