American Land Seller Podcast
Welcome to The American Land Seller, the podcast dedicated to landowners, buyers, and investors seeking expert insights into the evolving land market. Hosted by Koby Rickertsen, an Accredited Land Consultant and CEO and Multi-State Land Broker with Ironhorse Land Company, this show dives deep into market trends, investment strategies, and real-world experiences in farm, ranch, and recreational land sales.
Each episode features industry professionals, seasoned investors, and landowners sharing their expertise on topics such as:
✅ Land market trends and valuation strategies
✅ 1031 exchanges and tax implications
✅ Seller financing and creative deal structures
✅ Conservation easements and government programs
✅ Navigating legal and zoning challenges
✅ Building generational wealth through land ownership
Whether you're a first-time land buyer, a seasoned investor, or a landowner looking to sell, The American Land Seller provides the knowledge and tools you need to succeed in today’s competitive land market.
American Land Seller Podcast
#52 - It’s a Beautiful Day in the Agrihood | Doug Bear
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Doug Bear joins The American Land Seller to discuss what's happening in Iowa's land market, the evolving role of the Realtors Land Institute, and Peoples Company's innovative Agrihood development.
Doug, a land broker licensed in Iowa, Minnesota, Nebraska, and Kansas, shares practical advice for new land professionals, discusses the importance of education and professionalism in the industry, and explains why farm succession planning is one of the most important conversations landowners can have.
Topics include:
• Iowa farmland market insights
• Leadership within the Iowa Chapter of RLI
• Peoples Company's new Agrihood project
• Advice for new land brokers
• Farm ownership transition and succession planning
• The future of rural real estate
Learn more about Doug Bear:
Doug Bear | Peoples Company
Learn more about the Peoples Company Land Investment Expo:
Land Investment Expo
Whether you're buying, selling, investing, or building a career in land, this episode offers valuable insight from one of the Midwest's respected land professionals.
Welcome And The Big Themes
SPEAKER_03Today, on the American Land Seller, we're headed to Iowa for a conversation with Doug Baer, a multi-state land broker with People's Company. Licensed in Iowa, Minnesota, Nebraska, and Kansas, and the current president of the Iowa chapter of the Realtors Land Institute. Doug has built his career helping landowners navigate one of the most important decisions they'll ever make. And today we're covering a wide range of topics that affect both landowners and land professionals. We'll talk about what's happening in the Iowa land market, the work the Iowa chapter of RLI is doing to elevate professionalism across the industry, and how organizations like RLI continue to shape the future of land brokerage. We'll also dive into people's companies and innovative new agro development. What makes this project unique and why it's generating so much interest? For those thinking about a career in land, Doug shares his advice for new agents entering the business, the skills they should be developing, and what it really takes to build a long-term career in this industry. Finally, we'll wrap up with an important conversation about ownership transition, passing farms and ranches from one generation to the next, and why those conversations should start much earlier than most families think. This is a great discussion with one of the Midwest's most respected land professionals.
SPEAKER_01Welcome to the American Land Seller Podcast, with your hosts, Kobe Richardson and Brittany Murphy. Kobe is an accredited land consultant and the CEO managing broker of Iron Horse Land Company, a multi-state land brokerage specializing in farm, ranch, recreational, and development land across the heartland. Brittany is the chief marketing officer of Ironhorse, bringing top-level marketing strategy, brand development, and creative execution built specifically for the land business. Each week, we bring you real-world insight and expert conversations on land sales, marketing, regulations, economics, and the trends shaping the land market across America.
SPEAKER_00Okay, Kobe, and our special guests, let's get started.
SPEAKER_03All right, we're back here with the American Land Seller Podcast.
Doug’s Farm Roots And Research Path
SPEAKER_03Super excited to have our guest today, Doug Bear, ALC from the People's Company in the sunny state of Iowa. Doug, how are you today? Doing well, how's Kobe? I don't know. It's it's you know, it's a great day. I it's two weeks in a row where I've got the name of the person and the company name right, right out the gate. Most of the time it takes me about three shots, so so I'm pretty excited about uh about where this show's going today. And super excited to have you on, but Doug, you are uh you grew up kind of in a cow calf operation, if I remember right, right? Kind of talk about where did you come from and and then we'll just kind of go into how did you get into real estate?
SPEAKER_04Well, thanks, Kobe, for the opportunity to be on here today and share a little bit about my story. But you know, I did grow up in southern Iowa on a cow calf operation that I think probably like most young boys and girls growing up on a farm heavily involved in 4-H, our school was very small. So unfortunately, I only he was a part of FFA for a very limited time. But, you know, being exposed to everything on the farm, you know, I guess I thought the only way that I could have an impact on uh agriculture was to go be a live animal vet or large animal vet. So, you know, I gotta have those high aspirations, probably at a pretty early age and 4-H of definitely kind of how do things work, the science mind of that. So I kind of headed off. I am a first generation college graduate at Iowa State that I was lucky to enough to receive a uh a financial scholarship that helped me achieve being able to go to Iowa State and master or major in animal science. So as my story continued, uh I was on our farm, we did not have a lot of row crop. So it was strictly a cowcalf operation where typically helped a lot of our neighbors baling hay. Of course, like we've been having here weather in Iowa, 95 degrees, heat index, humidity of 110, it felt like. Um, a lot of times I was on the back of a hay rack with long sleeves and everything. So definitely air conditioning is appreciated every day. So, but not being exposed to anything other than um large animal, I kind of made it my goal to make sure that I diversified myself. So in college, I participated in a lot of internships. Um was an agronomy intern, my freshman into sophomore year. And then I actually had an internship at the National Pork Board that really changed my outcome of where I was focused on um being able to achieve rather than me solving everybody's problems. Um I actually participated in a lot of research. And so that kind of geared me up instead of going on to vet school like a lot of my peers. I actually went on for grad school where we looked at water quality impairments in Iowa, especially on a watershed level, could be that uh what was causing some of our water quality problem. And at that time, um, that would have been back in 2007. Of course, water quality is still top of mind with a lot of regulation and regulatory agencies, but I was one of the first that we actually put uh and did a lot of on-farm research. So we'd actually put GPS callers on cattle in southern Iowa looking at um where they were spending their time, the distribution, and just truly gauging and quantifying their level of impact on water quality. And so as as I went through my master's program, I've did a lot of on-farm research, working with a lot of the regulatory agencies, USDA, FSA, the National Soil Tilth, some of those that really started to diversify my background. And then I was blessed to be able to um be designated um as the director of industry relations for the Iowa Beef Industry Council. So that would be the checkoff dollars at work. So every time that we sell a bovine animal, regardless of its age, sex, breed, um, a dollar is contributed by the producer for promotion of the industry. So I was director of industry relations for the Iowa Beef Industry Council, and I was actually the state um beef quality assurance coordinator for over seven years, and then through that, definitely served my tenure there and found my way to People's Company. So that's kind of a short overview of kind of my past, but definitely every time that I get a chance to serve our clients, definitely I draw upon those experiences as well, Kobe.
