Advice needed on selling some land to a developer

[Thews40]

My dad passed away and left us 60 acres in Cedar City Utah. The land has a lot of water rights, and since they’re not being used there’s a chance that the state may take them away. The land is located in a prospering area and there's a lot of developments sprouting up around it. We’re looking into our options on keeping the house and selling 55 acres, and Century 21 wants an 11% commission which seems far too much to me. Any developers out there that can give me some advice?

[Yukon Cornelius]

My dad passed away and left us 60 acres in Cedar City Utah. The land has a lot of water rights, and since they’re not being used there’s a chance that the state may take them away. The land is located in a prospering area and there's a lot of developments sprouting up around it. We’re looking into our options on keeping the house and selling 55 acres, and Century 21 wants an 11% commission which seems far too much to me. Any developers out there that can give me some advice?

WOW 11% no e'fn way go check with some others....

[yo mama]

11% is too high. FYI, you (should) have a nice high tax basis in the property you shouldn't have much of a federal income tax problem if and when you do sell. However, you may want to consider doing an IRC 1031 (tax free) exchange of the land into a more commercial property that kicks off a stable stream of income, while still steadily appriciating in value. You'd have some fees, but not nearly 11%, plus no taxes.

[Front Row]

Good acre building lots are selling for about 50 G + here in hudson valley. 11% commish is high , I'd see what the market value is at and check 21's competition before signing anything.