Our blog will help keep you informed about news and information related to the farm, ranch and rural real estate markets. If you share our desire for wide open spaces and investment in the land, we hope you will subscribe, read and discuss the stories we find and develop here. More than just an investment, ranch, farm and rural real estate evokes a type of lifestyle that was born over a century ago and still provides a certain romance and passion for those who embrace the pioneering spirit from those days gone by.

The Role of a Ranch Management Company

By: Justin Bryan

Historically, the most reliable predictor of a successful farm, ranch, or recreational operation is a competent, honest, and qualified management team. This team should have the owner’s interests at heart and possess the attributes necessary to effectively manage the property. In the end, their oversight of the property and relationship with the owner will have profound long-term implications toward the success of the property and ultimately influence those who may desire to purchase it in the future.

pronghorn-yellowstone

The real pleasure a landowner receives from ownership is obtained when he/she is confident that the property is being properly supervised.  When this occurs, the owner, family, and friends will be able to enjoy it as intended both from the operational and the recreational point of view. The enjoyment of ownership is what we term the “psychic return” and is a significant part of the “return on investment” derived by the landowner. Each landowner has his or her own unique needs – large and small – and matching those with the correct management system is the key to successful property management.

bull-creek-037

For the on-site landowner who is consistently present and knowledgeable regarding rural property management, the ability to guide the daily tasks and develop valuable relationships with the staff creates a healthy environment to thrive upon.

In contrast, many rural properties are owned by on-site individuals who lack a real understanding of the unique aspects of rural property management. This can often result in poor overall performance of staff at which point ownership ceases to be enjoyable. A common example of this would be a situation in which the principal managing family member passes away and an inexperienced family member is required to fulfill the duties. Then there are the true absentee landowners. This inherently creates the most challenging situation for staff and owners to communicate clearly. Often the managing director of an absentee-owned property is an estate executor or a successful business person who, although accomplished in their chosen field, lacks knowledge in real-world rural property management. Procuring the right people in place who “ride for the brand” and perform their job as expected can come in a variety of forms to meet the requirements of each type of landowner.

3

In terms of management, each type of landowner is afforded a few options regarding administration and on-the-ground labor. Their requirements might involve simply livestock and/or agriculture, or they might involve a mix of livestock, wildlife/fisheries and the maintenance/restoration of buildings. These choices include traditional staffing, farm and ranch team consultants, or a hybrid mix of traditional on-site staff with consultant oversite. Each of these staff options have pros and cons and must be evaluated by landowners whose needs are unique unto themselves. The selection of the system that best fits the owner provides the opportunity for the “return on investment” – either psychic or financial – that is desired.

texas ranch for sale, lucky star ranch, texas rangeland

Traditional Staffing

It is a unique individual who chooses to be a beneficial source of labor and knowledge on a rural property. Ranch employment is not your average everyday eight-to-five job and, therefore, necessitates a high-level of personal commitment.  Be it a livestock guy or gal, wildlife biologist, or all-around ranch hand, reliable and competent employees are a must. To alleviate poor hiring choices, those individuals who are well-vetted by someone who truly understands what is required on the property and knows the owner’s expectations often have the best opportunity to succeed. These individuals provide a stable platform upon which a property can thrive. The relationships that can be built between an owner and long-term staff are rewarding as both entities work in conjunction to develop the property and see it flourish over time. Staff turnover, when it occurs, can, unfortunately, be the most expensive, stressful, and time-consuming issue in farm and/or ranch ownership causing the enjoyment of ownership to begin to wane.  If and when employees leave, they take with them the comprehension of what is actually required to permit a property to operate efficiently and effectively – from water systems to haying, livestock to bill paying, to hunting operations. Their knowledge of the property derived from a long tenure can be challenging to replace.

Farm and Ranch Team Consultants

Acquiring the services of a rural property management firm is an option available to landowners, especially absentee landowners or estate executors who desire to immediately have in place a proven team focused exclusively on their needs. This independent focus allows the firm to work with and typically mentor the on-site staff, and it allows them to always be part of the solution for the landowner and never part of the problem. A firm such as this can effectively manage the increasingly complex federal and state environmental regulations, changing national and world markets for livestock, crops and timber, critical water and mineral rights issues, and tax considerations on any given property. The firm’s experience with multiple successful operations gives them a high level of current knowledge and practical expertise for these details to be dealt with correctly and in a timely and professional manner. In this situation, the owner/executor is assured that the property is being taken care of properly. In addition, a history of professional management is, without a doubt, a major advantage if and when the decision is made to sell a property.