SPEAKER_03Yeah, and that's a pretty fascinating road to getting into the to the land brokerage world, you know. Like uh you didn't you're like you're like the rest of us, right? When you were five, that's what you were dreaming about was uh being a land broker.
SPEAKER_04Well, and I listen I think some of it is just being exposed to like in a minute. I think the the big thing that all of us as brokers definitely strive to do is like, hey, it's this is a relationship field, Kilby. That like, you know, you grow up and you're a good steward of the land and you take care of your neighbors and stuff. And that's kind of what I found my my niche in c ultimately right now land brokerage. But it's the same whether you're in the beef industry, if you're in the swine industry. It's it's all about those relationships and taking care of your your your friends and your family.
SPEAKER_03Yeah, that's absolutely correct. That uh that relationship is still paramount when it comes to what we do. Doug, like you kind of told us your path into like how you became, you know, got to the people's company part of it. But like let's go a little deeper into that. Like, what actually got you to the point where, you know, like you took a look at at being a land broker and specifically, you know, like the farm and ranch, you know, like the farm sales, I suppose, is is probably a lot of what you do in Iowa because I I don't know that there's a ton of ranch land, but there is a lot of farmland and it's very good farmlands. How did you like going from the beef council to to people's, how did they talk you into joining them?
SPEAKER_04Well, I was gonna say, I guess I a lot of it I relate to my sister-in-law, Molly Aranowitz. So most of you may know her. She's an AFM, American farm manager that way. That, you know, she just said that there was an opening at People's Company under one of our, at that time, one of our top agents. And just she just thought it was a great opportunity for me. And so I literally co-became in kind of a little bit naive of what all I I never I never view myself as a salesman. I never have. I viewed myself as an educator. That's what I truly enjoy doing. And so kind of what dro drew me here is the relationships, but also just the level of details that we have to execute each and every time of sitting down with the families. And it was just it was kind of an epiphany a little bit of just my sister-in-law kind of opened the door of like, hey, so-and-so is hiring here at our people's company. Would you be interested? And so I made a connection, and that individual that that ultimately I worked underneath for three and a half years was Matt Adams. So maybe some of you f are familiar with that. I actually served on his team for three and a half years and definitely learned under him, Kobe. And I trim uh contribute a lot of my success now to him that we learned of just the level of detail that we've that we put in everything, but also making sure that we sit down with client goals and and again me being so science driven. Like I like an A to B process, and I'm sure maybe some of our brokers do too. That but as you'll find out in this, it's it's not necessarily an A to B process. It's sometimes an A to C to a J, back to a B. Like making sure that you do everything that we need to do at every step of the of the transaction. But also, again, it's I I enjoy solving problems. And so that's kind of just I look at this of going typically, we are in the problem-solving industry that typically there's maybe a dispute with a family, or there's a financial struggle, or or sometimes it's it's how do we transfer this piece to the next generation and how do we effectively do that? So that's what kind of drew me here, and that I guess what has kept me here at People's Company, I guess kind of like a lot of brokerages, is there's there's a lot of brokerages out there, but I would say the camaraderie and the collaboration, Kobe. And and I mean, and I would say, I mean, not to pick
Joining People’s Company As An Educator
SPEAKER_04on anybody, but just one of the things that's different about People's Company that I truly appreciate is we are we are told to pick a lane. And what people may be asking, what does that mean? Well, that means that brokers truly are brokers and I don't manage any farms. Whereas if if we've got a client that we need to manage their farm, I literally will hand off that client to one of our farm managers, and and it's really such a collaborative nature that you would think that we typically operate in silos, but that is the farthest thing from the truth. It's I I've never been at a place in my in my tenure of some of those that we collaborate in such effectively for for our where we're at.
SPEAKER_03Yeah, I think and again, like I I think People's Company is a strong company. You guys definitely have some amazing people I know. Um a ton of them from People's Company. And so it's it's uh I always like to celebrate the people that are doing great things in the industry. So I think that uh there's some cutting, cutting edge stuff going on at at your company for sure.
SPEAKER_04And we definitely appreciate that, Kobe. And it's just one of those that definitely our leadership has has worked for. I mean, we just celebrated our 50th anniversary a couple years ago, and so like all of the vision that our leadership had 50 years ago, the where we spun out of a bank in in Indi in rural Indian Indian old Iowa, to now where we're at, we just opened uh our ribbon cutting to our corporate headquarters. So we've we've grown from a small, small and pa shop, I'm gonna say, in the last 50 years to now. We are licensed in 35 states. So and and you typically won't find a lot of residential listings. A lot of times we focus solely on agricultural assets.
SPEAKER_03I think what you guys have done with your headquarters too, now that you mention it, it's been pretty fascinating. Talk about just a little bit on that concept and how that's gone and and you've got a lot going on around that headquarters building most weeks with some, you know, with what is it, an agrihood? Is that what you is that what you call it? Like so, talk about how that's worked out for your for your company.
SPEAKER_04You bet. So in uh we're in the little small town of Cumming, which is just a little uh little short drive from West Des Moines. And so that would have been Steve Brewer, our CEO and president, kind of his vision of be making sure that people can live where agriculture is. So we are just right off the Interstate 35 here in Cumming, that our corporate headquarters, and then you can also see a lot of our agrihood. We're right in the middle of that. And so that's definitely we've got a lot of planned development places, but also every Friday, we also have what's called Friday at the farm, where a lot of the public can come out and bring their families. They can uh I mean just enjoy a time with family, and and it's just so unique that way, Kobe. But um, our corporate headquarters typically we have a lot of family meeting or a lot of meeting rooms down in our uh first level on the ground floor, but then all of our agents, land managers, um, appraisers, they're all up on the second level that we're all basically sitting in the same area. So it's not uncommon for us to have a phone call that, hey, we may need some comparable sales on an area that well, we know the market. Hey, sometimes we want to make sure that we have the best data. So I can literally walk over to an appraiser's desk. They're pretty collaborative in that nature to to share some of that. Or if there's another case that we need to have a farm manager on a phone call, we can literally walk over to their desk and say, hey, this may be an opportunity for to serve our clients better. This may not be a brokerage deal. This sounds more like a they're still needing to do some things with the family. And it just it really helps open the doors of our collaboration across our company.
