Until recently, it was impossible to confidently, accurately determine the value of a piece of agricultural land with objectivity and validity. Here’s why:
- Many different types of land buyers.
Different types of buyers can assign wildly different values to the same piece of land based on how they plan to use it.
- Several different ways to value land.
The traditional methods used to determine land value vary widely, with no clear-cut winner providing a valid, single source of truth.
- Massive amounts of complex, disconnected data.
The sheer volume, complexity, and disconnected nature of land data historically prevented the multivariate analysis required to set accurate, consistent land prices.
- Different geographies and climates.
Climates vary greatly across the U.S., making it difficult to generalize land prices across the entire nation.
- Unpredictable factors.
Some people plan to use the land in multiple ways; others can’t be objective about the land’s value due to sentimental attachments.
But now there’s a new way to confidently and accurately determine land value, with objectivity and validity. By uniquely blending publicly available data with proprietary, science-driven insights, a new valuation process gives stakeholders who aren’t personally familiar with a piece of land comprehensive data about it—and a new, common language for understanding it. Dig deeper into each of the above challenges and find out how a new, proprietary approach finally makes it possible for anyone to easily set accurate and consistent land prices. Reach out to CIBO to find out how we can help.