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Live Water Properties Broker Latham Jenkins honored as a finalist for the Inman Golden I Club Award, which celebrates exceptional achievement in luxury real estate marketing.

At Live Water Properties, we are proud to announce that Jackson Hole luxury real estate broker Latham Jenkins will be a featured speaker at the prestigious Inman Luxury Connect 2024 event, where he has also earned the distinction of being a finalist for the Inman Golden I Club award.

Jenkins will present on “Going the Extra Mile: Curating an Out-of-the-Box Luxury Experience and Why It Pays Off” on Monday, July 29, from 11:25 AM to 11:45 AM PDT. In this 20-minute session, he and other top agents from around the country will explore the art of creating exceptional, bespoke experiences for luxury clients. Drawing from his extensive experience, Jenkins will showcase his curated listing presentation experiences on snowmobiles, snowshoes, river rafting, horseback riding, and using safari-style tents to showcase his properties to clients. Jenkins enables buyers to experience firsthand how a property lives.

“Luxury real estate is about more than just transactions; it’s about creating unforgettable moments,” Jenkins said. “I’m excited to share strategies on how to go above and beyond for clients and the tangible benefits that come from doing so.”

Later on Monday, the 29th, from 2:00 PM to 4:00 PM, Jenkins will participate in another compelling 20-minute conversational session titled “Distilling Luxury Real Estate Strategies.” This session, featuring a whiskey tasting provided by expert sommeliers at the ARIA, will focus on how to curate unforgettable client experiences that enhance personal branding in the luxury real estate market.

“You won’t want to miss hearing Latham speak at the Inman Luxury Connect. According to the Numbers: in the last five months, Latham Jenkins produced nearly $50 million in sales for his buyers and sellers,” said Macye Maher, CFO/Founding Partner at Live Water Properties. “According to his Personality: I personally know his devotion to positive listening, immense research, and his commitment to sharing the Western culture of Wyoming.”

In addition to his speaking engagement, Jenkins has been recognized as a finalist for Best Sales and Marketing Campaign for Home/Property for his successful sale of the Jackson Hole Ranch. Over the past three years, Jenkins has consistently ranked as the top-selling individual broker in Wyoming, securing the number 1 and 2 spots. This consistent track record highlights his dedication and expertise in the luxury real estate market.

The Inman Golden I Club award represents the pinnacle of achievement in the luxury real estate industry, honoring professionals who not only achieve record-breaking sales but also push the boundaries of what’s possible in the field. “I’m truly humbled to be a finalist for the Inman Golden I Club Award,” Jenkins added. “This recognition is a testament to the dedication and passion of my work in providing exceptional service to my clients.”

The winners of the 2024 Golden I Club awards will be announced at Inman Luxury Connect 2024.

An award-winning tree farm — one of Georgia’s largest — assembled and nurtured by a Colorado family nationally known for conserving land and racing thoroughbred horses, has been sold after being listed for $15 million. With an immediate flurry of interest from multiple capable parties, the rapid sale in under 30 days underscores the exceptional value and allure of the property, meticulously developed over 22 years under the stewardship of its owner, John W. Geary, III. The transaction was expertly handled by Live Water Properties’ Southern Team, which included brokers Alex Maher, Jon Callaghan, and Davis Willis.

Geary, Chairman of the Board of Palmer Land Conservancy in Colorado Springs, Colorado, has dedicated his career to land conservation and development. As the nephew of Stuart Phelps Dodge, founder of the Palmer Land Conservancy in Colorado, Geary has continued his family’s national legacy of environmental stewardship.

Beyond his conservation efforts, Geary has a passion for horse racing. He is an owner of Dornoch, who competed in the 2024 Kentucky Derby before winning the Belmont Stakes in June. His extensive background in commercial real estate development has equipped him with the skills to transform Lightwood Plantation into a premier estate that harmonizes luxury living with sustainable land use.

Lightwood Plantation, located near Atlanta and Augusta, began its journey in 2001 when Geary acquired the first 961 acres from an institutional timberland investor. Over the years, Geary expanded the estate to its current 2,300 acres, enhancing its recreational and luxury amenities. The property features an 8,405-square-foot custom log home overlooking an 11-acre lake, with six bedrooms, eight masonry fireplaces, and modern security systems. The estate is a sanctuary for outdoor enthusiasts, boasting meticulously managed quail woods, dove fields, deer stands, and duck impoundments.

Recognized as the 2019 Georgia Tree Farm of the Year due to Geary’s dedication to enhancing its ecological, timberland and recreational value, Lightwood Plantation is protected by Working Forest Conservation Easements, ensuring its continued legacy.

With spring in the rearview mirror, it is time to gear up for summer fishing in the Rocky Mountains and Pacific Northwest. Thanks to yet another wet spring and an adequate snowpack, we could leave our nymph boxes at home and get ready for a great season of fishing. As we transition out of the high, muddy waters of the runoff and into cool, clear summer flows, we can expect a large number of insects, especially the coveted terrestrials. As you continue reading, you will find local reports from our expert Brokers, lending you a first-hand account of the angling outlook.