SPEAKER_03Yeah, that's fascinating. I mean, that the whole concept, and and I think there's that you can go to People's Company's website and go check out what they've done. It's pretty interesting. Concept, and I know that the guys that I've talked to really have enjoyed, you know, maybe a little bit out of the way, but other than that, you know, like they really have enjoyed the new space and and just all that's going on around that facility. So it's a very cool, uh, very cool facility. Let's let's go into you have like people's company has developed over the last 50 years or plus years a very strong national reputation.
SPEAKER_02From your seat, what do you think of the phrase approach to the farm and land sales from a lot of the other brokerages that are out there? What do you think of the secret to their success?
SPEAKER_04Sorry, I'm having a hard time hearing you just say, Cobit. Can you repeat that?
SPEAKER_02Yeah, I was can you hear me now?
SPEAKER_04I can. Yep.
SPEAKER_02Okay.
SPEAKER_03I just said like I was talking about how the the reputation of people's company is really strong nationally. And over the last 50 years, you've really developed a really strong name recognition across the country when it comes to farm and and ranch and land sales specifically. What do you think sets the firm apart from maybe others that are in the same space? You know, kind of what's your secret sauce that that that makes people's company a little bit different than everybody else?
SPEAKER_04Well, I was gonna say, I guess, I mean, and I'm a I'm a little biased, Kobe, so take me at that. But I just, you know, I mean, I guess I'll back up just a step of like, you know, we've got six different divisions in in people's company. And so I guess we kind of look at it as a view of um kind of almost like a carousel, if you will, that like, hey, not every client needs their farm sold, but also going, hey, this is a relationship business. And so our divisions that we break out into our land management, agricultural appraisal, um, we even have an energy management division, crop insurance, um, corporate services, and capital markets, in addition to our brokerage as well. And so I think maybe what sets us apart in some cases is going, I think at the two that maybe um two divisions that maybe other brokerages do not have that I think has has yielded a lot of impact, but also service is some of our corporate services um division where we actually use our national scale, but also we also say that we've got a local uh expertise that provide a full service solution uh for some of our corporate clients that have some like large geographically diverse portfolios that that we typically with corporate services, we typically partner with one of our agents locally. So we have boots on the ground approach, but also being able to serve those larger clients that want one point of contact as well. For example, on some of our farmland management. If we have a client that needs to have crop insurance on some of their stuff, some of our farm managers can organize that on their behalf and help them. So it just kind of streamlines the impact. I think one of the other aspects is energy management. I mean, it feels like there's definitely a lot of emphasis right now, whether that be solar, wind, battery storage, et cetera, that I think a lot of our landowners, especially in Iowa, we've got a generational transfer that the average age, it feels like, of our of our landowners is north
The Agrihood HQ And Collaboration
SPEAKER_04of 60 years of age, it feels like. And so they're being approached with different leases on some of their farms. Hey, would you sign this up? Would you do this? And I think there's just a lot of questions that if we can have provide consultation to a landowner, provide them unbiased information and try to give them the best information and set them up for success. I mean, that's that's typically what I think our industry strives for, but I know people's company definitely hangs our hat on on that service.
SPEAKER_03Yeah, that's I mean, that's pretty fascinating. And you're right. Like I think that that energy, you know, those energy specialists, you know, they are gotta be a huge asset with what's going on in the world today. Maybe even just a reference for people that are are working through whether a data center is going to ruin your entire life if they put it right next door to your home or something like that. And so, um, Doug, let's take a quick break uh and uh we will be right back.
SPEAKER_00The Land Report. The American Land Seller Podcast is proud to be sponsored by the Land Report. For landowners, investors, and land professionals who want more than headlines, the Land Report goes deeper. Market trends, data-driven insight, and long-form storytelling focused entirely on land. This is not residential real estate news. This is land, big land, working land, legacy land. Visit thelandreport.com and see why it remains the most trusted publication in the land industry.
SPEAKER_03All right, we're back here with Doug Bear from the People's Company. And Doug, you know, one of the many hats that you wear. Um, because I think, like me, you're one of those guys that really doesn't like to sit around and be bored. So one of the hats you're wearing right now is you are the current president of the RLI Iowa chapter. I want to get into like I am on the national board this year, and it's been exciting to be a part of that as the chair of Future Leaders Committee, and which you're on that committee with me as well. True. And uh it's been really fun to kind of be in the leadership and to be in the room when they're making some of the decisions. Let's just start with like Iowa RLI. What is your membership? Yeah, I know you're a strong chapter, one of the one of the stronger chapters in the country. What's the what's the vibe? What's going on with the R RLI Iowa chapter right now?
SPEAKER_04You bet, Kobe. I mean, and I guess a lot of it goes to the the leadership before me. I mean, I guess we just continued that they made it such a strong chapter that I guess I inherited a pretty, pretty prominent chapter. Like I think there were six other chapters at our National Lane Conference that were recognized, but um, we did receive the Trailblazer Award, which that's just that's a credit to all of our members that have engaged and and definitely grabbed a hold of responsibilities themselves to to deliver programming that that our that our membership truly needs and wants. And so I think one of the things that really we've really hung our hat on, at least in Iowa, is providing those educational experiences that that we want all of our brokers to make sure that they're coming and getting the latest and greatest um land information. Maybe not cons sitting through maybe continuing education credits that may not necessarily directly apply to them, even though they may need at the end of the year to renew their license as Kopi, but we just have really taken an initiative to make sure that we provide strong educational classes, such as land 101. Um, we typically offer a spring seminar as well for six continuing credits and just bring in a host of different speakers. At that event, typically every year, we bring in our Iowa chapter for our farm managers because a lot of times we we we typically sometimes, even though at People's Company, I've got to stay in my lane of not managing farms. That's not what we have a lot of times for our other brokerages or competing brokerages, that a lot of times the farm managers themselves also sell farms. So we want to make sure that we provide educational experiences for them. So we typically bring in quite a few speakers that can talk about different farm management techniques along on top of real estate transaction stuff.
