2012 Top Auction Houses Announced
The Land Report recognizes the top auction houses in the U.S. during 2012
BIRMINGHAM, Ala. – The Land Report is pleased to announce the 2012 Top Auction Houses, the fourth-annual ranking of land auction houses in the U.S. based on the total value of self-reported 2012 domestic land sales by auction.
“The 2012 numbers from America’s top auction houses are proof positive that an increasing number of investors are broadening their portfolios by buying land,” said Eric O’Keefe, editor of The Land Report.
The auction houses included are divided into seven geographic locations including National, Midwest, Great Plains, Great Lakes, South, Southwest and West. Two auction houses, including United Country Auction Services and Farmers National, were also recognized for having land sales in excess of $400 million.
“The conditions that existed in 2012 aligned perfectly for the auction method of marketing, those being sellers who have a sense of urgency to sell and realize gains prior to changes in the tax law and buyers looking to participate in the improving economics and opportunities to invest in land as an asset class,” said Dan Duffy, CEO of United Country. “People are realizing the auctions, for certain sellers, are the right way to go.”
“We are anticipating a growth for this year near 30%, resulting from a combination of expanding into new markets and increasing overall market share. We are on track to complete over 500 auctions and will likely approach the 100,000-acre milestone this year,” says Farmers National Vice President Derrick Volchoff.
Auctions considered for ranking purposes excluded commercial, industrial and residential properties. All figures cited were provided by each respective firm and the survey was conducted from May 1-28, 2013.
“We anticipate continued strength across the board for tillable farmland,” says R.D. Schrader, Schrader Real Estate and Auction Company. “Farm debt remains low and farmers continue to enjoy good incomes and a strong cash position. Prices per acre will vary based on location and land quality, and commodity prices will naturally have an impact.”
The 2012 Top Auction Houses article can be viewed in The Land Report’s print or digital issue.
“Land values continued to increase in 2012 and with a limited supply for sale, we saw an increase in demand for good quality farmland,” said Rand Hertz, Hertz Real Estate. “Our success originates with our people and the relationships we build with land owners. We work to understand their needs and help them do what is best for them and their families.”
“This is a strong and confident land market,” says Kevin Pifer of Pifer’s.
The 2012 Top Auction Houses are listed below by geographic territory.
About The Land Report
Founded in 2007, The Land Report is an award-winning quarterly magazine focused on America’s greatest resource – the land. For more information, visit LandReport.com. You can follow The Land Report on Facebook, Twitter, LinkedIn, Pinterest and Google+.