Fly Fishing Ranches for Sale in Idaho

Twin Peaks Guest Ranch
Salmon, Idaho | 677.81 Acres
Located along the entrance of Twin Peaks Guest Ranch is the Salmon River, renowned for its chinook salmon and steelhead runs. This world-famous river is best fished in the spring and fall for its migratory species. During the summer however, anglers can expect to find an abundance of cutthroat and rainbow trout. As river levels drop from the spring runoff, there are active hatches of golden stones, yellow sallies, and PMDs (Pale Morning Duns). These hatches are only expected to strengthen as the summer progresses, giving way to salmon flies and terrestrials as July and August approach. The Salmon River is an exciting fishery, shaping up for yet another great summer of fishing. Explore Twin Peaks Guest Ranch

Teton River Ranch
Tetonia, Idaho | 76.78 Acres

Few rivers in the West provide dry fly-fishing opportunities that compare to those on the Teton River. The Teton River Ranch sits on one of the most private sections of this 81-mile fishery. This prime location lends itself well to both wade-fishing and dropping and retrieving drift boats. Currently, water levels are high due to the runoff, but the end is in sight as water levels have begun to drop. At current flows, dry fly fishing is not optimal, but one can still find success with large streamers or along grassy banks with worms and terrestrials. As water levels continue to drop PMD (Pale Morning Dun), caddis, and salmon fly hatches will begin. Around mid-July is when this section of the river really hits its stride; hoppers and chubbies are the name of the game, and opportunities at fish over 20 inches are ample. Explore Teton River Ranch

Fly Fishing Ranches for Sale in Wyoming

Papa’s Creek Ranch
Star Valley, Wyoming | 179 Acres
The Star Valley is home to what is widely regarded as the finest spring creek fishing in Wyoming; Papa’s Creek Ranch should be no exception. The ranch sits on 1.35 miles of prime river frontage on the Salt River, along with an additional 1.5 miles of completely private spring creek – Papas Creek. While the creek currently holds fish, the potential for a world-class spring creek is well within reach. The Salt River, however, needs no improvements, as it is an exceptional undercut bank fishery, which bodes extremely well for terrestrial fishing, producing world-class brown and cutthroat trout day in and day out. Currently, the river is still running high, but it has cleared up dramatically in the past week and is beginning to produce consistent double-digit days. Green drakes are all the craze right now and will continue to be a staple food source into early July. PMDs (Pale Morning Duns) have also been hatching, along with a solid early stonefly hatch. Terrestrial season is on the horizon, and with a solid snowpack and a moist spring, we are in for a terrific summer. Explore Papas Creek Ranch

17 Rocking Chair
Dubois, Wyoming | 22 Acres

Dubois has been one of the first areas of Wyoming to start fishing well this summer; the runoff is officially over, and the summer fishing season is upon us. The Upper Wind River, which makes the property’s southern border, is a beautiful, free-flowing river dominated by native cutthroat trout. Further down the river, anglers will encounter larger populations of brown and rainbow trout, making it possible to catch all three species in one day. The river and surrounding water, Torrey Creek and Wiggins Fork are all fishing extremely well right now with Duracell nymphs and midges. Fishing continues to improve by the day, and the dry fly fishing should pick up by the end of the week. A four-weight rod with a floating line will make for tremendous fun on the Upper Wind River any day of the week. Explore 17 Rocking Chair

Fly Fishing Ranches for Sale in Oregon

R&C Ranch
Fossil, Oregon | 5,430 Acres

R&C Ranch is conveniently nestled along 1.5 miles of the John Day River, notorious for its smallmouth bass fishery as well as a strong summer steelhead run. Anglers can expect success fishing from the shore however, the true beauty of this location lies in its access to the entire river system. With a jet boat, over 100 miles of this esteemed river can be explored simply by launching from the shore, in front of the riverfront home. For smallmouth bass fishing, a six to eight weight rod with both an intermediate sinking line and a floating line are recommended. The peak season for smallmouth runs from mid-June to the end of August and 75 fish days are far from uncommon. Both topwater and subsurface action can be extremely productive depending on weather conditions. Typical flies include: the Stealth Bomber, Gamechanger, Bottoms Up, and other assorted poppers and streamers. For steelhead, most anglers will opt to swing subsurface flies such as Intruders or the Burnt Chicken. This can be done with a conventional fly rod, however, a spey or switch rod is recommended. With these two remarkable fishing opportunities, along with a recovering chinook salmon run, R&C Ranch makes for an unparalleled home base to target a wealth of species with a fly rod in hand. Explore R&C Ranch

Wilson River Retreat
Tillamook, Oregon | 3.18 Acres

Nestled amongst the towering Douglas Firs of the Tillamook Forest sits the Wilson River Retreat. With 450 feet of river frontage on the Wilson River, this three-acre getaway provides numerous opportunities at a plethora of species. Currently, the river is fishing well for both sea run and residential cutthroat, along with a summer run of hatchery steelhead. While dry flies may produce some success, this fishery is geared towards a more swing heavy approach. Water levels have been dropping steadily over the past week and are expected to level out around the summer average soon, dictating that fishing success will only improve in the coming weeks. Along with these summer fishing opportunities, the Wilson River offers options for both fall and winter as well. Around October, chinook salmon begin their migration back upstream followed by chum and coho salmon. As December rolls around, these fish have just about completed their journey back to their spawning grounds, and right behind them is a legendary winter steelhead run. Based on the sheer number of migratory fish that use this river, this is a truly year-round fishery, steps from the comfort of this cozy mountain retreat. Explore Wilson River Retreat