Hybrid Management

A hybrid management scenario occurs when a landowner desires to have competent staff on-site in combination with supervision expertise from a management firm. This allows for the management company, which has extensive exposure to a diverse array of operations, to provide operational oversight on a broad spectrum of ranching enterprises while the boots on the ground fulfill the daily tasks. A hybrid system is commonly utilized by all three types of landowners who desire to maximize profits and minimize potential headaches.

DSC00196

Desirable Management Services

  • Budgeting, accounting and bill paying
  • Creation and execution of natural resource development and business plans
  • Asset evaluation including land, equipment, structures, herds, crops, fish, wildlife, and other tangibles such as the human resources available
  • Product sales and marketing services
  • Recruitment and hiring of management level personnel
  • Direct management and/or consultant services to staff
  • Periodic oversight of operations
  • Direct management of deeded properties, leases, and grazing allotments

Such services are most often chosen a la carte per the landowner’s needs. These can be as complex as the cost-benefit analysis of financing farm equipment, restoration of wetlands and/or native grasslands, or habitat mitigation credits. Or as simple as periodic oversight, bill paying and monthly reports or consultation with or mentoring of staff.

2

Managing quality rural real estate properties, be it commercial farms or ranches or prime recreational retreats, can be a daunting challenge. This is particularly true for absentee owners, but even full-time resident owners can often benefit from the outside perspective of an experienced farm/ranch management firm. Ultimately such services should ensure that details of the property are being properly taken care of to allow the landowner to fully enjoy his/her property with family, friends, and business associates.

Hall and Hall is one of the few companies that provide management services and the recruitment of management level employees on behalf of landowners across a broad geography and property type. Please feel free to contact one of our offices if we can be of help. It is the stated purpose of our management group to make the ownership of rural land a positive and worry-free experience for our clients.

 

TIME Magazine Names Bozeman, Montana Best Place to Live

An excerpt from the article reads:

“It doesn’t get much more scenic than Bozeman, Mont., a picturesque college town nestled between four mountain ranges and located just 90 minutes from Yellowstone National Park. A paradise for outdoor enthusiasts, Bozeman boasts easy access to world-class skiing, fishing, hiking, rafting, and more. It also offers a charming downtown area and a surprisingly vibrant cultural scene, thanks to the presence of Montana State University and a number of art and music events like the annual Sweet Pea Festival. The economy is expected to keep expanding; Moody’s Analytics predicts 11.4% job growth over the next five years.” —Ismat Sarah Mangla

Located just 20 minutes west of Bozeman, with easy access to Big Sky Resort and just a few miles from the Madison River, Elk Creek Ranch’s 1,166.70± acres make up a strong agricultural base with excellent recreational opportunities.

elk-creek-097Whispering Pines is a 41± acre tract of conifer-covered foothills located in the southeast corner of the Gallatin Valley, in the highly desirable mountain community of Bozeman, Montana.whispering-pines-054

Elk Hunting on Montana Ranches

By: Keith Lenard

September is the cruelest month. The crisp autumn air hearkens nostalgically and golden aspens beckon us to the mountains during still-long days. For the first time this year, the light lengthens and falls softly across the broad Montana river valleys, setting off a riot of glinting sparkles across our pristine trout rivers. Snow dusts the tips of close peaks like whip cream on a sundae. Elk bugle in the high country and majestic herd bulls round up large harems of cows. And the wind just shifted and sent the whole lot running down the mountain.

N Bar Elk090
It’s not over, you tell yourself. There are plenty more elk in them there hills and you shoulder your pack and go searching for the next magic moment. Over the years, I’ve had the privilege to hunt many of our listings during bow season. The Dempsey Creek Ranch and the Hoover Creek timber property are just a few that can be mentioned. In fact, I got my first archery elk on Dempsey Creek, courtesy of the gracious new owners that had just acquired the property to continue their family’s legacy of cattle raising.

N Bar Elk095
Montana ranches for sale in our current inventory offer a multitude of exceptional properties with abundant, private elk and deer hunting opportunities. In western Montana, the Sula Peak, Warren Peak, Miller Lake and Lone Cypress Ranches each offer exceptional solitude and scenery, not to mention large elk. In central Montana, properties such as the Bull Mountain Ranch, Lippert Gulch and Elk Basin fill the bill. The IX Ranch, a legacy offering that is also rich in cattle-raising history, provides some of the best elk hunting in the world, with a hunt area that offers some of the most coveted permits in Montana. Colorado and Wyoming ranches for sale offer an equally rich and diverse opportunity to purchase your own wildlife nirvana.

