There are only so many ranches of this magnitude. But somehow, they continue to hit the market at a regular rate.land company, spoke to the Texas Standard about what’s driving the trend. Listen to the interview above or read the transcript below.Texas Standard: One of the things your business specializes in is sales of these ultra-high value ranches. Why have more of these seen appear to be hitting the market of late? I think the biggest difference is, is just generational change.
At that scale, it’s actually it will not be people that’ll cut them up. It’ll actually be people that are buying them and add on to them and or for the most part, a fractional percent of their net worth. At some level, but they’re not interested in the daily work they’re interested in and the management of it. They’re interested in somewhat of the lifestyle, they’re interested in somewhat of the culture of it, and owning something that doesn’t erode or degrade or devalue. So they all have some level of interest in the ranching idea or the farming idea, but they’re certainly not the types that are generally going to get out there and get sweaty and dirty every day.
Just the fact finding alone of understanding the assets individually and cumulatively – how that comes together as a package and then the marketing, photography, videography and title work and all those things that need to be done to make the sale actually possible takes a long ramp. It is generally a longer process of of months or even years to bring those things to the market.
Why is why is that? I mean, one of the reasons I’m a little struck by this is because demand for housing is so great that you’d think that there’d be an eager market to try to satisfy that demand. But also, these days especially doesn’t seem like there are that many people holding out money looking to buy ranches.One of the rules in real estate is scarcity. And so there’s just not that many of those true legacy holdings that are available to be purchased.