Fly Fishing Ranches for Sale in Washington

Sunrise Ranch
Anatone, Washington | 2,685 Acres

Creating Sunrise Ranch’s southern boundary, the Grande Ronde River is a world-class, multi-species fishery. From now through the end of July, the river experiences a prolific stonefly hatch, lending opportunities to chase trophy rainbow trout on large dry flies. From mid-September through November, one of the country’s farthest inland steelhead migrations takes place. These fish are generally targeted by swinging skaters or fishing intruders. While “steelheading” is not a numbers game, the opportunity to land one of these behemoths is an experience that cannot be replicated. Aside from species of the Salmonidae genus, warm water species such as smallmouth bass can be targeted in impressive numbers. The ability to chase so many species from one central location makes this a remarkable property for any serious angler. Explore Sunrise Ranch

Fly Fishing Ranches for Sale in Colorado

Elk Creek Ranch
Meeker, Colorado

With the acquisition of Pollard and Dry Creek Units from the 7 Lakes property in 2021, Elk Creek Ranch has expanded to +/- 25,000 acres, encompassing 30 + miles of private fishing access known by many anglers as the finest dry fly fishing in the country. With 44 fishing beats, guided by top-notch professionals, this is a destination fishery and provides fishing opportunities seen nowhere else in the world. For generations, this property has been managed with the trout fisherman in mind, and the results speak for themselves. Trophy fish can be found in every corner of the ranch, from the slow-moving waters of the upper South Fork to the technical pocket water of Elk Creek itself. Currently, the mayfly and caddis hatches are in full swing with assorted stoneflies getting into the mix as well. However, the true gem of this fisherman’s paradise is the late summer and fall terrestrial fishing, which can be described as nothing short of legendary.

Explore Elk Creek Ranch Lot 63

Explore Elk Creek Ranch Lot 34

Explore Elk Creek Ranch Membership

Recently Sold Fly Fishing Ranches

McKinnis Creek Ranch
Steamboat Springs, Colorado | 55.52 Acres
McKinnis Creek Ranch offers spectacular fishing opportunities in the heart of the vibrant ski town of Steamboat Springs, Colorado. With both the Yampa River and meticulously managed fishing ponds on the property, this ranch provides the best of all that the Yampa River Valley has to offer. The Catamount Dam, upstream of the property, makes this a year-round fishery for trophy rainbow and brown trout. The fishing right now is on fire and is expected to stay hot as the runoff tapers off, and we approach summer flows. Yellow Sallies have been abundant, along with darker stoneflies and assorted caddis. Yellow and tan foam has been fishing great so far, and as it gets later in the summer, purple and red will become the colors of choice for those looking for explosive dry fly action. A nine-foot-five weight and a floating line are the ideal combo for this fishery, both in the ponds and on the river. With terrestrials and tricos around the corner, the Yampa is primed for a spectacular summer of fishing. Explore McKinnis Creek Ranch

Dancing Pine Ranch
Steamboat Springs, Colorado | 55.52 Acres

Los Pinos, or “the Pine,” as the locals call it, is the quintessential Colorado tailwater trout fishery. Due to almost the entire river being private, it remains unpressured, relatively unknown, and fishable nearly year-round. While midges remain a constant in this river, its true draw is fishing foam. The swift currents make for opportunistic fish, willing to look up and eat something big. Along with its pocket water, grassy banks in the slower stretches make for fantastic hopper fishing when the time comes. Spring flows are steadily dropping, with fishing conditions looking to improve over the coming weeks. However, typical stimulator patterns are working exceptionally well right now, along with humpies and most wulff patterns. Streamers can also be very effective this time of year due to the deep pools dotted throughout this stretch. Typically, a five-weight rod with a floating line is recommended. However, an intermediate sinking line or sink tip can effectively reach larger fish in the deep pools. The average fish size is around 14 inches, while trophies can be found throughout the river, making this an extraordinary destination. Explore Dancing Pine Ranch

Tarryall Fishing Retreat
Jefferson, Colorado | 240 Acres

The Tarryall Valley boasts some of central Colorado’s most scenic views and productive fisheries. This year, the snowpack in Colorado has been the best in the Rockies, indicating what should be a stellar summer. For the angler who is serious about dry fly fishing on small water, Tarryall Creek Fishing Retreat checks all the boxes and more. Due to some unexpected hot weather in recent days, the area has seen increased flows for most likely the last time this summer. However, with this fishery being a tailwater below the Bayou Salado Reservoir, high flows are not a problem. With 1.7 miles of frontage on both sides of Tarryall Creek, this is a truly private stretch of water to enjoy without any worry of distraction. Right now, the PMD (Pale Morning Dun) hatch is in full swing, and the fishing has been stellar; as the summer progresses, the dry-fly fishing will only get better, with golden stone and yellow sally hatches expected to begin any day. A four- or five-weight rod, a handful of dry flies, and a little bit of sunshine are all it takes to have an extraordinary day on this classic Colorado trout stream. Explore Tarryall Fishing Retreat

In the internet era, people often dismiss the importance of a Buyer’s agent in a ranch real estate transaction. “While the internet has changed information access and marketing in our industry, ranch real estate is still very much a relationship business,” says Ryland Moore, Live Water Properties sales associate based in Hood River, Oregon. “People working with people get the deal done when things go awry.”

