4 Great Reasons to Buy Used Farm Equipment

Tractor Plowing Scenic Farm Field in Woodward, OK

When it comes to bigger purchases, buying new versus used is always a top consideration. Farmers are a category of professionals who often face this dilemma.

The costs of farm machinery add up quickly and can break the bank before you know it, but some farmers are still hesitant to buy used and risk sacrificing quality or efficiency. Let’s take a look at a few reasons why buying used farming equipment is often the superior choice!

1) Cut startup costs.

For farmers who are just starting out, there are a lot of expenses you’ll need to cover to get your operation going. Used farm machinery is an excellent solution for saving on startup costs while still getting all of the basic equipment you need to get off the ground.

2) Keep spare machines on hand.

Every farmer knows there are a few key pieces of equipment that they wouldn’t be able to function without. If that vital machinery malfunctions, is damaged, or is offline for scheduled maintenance, you’re losing valuable time and profits until it’s fixed or you’ve secured a new one. Having used backup equipment on hand, at least for your major pieces, is a cost-effective solution for preventing that and providing extra security for your business.

3) It’s easy to determine if you’ll get your money’s worth.

The lifespan of farm machinery is easily gauged based on its current condition and the number of hours logged on it. This allows experienced farmers to accurately identify which used pieces are worth their cost. You’re not taking the same gamble you do when you buy other used items, such as a car.

4) Expand your operation.

Many farmers have come across the issue that because farm equipment is so expensive, some crops are not worth the production versus yield costs. Used machinery offers a more affordable option if you’re interested in more seasonal or niche harvests. This way, you can pursue other avenues of interest and profit without losing money on a brand-new machine you only use a few weeks or months out of the year.

If you’re a farmer in the Northwest Oklahoma or Kansas area, you can find premier used farm equipment, farmland, and more at one of Smith & Co Auction & Realty’s live or online auctions! When you buy your used farm machinery at auction, you get a say in the final price and will know you’re getting your equipment at true market value.

Head over to our website to be on the lookout for the equipment you need and stay up-to-date on our upcoming auctions!

Why You’ll Love to Live in Oklahoma

Real Estate and Auction Company in Woodward, OK

Unless you grew up here, Oklahoma is not typically one of the first locations people think of when they consider a move. But as a company of employees that have lived and worked in Oklahoma for several decades, Smith & Co can tell you confidently that this wonderful state has a lot more to offer than you might think.

If you’re looking for a new job, new home, new scenery, or just a new adventure, here are a few reasons to consider Oklahoma for your next destination!

Low cost of living

The cost of housing, food, utilities, and transportation in Oklahoma are all lower than the national average by quite a bit. The median price for a house in Oklahoma is about half that of the national average, and renting costs are among the lowest third of states. The amount of local food production and manufacturing helps keep costs low as well.

Constant growth

Oklahoma has been growing financially, culturally, and in infrastructure consistently for many years. The local economy is strong—it was one of the first to bounce back from the recession—and small businesses and job seekers often find success here. We also have a thriving nightlife, rich and innovative art and culture scene, and progressive infrastructure development.

Fast commute

Residents of big cities such as New York or LA often name the traffic as one of the biggest disadvantages of living there. In Oklahoma, you can enjoy live in a mid-big city living without the hassle of impossible transportation. Our bigger cities, like Oklahoma City and Tulsa, have some of the shortest commute times of all major U.S cities. This is thanks to our well-developed infrastructure and public transit system.

Desirable climate

In Oklahoma, you can enjoy the best of all four seasons. With a gorgeous spring, summer, winter, and fall, there’s a good balance of weather and a lot you can do in terms of outdoor recreation. Our diverse landscape and natural terrain make for some fun adventures like hiking, ziplining, river rafting, and more.

If you’re interested in discovering just how incredible life in Oklahoma is firsthand, Smith & Co Auction & Realty can help you find the perfect house to call home! Our licensed real estate professionals will be happy to get you set up with a property in Woodward or surrounding areas that fits your needs. You may even find your next home at one of our upcoming auctions.

Contact us today for more information about our real estate and auction services!

