Leveraging Data for Accurate Land Valuation with Jason Bast

In this conversation, Jason Bast, managing broker for Mossy Oak Properties, discusses his transition from residential to land and recreational property real estate. He highlights the importance of using Acres data for accurate property valuation and insights into the Minnesota and Wisconsin land market. The discussion also touches on future trends in real estate investment and how Mossy Oak Properties is positioned in the market.

Rush Evans (00:00)
All right, Jason, thank you for taking the time today. Could you start out by telling us about your current role with Mossy Oak and what region you're working in?

Jason Bast (00:10)
Right, so I'm the managing broker for Mossy Oak Properties. I bought the franchise a few years ago now, and we're working in Wisconsin and Minnesota. We currently have seven agents on our team, and we've been in the real estate business for about 30 years.

We recently decided to shift from the residential side to land and recreational property to focus on what I really enjoy in real estate. That change led to our relationship with Acres about six months ago, which has helped further our real estate business and given us a definite edge in the competition here.

Rush Evans (01:10)
Awesome. Great feedback there. Building on that, how are you currently using Acres data to support your research and clients?

Jason Bast (01:21)
Primarily, we’re using Acres as a tool to help us accurately value land for our customers. The more accurately we can do that, the better our chances of getting the business and ultimately selling the property. With the tools Acres offers, we’ve been able to really fine-tune pricing and bring the data to show landowners, like comparing their property to others by factors like timber value and lease rates. It’s given us everything we need to give owners a usable, accurate value, which helps us move forward with marketing.

Rush Evans (02:25)
Great, great. Let’s dive more into that. What’s been the most valuable dataset in Acres that you’re leveraging in client meetings and presentations?

Jason Bast (02:35)
I’d say the most valuable feature is being able to look up sold property values. Whether the data comes from courthouse records or other Acres users, it's incredibly helpful to look up comparable property sales. Not only do we get the per-acre price, but we can click for details to see when the property sold, what its specifics were, and who the owners were.

Sometimes we find sales that initially look good but, upon checking details, see they were within-family sales, like in a divorce case, which skews the value. Without Acres' level of detail, you wouldn’t know that, which would hinder your ability to give accurate values to clients. So for us, that feature is probably number one. Acres also has new features in the works, which we're excited about. They’ll enable us to provide a 360-degree service, covering every base.

Rush Evans (04:08)
Good to hear. Now, looking more into your region and market area, what are you seeing in the Minnesota and Wisconsin land market that investors should take note of?

Jason Bast (04:22)
Well, generally, investors should know that land prices in our region haven’t decreased in the time I've been in the business. Land remains a great alternative to stocks and bonds, which fluctuate. Many people hear from financial advisors, "Yes, your 401k just lost 30%, but don't worry; in 10 years, you'll break even." That doesn’t happen with property.

Once we get past the fall and election season, I think we’ll see renewed interest in investing in land, agricultural land, and hunting properties, which people have wanted but postponed buying. Our market here is different. Mossy Oak Properties is primarily known in the South, so up here, we’re pioneers. The Mossy Oak name carries weight in the outdoor industry, which helps, even though we don’t have as much sales data or resources as they do in other regions. Still, this is a strong area for property investment.

Rush Evans (06:08)
Awesome. What are you seeing in your region for this year and into 2025?

Jason Bast (06:20)
I feel good about 2025. I think the real estate market is poised for an upward trend. Confidence in alternative investments is waning due to volatility and uncertainty, domestically and globally. Land offers that sense of sanctuary—an investment that consistently yields returns.

It's a relatively liquid asset, which you can usually move within six months to a year. And if it's a primary residence, you often don’t pay capital gains on it. So, I feel good about the next few years, especially if economic trends align. The next four to five years look promising for real estate here and likely nationwide.

Rush Evans (07:45)
We’re definitely seeing similar trends and agree with that outlook. Wrapping this up, what's the best way for people to learn more about working with Mossy Oak Properties?

Jason Bast (08:06)
You can visit our website at mossyoakproperties.com or our specific site at mississippivalleyre.com.