By Andy Westby, President and Managing Broker
I grew up on a farm in northeastern South Dakota, in a family that worked the land, invested in land, and sold land through auctions. From an early age, I learned that land is more than a piece of dirt. It is a long-term asset, a source of stability, and often a family’s legacy.
That perspective has stayed with me throughout my career in commercial real estate. Whether I am working with agricultural ground, development land, or raw land on the edge of a city’s growth path, the fundamentals remain the same. Land holds value because it is finite, adaptable, and deeply tied to long-term economic trends.
Why Land Has Always Mattered
Agricultural land has historically been one of the most durable asset classes. It produces income, serves as a hedge against inflation, and tends to hold value across market cycles. Even when commodity prices fluctuate, the land itself remains a long-term store of wealth.
Development land follows a similar principle. Its value is tied to growth, infrastructure, and demand. As communities expand, land that once sat outside city limits often becomes the foundation for future housing, industrial parks, retail corridors, and community services.
In both cases, land rewards patience and thoughtful stewardship.
The Power of Location and Timing
Not all land is created equal. Location, access, zoning, infrastructure, and future growth plans all play a role in long-term value. In markets like Fargo Moorhead, we continue to see steady population growth, infrastructure investment, and expansion into surrounding areas.
Landowners who understand where growth is headed, and who take the time to evaluate timing and strategy, are often best positioned to unlock long-term value. Sometimes that means holding land. Other times it means transitioning it to the next phase of its life cycle.
From Farm Ground to Development Opportunity
Some of the most meaningful land transactions I have worked on involve families who have owned ground for generations. That land may have started as productive farmland, but over time, growth created new opportunities.
These transitions require careful planning. They involve conversations about legacy, tax considerations, future use, and long-term goals. My background in farming and auctioneering has given me a deep respect for these decisions and the responsibility that comes with advising on them.
The Role of Auctions in Unlocking Value
Auctions have long been a trusted method for selling farm land, especially when transparency and market-driven pricing matter. In the right circumstances, auctions create competitive bidding, eliminate uncertainty, and allow the market to determine true value.
For farm land owners, auctions are a very effective way to honor the value of an asset while ensuring a fair and open process.
Land as a Long-Term Investment
Unlike many asset classes, land does not depreciate. It does not become obsolete. Its value evolves as the surrounding community grows and changes.
For investors, land offers diversification and long-term appreciation. For families, it often represents years of hard work and stewardship. In both cases, land remains one of the most resilient investments available.
A Legacy Worth Protecting
At Goldmark Commercial, we approach land transactions with the understanding that they are rarely just financial decisions. They are personal. They involve history, future planning, and long-term impact. That is part of why we have had a hand in helping successfully sell almost 7,000 acres of land across all types since 2020 alone.
Whether working with agricultural producers, investors, or developers, our goal is to provide informed guidance that respects both the value of the land and the legacy behind it.
Because land is not just an asset. It is a foundation for what comes next.