SPEAKER_03Yeah, I mean, and one of the things I think that you guys do really, really well is you are in partnership with the the state realtors, and you really do have a couple of members that are pretty active in the local chapters throughout the state and making those connections and then providing that education, that six hours education you're talking about, that's open to everybody, right? It's not just your chapter members. A lot of residential agents come and get some a different perspective on real estate, which I think is pretty phenomenal.
SPEAKER_04It it is, Kobe. I mean, we just try to strive that if we're gonna provide an educational experience that we we want to collaborate with all of our partners, whether that be the Iowa Association of Realtors, or opening that up for some of the eastern Iowa divisions or Western Iowa, including Omaha and some of those kind of places, that if we're gonna have an event, as as Kobe, you know, of planning and teaching yourself. You know, I'd rather have a full room rather than just a live very limited classroom. So we want to make sure that we fill it up, provide the educational experiences that that everybody needs, but also take home and and be able to apply what they learned during the whether that's a six hour or a multiple two-day um plane one-on-one class that we offer.
SPEAKER_03Yeah. And I think like what's what always blows me away in the three to three classes that I teach is that how many how many people actually show up for these two-day courses, like and fly in from all over the country. You know, like I just recently did a a class in Wyoming not too long ago, and about 20 people in the class, and they were from oh, you know, Colorado, Montana, South Dakota, Wyoming, Nebraska, you know, that that drove in, stayed at the hotel, had that camaraderie. It's really is a great experience. And since you're instructor for RLI, let's dig into that just a little bit. I know you've had several of the 101 classes. I don't know, do you teach any other classes right now, or is that just one you're focused on?
SPEAKER_04As I say, right now my my my bandwidth is a little limited. I'm a father of four, and my wife's an educator herself. And so trying to to build a business as well as teach and stuff, but typically right now I've only taught Lane 101. There's a couple other classes that I'd like to, but just for where we're at right now, Lane 101 is my my prime, I guess, designated level of expertise. But also it's it's one of those that if we need to provide another class, Kobe, one of the things that I really appreciate about the RLI um national organization is we can pick up a phone and call any instructor that's licensed to teach whatever class, like yourself, if we want to look at some agricultural marketing or if we want to teach about transitional development, some of those type of things, it's not very hard for us to pick up a phone and call one of those licensed instructors and say, hey, we want to offer a different class at this time. Hey, what what works for your schedule as well? So I think that's one of the things that just knowing that I don't have to be an expert in all things, but I know it need to know who is.
SPEAKER_03Yeah. And it I mean, uh, we know all of the most of the instructors. I mean, I I know them all, so all of them are absolutely top notch. I mean, it's pretty humbling to be in that room for training when when you're in there with like, you know, Steve Robertson from land.id and you know, and some of the guys that are in there just are phenomenal teachers.
SPEAKER_04So and I said in a lot of their classes too, Kobe. So it was kind of this this last meeting that you and I were both in was just it was just kind of a humbling thing that, hey, I I learned from these guys that I'm sitting in the room with as well, and whether that beef through a boot camp. And I got my, I would say I got my ALC class, the education done at a very fast pace, but I also took some of the online versions. But I would also say if there's any brokers that have some new agents or then themselves are not uh an accredited land consultant, I mean, definitely set yourself apart from from the other thousands of realtors and and go get that accreditation. Um, I know we increased the threshold of some of the sale proceeds, but that's definitely that's a that's a small hurdle in my mind. But I would say that the classes that I took, but whether they be online or I actually flew to Savannah, Georgia about two years ago and took the land analysis class. I mean, just the camaraderie that I still keep in touch with those individuals that were in that room covering seven different states, whether they be from Oregon and Washington, all the way down to Virginia, like I still keep in touch with those guys and and it's just vitally important to I think to be relevant too. Not only to know what it's going on in the local Iowa market, but also going, hey, what's going on out in the Pacific Northwest, what's going on in the southeast, uh, southern plains. And that's I think that's the vital aspect that we need to continue to keep at the forefront.
SPEAKER_03Yeah, and I it's fascinating too. Like the I think a lot of people think it's just a bunch of farm and ranch real estate agents and realtors, but it's really kind of a like a really huge collection of of people in the industry. Everything from commercial that do a lot of development stuff, which I think is fascinating, all the way to people that are managing farms and ranches to, you know, people that are taking up big lots and dividing them into little lots and selling them. You know, that's that's their whole thing. And so it's it really is fascinating to see like the different stuff because we have friends that are, you know, like in Tampa, Florida, doing develop big giant developments that are, you know, selling millions and millions and millions of dollars worth of land all that they're transitioning into skyscrapers or to sports arenas and stuff like that.
SPEAKER_04So what and I think Kobe, you hit
Full Service Divisions And Energy Leases
SPEAKER_04on it exact the exact word is transitional. And I mean, especially in Iowa, you typically talk about some of the most fertile farm ground in in the United States. However, I would say that we have two of the fastest, five, two of the fastest, five growing cities in the nation, Waukee and Ancony. And I live in Antony, and so you've been seeing in this last five to seven years specifically, and it it really was, I would say, increased during COVID was was some of our people that lived in the city that maybe wanted a small acreage. They started pushing farther out of our golden circle around the Des Moines area, Kobe. And and just I think making sure that we keep relevant on some of the transitional development aspect, what are some of the commercial developers seeing? Because you're starting to see that in Iowa that I mean, we just have two or three of the largest data centers in the nation going in here in Iowa. And so everybody's just kind of just making sure that we hit provide the most information, timely information is relevant.
SPEAKER_03Yeah, I mean, and you know, you talk about like like I have a small development or you know, it's like a basically it's a a couple of lots that I'm getting ready to list in a community that's growing, and to be able to reach out to some of those guys, like, you know, that are in the commercial space that do this every day and and have them not just hang up the phone when I call, but visit with me about my project and what I'm doing, and you know, like whether or not their client is Bucky's or something, that Bucky's might be speculating and they know the people that speculate land for that and buy them up and hold them, and you know, like it just blows me away. Like you just start talking to people, and it's like, well, I I have these guys as a client and they might be interested in something like that in the middle of Nebraska. And let me let's put something together and run it by them. And and so it's just it fascinates me the connections that we actually have through this organization, and so it's it's a pretty neat deal. And I appreciate you serving as the uh the president this year and next year, it sounds like so.