N Bar Elk027

Regardless of whether you’re a hunter or just a wildlife enthusiast that marvels at the seasonal ritual of jousting monster bulls, Rocky Mountain ranches for sale provide a smorgasbord of rural land investment opportunities that will provide you and your family endless memories of sapphire skies, snowy mornings and bugling elk.

I haven’t managed to get my elk so far this bow season. Although I’ve been within 50 yards of elk every single day that I’ve been out, I haven’t managed to close the gap into bowshot range. I guess the cruelty and wonder will continue.

N Bar Elk110

Ranches for Sale and Upcoming Auction in the Press

Over the past few weeks, two of our Colorado ranch listings, a Washington ranch for sale, and an upcoming Colorado ranch auction have been in the news. Motherwell Ranch was profiled by TopTenRealEstateDeals, Business Denver, Wide Open Spaces, The Steamboat Pilot, and Denver 7 ABC.

motherwell-105

Idlewild Canyon in Washington was profiled by a number of media outlets in the Northwest, including The Portland Business Journal and The News Tribune.

ranch3

The Bowen Arrow Ranch, an 8,700-acre property near Denver being auctioned October 19 and Piedra Valley Ranch in Colorado were also profiled by The Denver Channel.

DSC00958_1506104322552_66977959_ver1.0_640_480

 

 

Impact of Natural Disasters on Texas Farm & Ranch Market

After a natural disaster or catastrophe, such as a hurricane, farm and ranch real estate markets in the impacted area typically pause for a period of time. Tyler Jacobs of Hall and Hall explains on “Texas News and Views” a radio program by Texas Farm Bureau.

Hall and Hall Featured in Mansion Global Ranch Real Estate Story

We were pleased to see two of our Partners, Jeff Buerger and Jim Taylor, prominently featured in a Mansion Global story about the ranch real estate market. The piece highlights Stealey Mountain Ranch, a new Colorado ranch listing. Excerpts from the story entitled, “Home on the Range: Multi-Million Dollar ‘Lifestyle’ Ranches Are a Strong Draw For Wealthy” can be read below.

Untitled-1

“We have a long list of people who will quickly buy something really super [that are] under the radar at a top price but won’t even consider places that aren’t quite super,” said Hall and Hall’s Jim Taylor

Though not the most common method of sale, Mr. Taylor said that this year, his firm sold four premium recreational ranches—ranging from about $10 million to $40 million—without ever formally listing the ranches.

Putting a premium on the beauty and recreation value of a ranch really began in full-force in the late 1980s, Mr. Taylor said. In 1989, he helped broker one of the largest and perhaps most well-known recreational ranch sales of the time: Ted Turner’s purchase of the 107,000-acre Flying D Ranch in Montana for $21 million. “After that, the floodgates opened,” Mr. Taylor said. “People were then really willing to pay for the scenery, for the trout fishing, it was much more than just about a ranch.”

stealey-mtn-763

“What makes a premium recreational ranch can really depend on the buyer, but when it has a lot of those bells and whistles—really beautiful views, privacy, great hunting and fishing, tucked up near a national forest, and not too far from civilization, it’s something people who can afford it will buy,” said Jeff Buerger, a Hall and Hall broker who represents the Stealey Mountain Ranch—a $24,950,00 Colorado property at the foot of the San Juan mountains, a soaring and rugged range of the Rocky Mountains. Along with wildlife and expansive views, the more than 2,100-acre property, bordered by the Uncompahgre National Forest, also features an 8,079-square-foot main residence, perched on a hilltop, with an indoor saltwater pool. The seller of the property, which has been on the market for about three months, declined to comment.

stealey-mtn-967

While the demographic of the top-tier lifestyle ranch buyer is generally someone from the Baby Boomer generation, “someone who maybe grew up watching John Wayne and really put value in that old-fashioned Western way of life,” Mr. Buerger said, he’s also seen a growing number of younger buyers, especially from the tech world, looking to invest in the land and the lifestyle.  

“A beautiful ranch can really be like buying a beautiful piece of art,” Mr. Buerger said. “It can be a be a long term investment, and it’s also very subjective.”