When a farm needs a new farmer, choosing the right new farmer is the single most important decision a landowner or manager makes. The decision is normally a 3-5 year decision if not longer and the right farmer positively impacts performance and the long term value of the asset. It’s a decision a landowner can’t afford to get wrong.
Tillable’s Price Discovery process is the only process that ensures that the farm is advertised publicly to all area farmers, provides a fair transparent application process, and for fiduciaries, provides an audit trail of how the farmer was chosen ensuring that no conflict of interest exists.
When farmers make offers on a farm on Tillable, they spend considerable time and effort to compose an offer. For this reason, only Tillable or a qualified farm manager or investor are able to administer the Price Discovery process. If you are considering having Tillable help you find a farmer, or you are a farmer curious about the process, here’s what to expect.
Step 1: Listing the farm on Tillable
Tillable will work with the landowner to create the listing. The listing includes a description of the farm and any specific requirements or preferences of the landowner. Preferences may include a desire to work with a younger farmer, a conventional farmer, non-GMO, or someone that will prioritize using sustainable practices. Tillable will work with the landowner to gather as much information and history on the farm as possible, as more information invites better offers.
Step 2: Receiving offers
The farm will be listed on Tillable’s site and an email will be sent to all registered growers within 30 miles. Tillable has over 18,000 farmers registered on our platform, from big to small, to organic to conventional and everything in between. To see how many registered farmers are near your farm, see the insights page. In most cases Tillable will also digitally advertise the farm using our proprietary algorithms that identify agriculture professionals nearby the farm. The farm is normally listed for at least 2 weeks, during which Tillable will accept blind offers on the farm. We believe the best way to find the best farmer is to make sure every farmer has a chance to put their best foot forward. Some farmers will compete on price and some will compete on practices, but regardless, we will help the landowner find the best farmer based on their goals for the farm.
Step 3: Choose the Right Farmer
The last step is to Review Offers on the farm. Tillable will help review offers, and interview and check the references of candidates that meet the criteria set forth by the landowner and help the landowner select the best farmer to help them achieve their goals.
The Price Discovery process is designed to put the best farmer on the farm at a fair price and help a landowner find a farmer that will help them reach their goals and ultimately improve the value of the asset.
Other resources:
What makes Price Discovery in Farming Different?
