Profitable agricultural production requires an intimate understanding of farmland, the single most valuable input of most agricultural enterprises. Understanding the complexities of agricultural production and marketing to meet the challenges of the 21st century is a job for specialists. Members of the Illinois Society of Professional Farm Managers and Rural Appraisers (ISPFMRA) are specialists who dedicate their efforts to acquiring and enriching their knowledge and skills in order to provide the highest quality agricultural management, appraisal, and consulting services.

The ISPFMRA is one of 37 Chapters of the American Society of Farm Managers and Rural Appraisers. The Chapter, founded in 1928, is the oldest and largest state organization of its kind in the United States. Members are professional persons devoted to the management and appraisal of rural property and agricultural consulting.

Activities include:

• educational courses and seminars
• courses and tours for members to learn about new agricultural
• production and marketing practices
• an annual meeting to help farm managers, rural appraisers and agricultural consultants improve their abilities in the profession
• publishing a newsletter
• sponsoring award programs to recognize persons in their profession and in agriculture for their accomplishments
• increasing public recognition of the profession
• striving constantly to improve the standards and quality of services offered by members
• cooperating with, and supporting, all agencies who strive to improve American agriculture

CODE OF ETHICS

All professional farm managers, rural appraisers, and consultants must meet standards of education, training and experience as established by the American Society of Farm Managers and Rural Appraisers. Members operate under a strict code of ethics and standards of conduct for each member and to which each member agrees to be held accountable.

CONTINUING EDUCATION
All professional and accredited members must participate in a mandatory continuing education program of the American society. An accredited or professional member must accumulate 60 hours of continuing education during a consecutive three-year period. Other members are encouraged to participate in continuing education events.

PROFESSIONAL FARM MANAGEMENT
Professional farm managers provide expertise to landowners. Typical services provided by professional farm managers include the following:

• selection of farm operators
• lease analysis and recommendations
• financial and production record keeping
• marketing of crops/livestock
• purchasing of seed, pesticides, fertilizer, etc.
• soil conservation management
• financial management
• capital improvement analysis, recommendations and supervision
• general crop and livestock planning.
  

Professional farm managers serve as an administrative link between owners and farm operators. Professional farm managers are committed to maximizing returns for the owner while maintaining or improving the quality of the land and capital assets.

Many professional farm managers also offer real estate brokerage services. Farm management services and fee structures are set forth in the management contract between the landowner and the farm manager.

PROFESSIONAL RURAL APPRAISAL
A professional rural appraiser estimates current value based on the highest and best use of the property.

Professional appraisals are valuable to estimate fair market value, eminent domain/condemnation, for mortgage loan purposes and to determine income earning capacity, for estate division and settlement, for inheritance or gift taxes, and real estate tax assessments.

• Appraisers may use three approaches to estimate value: income
• capitalization, sales comparison, and cost.
• Appraisers reports contain information about the subject property, the appraiser’s opinion of value, and a documented basis and reasoning supporting that opinion.
• Appraisals are completed following the Uniform Standards of Professional Appraisal Practice (USPAP) as promulgated by the Appraisal Foundation.