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Real Estate Division

CPD 103 - Agricultural Valuation

Pre-requisite: Recommend BUSI 330 or a thorough understanding of the theory and application of the three approaches to value.

Lesson 1 provides an overview of agriculture in Canada. It outlines market and property considerations related to agricultural properties, including neighbourhood and regional analysis. Lesson 2 specifically examines how these features are considered in appraising an agricul¬tural property. Lesson 2 explores a variety of rural property types and their valuation considerations. Lesson 3 provides a series of case studies that illustrate the application of inspection, analysis, and valuation considerations for various agricultural properties.

Course Outline

Foreword: Introduction to Professional Development Courses

  • Purpose and Scope of the Course
  • Prerequisites
    • Academic
    • Technical
  • Use of the Course Workbook
  • How to Access Your Real Estate Division CPD Course Website
  • Get to Know Your CPD Course Website
  • Log Out
  • Webinar
  • Final Quiz
  • Tutorial Assistance
  • Getting Started

Lesson 1: Agricultural Property Analysis

  • Agricultural Industry Overview

    • Macroeconomic Analysis
    • Provincial Agricultural Production
    • Trends in Agricultural Business
  • Data Collection and Analysis
  • Regional and Neighbourhood Data and Analysis
  • Legal Description of the Property
  • Land Description and Analysis
    • Lot Size
    • Lot Features and Attributes
  • Site Improvements.
    • Perimeter Fencing
    • Water Supply
    • Sewage and Septic Systems
    • Drainage
    • Animal Waste Handling Systems
    • Irrigation Systems
    • Product Handling Systems
    • Energy Supply
    • Roads
    • Wind Breaks.
    • Production-Specific Site Improvements
  • Building Description
    • Building Size
    • Building Types and Description
  • Summary

Lesson 2: Appraising Agricultural Properties

  • Property and Market Analysis

    • Highest and Best Use
  • Valuation Approaches
  • Direct Comparison Approach
  • Cost Approach
  • Income Approach
  • Reconciliation and the Final Value Estimate
  • Specialized Considerations for Rural and Agricultural Properties
  • Dairy Farms and Facilities
  • Swine and Poultry Facilities
  • Cattle Feedlots
  • Livestock Ranches
  • Grain Elevators and Terminals
  • Processing, Packing, and Cold Storage Facilities
  • Aquaculture
  • Timber
  • Gravel and Mineral Resources
  • Renewable Energy
  • Wetlands
  • Conservation Easements
  • Future considerations for agricultural properties
  • Summary

Lesson 3: Case Studies: Agricultural Property Valuation

  • Case Study 3.1: Agricultural Property Listings
  • Case Study 3.1(a): Irrigated Land
  • Case Study 3.1(b): Ranch Land
  • Case Study 3.1(c): Greenhouse
  • Case Study 3.1(d): Feedlot
  • Case Study 3.1(e): Mixed Farm
  • Case Study 3.2: Saskatchewan Grain Farm
    • Property Description
    • Valuation Methodology
    • Direct Comparison Approach
  • Case Study 3.3: Alberta Crop Farm
    • Purpose and Intended Use
    • Regional Overview
    • Subject Property Data
    • Approaches to Value
  • Case Study 3.4: Quebec Dairy Farm
    • Appraisal Assignment
    • Neighbourhood and Area Analysis
    • Site Analysis
    • Dairy Quota System
    • Highest and Best Use
    • Direct Comparison Approach
    • Cost Approach to Value
    • Income Approach to Value
    • Reconciliation and Final Estimate of Value
  • Case Study 3.5: Timber Value
  • Summary

Afterword

  • The Final Examination

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