2025 Sales: > $1B

Who: The largest provider of forestry consulting and land-focused real estate-brokerage services in the US, with 51 offices in 25 states. We focus on investment-grade timberland, recreation, agriculture, and conservation properties. We have more than 300 team members in our consulting firm and 50 real estate team members who focus exclusively on land. What was your take on 2025? The year finished strong,
surpassing early expectations across all regions where we operate. Timberland activity in the US remained robust, with strong appetite across buyer types. Near-term timber-market softness did not materially change buyers’ long-term outlook for tim-berland, as values generally continued to rise on expec-tations of a housing-driven timber-price recovery.

How is 2026 shaping up? The timberland real estate outlook remains positive, supported by continued capital commit-ments across buyer types and the expectation of a strong pipeline of opportunities in the marketplace. Sale-process participation may be below the record highs of 2020 to 2024, but demand will persist, particularly for assets with quality attributes for management and value creation, and sustainability for their communities.

What was your take on 2024? The year ended on a strong note, surpassing early expectations across all regions. While available properties on the market remained limited, those that were listed performed exceptionally well. Pricing and valuations continued to rise, particularly in the timberland sector, with high-quality properties exceeding performance expectations

How is 2025 shaping up? The first quarter was exceptionally active, with more large-acreage transactions on the market or in the pipeline

2025 Sales: $100M–$250M Who: An adviser in land investments, management, and sales. We serve institutional clients, private investors, and landowners. Our specialties include timberland, recreational retreats, ranches, and rural estates. We provide acquisition and portfolio strategy, marketing, disposition, and property management.

WOW! Our Compass West Land Sales division completed the sale of Valley View Ranch, a 5,500-acre working ranch in Polson, Montana.

What was your take on 2025? We saw significant demand from investment buyers who were targeting rural development properties and opportunities to produce non-timber income.

How is 2026 shaping up? There will continue to be significant demand from large-scale buyers pursuing a broad variety of mandates for investment and conservation objectives.

2025 Sales: $250M–$500M

Who: A network of advisers focused on the acquisition and sale of working, recreational, and residential ranches. We support clients through a range of transaction complexities and variables that may impact any land investment. These efforts are amplified through local and cross-market
collaboration, along with a broad marketing reach and global connections.

WOW! Listed a 120-acre property in Jackson Hole, Wyoming, that has been in the same family since it was homesteaded in 1889. It is divided into three 40-acre deeded properties and is used for cattle grazing and hay production. The property offers unobstructed views of the Teton Range and contains the remains of Jackson Hole’s first schoolhouse, which was built in 1895.

What was your take on 2025? It reflected a transition toward a more balanced land market following the extraordinary pace of transactions seen earlier in the decade. While overall transaction volume moderated in several regions, demand for high-quality ranch and recreational land remained resilient, particularly in markets offering strong lifestyle appeal and long-term land-stewardship opportunities. Across our broader book of business, we observed a clear shift toward quality over quantity. Legacy ranches, productive agricul-tural land, and properties offering conservation or recreational value continued to attract highly motivated buyers. The result has been a market characterized less by rapid turnover and more by selective, well-capitalized purchases of exceptional properties.

How is 2026 shaping up? We expect the market to be defined by ongoing scarcity and a continued flight to quality. In the Mountain West in particular, competi-tion for recreational ranches is intensifying. This is fueled by desirable lifestyle factors, limited inventory, and rising interest from younger buyers, all of which should escalate prices and accelerate sales of truly premium proper-ties. Meanwhile, the Texas ranch market is poised for renewed activity, with pent-up demand and an influx of buyers expected to drive growth in the ranch and land sectors.

2025 Sales: $500M–$1B Who: Founded in 1992 with a focus on sporting ranches, we have evolved into a brokerage for land and properties nationwide, including productive farms, working ranches, timberland, luxury residences, and sporting estates.

WOW! Sold 2,575-acre Silver Ruby Ranch in Sheridan, Montana, listed at $32.5 million.

What was your take on 2025? It proved to be an unexpect-edly dynamic year. While we anticipated a seasonal slowdown entering the fourth quarter, momentum accelerated instead as inves-tors increasingly diversified into land.

How is 2026 shaping up? It is off to a strong start, and we are optimistic that this momentum will carry into the heart of the selling sea-son. While inventory remains a challenge, rising investor confidence continues to support healthy demand across the market.

2025 Sales: > $1B

Who: A farm and ranch real estate brokerage founded in 1946, specializing in top-of-class farms, ranches, and recreational properties. We also provide land auctions, financing, land management, appraisal, and consulting services.

WOW! Marketed the 504,000-acre Great Western Ranch in Western New Mexico. The ranch contains a significant operating component as well as elk, mule deer, and antelope.

What was your take on 2025? Investment-quality rural real estate remained in demand. We saw more top-shelf land end up in stronger hands. There was a direct correlation between the quality of the land and the length of time it was held.