Ryland Moore, Oregon Ranch Broker

It’s no secret that a real estate transaction has two sides: a Seller and a Buyer. Although there are exceptions, generally, each side is represented by an agent. Each agent has different responsibilities. The Seller’s agent is responsible for completing a listing agreement, gathering all materials necessary for due diligence, marketing, conducting showings, and educating potential Buyers and their agents about the property. Good and properly educated listing agents generally know more about the property than anyone other than the owners.

On the other hand, the Buyer’s agent helps Buyers locate and evaluate appropriate properties, reviews due diligence confirming the materials provided, understands current property values for accurate valuation, requests additional information as necessary, and conducts boots-on-the-ground due diligence to ensure the property meets a client’s needs.

While there is a varied to-do list on each side of the transaction, the difference between the Seller’s and Buyer’s agent is fundamental.

“Essentially, it boils down to who the agent is responding to and whose interest he or she is responsible for in the transaction,” says Moore, who opened Live Water Properties’ Oregon office in 2009. “The Seller’s agent has a fiduciary responsibility to the Seller and no one else, while the Buyer’s agent has the same fiduciary responsibility to the Buyer.”

Benefits of Using a Buyer’s Agent

Moore, a native of Virginia’s Blue Ridge Mountains, grew up outdoors and began exploring western states as a teen. After graduating from the University of the South (Sewanee), he headed to Jackson Hole, Wyoming, to work with a local land trust and the U.S. Forest Service in fisheries.
He stayed to indulge his passion for climbing, fly fishing, skiing, and hunting. When his parents began to question the “ROI” on his college education, Moore determined it was time for graduate school. He found a perfect academic fit—and lifestyle—fit in Oregon. He arrived in 1999, and he has been there since.

“I fell in love with the state—and its diversity,” says Moore, who worked in conservation with several land trusts and private equity around water and energy development before joining Live Water Properties. He is a shareholder of an independent registered investment advisory firm based in Portland.

Match-making

His admiration of his new home state, combined with his passion for all things outdoors, gave him a natural advantage in ranch real estate. His expertise as a Buyer’s agent is grounded in “location, location, location.”

From first-hand experience, Moore can speak to the differences in the Oregon coast and its timbered, rocky slopes to the rich Willamette Valley in the central part of the state to the sprawling ranches in eastern Oregon marked by irrigated farmland, Ponderosa pine forests and high desert. As a result, he is an accomplished matchmaker, pairing Buyers with their dream properties.

“From my perspective, a good Buyer’s agent, at least in the beginning, does more listening than talking— except for asking questions,” Moore says. “Job one is figuring out exactly what the client wants to do and where they want or need to be, to do it successfully.”

Getting to that point requires an ongoing, far-ranging, and often detailed conversation. A good Buyer’s agent will sort through a myriad of seemingly unrelated details to ascertain a client’s “must haves, nice to haves, and not necessaries.” It can include everything from how far a client is willing to drive from an airport (or to the grocery store), or whether they need a private landing strip on the property, to whether they are willing to traverse gravel roads or prefer paved roads to whether they want private access to river frontage or senior water rights for irrigation.

Are they in the market for a “fixer upper” or do they want a turnkey property? Are they looking for a small getaway, an expansive hunting ranch with big game, a live water fishing property, a productive agriculture operation, or a multi-faceted property that can offer many things?

“If I can rank their priorities, the more likely I am to find a property that is a perfect fit for them,” Moore says.

Sometimes, clients come in with a specific location in mind, but after Moore hears what they hope to achieve, he may suggest alternative locations that might fit their needs better.

“Based on what I know about the various regions of the state, I can say, ‘That sounds good, but have you considered looking near X,’” Moore says. “I want to make sure that my clients don’t limit their options and opportunities by focusing on a single location if others also fit their needs.”

Networking and Off-Market Deals

Over the past 15 years of working in Oregon’s farm and ranch market, Moore’s network has grown alongside his knowledge of the state. Being plugged in with landowners, land professionals, and guides and outfitters of all types provides him with an inside track on off-market deals.

“Off-market deals are often a win-win situation where buyers obtain a perfect-fit property that isn’t publicly listed. Sometimes, the start of a deal is knowing that a long-time agriculture producer is considering retiring, or a recreational landowner is thinking about selling,” Moore says.