SPEAKER_04I was gonna say I'll I'll be uh taking the home again, but that's okay. But it's also just making sure that we'll reach out to individuals like yourself, Kobe, and just trying to serve our our membership, but also keep relevant too.
RLI Iowa Chapter Leadership And Growth
SPEAKER_03Yeah, and anything I can do to help, you know, like I'm uh in the process right now of developing a seven, uh, seven, three hour just continuing ed classes because, you know, from talking to the Nebraska Realtors Association and some of the state realtors association, they're always trying to find unique CE classes and and so that they can offer their membership. And so, you know, I've kind of gone through with them and said, hey, what are your needs? And let me see if I can develop some stuff. And I think that everybody that's in residential is kind of fascinated with what we do in land. Because if you go sit in those classes, it's always like, okay, well, this is the people that are making, you know, that that are selling the most volume. And a lot of times it's the land people that have, you know, land and commercial that are selling the most volume. Um, and those residential agents get real, real curious about it when they see that. And so and so that that education I think is extremely important, especially, you know, because it's just it's it's interesting to me that people look at a blank, you know, like land and say, well, there's no house on it, so how complicated can it be? Well, because it's in transition possibly, or could be in transition someday, or it's a farm that has irrigation or not, and you know, like how much what's the soil like, all that stuff that goes into it, it it's a lot more complicated than I think a lot of those guys can see.
SPEAKER_04I I agree with you, Kobe, and I and I think the one other approach that I that I've taken probably is I would rather collaborate than compete, quite frankly. And so, like some of the residential agents that, hey, they may have a lead on a land. Hey, we can tag team that so I'm still the expert. We can still you can keep in touch with your clients, and vice versa. Like, I typically have not sold very many residential homes, and you know, it's one of those that I just my background is in agricultural land rather than residential. That I think we I would prefer to serve my clients best of handing that off to some of the more qualified individuals that know those markets and just know that I'd rather have somebody pick up a phone and say, hey, I need help with a client, and whether that be a referral or a tag team approach. I mean, I just find that with RLI across the way of going, hey, I've got a client here that we know that you can better serve our clients here. Let's work collaboratively together. And I guess that's that's just been my whole approach for my, I guess I'm gonna say my early career, just to continue to, you know, if what you give is also what you're gonna receive down the way too, Kobe. And it's one of those of again, it's about serving our clients to the best of our abilities and especially some of the residential agents that we've had in some of our Land 101 classes. You know, I think their eyes are opened a little bit to the breadth and depth that we need to know about, whether it be the soil rating or especially the microclimate around a farm, the neighbors, as well as some of the planning and zoning on some of that. That hey, where who's the contact that we need to go? And I guess that's what puts some of our accredited land consultants in the driver's sheet that we know those contacts are where to go.
SPEAKER_03Yeah, it's it is definitely the going through those classes really does open your eyes to it. And I I think a lot of the fun thing about it is is like I I we all I always have people that are selling residential properties that, you know, like go into that class with their goal of being, I'm gonna get into land someday. And at the end of it, they're like, Man, just give me your card. I'm just gonna refer this stuff to you.
SPEAKER_04You know, and and likewise, right, Colby, it's like, hey, here's my card that I'll refer. I mean, it's just one of those that it just and I think, I mean, and and I know you're seen in Nebraska too, but it's also just going like, hey, you know, how could we best serve our clients in in the most timely fashion? And it's, hey, if you've already got that expertise, let's work together or hand it off to you and and kind of do, and and vice versa.
SPEAKER_03Yeah, just because you have ENO insurance doesn't mean you need to use it, you know.
SPEAKER_04Without a doubt.
SPEAKER_03Let's uh let's go ahead and take a quick break here, Doug. And uh you got time for one more segment. All right, buddy. Well, we will be right back.
SPEAKER_00The American Land Seller Podcast is proud to be sponsored by Iron Horse Land Company. And Ironhorse, land is not a side business, it is all we do. From farms and ranches to recreational and development properties, our team brings deep land expertise, boots on the ground experience, and high quality marketing to every listing. Whether you own land today or are planning for the future, Ironhorse Land Company helps landowners make confident, informed decisions. Visit Ironhorse Land Company.com to learn more.
SPEAKER_03All right, we are back here with Doug Bear from the People's Company. And Doug is out of the Des Moines, Iowa area. His office used to be in Clive. That's what I remember forever. And now you've moved to Agrahood. Yep. Which I feel like there should be some like rap songs coming out soon about the agrihood, you know, like but uh there probably should be, but there's not. So nobody's singing about it. They sing at it though. I heard there's concerts on Fridays and all kinds of fun stuff, and just creating some energy behind agriculture, getting folks out to learn about where their food's coming from, and it's really, really sounds like a very cool experience. But uh okay, so let's shift some gears here. What is the most memorable or unexpected farm sale you've ever been involved in, Doug?
SPEAKER_04Wow, we uh we are going into the archives on this one. Oh, I should have expected this one. I would say you got anything for dirt debacles on RLI's podcast. You know, I I thought about that last week when we were on that call with Kat, but I would say the one most memorable transaction that I remember, like to the T was in Iowa, if there's not an heir to the farm when it sells, it typically we have to go back and trace the lineage. And so I remember selling a Boone County farm. It was, I think, a total of 79.35 acres. And the uh the gentleman that owned it, he was 93 years of age when he passed away, and his sibling passed away, I think, two years before him. And so he had no kin in in line, Kobe. And I remember sitting in our people's company room for over two weeks, tracing the lineage and getting on to genealogy websites and stuff, so we could truly execute that sale was because we ultimately had to have the heirs' names, their addresses to contact them. So I think when we were said and done after two weeks of that research project, I think we had over 120 heirs at some fractional ownership that it went back up to lineage and stuff. So that was one that um I'll also say I was proud of that one, of the level of detail that we had to execute on just to be able to sell that farm. That that's not going to be on a front cover of a newspaper or a blog article, but that was one of the most memorable ones that I remember doing. And then when we were all said and done, like we sold that farm, and when we had the the trustee that was designated, sent out 120 some checks to all of the heirs. That that was a f that was a full day, Kobe. So that was probably the most memorable, but I would say probably the for me the most impactful again. Like it was that first farm that I was able to sell with my first name on it that just the family trusted me with their most I mean, and it was an 80-acre farm, Kobe, but to me that was the world, and some that from that experience has just been we we typically say deals breed deals, and I'm sure everybody knows that. That just I went in with full expecting that I don't think I made a penny on that sale, Kobe, in the grand scheme of things, but we went through and marketed that I sold it, and that's helped out to get me where I'm at today, too.