4 Red Flags to Watch for that Signal an Auction is a Scam

Auction Company in Woodward, OK

Auctions are great for people who want to sell their items, house, or land quickly, and buyers looking for a bargain. Unfortunately, there are others who will prey upon your interest in these benefits and run a scam auction, for both live and online events. These scams may include overpricing items or selling items the auctioneer doesn’t actually have available. They often get your attention with flashy ads or deals that seem too good to be true.

So, how you can tell if an auction you’re interested in or attending is legitimate or a sham? Here are a few of the biggest red flags to keep your eye out for!

1) No Accreditation

A legitimate auctioneer/auction company should have professional industry affiliations that show they’re serious. Look for memberships to the National Auctioneers Association (NAA), state auctioneers associations, and other relevant groups. You should be able to find this information on their website, or you can ask if you’re unsure.

2) No Experience

Before you head to an auction, take a few minutes to look up the company. They should have a record available of past auctions they’ve held and/or future auctions they have planned. Proven auction experience indicates a company is professional, that they have made valid sales in the past, and that they can put on a successful event.

3) No Permanent Address

If an auction is being held in a temporary location, such as a hotel or similar venue, there’s a good chance they’re running a traveling auction scam. Or, if they are held in a venue like this, they should have another permanent address and contact information listed readily. Remember—you don’t want to buy from someone you won’t be able to find again if there’s a problem

4) No Crowd

A proper auction company will have a vast network of resources and put in maximum effort to market their events, on behalf of themselves and their sellers. Keep in mind that many auction attendees are actually other dealers, so they’ll know which events are legitimate and which ones to stay away from. A sparse crowd could signal a dubious auction that’s baiting newcomers.

Smith & Co Auction & Realty has been providing professional auction services throughout Northwest Oklahoma and Kansas since 1987. With our decades of experience, as well as our NAA and Oklahoma State Auctioneers Association memberships, you can rest assured that you’ll only have the highest quality buying or selling experience with us.

View our upcoming auction schedule online or contact us today with any questions!

Preparing for Your Summer Open House

Real Estate Agent in Northwest OK

Summer is a great time to be in the real estate market. The weather is beautiful and the days are long, which means plenty of interested buyers are willing to attend showings and open houses. Buyers are also extra motivated this time of year, since most want to close on a place before school starts or the colder weather sets in.

Like any other season, there are certain measures you should be taking in summer to make your house appealing to the most buyers. When it comes time to prep for your summer open house, here are a few tricks to help you put on a fun, welcoming, and profitable showing!

Keep your house cool and comfortable.

Prospective buyers aren’t going to want to spend time in a hot and muggy house, and when you’re selling you want them to spend as much time falling in love with your space as possible. Make sure your house offers a cool reprieve from the summer heat by turning on fans and AC a few hours before buyers arrive. A good temperature to aim for is about 70 degrees.

Put emphasis on outdoor living spaces.

At this time of year when the sun is shining and temperatures are high, buyers will be looking for houses that offer a comfortable place to spend time outside. Appeal to this desire by highlighting areas of your home where they can enjoy the outdoors. Focus on spaces like the backyard, patio, pool, and front porch, if you have any. Just be sure to provide some shade in these areas, so buyers don’t get scorched.

Offer refreshments.

A cool bottle of water and a plate of tasty cold fruit will go a long way when it comes to making a good impression on buyers who are coming in from being in the summer sun. Set up a table or directly offer simple refreshments like water, iced tea, juice, popsicles for kids, and other cold snacks for guests of your open house. It’ll be a nice welcoming touch to make your place feel like home, as well as encourage prospective buyers to linger for longer.

The best way to ensure your open house and summer home sale are a success is to work with an experienced local real estate agency. In Northwest Oklahoma and Kansas, Smith & Co Auction & Realty is the agency you need. We’ll help you sell your home for top dollar, so all you have to worry about is getting your new place ready for that end-of-summer party.

Contact us today to discuss the details of your home sale!

3 of The Biggest Mistakes Bidders Make at Auctions

Upcoming Auctions near Woodward, OK

Going to an auction to battle for a property or an item you have your eye on can be intimidating. You might be scared to overbid and waste money, underbid and miss out, or even speak up and place your bid in the first place. But when you finally hear the auctioneer say “sold!” on your bid and walk away with what you came for, it’s a truly thrilling and satisfying experience.

