The Land Report

Summer 2014

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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84 The LandReport | S U M M E R 2 0 1 4 LANDREPORT.COM A M E R I C A ' S BEST BROKERAGES that complemented existing o perations in 2013. Insight: "The 2013 market was strong and it appears that trend will continue into 2014," J ulie Pederson says. "The highest demand in our area has been in quality ranches and hunting properties." Aspen Snowmass Sotheby's International Realty (970) 925-6060 2013 Sales: > $1 Billion Who: A leader in the Roaring Fork Valley of Colorado with expertise in high-end ranches and farms. Wow: Sold Wildcat Ranch, previously owned by Michael Douglas, for $44 million, the largest sale in the region in 2013. Insight: "With the limited num- ber of trophy properties available, there is an abundance of buyers looking for rare and unique opportunities," says Mark Overstreet. "We expect to see continued growth in the high- end ranch market." Bates Land Consortium (800) 819-9920 2013 Sales: < $50 Million Who: Specializing in larger ranches and farms, as well as strategic recreational properties in the Rocky Mountain West for the last 44 years. Business is based solely on referral and repeat business. Wow: Sold a very productive 6,300-acre grain-hay-potato operation in southeast Idaho to three brothers who own a large farm just six miles away rather than to an institutional buyer with "no sweat" money. Insight: "In 2013, the incredible land prices in the Midwest drove considerable interest to the irrigated land in western v alleys," says Broker C. Patrick Bates. "We feel these trends will strengthen in 2014 and anticipate increasing interest f rom California operators." Clark & Associates Land Brokers (307) 334-2025 2013 Sales: $100 - $200 Million Who: Specializes in farm, ranch and recreational properties. Insight: "With low interest rates, a strong cattle market, and oil and gas production increasing in the area, we foresee great land sales in 2014," Sandy Thomas says. FarWest (755) 829-2122 2013 Sales: $50 - $100 Million Who: Boutique firm specializing in personalized service for clients buying or selling land, ranches, and equestrian properties across northern Nevada and northern California. Wow: Sold the Rafter 7 Ranch, which totaled over 100,000 acres, at full listing price within the first 30 days. Insight: "The market has steadily been strengthening, and we expect more of the same for this year," says Kathy Courtney. Fay Ranches (800) 238-8616 2013 Sales: $100 - $200 Million Who: Specializes in investment- quality production ranches, often with fly-fishing or hunting attrib- utes. Offices located in Montana, Wyoming, Colorado, Oregon, and Idaho. "It's been a team effort to grow Fay Ranches into the company we are today," Greg Fay says. "We have tremendous W E S T Arnold Realty (307) 746-2083 2013 Sales: < $50 Million Who: Husband and wife team specializes in ranches, hunting properties, and recreational holdings in Wyoming, South Dakota, and Montana. Wow: There were many repeat buyers and sellers who added adjoining properties to their holdings or acquired land in the Flint Hills of Kansas. Insight: "The Kansas land m arket has continued to stay strong with a high demand from quality buyers," says John Rupp. "We continue to see a large number of cash buyers in addi- tion to the favorable lending environment in today's market. We anticipate the market to continue to stay strong in 2014." Pifer's Auction & Realty (218) 477-1968 2013 Sales: $100 - $200 Million Who: Full-service auction, real estate, and land management firm specializing in the sale and management of farmland. Wow: Pifer's handled over 300 transactions for individual landowners, Fortune 500 companies, government entities, investment firms, trust companies, and universities. Insight : Farmland throughout the Great Plains increased over the last year and even more so over the last 24 months, notes Kevin Pifer. brokers spread out over several states with expertise and experi- ence putting large ranch transac- t ions together and solving the issues that invariably rise." Wow: L isted and represented the buyer on the 59,400-acre Medicine Bow River Ranch in Wyoming. Additionally, for the second year in a row, Fay Ranches had the best year in company history with an increase in sales of 10 percent over 2012. Insight: "From 2009 to 2012 we primarily made our living selling large production ranches that penciled," says Fay. "Starting in 2012 and increasingly in 2013 we have seen the amenity/legacy buyer trickle back into the market, which is a welcome development." Fuller Western Real Estate (303) 534-4822 2013 Sales: < $50 Million Who: One of the oldest ranch brokerages in the West. Expertise in ranches and recreational properties through- out Colorado and Wyoming; several brokers are active cattle ranchers with firsthand knowledge of the business. Insight: "We're encouraged that the many years of downward demand has reversed its trend," reports Burt Fuller. "The economy continues to thaw and demand for quality ranches has returned." Hall and Hall (406) 656-7500 2013 Sales: $300 - $500 Million Who: Largest full-service rural real estate firm in the Rocky Mountain West and Great Plains regions with national reach. Hall and Hall manages more than one million acres of land and offers 70-88 [2014.2] Best Brokers_Layout 1 5/24/14 2:50 PM Page 84

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