Value Farm Assets Quickly
Tim Hammerich
News Reporter
Determining what your farmland is worth can be a burdensome and expensive process. New technology hopes to make this cheaper and easier for farmers. Dr. Aaron Shew is the data science director at Acres. He says they acquired a new company to help farmers value their assets without breaking the bank.
Shew… “We acquired a company earlier this year called AgValuation, and so AgValuation is a low-risk collateral evaluation tool, so it’s not an appraisal but it can be USPAP certified, so the governing entity for appraisal principles. So right now, we have that available and we can serve that need independently through their evaluation tool, but what we plan to launch middle of next year, we’ve designed out a really great user interface for this and we’re building out the backend to meet these needs now, is a tool for a landowner. As long as you have some information about the property of interest, as long as you have that info, you can walk through this tool in about 30 minutes for a few hundred bucks and get your evaluation done. And this is already being used by lots of folks in the farm credit system, it’s being used by a lot of alternative lending companies, and a fair amount of ag banks.”
Shew says this tool is currently available on their website, acres.co, and they plan to add more sophisticated versions of this technology to their website over the coming months.
