The foundation for our database began decades ago when our brokers began visiting rural courthouses in Virginia to track all of the land sales of 100 acres or more in select counties. We found that not all sales are listed through the Multiple Listing Service that most agents use. Therefore, we found it imperative to visit the source to get all of the information in an accurate, timely manner.
This created a valuable database of comparable sales and enabled our brokers to have a pulse on the market. As our brokers expanded, and Commonwealth Land grew, we became the source for large acreage, rural land sales.
Our research has created a database of comparable sales, as well as knowledge of who the active buyers and sellers are, as well as the foresters, farmers, appraisers, attorneys, lenders, surveyors, financial planners and accountants that advise landowners on their assets.
Today, we invest heavily to continue this research across the region, multiple times a year. We still visit courthouses and have ongoing relationships with the county employees that know everything happening in town. We also supplement this information with additional third party research firms, as well as economists that help us understand trends and forecast the market. Furthermore, we have an IT department that organizes our raw data and a marketing team that leverages this information. The benefit to our clients is that it helps them achieve their desired results more quickly.