YearInReview_2025

Recap

CIRCLE S WEST RANCH

CROSS F RANCH

AND CLARK TRAIL RANCH

YAMPA RIVER RANCH

HISTORIC GUNN RANCH

FISH CREEK RANCH 20

THREE PEAKS RANCH

L and, L oyalty, & La st in g Partner sh i ps. Legacy gd yo A OF

As 2025 comes to a close, Hall and Hall reflects with gratitude on another year of serving the farm and ranch community. For almost 80 years, we have had the privilege of guiding clients through the opportunities and responsibilities of land ownership. Our longevity is a reflection not only of the enduring value of land, but also of the trust and loyalty placed in us by generations of clients.

This year underscored the continued strength of the farm and ranch real estate market. Demand remained steady as buyers sought both lifestyle properties and long-term investments. Hall and Hall’s role extended beyond facilitating transactions; we worked to preserve family legacies, foster new beginnings, and strengthen the relationships that form the foundation of our business.

In a dynamic financial environment, our financing services provided clarity and stability. By tailoring solutions to the unique needs of landowners, we helped clients move forward with confidence. These partnerships, built on trust and mutual understanding, reflect our long-term commitment to supporting clients through every stage of land ownership. Landowners continued to turn to Hall and Hall for thoughtful, professional property management. Our approach combined operational efficiency with a strong emphasis on conservation and sustainability, ensuring that the land entrusted to us is not only maintained but enhanced for future generations.

As we prepare for 2026, we remain deeply grateful for the partnerships that make our work meaningful. Hall and Hall’s history provides a strong foundation, but our clients — and the enduring relationships we share — define our success. We look forward to continuing this journey together in the years ahead.

Jerome Chvilicek

PROPERTIES SOLD

607K

DEEDED ACRES SOLD

$1.1B

IN PROPERTIES SOLD

STEWARDING

Land, P eo ple, &Prosperity t , Pd n

As 2025 comes to a close, we take pride in reflecting on a year defined by solid ranch operations, enduring client relationships, and strategic talent placements across the ranching and recreational property sectors. We continue to support the day-to-day efficiency and longterm success of ranches and properties across the country. Our team consistently delivered high-caliber candidates, ranging from veteran ranch managers to hospitality-oriented leadership, ensuring each placement was thoughtfully aligned with the unique needs and standards of the properties we serve.

In response, we’ve placed ranch managers, working couples, estate caretakers, and hospitality-focused leadership who reflect the values, vision, and standards our clients expect. This trend reflects a broader evolution: mid-sized properties are now managed with the same care and intentionality traditionally reserved for large legacy ranches.

Another key trend this year was the strong financial performance of cattle ranches, driven by record market conditions, efficient herd management, and increased consumer demand. This stability has encouraged reinvestment in infrastructure and staffing, creating a healthy demand for experienced professionals who can manage both operations and assets with long-term vision.

One of the most notable shifts this year was the rising demand from mid-sized operations seeking high-end property and facility care. These landowners, whether legacy families or new lifestyle buyers, expect excellence in maintaining their land, recreational features, and assets. They require professionals who combine hands-on skills with a high level of polish and professionalism.

DIRECTOR, MANAGEMENT GROUP

As we look toward 2026, our mission remains clear: to elevate land-based operations through exceptional people. We’re honored to support those who steward the land and are committed to helping them build strong, sustainable teams.

KNOWLEDGE-BASED LENDING

Ro ot ed in Agriculture lt i A

For nearly eight decades, Hall and Hall has stood as a trusted name in agricultural real estate lending. Established in 1946, our foundation was built on a deep understanding of production agriculture, agribusiness, and recreational properties. Today, our lending division continues that legacy—combining over 150 years of collective agricultural lending experience to provide knowledge-based lending solutions designed specifically for producers, ranchers, and landowners.

Our team understands the nuances of farm operations and can navigate complex financial situations to help borrowers structure viable solutions and successfully secure a loan.

In contrast, the cattle industry remains very strong, with record-setting prices driving renewed activity in the ranch market. Despite higher input costs, cattlemen have found newfound liquidity and are actively seeking legacy ranch properties to expand their operations. Many long-term ranch owners are capitalizing on this surge in equity, while recent drops in long-term interest rates and lenders offering favorable terms have spurred increased sales this fall. Our knowledgeable lending team has been instrumental in facilitating and advising these transactions across the farm and ranch sector.

In today’s complex agricultural economy, success requires more than access to capital—it demands insight and adaptability. Commodity prices for crops and small grains remain low and, at least in the near future, show little sign of improvement. Many operators are requesting that the carryover debt accumulated over the last several years be refinanced onto real estate, utilizing the equity gained from the steady appreciation of farmland values over the past decade. However, some producers face challenges due to a lack of positive cash flow trends, making it difficult for underwriters to approve traditional loan requests.

