Unlock better and quicker farmland valuations with RangeAg

RangeAg 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 RangeAg technology.

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.

It takes a few seconds – and just a couple clicks – to run an Automated Farmland Valuation Report through RangeAg. 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 beat your competition!

The Automated Farmland Valuation 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.

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.

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 customers. 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.