Since 2017, off-market deals have been a large percentage of Moore’s transactions. He recalls one deal where a potential Buyer walked into the office asking to see one of his listings. As part of the conversation, the Buyer mentioned he had already looked at 20 ranches and rejected them all.
After spending some time, asking a lot of questions, and hearing what the Buyer described as his ideal ranch, Moore said, “You’re not looking at the right properties for what you say you want.”

Knowing what the Buyer had in mind, Moore made one phone call. Although the landowner hadn’t listed the property, he was willing to let Moore show the property. As Moore anticipated, it was a perfect fit and the landowner agreed to sell.

The Buyer, though, wanted a larger property. Moore got back on the phone. Eventually, he identified three other neighboring ranches, none of which were on the market, that together met the Buyer’s needs. They closed on all four properties on the same day.

In another example, a Buyer had close ties to a specific location because his grandfather had owned a place there and it held many special memories. When the Buyer contacted Moore, he had already purchased his grandfather’s original 100-acre property. Still, he had a bigger vision for a multi-faceted property that included a trophy fishery, among other attributes.

“We started knocking on doors,” Moore recalls.

Over the course of several years, the duo closed on nine transactions to create the Buyer’s dream property. Only three of the properties he acquired were listed. Because he had the luxury of time, he eventually purchased those properties, which lingered on the market because they were initially priced too high, for significant discounts to their original asking price.

In addition to having patience and the luxury of time, the Buyer had a commitment to paying fair market value. To that end, the Buyer and the Sellers would commission a joint appraisal so there was an objective measure of value.

Ascertaining true market value is another benefit of using a Buyer’s agent. In farm and ranch real estate, where comparable properties are not nearly as easy to identify as in residential real estate, experience counts, especially when the Buyer may not be familiar with the nuances of farming, ranching, or wildlife and fisheries management.

According to Moore, value in rural real estate, depending on the type of property, can be a complicated mix of factors. In the case of a working ranch, it may include everything from carrying capacity and water rights, state and federal grazing leases, and/or the availability of reliable workers. On the recreational side, a Buyer’s agent can provide keen insight into how big game animals move, the quality of a fishery in a certain stretch of a specific river, or the quality of habitat for upland game birds.

“It’s up to the Buyer’s agent to ground truth all the information during due diligence and to ask the hard questions that the paperwork might not answer,” Moore says. “Good Buyer’s agents know exactly what they’re looking at, its current condition and its potential, as well as the questions to ask to ensure the Buyer’s interests are protected.”

A Buyer’s agent who is enmeshed in land-based lifestyles such as farming, ranching, and legacy hunting and fishing properties can also provide helpful insight to buyers who may not understand the ties that families have to the land. In Moore’s experience, the sale of multi-generational property stirs up deep emotions that need to be recognized and valued.

“Obviously, my job as a Buyer’s agent is to know the best qualities of the land, but I also need to be able to read the emotional temperature on the Seller’s side and convey that to the Buyer,” Moore says. “Sometimes, it’s important to give on seemingly small details to make a transaction happen.”

In the past, he’s helped negotiate deals that allowed legacy owners to visit a family cemetery once a year or made it possible for grandchildren to return to fish a stretch of river for a specified number of years. On more than one occasion, he’s helped Buyers see the benefit of providing a life estate that allowed lifelong farming and ranching couples to live out their independent days in their home on the property after the operation sold.
“Concessions like this can go a long way to helping Sellers come to peace with their decision and move forward with a transaction,” Moore says.

“It’s a way that the Sellers can have their cake and eat it, too that can also benefit the Buyer. Those Sellers have a lifetime of experience with the property, which means a new Buyer won’t have to reinvent the wheel when they start managing their purchase.”

Finding a Buyer’s Agent

The key to a successful working relationship between Buyers and their agents is trust.

“As a Buyer, you’re looking for someone who you trust as a person and as a professional,” Moore said. “It’s ideal to have a relationship that is so strong that the first call you make on any property you might discover online is to your Buyer’s agent, not the listing agent.”

Case in point: a repeat client recently spotted a promising listing online. He liked the location, the view, and the amenities but wanted an opinion on the quality of the fishing in the river that cut through the property, so he called Moore. Moore, who was familiar with the property and the condition of the water on it, dubbed the quality of the fishery in that stretch of river “mediocre.” The client knew to continue searching.

To find the right fit, Moore suggests trying a Buyer’s agent on for size by inviting him or her to accompany you to view a listed property that piques your interest. During the day, assess the agent’s knowledge, forthrightness, and personality to determine if there is potential in the relationship.

He says it’s a prime time to ask about any off-market listings the potential agent might be aware of.

“If someone is pushing you to only look at their listings instead of listening to what you want and need, that is red flag for me,” Moore said.
In his own business, Moore is willing to sign a one-off Buyer’s agreement for a new client. Under this arrangement, the new client is only committed to working with him on a single property.

“It’s a good way for both sides to test the working relationship,” Moore says.

Honesty resulting in trust and knowledge are two of three intangible essentials of a good Buyer’s agent. The third is passion.