SPEAKER_03Yeah, and that's kind of a I mean, and again, I I think the clarification there is if you die without a will, right? Like that's not you actually.
SPEAKER_04So we typically talk about succession
Land Education For Agents And Referrals
SPEAKER_04planning and stuff. That that is a real level that needs to be implemented, especially in the agricultural industry.
SPEAKER_03Well, and I think that kind of ties into my next question, which is generational transition is a huge topic right now, right? Especially in our world. How often, again, are you guys dealing with multi-generational farm families that are coming to you that you spent you said this, I think, in the first episode that there's a lot of stuff that you do that is not, you know, pointed directly to the sale of a of a property or management of a property. You know, I know people's company is deep into research of the public. How much of this are we doing when it comes to generational trans transitions?
SPEAKER_04You know, and I would say right now, agricultural assets for it's a trillion dollar asset with a T. So like when you think about that, but we know that over 85% of the land in Iowa is going to transfer to someone, maybe not be then next generation, but to someone in the next five to 10 years, Kobe. When you start thinking about it, I guess the thing I jump to is who is going to buy that? Now, we typically have farms now, State Fair will be starting here for Iowa in the next couple of weeks that there's going to be over 200 families that are going to be celebrating heritage credentials on their farm. That's 150 years. So we work through whether that be passing the farm or passing the generational keys from grandpa to dad, or whether we need to look at skipping a generation, going from grandpa to son or grandmother to granddaughter. I mean, I think the other aspect is that we're really seeing, specifically in Iowa, is the 65 and above female landowners is by far is the majority of landowners. And so making sure that we plan who's that next generation going to come into the to own the farms as well, Kobe.
SPEAKER_03Yeah, and I think like to your point, I think probably in Iowa, you have a lot more investors, maybe that own land than we have in Nebraska. It's not that we don't have any, it's just it's a real it's a real tough sell for us to try and get an investor excited about pivots and you know all the stuff that they have to do. You know, for you can buy uh some really nice dirt in Iowa and not do a whole lot to it, you know, and make a very good return on your investment. But again, there are those people that are that are transitioning, you know, they're you know, they're either passing away or they're retiring and the kids aren't around. And, you know, like one of the observations, I guess, and this is a good question for you, is like I have noticed that because of how poorly the generational transfer went from farmland from, you know, like the silent generation to the baby boomers, a lot of the baby boomers are not wanting their kids to go through that, you know, and so they're just I'm gonna liquidate it or I'm gonna put it into a conservation program or a trust or something like that. That's I'm gonna tell the kids what's exactly gonna happen with this land, and I'm gonna make it very hard for them to make any sort of adjustments so that they don't hate each other and they can hate me when I'm gone, right?
SPEAKER_02You're spot on.
SPEAKER_04We are, Colby. I mean, and I I would say probably whatever scenario you can think of, we've experienced some of that as well. I mean, I think, I mean, and I think through what what changed in our industry. I mean, during the 80s, that's when I was born. That not that my family discouraged me from going into agriculture, but I would say there are a lot of families that really kind of started saying, hey, let's look outside of farming or other career paths. And I think that's what we're really kind of coming, what's coming home to roost right now is is you're not seeing a lot of those family members that are maybe in that early 30s to early 40s that has a level of familiarity with farms. They don't know what to do sometimes with when they do inherit a farm, it's immediately, hey, let's liquidate it, versus in some cases, go in Iowa where we get 30 plus inches of rain that we don't need to rely necessarily on pivots, Kobe. Like, hey, that's a generational asset that, you know, unfortunately, some of the times we see families that, hey, when you divide that rent check by 12 heirs, it's easier to divide a one large check and then let them reinvest it. But also just trying to work through every scenario with families because a lot of the families have very different goals, even sitting around the table, but could be from your experience too. How many of them actually share that with their family members? And so sometimes it feels like we're counselors more than land brokers of just going asking the right questions that the grandpa or even grandma share what they envision. And in some cases, it is that they don't want the family to be in turmoil or fight. Let's let's just sell it now and be done with it. The challenge that we really look at right now is, you know, the land values have appreciated at such a rapid rate during COVID that, you know, you almost want to plan, use the succession planning to receive that stepped up basis on some of these forums. Otherwise, the families have such large capital gains, Kobe, that they're writing a check to the government, which is as we know in agriculture doesn't go very well either. So definitely trying to work on with those families of going, hey, is there is there a plan in place and how it works for some of that?
SPEAKER_03Yeah, that I mean, I think that's huge, is like being able to offer that education where, you know, like I I go to expos and a lot of times, you know, like I just had a lady that has a large ranch operation, her and her husband are, you know, nearing 70 and wanting to do something with their retirement, and they're not really sure, you know, they've got some energy leases that are associated with the property that they're on, you know, and so it's not just clut cut and dry, you know, and so one of the ideas that I came up with, because she's like, We'd really like the kids to have a place that they can come with their family.
SPEAKER_02Absolutely.
SPEAKER_03So even though none of them are involved in the ranch, but they can come with their family and they can have some time. And I'm like, well, I said I've seen people carve off 50 acres, you know, and turn that into like a family, you know, picnic area or whatever. Yep. Cabin, whatever they want, and then sell off the rest of it and put the money into it, put some money into a trust to protect that little resort that the family has for the the years to come. And so she thought that was a pretty fantastic idea because realistically, you know, what's five, six hundred thousand dollars in a trust to maintain taxes and upkeep on a, you know, on a small acreage, yeah, when the family can have that connection to the to the land that they they spent their entire you know, generations putting together. So it's very kind of a you know, it's just interesting to kind of see what the pushback is and what all the the issues are when it comes to that generational uh transition. Let's shift gears just a little bit. Technology has become like has changed so much even in the last five years. Without a doubt. Yeah. What's one tool or approach you've adopted in the last couple years that made a real difference in the results for your business?