To improve your chances of being the winning bidder, there are a few rookie mistakes you’ll want to avoid. Let’s go over what those top missteps are, so you can go into your next auction feeling fully prepared!

Mistake #1: Showing up unprepared.

If you want to succeed at an auction, you need to have a strategy, do prior research on the items you’re interested in, and establish your budget ahead of time. Without taking these steps to prepare, you’ll be more easily swayed by the auctioneer, other bidders, and your emotions. The most likely outcomes? You’ll either miss out on a great buy, overpay and waste your money, or end up legally obligated to buy something you can’t afford.

Mistake #2: Bidding too small.

Most bidders are afraid of wasting money with big, aggressive bids. But if you want to have a fighting chance at an auction, you have to be bold! Competitors won’t take small bids seriously or be scared off by small increments. In fact, upping your bids little by little will actually encourage others to keep bidding because they think you’re hesitating and can be scared off. Then, if you do win, you’ll probably end up paying a higher final price because you drove up the competition.

Mistake #3: Not bidding at all.

Taking a “wait and see” approach at an auction just puts more pressure on you in the long run. As others grow more confident in their bids, you’re more likely to hesitate and stay quiet than swoop in for the steal at the end. Bidding early and consistently shows that you’re confident and ready to spend, which helps fend off other challengers.

Are you ready to test your bidding skills? Check out one of the upcoming auctions from Smith & Co Auction & Realty! We’ve got some incredible properties, farm equipment, and household items going up for auction that could be the perfect reward for all of your preparation.

View all of the details of our upcoming auctions on our website today!

Don’t Miss This Incredible 8,500-Acre Ranch for Sale in Elk City, OK!

Finding the perfect ranch to turn into your home and launch your farming business is no easy feat, especially when you’re dreaming big. The good news for those who are searching for the right property in Oklahoma is that you’re in a state that’s ripe with valuable land waiting to be transformed. The even better news? Smith & Co Auction & Realty has a stunning ranch property for sale near Elk City!

The expansive A-Cross Ranch for sale in Roger Mills County includes 8,500 +/- acres of native and improved grasses and crop land.

Ranch for Sale in Roger Mills County, OK

900 +/- acres of impressive crop land offer prime opportunities for cultivating wheat and alfalfa. The remaining acreage consists of grasses that serve as an ideal pasture for livestock and excellent land for hunting. Located throughout the grass areas are several ponds and streams, including Kiowa Creek and Washita River, that provide an excellent water supply for irrigation. These bodies of water are also thriving wildlife habitats that make this property advantageous for hunting and fishing as well.

The A-Cross Ranch is located in Hammon, OK, just 17 miles north of Elk City. You will have easy access to a paved highway, making it a convenient location for business as well as residence.

Other Land Features of the Ranch for Sale

This large ranch property is already conveniently equipped with functional circle irrigation systems along the Washita River. You’ll also enjoy access to diesel-powered irrigation wells that provide water for the alfalfa crop, allowing you to supply good-quality hay to your animal herds. Steel corrals are already set up on the pasture as well, making it even easier for you to get started with your livestock operation.

The sale of the ranch also includes water rights to all of the water resources on your land—giving you even more bang for your buck!

Along with highly valuable acreage and resources, this Elk City ranch comes equipped with several beautiful structures for living and farm production.

The gorgeous area of the property located on Kiowa Creek serves as the Ranch Headquarters. You can enter Headquarters through the paved front entrance, marked by an illustrious archway, or a more direct gated south entrance. Once you’ve entered the area, you will arrive at four remarkable homes, which include:

Ranch for Sale near Elk City, OK
  • 5,000 +/- square foot brick home with a swimming pool, constructed in 1988
  • 3,000 +/- square foot brick home, constructed in 1994
  • 2,409 +/- square foot home, constructed in 1992
  • 992 +/- square foot home, constructed in 2007

These homes have a classic ranch feel with plenty of open space, hardwood, and unique character. You’ll notice the idyllic ambience of warmth and comfort as soon as you walk through the doors.

Near the Ranch Headquarters, you’ll also find a comprehensive, ready-to-use cattle processing facility.

