Dlriz, if your "cones" don't have red seeds inside, the seeds aren't ripe yet, or that cone didn't get pollinated. You may need to look for seeds in the fall. I wish you the best on eventually getting/growing a tree for your yard. An acre is definitely a big enough lot for a giant tree. If you have a dog who likes to nap on a hot afternoon, he/she will probably like to nap under your tree when it gets big enough.
Using the zone finder on this site, it says you are in zone 7a, which is the edge of hardiness (where this plant can survive winter) for southern magnolia, so it's a realistic desire.
https://garden.org/nga/zipzone...
I don't want to be debbie downer, but I've never sniffed anything from this kind of bloom without removing the bloom from the tree and getting closer to it. I've never detected the scent wafting from the tree to my nose. Maybe it does for some people. The blooms I've sniffed smell exactly like Lemon Pledge furniture cleaner. Most of the blooms would require a giant ladder to reach. There are definite differences in what people smell or not, and whether or not they like what they are smelling, so maybe my experience is less common, IDK. Just offering some food for thought because if you decide after a few years that you don't like a tree, they don't come out as easily as they go in.