“I chose Oregon because I identify with its environment,” Moore says. “In my world, nothing is better to sell than something I’m passionate about. For me, it’s land, not just for its financial value, but for the inherent value of what it offers in the way of lifestyle, productivity, creating memories, and ecology.”

Ensuring that a ranch, farm, or recreational property sells for top dollar takes an experienced broker who can help landowners position their property for success before it ever hits the market.

Tate Jarry, Associate Broker at Live Water Properties, Licensed in Idaho, Wyoming, and Montana
Tate Jarry, Associate Broker at Live Water Properties, Licensed in Idaho, Wyoming, and Montana

“Rural real estate transactions involve intricacies that you don’t encounter in residential real estate,” said Tate Jarry, an Associate Broker for Live Water Properties based in Driggs, Idaho.

In the case of working ranches and farms, there are commodity markets, water rights, production costs, productivity, land leases, and carrying capacity, just to name a few important variables. Recreational ranches can involve fisheries management, stream reclamation or enhancement, wildlife management, hunting units and regulations, and a host of other things.

“It is important to have an experienced Broker who not only understands the business of agriculture, when that’s applicable, and the lifestyle of the West, but can see a property’s untapped potential,” Jarry, who has been selling the Western lifestyle for 20 years as part of the LWP team, says. “My strength is evaluating the land and its potential.”

He recalls a ranch that he sold in late 2022. Throughout its history, the owners’ sole focus had been livestock, but the ranch sat in the path of a major flyway and had a rare untapped asset—winter water that could be used as the basis for waterfowl habitat. Identifying that resource broadened the pool of potential buyers. The land sold to avid hunters, who developed the water and habitat and now specialize in attracting waterfowl.

“I view each property as a blank canvas and ask myself, ‘What is the potential on the landscape?’” Jarry says.

Selecting a Ranch Broker

One way to ensure that a property brings top dollar is by getting it in front of as many potential buyers as possible. Different brokerages have different marketing abilities and reach.

“Hometown brokers often specialize in hometown buyers,” Jarry says. “While most sellers know their local buyers, a national marketing campaign, like what we, at Live Water Properties, can offer, not only expands the pool of potential buyers but also leverages negotiations into true market value.

“A local broker or a newly licensed friend of the family may not have the network or the experience to deliver the best outcome.”

On top of orchestrating a well-thought-out, far-reaching marketing effort, the selected broker should have a track record of success. To that end, sellers should examine the candidates’ overall experience in rural real estate as well as their knowledge of the area and the specific product they are selling. Finally, the selected Broker needs to be someone the seller enjoys working with and trusts implicitly.

“Whether you’re selling an investment property or legacy ranch, it’s an intrusive process that can span some time,” Jarry says.

Strangers come onto the property and examine it from top to bottom. They and their representatives ask all kinds of questions and request all kinds of information.“As the Seller, you have to be comfortable with the Broker as a person and be confident that they are using the information you’re providing in your best interest.”

Jarry says pre-listing negotiations can provide a real-time test of the Broker’s mettle.

“If in an interview, a Broker can’t negotiate a listing contract that is beneficial to the firm and to the Seller or can’t convince a Seller to do necessary clean up or list the property at an appropriate price, then the Seller might want to question how well that person could handle negotiations when they’re in the hot seat with a difficult Buyer,” Jarry says.

Pricing a Ranch Right

Ensuring a ranch is listed at the correct price from the outset is imperative to achieving the optimal sales price in the least amount of time. Unlike residential real estate, which has readily available comps and in many instances “cookie cutter” neighborhoods, there is no one-size-fits-all for farms, ranches, and recreational properties. The price is set using regional comparisons and the Broker’s knowledge of the market and the potential buyers.

Jarry says that it can be helpful for landowners to have their property appraised ahead of time so they know its true value. This is especially important in the aftermath of the “off-the-charts” market prompted by COVID, which has left many Sellers with unrealistic expectations.

“It may seem counterintuitive, but listing a property too high in a given market may actually cost a Seller money,” he says.

If a ranch’s price tag is too high, whether it’s because of market conditions or because of what the property offers, the property will sit on the market and get stale. Stale properties mean price reductions, which bring out the bargain hunters.

“Sellers enjoy a better outcome when they price right and take advantage of the broad, competitive interest when a property is fresh on the market,” Jarry says.

Getting Ready to Sell a Ranch

To get deals done efficiently, Jarry does a lot of research and troubleshoots any problems before taking a property to market.

“My approach is understanding the property before I list it,” he says. To that end, he’ll conduct preliminary title work, review water and mineral rights, and explore access issues.

“It’s in the Seller’s best interest to identify any issues and correct them before the due diligence period because at that point gets tight,” Jarry says. “I don’t ever want to lose a qualified Buyer at the table because we didn’t do our prep work and ran out of time to fix things that could’ve been handled on the front end.”

He also identifies fixes that add visual appeal and value. Deferred maintenance is the one issue that crops up time after time. It runs the gamut from accumulated junk or brush piles to derelict fences and gates that don’t swing easily.

