We’re on a mission to make the farmland valuation process simple, online, and instant with Range.Check out Range App Now!
Now you can quickly take action on some of the most important decisions affecting your farm’s future success and profitability – whether to buy or sell your farmland, and at what valuation. Range is a set of farmland intelligence and data management tools providing real-time data and transparency, including our Automated Farmland Valuations tool.
Fast and rapid valuations of farmland properties, and accompanying insights let you make powerful decisions quickly. These valuations are a better use of resources than traditional appraisals for many circumstances. The customers that we serve value speed, innovation, consistency, and accuracy in becoming more successful.
Rapidly assess multiple properties when considering farmland purchases and sales. Now you can beat the competition with better information and quicker decisions.
Effortlessly streamline the collection and processing of large sets of data with efficiency – from both internal and external sources. Derive precise valuation metrics as a result.
Consistency & Credibility
It is tricky to compare two traditional farmland valuations, when the underlying method and data sets often vary. Now you can have a consistent and repeatable process that promotes unbiased calculations that always take into account key data sources. Easily understand how we compute farmland value.
Flexible to Meet Your Needs
This digital farmland mapping solution can be used as a standalone product, or the farmland valuation model can be integrated into your own technology platform through use of our API, whichever is the most convenient to you.
While there is a cost associated with Range for mortgage companies, we make this powerful tool free for farmers. Just one way in which we truly offer our Growers an Edge!
How does Range value farms?
Range uses Automated Valuation Models. These are computer programs that may utilize both statistical models and complex machine learning techniques to value assets. Such models use transactional history and other information about the assets, such as asset characteristics, local market information, and price trends, to determine an estimated value.
AVMs may seem super academic, but they have the power to dramatically improve people’s lives. Growers Edge has now invested tremendous resources into developing this technology for specific use in farmland valuation – Automated Farmland Valuations. It’s time for America’s agriculture sector to reap the incredible benefits of this innovation. Automated Farmland Valuations are an integral part of the Range technology.
What kind of land can Range be used for?
This technology can be used to value bare ground farmland, meaning that the property does not derive a significant amount of value from buildings, homes, etc.
How long does it take for Range to determine a value for a property? How does this affect the timing of the land purchasing process and other key decisions?
It takes a few seconds – and just a couple clicks – to run an Automated Farmland Valuations Report through Range. This shaves several weeks off the land purchasing process, importantly reducing the time to approval post-appraisal and allowing a rate lock much sooner. This means you can close on opportunities faster and better position yourself to win when there are multiple potential buyers!
How do Automated Farmland Valuations compare to the traditional appraisal process, in terms of cost and quality?
The Automated Farmland Valuations process saves a significant amount of money, since the property does not need to be physically assessed in person. The cost of an Automated Valuation is a fraction of what an appraisal would cost.
Traditional appraisals have a lot of potential for human error and opinion. On the other hand, Automated Farmland Valuations are data-driven, and have less room for error and bias.
Our goal is to serve interpretable models – which means that the reasoning behind the valuation can be easily understood so that you can trust the output. No black boxes here! We use advanced scientific processes to ensure the output is rigorously tested and reliable – our models undergo extensive geo-temporal (location and time) testing, including sensitivity analysis. Automated Farmland Valuations are not always better than traditional appraisals. Instead, they are a better use of resources in many circumstances.
What resources went into creating the Range technology?
Ag-innovation involves mobilizing a lot of complex resources and players. Besides the massive research and development expenditures, as well as partner support, Grower’s Edge has a team of experts fully focused on creating this technology and ensuring that it accurately and efficiently serves its purpose.
This team includes farmers, data scientists, software engineers, geospatial data engineers, environmental scientists, and economists.
What are the limitations of Range?
We not only put a valuation on farmland but also provide comparable sales and a confidence rating. The confidence rating represents the quality of the comparable used for each specific valuation. In the majority of cases the confidence rating will be high and mean that the report can be relied upon, however, the model confidence and range may also indicate the need to get a traditional appraisal.
We work hard with and for our users. We are constantly working to improve the accuracy of our models and to feed them new geospatial data for ongoing refinement. When it comes to technology, we believe that staying on the cutting edge requires continuous investment and attention, and our engineers and scientists come to work passionate to deliver.
Imagine all of the mental and physical clutter related to the farm loan application process simply off your desk. No more time spent chasing bits of information and manually assessing a loan application. Our digital Farm Mortgage Platform manages it for you. Now you can focus on the best parts of your job - like building your loan portfolio one relationship at a time. Also, go ahead and take a coffee break, you deserve it.
We will be retiring Farm Manager soon. Please contact us with any questions or concerns, and for information about our other agriculture fintech and data solutions that can help you build a more sustainable farm.
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