How to Buy a Fly Fishing Ranch, pt. 2: Finding a Broker

This is the second of a three-part series on how to buy a fly fishing ranch. In this article, Greg covers the important characteristics to look for in a ranch broker, and how to know if a broker is right for you. We hope you continue to enjoy this series and that it helps you with your journey in making one of the best decisions of your life: purchasing a fly fishing ranch. If you didn't catch last week's installment, you can read it here.

Part 2: Finding a Ranch Broker

Last week I talked about how important it is to research fly fishing ranches and how to become knowledgeable about buying them. The next step in the process is finding a broker who has the knowledge you need. Don’t worry if you didn’t find the time to research via the Internet. If you find a good broker, you’ll be fine.

Purchasing a ranch is not like buying a house. It is a far more complex transaction, possibly similar to business acquisitions that you’ve made in the past. You will rely heavily upon your broker’s knowledge when buying a ranch. There are terms and concepts that will be foreign to you, but learning them is part of the fun. Throw into the mix the fly fishing component, and the importance of finding a knowledgeable broker who shares your interests grows exponentially.

There are three characteristics to look for in a broker:
The first thing is simply finding someone you like. This will help ensure that it’s an enjoyable journey. When you go online to do your preliminary research, pay as much attention to information on the brokers as you do on the properties. Read their biographies and watch any broker videos. You will be sharing many hours in a truck with your broker, so you’ll either be thankful you hit it off or you’ll be dreading the next day of touring ranches.

The second important broker attribute is knowledge. If quality fly fishing is a priority, your broker should be a knowledgeable angler. Are they passionate, or just pretend, or not at all? Even on the famous rivers there are more productive stretches which you’ll only learn from spending time on the water. The best fly fishing brokers know about the ‘off the radar’ fisheries as well. Some of the best fly fishing ranches are on rivers or streams that are not in the guide books.
Your broker also needs to understand ranches. Do they know the difference between water rights and good fly fishing water? Do they know what needs to be researched during due diligence? Can they recognize red flags? Do they understand the importance of a sustainable agricultural plan and the positive impact this can have on fish and wildlife populations? Do they have experience solving the problems that will invariably come up during the purchase process? Do they have a track record of negotiating good deals for their clients?

The third critical broker asset is trustworthiness. When you build a relationship of trust with a broker who is a passionate angler and a knowledgeable ranch professional, you will have an excellent likelihood of finding a ranch that will fit your interests and provide you, your family, and your friends years of enjoyable activities and memories. Trust is the key. Is your broker trying to sell you every ranch he or she shows you or are they looking at every ranch through your eyes and only getting excited about a ranch that fits your needs? Is he listening, paying attention to your reactions, understanding the vital factors beyond fly fishing? If the rest of your family doesn’t want to be at the ranch, you won’t be spending much time there. Every ranch has its issues. Does he tell you the good and the bad? I can’t remember selling a ranch that didn’t have a negative aspect: some you can live with, some you can’t.

After you do some research, call a broker that seems like a good candidate and discuss your intentions for securing a fly fishing property. At some point you’ll have a phone conversation that leaves you thinking, “I like this person, and he seems to know what he's talking about.” Once you’ve found a knowledgeable and trustworthy broker you like, stick with him or her.
You’ll know you’ve found a good broker when he calls and tells you a ranch has come on the market and you need to get out as soon as possible to look at it—and you trust his judgment.

Greg Fay is an avid outdoorsman and ranch broker, and resides with his family in Bozeman, MT. Greg and the 17 other brokers at Fay Ranches represent the finest hunting, fly fishing and working ranches in Montana, Wyoming, Colorado, Idaho and Oregon. Contact Us today to learn how you can start living the life you have imagined.

The rest of the three-part series can be found below:

How to Buy a Fly Fishing Ranch, Part One: Do Your Research

How to Buy a Fly Fishing Ranch, Part Three: Closing the Deal