“It may not seem like a big deal to people living on a place every day, but to a potential Buyer, it’s a visual indication that the owner hasn’t put time and effort into the property,” Jarry says. “More times than not, the Buyers will use it against the Sellers in negotiations.”

For instance, if the fences are worn out and need to be replaced, a savvy buyer may get repair/replacement estimates and try to negotiate the sales price down to reflect that upcoming cost.

To that end, Jarry says the best place to invest any money immediately prior to sale is in infrastructure that affects the property’s day-to-day operation.

“To get a return on your investment, put your money into things like replacing fences or fencing out riparian areas so potential fisheries clear up,” Jarry says. “I don’t advise investing in improvements because they reflect personal tastes and choices—and you can spend money that you won’t get back.”

Jarry also suggests that sellers work with their Broker to identify what records might be necessary in the sales process. Gathering the information and having the records readily available will facilitate answering questions and moving the transaction toward its conclusion.

“Plus, in the case of a working farm or ranch having all the pertinent production records allows the buyer to proceed with a level of comfort that comes from knowing the land is priced properly according to its productivity,” he says.

Landowners, whether they are selling legacy or investment properties, also need to contend with the intangibles of emotions and lifestyle that are tied to their land.

“The sale of land is a business deal with an emotional component,” Jarry says. “I know it’s easier said than done, but emotions need to stay out of it.”

In the case of a legacy property, the Sellers should ensure that every family member who has a stake and say in the property is ready to sell. He’s witnessed situations where four of the five siblings were prepared to let the property go, but the fifth one derailed the process for everyone. He refused to sign a listing agreement for anything less than $15 million, even though the ranch’s true value was only $10 million.

Jarry says that families who have special requests should let their Broker know ahead of time, so they can be addressed during negotiations. In several cases, Jarry negotiated annual visits to a family cemetery on a ranch. In another, he negotiated a provision allowing an elderly widow to exhume her husband’s grave on the ranch and have his remains relocated within one year of the closing.

“A lot of Buyers may not have grown up on the land, so I have to explain the emotional attachment to them,” Jarry says. “For some families, dollars and cents may not be as important as the right to visit a special place on the ranch once a year. These things bring a very human element to a business transaction.”

For those selling an investment property, Jarry suggests amassing a collection of photos that highlight how the property lives. Emotion sells, and a lifetime of memories showcases life in a way that helps buyers envision theirs on the property. Another strategy is keeping “before” and “after” photos that tell the story of an individual’s stewardship through the years.

His best advice for investors, though, begins on closing day.

“Plan your exit strategy,” Jarry said. “Enjoy the property every day and in every way while you have it, but never lose sight of the exit.”

For instance, while a 12,000-square-foot home might increase the value for the current owner’s family, it could be an impediment when it comes time to sell the property. Building less may be more valuable in the long run.

While every deal is different, Jarry’s best advice for sellers is simple.

“Know what you have and know what you want, but be willing to listen to and work with your Broker—together, you’ll achieve real-world success.”

Every lifestyle property has a unique story to tell, and Latham Jenkins, a realtor with Live Water Properties based in Jackson Hole, Wyoming, prides himself on being a storyteller.

Latham Jenkins - Lifestyle Property Expert
Latham Jenkins – Jackson Hole Luxury Real Estate Agent

“Just like every person has a story, so does every property,” Jenkins says. “It’s my job to uncover the nuances of a lifestyle property, celebrate all the life that has been lived there—and help potential buyers see themselves writing the next chapters with their family and friends.”

Through the years, his ability to showcase the inherent emotion and romance of iconic lifestyle properties has captured the attention of buyers and luxury real estate media. In 2021, Cody Creek Sanctuary, a 65-acre Jackson Hole property with a resident elk herd, spring creeks, and a traditional log home, came in third place in the Wall Street Journal’s annual House of the Year reader poll. This was a first for a Wyoming home.

In the last two years, four more of Jenkins’ recent listings have received international media attention. The most recent, Lost Creek Ranch, earned the number four spot on the most-read Listing of the Day among Mansion Global’s readers. The recognition was an exceptional feat, considering the property hit the site on November 23, five weeks before the list was tallied.

Of course, Lost Creek Ranch possessed all the elements to create a compelling narrative. The historic property, situated on 50 acres between the Grand Teton National Park and Bridger-Teton National Forest, graced the cover of Architectural Digest in 1993 and was featured in the 1953 movie “Shane” and an episode of the hit television series “Modern Family.” The rural compound has 27 buildings, including a main lodge, a spa, ten rustic cabins, and easy access to Wyoming’s defining recreational activities.

“Jackson Hole has been on the national stage for 30 years,” says Latham, noting that initial recognition confirmed his storytelling approach worked. “Achieving the same level of recognition with Lost Creek in 2023 shows that the way I market and promote lifestyle properties continues to resonate with luxury media and buyers.”

Location, Location, Location

Jenkins, a North Carolina native, discovered Jackson Hole in the summer of 1990 while he was still a college student. He came to the area to work as a river guide at Grand Teton National Park.

“I’m now in the middle of a 30-year love affair with Jackson Hole and the surrounding area,” Jenkins says. “My personal experience is the genesis for my tagline: ‘Find more than a home. Find a way of life.’ That’s what I did.”