How is 2026 shaping up? With strong livestock markets, ranches that offer solid oper-ating components will enjoy robust demand. Sellers will remain inclined to hold on to those ranches. Farmland may come to market more readily due to weaker economics. High-quality recreational land will continue to enjoy great demand. Buyers may have more leverage if they perceive flaws or weaknesses.

2025 Sales: > $1B

Who: A 50-year-old, land-focused real estate firm specializing in farm, ranch, recreational, and lifestyle properties.

WOW! Represented the buyer in closing the largest sale in company history: the 500,000-acre Great Western Ranch.

What was your take on 2025? Land sales were exceptionally strong. Buyers demonstrated a willingness to find value in markets that were previously overlooked, while many sellers met their goals of liquidating high-quality properties at strong prices.

How is 2026 shaping up? We entered 2026 at a fast pace, with strong activity across large ranches, auctions, and recreational properties. We expect another record-setting year.

2025 Sales: $500M–$1B

Who: A network of real estate professionals representing rural land, farms, waterfront properties, recreational land, luxury ranches, and hunting properties across the country.

WOW! LandLeader affiliates represented both sides in the sale of the Camp 9 Hunting Ranch in Enterprise, Oregon. The property spans more than 9,000 acres of Blue Mountains wilderness, considered among the most pristine land in Oregon. What was your take on 2025? The outdoor real estate market was steady, performing better than expected despite economic uncertainties. Land prices and sales volume showed steady growth, reflecting resilience in the face of shifting conditions. Buyers and sellers adapted well to the market, maintaining cautious optimism throughout the year.

How is 2026 shaping up? The outlook has been dramatically more positive compared to the latter half of 2025. Buyers and sellers are becoming more confident about moving forward, and the market is showing strong signs of stabilization, suggesting the momentum could continue through the remainder of this year.

2025 Sales: > $1B

Who: The largest broker of institutional timberland in the US, specializing in forestland and associated environmental assets. Our team offers management, real estate consulting, appraisal, and luxury residential business units.

WOW! Sold a total of 273,000 acres across 18 states.

What was your take on 2025? There were mixed results nationwide, ranging from large-scale institutional assets to mid-market and retail properties. On the institutional side, participation declined somewhat compared with recent years, but competition remained adequate for most offerings. Moving down the spectrum, buyer activity slowed and became more selective, with property quality and pricing playing a larger role in transaction outcomes.

How is 2026 shaping up? The market for institutional-grade timberland, forestland, agriculture, ranch, and natural capital assets is positioned for continued liquidity, driven by the demand for sustainable investment trends. Timberland and forestland remain core investment categories, valued for diversification, inflation protection, stable income, and environmental co-benefits. However, volatility in forest products and environmental credits may affect near-term performance.

2025 Sales: > $1B

Who: Founded in 1999, we specialize in rural and recreational land sales, with a network of land specialists spanning more than 30 states.

WOW! Our network sold an average of one property every two hours, and our corporate website attracts more than 5.6 million users annually.

What was your take on 2025? Much like 2024, rural resi-dential properties and cash buyers on larger legacy tracts paced our market. How is 2026 shaping up? As interest rates decrease and begin to normalize, recreational buyers still reli-ant on financing will drive the land market upward.

2025 Sales: > $1B

Who: A full-service real estate brokerage company specializing in farm, ranch, hunting, wildlife, timber, country, waterfront, commercial, and recreational land.

WOW! Sold the 1,224-acre Soggy Bottom Lodge in Marengo County, Alabama, listed at $11.9 million. The lodge includes seven guest bedrooms with 39 beds, a spa, a dining area for 40 people, a game room with a bar, and a massive porch that seats 80.

What was your take on 2025? While sales velocity of individual parcels seemed to decline slightly from 2024, we saw a 41 percent jump in median price per acre. Most of that increase came from commercial markets and larger tracts, offsetting a slight contraction in smaller and midsize tracts.

How is 2026 shaping up? We anticipate it to be much the same as 2025, due to the combination of tariff impacts on commodities, input prices, interest rates, and loan tightening. The increase in pastureland prices is currently offsetting static row-crop values

2025 Sales: > $1B

Who: Providing integrated land solutions with core competencies in land brokerage, agricultural appraisal, land and energy management, crop insurance, and capital markets. We work with landowners, farmers, institutional investors, and family offices in 35 states.

WOW! Executed the multi-parcel auction of 3,614 acres on behalf of the Hartnett family, a portfolio built over 70 years. The farms were offered in 30 tracts, attracting a broad, competitive buyer pool. The multiparcel format created a strong bidding environment.

What was your take on 2025? Despite broader economic uncertainty and shifting trade dynamics, farmland continued to perform strongly. Demand from both outside investors and local farmers provided consistent support for values, even amid lower commodity prices. More favorable interest rates boosted buyer confidence and overall market sentiment.