Large Ranch for Sale in Roger Mills County, OK

The facility includes a processing barn, steel pens, Quonset building, supply and equipment storage structure, and a shop and/or office building. Additionally, there is a 5,000 square foot insulated steel building that was constructed in 2004. Wired and built on concrete with a lean-to on the south side, this multi-functional structure can be used for a wide range of opportunities.

If you’re looking for a self-supporting and well-diversified property in a convenient location, contact Ira Smith at Smith & Co Auction & Realty for more information about the A-Cross Ranch in Roger Mills County. You can also check out our online listing to learn more about the ranch, view a photo gallery, access detailed maps, and see an aerial video of the property!

As an Oklahoma farm native with over 30 years of local real estate experience, no one is more qualified or passionate about helping you find the perfect property for your farm and ranch operation than Ira.

Call Ira Smith at 580-334-6001 today to inquire about the sale of this amazing Oklahoma ranch and the many opportunities that come with it!

The Advantages of Selling Your Property in the Spring

Real Estate Agent in Woodward, OK

Spring is a special time of year. The birds start to come out, flowers begin to bloom, and we gain an extra hour to enjoy the increasing amounts of sunshine. In the real estate world though, spring brings more than just chirping birds and colorful flowers. The season of growth also brings a rush of buyers and sellers to the market!

In fact, spring is typically considered the busiest season in real estate, making it one of the best times to list your property. How can you benefit from a spring sale? Let’s take a look!

The demand to buy is high.

After a long and dreary winter cooped up inside, buyers are eager to get out and start house hunting by the time spring rolls around. The longer days and warm, fresh weather are the perfect combination to energize hopeful homeowners and sustain them through their search. Not to mention, many of them have tax refunds and holiday bonuses still burning a hole in their wallets, making them feel even more prepared to take the plunge.

Buyers want to close quickly.

One of the reasons the real estate market typically sees a wave of buyers in the spring is because a majority of people want to close before summer gets too far underway. Not many buyers want to spend their summer touring property after property in the grueling heat, especially in the south or Midwest. They’d rather spend summer days getting settled and relaxing in their new home. This is particularly true for families, who want to get their kids acclimated before the new school year begins.

You’ll probably sell for more money.

As we’ve established, spring buyers are primarily fueled by the vitality of the season, as well as the desire to be moved in by the end of summer. These two factors will motivate interested parties to make an offer on a property they like quickly, fostering greater competition. The race to make a spring sale is, therefore, very likely to lead to a bidding war that drives up offers and gives you a good chance of walking away with more money than you would any other time of year.

If you’re looking to get in on the real estate market action this spring, get in touch with Smith & Co Auction & Realty! With over 60 years of combined experience selling properties in Northwest Oklahoma and Kansas, nobody is more qualified to sell your home or help you find a new one than our team of licensed real estate professionals.

Call us today at 580-254-3975 to discuss your sale with an agent!

Consider These 3 Factors When Choosing a Location for Your Business

Commercial Property Auctions & Listings in Oklahoma

When you decide to open your own business, there are many more important decisions to follow that will play a big role in whether or not you are successful. One of most consequential of those decisions is going to be your location.

Aside from obvious factors like cost and size, there are many other considerations you’ll need to make when choosing a property for your business. Let’s take a look at which ones are going to have the biggest impact on your company’s growth and success.

1) Accessibility

If it’s hard for people to physically get to your business, they’re far less likely to make the effort to go. Your building, therefore, must be easily accessible to customers, employees, and vendors for deliveries. Look for locations near major roads and highways (that are easier to turn into) and with ample parking.

2) Foot Traffic

When choosing a commercial location, think about what level of foot traffic will be ideal for your business. For example, if you’re in the retail or restaurant industries, you want to be in an area with higher foot traffic. This will boost your exposure and expand your reach to potential customers. However, if you’re establishing an administrative office, law or medical practice, or other business that prioritizes confidentiality or a quiet environment, you may want to limit your search to lower traffic areas.

3) Competition

Your physical proximity to other businesses will have a significant effect on the demographics of area foot traffic and how successful you are within them. You want to avoid properties surrounded by businesses that are competing with you in the same market. Unless you have something especially unique that will make you stand out, too much nearby competition gives potential customers too many chances not to choose you.

