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Selling a golf course is quite different from a typical commercial real estate transaction. It is both a “going” business and a large tract of land. It has a long history within the local community and has been enjoyed by thousands of golfers. Although other land uses may be possible through a change in zoning, a golf course is usually the highest and best use of the land. This means that for the most part, golf courses must be marketed to the golf industry.

By utilizing a large network within the golf industry, access to Members Only postings on golf industry websites and a confidential list of pre-qualified buyers, Ontario Golf Course Sales in able to effectively market golf properties.

Another consideration is whether to market a golf course “quietly” instead of relying on public channels such as putting up a For Sale sign or placing on the Multiple Listing Service (MLS). This is due to the adverse effect a public sale can have on the golf course operation including possible loss of memberships and pre-booked leagues and tournaments. The majority of Ontario Golf Course Sales’ clients opt for a “quiet” sale. Of course, if this is not of concern, traditional marketing vehicles are used including MLS, and ICI World.

The Ontario Golf Course Sales team has a comprehensive understanding of golf properties and can provide an accurate assessment of market value and a proven marketing strategy to successfully sell your golf course.

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The key to a successful golf course transaction is to buy at the right price. This begins by accurately determining market value using the following techniques.

Cost Approach:
An analysis of how much it would cost to develop the same property today which is usually quite different than the original development cost. Ontario Golf Course Sales relies on its 40 years in the golf industry plus a network of affiliates to accurately estimate the cost to construct each hole, practice facility, irrigation system, clubhouse, maintenance building and other property features.

Income Approach:
An analysis of the golf course financials usually normalized over three years. Revenue and expenses are benchmarked against similar golf courses to determine operational efficiencies and/or deficiencies. An appropriate capitalization rate is then selected based on a number of factors including location and competition.

Direct Comparison Approach:
This is the most popular approach in residential real estate but is rarely used with golf courses because relatively few sales occur each year in Ontario and no two golf courses are the same.

Financing

Most golf course purchases require a significant amount of capital which has become increasingly difficult to obtain. Ontario Golf Course Sales maintains excellent relationships with a variety of golf course financing sources.