How is 2026 shaping up? We expect continued interest from outside capital sources seeking stable, long-term returns, which should provide steady support for the market. While evolving trade and broader economic conditions may lead to some modest softening in values, we do not anticipate any significant corrections. A limited supply of high-quality farmland coming to market should further help stabilize and support pricing.

2025 Sales: > $1B

Who: A full-service brokerage company specializing in marketing and selling recreational properties, operating farms, and working cattle ranches. WOW! Closed deals covering more than 1 million acres, involving 195 transactions and approximately $1.32 billion in sales volume.

What was your take on 2025? There was a meaningful increase in overall transaction levels, with activity moving into positive territory beginning in May. Pricing continued to show modest increases over the past year, likely due to low overall inventory levels.

How is 2026 shaping up? Like the recovery following the 2009-2010 downturn in sales, we are again seeing large-tier properties lead the rebound. Medium-tier and small-tier properties recovered more gradually during that earlier cycle but closely followed large-tier properties through 2010-2011. We expect the recovery that began in 2025 to con-tinue into 2026, with steady, modest growth in overall ranch-transaction volume.

2025 Sales: $250M–$500M

Who: Specializing in large-scale agricultural and commercial transactions across several regions of the country. We have a national brand and have added local personnel in several key regions, giving us added strength in relationships and agricultural networks.

WOW! The growth of data centers injected a lot of capital into agricultural land markets, and we saw several transactions at significant dollar-per-acre amounts for considerably sized farms.

What was your take on 2025? Quality-grade farms continued to hold their value and, in many cases, showed upward trends. However, lower-grade row-crop farms saw a dip in value over the course of private-investment-type buyer was more impactful through 2025, as commodity prices pushed operators to be more conservative.

How is 2026 shaping up? The downward pressure on non-livestock commodities will continue to put stress on operators and affect the availability of capital for land purchases. However, the 1031 exchange market remains strong due to alternative land-use transactions, and land is still viewed as a highly stable asset amid volatility for investors. The all-time highs of the cattle market will likely allow pasture-land values to tick upward.

2025 Sales: $500M–$1B

Who: Dedicated to connecting buyers and sellers with exceptional rural real estate, whether it’s a ranch, a hunting tract, agricultural land, or a woodland retreat. Our extensive portfolio offers diverse options tailored to outdoor enthusiasts, investors, and landowners.

What was your take on 2025? Demand remained steady for quality farmland, timber tracts, and recreational properties. At the same time, higher interest rates and broader economic uncertainty caused some buyers to be more deliberate; well-located properties with strong recreational attributes, water features, or income potential continued to move efficiently. Limited inventory, coupled with an increasing number of cash- and equity-driven
buyers, helped support values.

How is 2026 shaping up? With strong momentum and optimism. The rural and recreational sector continues to evolve, with buyers placing greater emphasis on land quality, versatility, and long-term use. One of the biggest challenges remains the limited supply of high-quality rural land. As demand persists, land prices are likely to increase.

2025 Sales: > $1B

Who: Since 1925, we have specialized in providing innovative marketing for rural and country properties. We have 500 brokerage locations with thousands of agents selling ranches, farms, recreational land, country homes, mountain and water-front properties, and other real estate found outside of urban America.

WOW! Our network increased sales by nearly 10 percent, and our top 50 offices grew by more than 20 percent.

What was your take on 2025? Demand for land as an asset class remained strong, with the average selling price increasing 7 percent and units showing slight growth.

How is 2026 shaping up? We are very optimistic. With the ongoing exit of baby boomer landowners, we see increasing demand for land as an alternative to equities amid the dollar’s devaluation and an improving economy.

2025 Sales: > $1B

Who: Specializing in proper-ties that have hunting and/or recreational appeal. Many of our agents hold ALC and NDA credentials.

WOW! We had numerous hunting-tract sales of $10 million-plus.

What was your take on 2025? Hunting and recreational land continued to outperform the general real estate market.

How is 2026 shaping up? Our outlook is very positive. Inventory continues to drive demand beyond supply. Quality tillable land is not the only factor driving land values. Multiuse farms with strong management and hunting history enjoy a notable difference in pricing strategies.

2025 Sales: > $1B

Who: Specializing in the
buying and selling of premier and luxury ranches, with a national network of more than 100 ranch experts.

WOW! Listed the 20,000-acre S-Bar Ranch in Yellowstone County, Montana, for nearly $20 million. Also listed is the Gates Ranch in Burns, Colorado, at $9 million, an 1880s legacy cattle and hunting ranch on 744 acres.

What was your take on 2025? Very strong. We achieved a record number of qualified leads. Organic website traffic increased by 30 percent.

How is 2026 shaping up? We expect continued strong activity, both from new ranches coming to market and from ongoing buyer demand. We are forecasting price appreciation of 2 to 3 percent.