This action to make the choice to stay is what ignited his innate desire to share the area with others. Both the town of Jackson and Grand Teton National Park lie within the mountain valley of Jackson Hole. Yellowstone National Park is just 60 miles away. Jackson Hole has long been a mecca for hunting, angling, skiing, paddling, hiking, camping, mountain biking—and so much more.

Fishing Lifestyle PropertyWhen Jenkins arrived, Jackson Hole was a relatively isolated, small town in the nation’s least populous state where the year-round residents had been drawn by the rich diversity of the natural playground. Most residents came from other places, leaving the security and support of extended family behind. As a result, the townspeople relied on one another to meet the challenges of life in a place that was equally beautiful and unforgiving.

“The frontier spirit and the sense of community defined life here,” Jenkins says. “It’s hard to explain, but the term ‘interconnected independence’ comes to mind—everyone leaned on one another but still lived life on their own terms.”

While local ski slopes opened in the 1960s, Jackson Hole didn’t get winter air service until the 1980s. The ability to come and go year-round strengthened the winter economy and made it possible for more people to live there permanently.

Simultaneously, remote work became possible. First came the fax machine and then the Internet. The COVID pandemic normalized remote work and prompted people to consider life far beyond urban centers. Young families, once precluded from living here because of the difficulty of making a year-round living, are now part of the growing population.

In recent years, Jackson Hole has become a sought-after destination zip code for lifestyle properties that is home to high-profile actors, musicians, athletes, and business moguls. Its desirability—domestically and internationally—has soared.

“I am passionate about sharing the enduring values of ‘frontiersmanship,’ independence, and community with newcomers because those values are the foundation of this rare, wonderful place that we get to call home,” Jenkins said. “Embracing this land and this lifestyle provides meaningful, enriching experiences that add depth to life.”

Identifying the Theme of a Lifestyle Property

Knowing that properties don’t reveal their whole stories to casual observers, Jenkins spends countless hours asking pointed questions and listening to family stories.

“In an ideal situation, the owners tell me about their favorite places and how they’ve lived here,” Jenkins says. “Their experiences, when they share them, give me a leg up on identifying the opportunities that will attract buyers who will appreciate those rare things.”
Armed with family lore or not, Jenkins sets out to explore the property with eyes wide open.

“With these lifestyle properties, I’m not selling four walls and a roof—I’m selling everything around it,” Jenkins says. “It’s my job to celebrate the setting. As I tell people, ‘You can always change the house, but you can’t change the property.’”

When he shows an iconic lifestyle property, Jenkins starts with the land so people can fall in love with the outdoors. To capture their attention initially, he relies on photographs that connect with their emotions.

An accomplished photographer and videographer, Jenkins takes all of the photos himself and, in the process, discovers the best places to watch sunrises and sunsets, spot wildlife, and enjoy private meadows or pulsating waterfalls. He finds and photographs prime picnic spots, horseback, hiking, and biking destinations, and the places where trout break the water of rivers and streams.

“I shoot at all times of the day and night, in all seasons and all weather,” Jenkins says. “By the time I’m done, I know the property intimately and can speak from first-hand experience.”

Obviously, each lifestyle property offers a different mix of opportunities. Jenkins just showcases the activities that are possible on any given ranch, whether it’s the fire pit ideal for making s’mores with the grandkids or the deck overlooking the river that has been designed so dinner guests can watch the sunset.

“I try to capture all of the emotional moments on film and video because they won’t all play out during a showing,” Jenkins said. “Having all the photos also serves as a guidebook because not all buyers have experience in the outdoors, and they may not be aware of the recreational opportunities that come with ranch ownership.”

The Conclusion

For a lifestyle property, the closing marks the end of the transaction and is the measure of a story well told. Lost Creek Ranch closed on January 31, 2024.

Macye Maher, CFO and Founding Partner of Live Water Properties says, “It is a testament to our thorough listing process and relationship-building that Live Water Properties was able to bring an iconic ranch like Lost Creek gracefully and respectfully to market and close the deal in a timely manner. The strength of our network, the caliber of the property itself and its location—it’s the perfect Rule of 3s.”
And while one family’s ownership has ended and another has begun, the story of land stewardship will continue to be written.

Alex Maher, CEO and Founding Partner of Live Water Properties, says, “Given the wild and scenic positioning of Lost Creek Ranch between Grand Teton National Park and the Bridger Teton National Forest, future stewardship alignment was paramount in our seller’s goals. Alongside the professional team in the Halpin family office, Jenkins effectively communicated each nuance in the ranch’s historical context and secured a sale to a family that we believe will be excellent stewards far into the future. It was a privilege aligning all personal and conservation interests for such an important regional asset.”

Jenkins finds his ultimate satisfaction at the intersection of the past and future.

“A lifestyle property hold the memories of a lifetime for the seller’s family, so I have a responsibility to show reverence to the land and the people who lived have lived bold, beautiful lives here,” Jenkins said. “I pay homage to its vibrant past, so buyers can see its—and their—future.”

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