The Land Report

AG 2019

The Magazine of the American Landowner is an essential guide for investors, landowners, and those interested in buying or selling land. The award-winning quarterly is known for its annual survey of America's largest landowners, The Land Report 100.

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Page 27 of 51

FrontGate A TIME TO SOW Whitetail Properties CEO Dan Perez, shown planting a sapling, believes that the market is ripe for his company to add an auction component to its business model. W hitetail Properties knows land, particularly recre- ational land. After barely a decade in business, the Illinois-based real estate company already has sur- passed more than $1 billion in total sales with a decided emphasis on hunt- ing properties. Williams & Williams knows auc- tions. e Tulsa-based auction house boasts a century of experience. In the past decade alone, the company has sold more than $10 billion in real estate across the United States, Central Amer- ica, and Europe. Now these two companies are teaming up to form Ranch and Farm Auctions. e joint venture officially began last summer, but is poised to take off by the end of this year, according to Whitetail CEO and founding partner Dan Perez. "With what we both bring to the table, we can change the scope of land real estate auctions as they exist today," Perez says. "We have very strong expectations because combining the individual strengths of Whitetail Prop- erties and Williams & Williams gives us a head start right out of the box." Greg Lutz agrees. A managing director at Williams & Williams who serves as CEO of Ranch and Farm Auctions, Lutz points out that the auc- tion house can now utilize Whitetail's 220 agents and staff to make connec- tions with property owners beyond the retail, industrial, and other commercial categories that traditionally have been Williams & Williams' specialty. "e Whitetail agents are the boots on the ground when it comes to land real estate, while we have the auction expertise," Lutz says. "So we thought the marriage of those two companies was perfect. You have two entities that are both experts in their field." Perez says Whitetail has been inter- ested in venturing into the auction business for several years, since the most common way that farm and ranch land changes hands is through auctions. He says the company was receiving an increasing number of inquiries from landowners who wanted to sell their land via auction instead of by utilizing the more traditional brokerage route. "We saw that need and wanted to get into that component of the business," Perez says. "Williams & Williams is perfect because they have a huge com- pliance division and years of auction knowledge. ey can go through these properties like popcorn, they sell them so fast." Williams & Williams also was look- ing to expand its reach, and Lutz says land auctions were the logical next step, Growing a New Brand I N D U S T R Y U P D A T E Whitetail Properties partners with William & Williams to form RANCH AND FARM AUCTIONS . — Cary Estes 26 L ANDREP ORT.COM e LandReport | AGRICULTURE 20 19

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