This three-hour course offers Michigan real estate professionals essential knowledge to succeed in rural property sales. Participants will gain expertise in brokerage and valuation, explore financing strategies and learn to navigate land and water rights, environmental factors and zoning requirements effectively.
By the end of the course, students will:
- Recognize the challenges of agricultural brokerage compared to urban transactions
- Address the personal and financial needs of agricultural clients
- Identify how soil quality, water resources, crop yield and livestock productivity affect farm and ranch property values
- Successfully use different property valuation models, including Income, Cost and Sales Comparison methods
- Analyze the effect of environmental laws on rural property values
- Write and interpret contracts with clauses for water, mineral and crop rights
- Explore various financing solutions for agricultural transactions, including grants, traditional loans and alternative funding opportunities
- Understand the relevance of metes and bounds in rural property descriptions
- Evaluate the role of zoning regulations, infrastructure and water rights in farm and ranch real estate transactions
- Guide rural property clients through the buying and sales process, ensuring compliance with industry regulations
Course Format: Text
Credit Type: Elective
Course ID(s): 138878 (91397)
Approved By: Michigan Department of Licensing And Regulatory Affairs - Professional Licensing
- Farm Brokerage
- Introduction to Farm Bureau [9 Activities]
- 01. Hour 1 - Understanding Farm and Ranch Brokerage
- 02. Evaluating Geographic Location and Regional Climate
- 03. Balancing Environmental and Geographic Risks and Resources
- 04. Ranch Infrastructure
- 05. Farm Infrastructure
- 06. Financial Considerations
- 07. Mineral Rights
- 08. Environmental and Conservation Factors
- 09. Local Laws and Zoning Regulations
- Review Quiz #1 (10 questions)
- Farm and Ranch Valuation [6 Activities]
- 01. Hour 2 - Farm and Ranch Valuation - Introduction
- 02. Farm and Ranch Characteristics
- 03. Approaches to Valuation
- 04. Financial Analysis and Projections
- 05. Special Considerations for Agricultural/Rural Property
- 06. Communicating the Valuation
- Review Quiz #2 (10 questions)
- Farm and Ranch Contracts and Financing [13 Activities]
- 01. Hour 3 - Farm and Ranch Contracts and Financing
- 02. Zoning and Land Use Regulations
- 03. Financial and Legal Considerations
- 04. Environmental and Conservation Factors
- 05. Inspection and Appraisal Process
- 06. Contractual Special Clauses: Purchase Agreement Terms and Conditions
- 07. Traditional Lenders
- 08. Government Programs and Agencies
- View Additional Activities
- 09. Private Financing Options
- 10. Cooperative Financing
- 11. Other Financing Options
- 12. Cash Deals and Large Down Payments
- 13. Financing a Farm and Ranch Property
- Review Quiz #3 (10 questions)
- Introduction to Farm Bureau [9 Activities]
- Course Completion
- License Upload
- Mandatory Questionnaire
- Certificate of Completion
- Guaranteed Next Business Day Reporting