SPEAKER_04Well, those and I would say that that's some of our farm worth proprietary software that we developed here at at People's Company here, Colby, that I I just credit our our leadership to have the four like fourth thinking to develop that, that I can literally go on Farm Worth and literally click four buttons and I can have a map binder pulled that most of uh most of the industry I think is using surety or some sort of that like that. But I can have a map binder pulled on a farm within 30 seconds, know exactly where the transmission lines are located at a farm, that if there's a chance for any battery development or anything like that, I
A Memorable Sale With 120 Heirs
SPEAKER_04mean it's been cutting edge that it's even so that I have it on my phone, and a lot of times we have Onyx or some of those type of platforms, rather than going to 14 different Websites, the local assessor data to check taxes. Like we can go to one spot and have all of that data pushed into one spot, Kobe. That's I would say that that's that would be probably the most innovative thing that I've experienced here the last probably two to three years is just our company's farm worth software that just it makes my job so much easier, especially as you and I spend so much time in a vehicle traveling. I can pull over to the side of the road, have my hands on speaker hands-free set, pull it up on my computer or on my phone, whichever we do, and I can have the map binder downloaded within like 30 seconds and be able to talk knowledgeable or at least understand what some of our clients' goals are. And I still remember we just completed one auction and we were driving away, and a guy called us and said, Hey, would you be interested in looking at our farm and giving us recommendations as well? And we pulled over to the side of the road and figured out where their farm was located, and we were able to put together a proposal for them in in a very short time and and very knowledgeable of that of that market.
SPEAKER_02Yeah, that's very cool. Are you uh are you using AI and all? Or what what what specific AI tools are you digging into?
SPEAKER_04You know, and I'm listening, I I serve on the future leaders committee with you, Kilby, and and so I know Pathcrest is kind of one of those that we're at least experimenting on, but it's just been you know, I wrote quite a few blogs that I wrote the format of exactly the way I wanted it to, but and told it quite a few commands to extrapolate from PDFs to compile that. That I mean, I I think the the possibilities with AR AI are endless right now. It's just trying to make sure that we implement that because I don't think AI is gonna take away our jobs. I think it's the agents that utilize it and incorporate it in such a way that that we can be cutting edge, I think is gonna better serve our clients very fast. So I mean, I know we've got, I don't know, all the platforms. You've got Gemini and Copilot and and ChatGPT that I think everyone serves a different way, Claude, sometimes depending on what we need, but just trying to figure out a way that uh we can be efficient with our times as well.
SPEAKER_03Yeah, I I think it's uh I I keep hearing a lot of people say this, and this is I guess the best thing that I believe is I think there's a lot of people that are afraid that this is gonna replace them. And I think that the truest words I've heard spoken about it is I think that brokers that are using AI effectively are gonna replace you. But I don't know that AI is gonna be able to replace the land broker or even a solid residential specialist. I just if you know what you're doing, you're there's always gonna be value for you. If you're if you're you know calling it in every day, phoning it in every day, and trying to get away with uh BS and people, that's I think where you're gonna have your biggest problems is going forward is is yeah, the you know, it's pretty easy. If you're making it easy for AI to replace you, then good luck not being replaced by it.
SPEAKER_04But I think you hit spot on there, Kobe. I think a lot of it is just making sure, I mean, not everything that AI comes up with is factual as well. So making sure that we do our job of of fact checking as well, but also just like, hey, you can have all of the best results, but if you can't deliver that to a client or share that, that we're we're leaving some information on the table as well.
SPEAKER_03Yeah, and and I think uh your point here that I think everybody's gotta remember is is like AI, I think my best comment I've heard about it, it'll get you 90-95% of the way there. But you also, it's just like Google, you better look at where the map's taking you because you'll be in some rough country down some dirt roads if you're not paying attention, you know, if you don't will at least fact-check uh Google Maps where it's gonna take you.
SPEAKER_04So I I was gonna say I've been using it at least kind of to start, at least giving me some bumpers, if you will. But then just me taking a deeper dive that at least it can save me two, three hours on the front side of just in an environment that at least kind of gets you me to a starting kickstart as well.
SPEAKER_03Yeah, Steve Atkinson from Pathcrest uh can constantly talks about it being an executive assistant. And I think that's
Succession Planning And Tax Reality
SPEAKER_03the best way to look at it. Like sit it over to the side, tell it what you want to know about something, make it do the research, make it make it look pretty, make it do all this stuff, but in the end, nobody's gonna sue Chat GPT if you screw up, you know, soil or something like that on a property because you're not paying attention.
SPEAKER_04And maybe not everybody's a geek like I do, because I I enjoy re reading the research articles on stuff, but not everybody's got time to read the 40 pages versus you could put 40 pages into that and give it a synopsis, and it at least gets you, like you said, 80% of the way there that at least helps you as a launching pad too. Yeah.
SPEAKER_03Well, as we finish up here, I got one last question for you. Okay. I've got a couple of newer agents that we're getting ready to onboard. Okay. That have have been, you know, like in the business in like less than two or three years, all the way to one that we're hopefully gonna onboard um in the next couple weeks. That's just getting his license. Okay. Sounds good. And I like to give them homework to make them listen to this podcast. So I want to know if you could give one piece of advice to a newer land broker who's just getting started in the business, what would that be?
SPEAKER_04That's a tall question. I would say getting started. I had a pretty strong mentor tell me, listen more than you talk.
SPEAKER_03I like it.
SPEAKER_04And and I think, I mean, and it's probably not the same thing that we're doing today on this podcast, but you know, I've if you find yourself talking over 80% of the time, you're probably not doing your client justice. You should be asking the questions. And I mean, I think Kobe it goes back to our our teaching and education aspect that like you ask a question, and I'm okay with silence. Yeah. And and make people because I mean, all of us learn very differently, or all of us process things differently. I'm sure everybody sitting here listening to our podcast can can remember a family reunion that the crazy uncle is talking about every story, and everybody's going, okay, let's land this plane, versus, hey, or be that agent that when you do speak, that you're very well thought out, you have a lot of things to say. And I mean, and Kobe, I mean, I know underneath you, like you've got a wealth of knowledge that you can share with your with your agents as well. But I would just say for them to tag team along with some of your big meetings that you're going with, that's and just and just listening. That's I think that's more critical now than ever before.
