American Society of Farm Managers and Rural Appraisers (ASFMRA)
Definition
The American Society of Farm Managers and Rural Appraisers (ASFMRA) is a professional association comprised of leading experts in the appraisal and management of farms and rural properties. Founded to further the knowledge, ethics, and advocacy of professionals in this niche real estate sector, the ASFMRA provides education, training, and a platform for professional growth.
Examples
- Certified Farm Manager (CFM): A member who specializes in the strategic management of farming operations to optimize profitability and sustainability.
- Accredited Rural Appraiser (ARA): A member who provides expert valuation services for rural and agricultural properties, often used for transactions, estate planning, and financial assessments.
- Consultant for Agribusiness: A professional offering advisory services to clients to improve farm operations, land use planning, and investment strategies in rural real estate.
Frequently Asked Questions (FAQs)
Q1: What services do ASFMRA members provide?
- ASFMRA members offer services including farm management, rural appraisal, and agribusiness consulting. They work to enhance the value and productivity of rural properties and provide accurate valuations and strategic advice.
Q2: Are ASFMRA members certified or accredited?
- Yes, members can earn designations such as Certified Farm Manager (CFM) and Accredited Rural Appraiser (ARA), which demonstrate their expertise and adherence to industry standards.
Q3: How does the ASFMRA support its members?
- The ASFMRA supports its members through continuing education, professional certification programs, networking opportunities, and advocacy for policies that benefit the agricultural and rural real estate sectors.
Q4: Can ASFMRA members help in land acquisition?
- Yes, ASFMRA members can provide valuable insights and services for acquiring, managing, and valuing rural property, offering expertise in soil management, crop production, and land use regulation.
Related Terms
- Farm Manager: A professional responsible for the day-to-day management and operation of farm facilities, ensuring maximized output and profitability.
- Rural Appraisal: The process of determining the value of rural properties, including agricultural lands, based on their earning potential, market conditions, and development possibilities.
- Agribusiness: The business sector encompassing farming and farming-related commercial activities, including the production, processing, and distribution of agricultural products.
Online Resources
- ASFMRA Official Website: The central hub for information on membership, educational programs, upcoming events, and industry news.
- National Association of Realtors - Rural Appraisal Resources: Resources and tools for real estate professionals working in rural and agricultural markets.
- Land Valuation and Management Resources: Articles and guides on land valuation methods and farm management practices.
References
- Official ASFMRA Publications: Available on the ASFMRA website, providing in-depth guides and research reports on rural property management and appraisal.
- USDA Economic Research Service: Offers statistics and reports on U.S. agricultural economics pertinent to farm managers and appraisers.
Suggested Books for Further Studies
- “The Appraisal of Rural Property” by Jack P. Friedman and Martha W. Missner. This book gives comprehensive insights into rural appraisals.
- “Farm Management: Principles and Practices” by Terence Bradshaw. An essential read for those involved in the business aspect of farm management.
- “Rural Real Estate Investments” by Brian A. Bailey. This guide covers various strategies for investing in rural and agricultural properties.
Real Estate Basics: American Society of Farm Managers and Rural Appraisers (ASFMRA) Fundamentals Quiz
### What is one of the main service areas provided by ASFMRA members?
- [ ] Urban Property Management
- [x] Rural Appraisal
- [ ] Commercial Real Estate Financing
- [ ] Residential Brokerage
> **Explanation:** ASFMRA members specialize in rural appraisal, providing expert valuation services for agricultural and rural properties.
### What designation indicates an expert in managing farm operations?
- [ ] Accredited Urban Manager (AUM)
- [x] Certified Farm Manager (CFM)
- [ ] Residential Property Expert (RPE)
- [ ] Commercial Real Estate Advisor (CREA)
> **Explanation:** The Certified Farm Manager (CFM) designation is awarded to professionals who demonstrate expertise in managing farm operations efficiently and sustainably.
### Which designation is earned by ASFMRA members specializing in valuation services?
- [x] Accredited Rural Appraiser (ARA)
- [ ] Certified Property Analyst (CPA)
- [ ] Master Real Estate Valuator (MREV)
- [ ] Licensed Property Inspector (LPI)
> **Explanation:** The Accredited Rural Appraiser (ARA) designation is for members who are experts in rural property valuation services.
### What type of properties do ASFMRA members primarily focus on?
- [x] Farms and rural properties
- [ ] Urban residential properties
- [ ] Industrial properties
- [ ] Commercial retail properties
> **Explanation:** ASFMRA members primarily focus on the appraisal and management of farms and rural properties.
### How does ASFMRA support professional development?
- [ ] Offering discounts on farm equipment
- [x] Providing educational programs and certifications
- [ ] Managing properties directly
- [ ] Selling rural real estate
> **Explanation:** ASFMRA supports professional development by providing continuing education, certifications, and professional growth opportunities for its members.
### For whom is ASFMRA membership suitable?
- [x] Professionals in farm management and rural appraisal
- [ ] Urban property developers
- [ ] Commercial real estate brokers
- [ ] Mortgage underwriters
> **Explanation:** ASFMRA membership is suitable for professionals involved in farm management, rural appraisal, and related agribusiness services.
### What designation signifies high standards in rural property valuation?
- [x] Accredited Rural Appraiser (ARA)
- [ ] Certified Residential Appraiser (CRA)
- [ ] Licensed Urban Appraiser (LUA)
- [ ] Master Property Valuator (MPV)
> **Explanation:** The Accredited Rural Appraiser (ARA) designation signifies high standards in rural property valuation, indicating expertise and professionalism.
### Which members benefit from soil management and crop production insights?
- [ ] Urban residential appraisers
- [ ] Financial analysts
- [x] Farm managers
- [ ] Industrial property managers
> **Explanation:** Farm managers benefit from soil management and crop production insights to enhance farm productivity and sustainability.
### What is a critical element of ASFMRA's mission?
- [ ] Promoting city development
- [x] Advancing the knowledge and ethical standards of farm managers and appraisers
- [ ] Selling agricultural products
- [ ] Organizing community events
> **Explanation:** ASFMRA's mission is to advance the knowledge, ethics, and professional standards of farm managers and rural appraisers.
### How can individuals join ASFMRA?
- [x] By applying via the ASFMRA website and meeting eligibility criteria
- [ ] Through commercial real estate firms
- [ ] By attending a real estate school
- [ ] Via urban property management companies
> **Explanation:** Individuals can join ASFMRA by applying through the ASFMRA website and meeting the necessary eligibility criteria, including educational and professional requirements.