This is where Hall and Hall’s deep agricultural knowledge makes a difference.

As agriculture shifts with the economy, Hall and Hall is equipped with the expertise and tools to structure financial solutions that mitigate risk and market volatility. We are committed to helping our clients thrive in an ever-changing marketplace.

“The distinct landscape, views, biodiversity, wildlife habitat, and privacy…. one of the best large acreages…”

“There are really beautiful things about the land,” Buerger said. “There’s no light pollution, so the star scape is exceptional.”

New Mexico has captivated the minds of those who visit it for time immemorial—and for good reason. The state offers a blend of cultural and landscape diversity that only exists here. The scale and dramatic character of the terrain can be profoundly humbling; one can visit timbered alpine mountains, open plains, canyon lands with red rock cliff faces, and desert in the same day. Though the beauty of these landscapes (and their brilliant sunsets) is remarkable, New Mexico’s rich blend of cultures provides an unmatched arts and culinary experience. The rare harmony of vast landscapes and culture entice and attract discerning landowners who value heritage and open space.

Although the state has experienced aboveaverage land value appreciation over the past couple of years, it is still an incredible value when compared to land prices in Texas and Colorado.

Buyers can get more bang for the buck, or more acres for their dollar, compared to some other states. Given their significantly below market lease rates, when you add in a mix of state and/ or BLM grazing leasehold acres, the purchase price on an animal unit basis is more palatable to a livestock operation.

New Mexico stands as one of the West’s most captivating and rewarding places to own land. Its dramatic landscapes, from alpine peaks to desert canyons, pair seamlessly with a rich cultural heritage that infuses everyday life with depth and artistry. Beyond its beauty and cultural vibrancy, the state offers exceptional value by providing more acreage and opportunity for the dollar than many neighboring regions. New Mexico delivers an enduring promise of open space, heritage, and possibility.

co mpetitive su cc e ss in

2025 was another busy and successful year for our auction department. Our work took us to projects across Colorado, Illinois, Kansas, Kentucky, Oklahoma, South Dakota, and Virginia.

When evaluating potential auctions, we often hear comments like, “We’re not sure auction is the right route—we don’t want to give the property away.” Others still ask, “Why would someone choose to sell at auction?” Despite auction prices remaining strong and the method gaining greater acceptance as a preferred way to sell, these questions persist. And they’re valid.

To address the first concern: we don’t want to give the property away either. A well-marketed auction attracts serious buyers who compete— driving the price to true market value.

In an auction, there is always a winner. Americans are naturally competitive; bidders understand they only need to go one increment higher than the next person.

This competitive, transparent process also answers why many choose to sell at auction. While there are many reasons someone might need or want to sell real estate, auctions offer a clear advantage by providing a firm sale date, allowing the seller to set the terms, and ensuring that all buyers compete on a level playing field. We’re proud of our work in 2025 and look forward to helping even more sellers and buyers achieve their goals in 2026!

WHY OUR

CORE VALUES DEFINE

Who We Are

As Hall and Hall approaches its 80th year in 2026, our longevity alone is not the achievement. Clear values that guide decisions, help build relationships and foster growth through changing markets and opportunities reflect the endurance, building of continuity, and trust across generations.

Gratitude With Integrity

Grat itude is the foundational principle at Hall and Hall which shows up as integrity. We are grateful for our relationships built over decades and for every new opportunity we’re given to build trust through new ones.

Commitment to Excellence

Excellence is fundamental across every business line at Hall and Hall. It means anticipating challenges and delivering outcomes that stand up over time. It’s how we earn credibility, year after year.

Shared Success Through Partnership

Our partnersh ip model is central to who we are and why we are different. Every partner shares in the success of the company, which fundamentally changes behavior. We play the “long game”, which is totally focused on the success of our clients.

Client-Centered

We star t with the client’s long-term interest in mind. Our role is to help guide clients through complex decisions involving their land and investment. Success is measured by relationships sustained.

Forward-Looking and Adaptable

Forw ard-looking ensures that we remain relevant and prepared for our clients’ interests as well as the next generation.

The Importance of Place

Under standing place and all that it encompasses is essential to responsible brokerage, management and ownership. Local expertise is clearly essential to understanding and honoring the land.

The Strength of Our Team

Behind every transaction and service is a dedicated team of employees who bring it all together. Our team members are essential and crucial partners in our success.

Gratitude for 80 Years and the Journey Ahead

At Hall and Hall, we are grateful for the relationships we form, the people we work alongside, and the success we share. Our core values are lived principles that have carried us through nearly eight decades and continue to guide us in how we serve, collaborate and grow together.