Proximity to certain other types of businesses, however, can be mutually beneficial. For example, opening a restaurant near a movie theater is likely to attract more people to your location and drive more business to both of you (who doesn’t love dinner and a movie?).

Are you still searching for the perfect property to establish your business in Oklahoma or Kansas? Smith & Co. Auction & Realty can help!

We are constantly running auctions for commercial properties in prime locations that are ripe and ready for you to transform. We also have a team of licensed real estate agents who are more than qualified and willing to help you find the right commercial property to fit your business needs in your desired locale.

Give us a call at 580-254-3975 today to get started on your search!

How To Price Your Vacant Land for Sale

Land Auctions & Real Estate Agents in Northwest OK

There are a lot of different factors that come into play when pricing a residential or commercial property for the real estate market. Some of the first things you’d consider are the size and features of the property, the physical condition of the building, recent improvements and upgrades, etc.

But what about when there’s no house or business space to look at? How do you determine the value of a piece of land with nothing on it to gauge its worth? Smith & Co’s land real estate experts have a few helpful tips to get you started in the right direction!

Look at zoning restrictions.

The more opportunities your land has to offer potential buyers, the greater value it’s going to hold on the market. Find out what zoning restrictions and other government regulations apply to your land. Can it be developed for residential use? Commercial use? Is it good for farming/livestock raising/agriculture? Are there natural resource mining opportunities? Use this information to help you determine the price.

Survey the local market.

The market conditions in your area will play a considerable role in what buyers are willing to pay for your land. If there are a lot of similar properties around you, for example, yours may not be worth as much. On the other hand, if your land has something unique to offer, it could go for much higher than other listings. The total of available inventory will factor in as well. Or, in other words, whether it’s a buyer’s or seller’s market.

Get your land appraised.

A professional land appraiser will know exactly which factors matter in determining the value of your property and be able to gather the information necessary to evaluate them. They will consider factors such as land features (roadway access, natural resource availability, zoning regulations mentioned above), location, topography, size, and more. If possible, it’s a good idea to get multiple appraisals before settling on a final price.

Smith & Co Auction & Realty has successfully sold and auctioned off thousands of acres of land throughout Northwest Oklahoma and Kansas over the past 30+ years. With our decades of experience and extensive network of local resources, we can make sure your tract sells for top dollar.

Contact us today to learn more about our auction and real estate services!

Advice for Aspiring Farmers: The Most Important Things to Keep in Mind as You Get Started

Farm Land & Equipment Auctions in Woodward, OK

There’s a lot to love about life on the farm—the simplicity, the beauty of nature, the satisfaction of being able to put food on someone’s table. But when you’re the one who’s running the operation, things get a little more complicated.

It takes a lot of hard work to build a farming business from the ground up (literally). With dedication, a well-thought-out plan, and the right resources though, your dream of owning a farm isn’t too far out of reach. As you’re getting started, here are a few pieces of advice to guide you toward success!

1) Come up with a plan before you make any purchases.

Like we said, you need a strategic and well-researched plan if you’re going to make it as a farmer. Before you start looking for land or buying equipment, conduct extensive research about the local market to determine where the demand is and what you’ll need to get your foot in that door. Speaking to other local farmers is a great place to start to learn about market conditions and collect experienced advice about running a farm.

2) Track your money closely.

Don’t forget—farming is a business. It’s very important that you keep track of and manage your income, business expenses (both upfront and ongoing costs), tax regulations, and other financial information if you want to stay afloat. Keeping records like this will help you see which markets and months of the year tend to yield the most profit, allowing you to better refine your operation.

3) Be smart about buying equipment.

There’s no getting around the fact that you’ll need to make a hefty investment in farm equipment before you get started. The tricky part is to procure what you need without going overboard and putting yourself in the hole when you’re not yet turning a profit. Before you buy anything, you must first determine which pieces are essential for your operation, which can wait, and where you can compromise on quality (considering cost vs. benefit).

Are you trying to start a farming business in the great states of Oklahoma or Kansas? Smith & Co Auction & Realty can save you some headache…and some money! The sale of farmland and farm equipment is one of our specialties. All you have to do is follow our auction circuit to snag land and machinery for incredible prices.

Get in touch with us online or at 580-254-3975 today to start the search for the farmland of your dreams!