Value Land

How to Find Comparable Sales for Rural Land

Finding accurate, recent sales data for rural land doesn't have to be a headache. Learn how to find comparable sales faster in this short guide.

Comparable sales are the backbone of broker price opinions (BPOs), market analysis, and valuations. But when it comes to rural land, finding recent, relevant comps can be challenging.

This is in large part due to spotty sales data and the complexities of rural land. For example, it's much harder to find a relevant comparable sale for a specific farm than it is, say, a house or an office building due to the myriad factors that impact a farm's value. From property easements and road access to soil productivity and crop history, land is a complicated asset to value.

Traditional methods of tracking down rural land comps can result in outdated data and incomplete information. This is one of the main problems Acres is built to solve.

In this article, we'll cover where to find sales data for rural land and give you a peek into how Acres is making it faster and easier than ever.

Traditional Methods for Tracking Down Rural Land Comps

Networking with Peers

Reaching out to colleagues and peers for insights on rural property sales in a region is a tried and true method of finding comps. This approach is grounded in strong professional relationships and frequently results in valuable information sharing. However, its effectiveness is constrained by the size of your network and the willingness of others to collaborate.

Online Listings and Auctions

The internet of course offers access to sold listings, auction results, and real estate marketplaces. While combing through these resources can yield useful comps, it's also time-consuming and often feels like searching for a needle in a haystack.

Public Records and MLS Systems

Public records and Multiple Listing Services (MLS) are commonly used resources for finding historical sales data. Still, in non-disclosure and partial-disclosure states, the information might be incomplete or harder to come by. Also, the vast majority of MLS systems simply aren't built for rural land.

The Acres Advantage: How to Get the Latest Sales Data

Although traditional methods have their advantages, they also pose challenges like time-consuming processes, dependence on personal networks, and fragmented information sources. Here's how Acres provides an alternative.

A Curated Sales Database

Acres provides land professionals with a curated sales database that simplifies finding relevant comparable sales for rural land. Our in-house data analysts update this database weekly, ensuring you have access to the most recent, relevant, and accurate sales data. This includes coverage in non-disclosure and partial disclosure states, areas where traditional methods often fall short.

Efficiency and Accuracy

With Acres, the days of making countless calls, sifting through direct mail, and scouring the internet for bits and pieces of data are behind you. Our platform offers a centralized source of information, allowing you to quickly search and find the sales data you need to make informed decisions.

Contextual Details

Not only does Acres provide the latest and most accurate rural land sales data available, it also provides additional context with details about the sale. On top of that, you can easily take a closer look at insights, like soil productivity, crop history, vegetation index, and more for any sale.

Final Thoughts

While the hunt for relevant rural land sales has traditionally been a challenge, Acres offers a solution that makes finding this data fast and easy. By switching to Acres, you can move beyond the limitations of traditional methods and step into a future where accurate, comprehensive sales data is readily accessible, empowering you to analyze and value land with confidence.

Similar posts