SPEAKER_03I like it. I'm stealing that. I don't know that I've had that added, but that is very good. You know, like I think like a lot of it is going just piggybacking on your listening is how do you figure out what the real goal is if you're not trying to hear what their goal is, you know. Like a lot of times your assumption is when you're called into a living room to talk to a family about their property, is that your assumption is they want to sell it. And and if you make that assumption, you piss off a lot of people because you know, like a lot of times it's they don't want to, they feel like they have to. And if I've got this basket full of tools that we can help you not sell it, I think what is it, Hall and Hall? Mark Johnson tells me that all the time that their goal is if you can keep it, you should keep it, you know. Like, why would you, you know, and so in that spirit, I think listening is a great thing to tell young agents is to to in order to get to the point where they they're understanding what their clients are trying to do. I mean, sometimes we can just partner them with somebody that's gonna uh solve that problem for you know, on on the other side of that too, there's a lot of people that want to sell and that think they're gonna give most of their money to the IRS. And we have those tools too, where I can help you sell that land and 1031 that into an apartment complex in Chicago or a warehouse in Phoenix, Arizona or something, and have some income, monthly income that's fairly good in a lot of cases, that saves you from paying those absorbent taxes that you don't want to pay. So absolutely.
SPEAKER_04I was just saying I would say probably two of the best that I think in the industry um are actually with our company too, Steve Brewer and Adam Christ. I mean, both of those were recognized as to one of um two of the top 20 brokers at the RLI conference here. And I've been working really closely with Adam and I served a little bit of time on Steve's team as well, and just seeing them negotiate, but it's basically they're they're great at asking those questions and then listening. So that would be my that would be my advice, whether we're brand new in the business or if you and I have been in it for for me looking up close to a decade or even multiple decades, it's just like you said, being able to reach the client where they're at. Because you're you're right, Kobe. If if it's more of finding out where we need to land at, that that's where we've got to know. It's we're serving clients and we're not serving our, we're not self-serving.
SPEAKER_03Yeah. And I like everybody laughs at me because I coach my guys. We're going through a a four-week session right now on the listing, right? So last week we're first week, and we talked about where you find them. You know, like where do you farming for listings and how do you go far find and and a part of that
FarmWorth Tools Plus AI With Guardrails
SPEAKER_03is, you know, like not every listing is is meant for you, right? You know, I don't I like I keep trying to tell my guys, I was like, I know it's exciting to put your f sign in a farm, but if that farm doesn't sell, it's gonna do more negative for you than it is positive. And you have to be able to A, make a living off of what you're doing. You can't do it for free, and B, you have to be able to sell it. And so if you can't match expectations up from a seller up to the realities of where the world's at, so you know, to the point where you can accomplish their goals and make them happy, all you're gonna do is end up in two, you know, two months with a seller that hates you because you're continually Well, no, I think I think you hit on my second piece of advice, Kobe, is just like, I mean, I think for some of the young agents that's getting started, I remember I mean, I'm working on I think close to seven or eight years here.
SPEAKER_04So I still consider myself new in the business and I've always got something to learn. But you know, sometimes the best deal is one that you walk away from. And I think that's that's your point that you just hit on. That you know, if if sellers got such high expectations, there's no way we're that's it's what the market dictates that yeah. So that would be my you you echoed my second point to him as well.
SPEAKER_03Doug, thank you so much for taking the time today. Um, we will put the uh link to the People's Company uh page with your information, or if you want to send me something, I can put that in the show notes for all of the stuff that we're putting out there. If guys want to get a hold of you, what's the best way?
SPEAKER_04Probably my cell phone or my email. That would probably, I mean, typically, I'm sure like Kobe, like you, it's it's on me 24-7. That's it is we live and breathe off of it, but it's also just I want to make sure that I respond in a timely fashion, and and I think that's the most professional thing we can do. And so I guess the only other thing, Kobe, for me to throw out there is every everybody that's listening. Um, I just wanted to personally invite you to our 20th annual land investment expo that we'll be hosting here in Des Moines, Iowa. I know coming to Des Moines in the middle of January is on everybody's top priority, but I think definitely if you guys can slate on January 12th, um, I think it's definitely a you have to be here in Des Moines for a land investment expo. Typically, that event sells out every year. We typically, I think last year were close to 1,600 attendees, both online and in person. So I just want to put that as a personal invite for everybody to come. It's our 20th anniversary. So there's gonna be a lot of special speakers. You can check out our website, just Land Investment Expo, Kobe, that it's uh it's a tab off of People's Company website. But just to put that on their docket to be here, we've got some great speakers lined up. And it's definitely a who's who of the land industry that there are going to be some family offices. All of our all of our software companies, they'll all be here too. So for some of you that are new in the business, come rub elbows with an individual, ask them questions. We always have a trade
New Agent Advice Listen More
SPEAKER_04show set up as well. So but again, Kobe, I appreciate the opportunity to share a little bit of expertise that I've learned from you along the way.
SPEAKER_03And always always a phone call away. You know, Doug, I think there's a lot of uh friendships that I've forged in this industry, and uh, and I love the people that make me better at what I do, and you're definitely one of those uh people in my life. I I I like the the fact that you care about the industry and about the people, and so yeah, it's been uh it's been really great to get to know you. And I will put the information also to the uh the investor, land investor expo or slash uh education meeting that happens in January. I'll put that right in the show notes that people can click and go check that out as well. Thanks so much for for being here today. And for everybody else, we will see you all down the road.
SPEAKER_01Thank you. As we wrap up another episode of the American Landseller Podcast, thank you for spending part of your week with us. For more episodes, resources, and updates, visit www.americanlandseller.com. And be sure to find us on your favorite podcast platform. If you found value in today's conversation, please like, subscribe, follow, rate, and review the show on whatever app you are listening or watching. It helps more landowners and land professionals find the podcast. You can also connect
Land Expo Invite And Final Takeaways
SPEAKER_01with us on social media for updates, new episodes, and behind-the-scenes content. Until next week, Kobe and Britney wish you success in all your land endeavors. God bless you. Have a great week.
SPEAKER_00The American Land Seller Podcast is brought to you in part by the Land Report. The Land Report is the premier publication covering land ownership, land market, and the people shaping the future of land in America. From farmland and ranches to timber, conservation, and legacy properties, the Land Report delivers deep reporting, trusted insight, and long-form storytelling focused entirely on land. Learn more at thelandreport.com. We are also proud to be sponsored by Iron Horse Land Company, a multi-state land brokerage specializing in farm, ranch, recreational, and development land across the heartland. Built by land professionals, Iron Horse Land Company sets the iron standard through high quality marketing, real world land expertise, and a boots on the ground approach that puts landowners first. To learn more, visit Ironhorse Land Company dot com.
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