With motivation to help landowners achieve their goals, Kyle Walker, AFM, AAC, CAC, applies a keen eye for those outcomes in his approach to asset management.
“I like to really transform and improve farms which is more long term focused. There’s more to managing a farm than just focusing on the annual income,” Walker says.
His talent and skill at balancing all the considerations in farm management led to him being recognized as the Farm Manager of the Year by the ASFMRA, Syngenta and The Scoop.
Walker is Director of Asset Management at Peoples Company, based in Indianola, Iowa. He’s been with the Peoples Company since 2014 and in asset management since 2006.
“I really like the dynamic of working with all the stakeholders-- land owners, farmer tenants, contractors,” Walker says.
One change he’s seen in his 15-year career has been a momentum shift in environmental considerations as well as sustainability efforts.
“When I first got in the business, most landowners where very short-term focused. With the high commodity prices of 2011 and 2012, a lot of farms were taken out of pasture and put into row crops,” he describes. “That dynamic has changed over the years. Landowners and farm tenants are more vested, and want to do what’s right by the land with more no-till, cover crops, etc. If they have a long-term lease and they see the value in the investment and they are both making financial investments toward those goals.”
He says this pairs well with his firm’s approach.
“At Peoples Company our management approach is focused on long-term appreciation and sustainability, not just the annual income. We help document everything going on the farm including yield, fertility, improvement projects, and more. We have a complete book of what happened on each farm, which includes what’s been done and the yearly reports. If a landowner decides to sell, this information allows a prospective buyer to pay a premium for that farm. I compare it to having complete maintenance records when you are buying a used car. If you know the asset has been well cared for, it’s easier to write the check.”
And the trend has been parallel to how farm management agreements have changed.
“At the beginning of my career, crop share was status quo. But that model has changed over the years to more simple cash rent leases. And as commodity prices have gone up, we are seeing more flex leases. Landowners are also wanting to take a more active interest and own 100% of the crop through custom farming.” Walker says.
One other trend he notes has shifted during his career is structurally how land is held.
“A lot of clients own land in a LLC or Trust, I like those ownership scenarios because they clearly identify the decision maker in the relationship. As many landowners are in their later years, estate planning management is critical to make sure farms are seamlessly passed to the next generation.”
Regarding his award, Walker says it’s powerful to have his name alongside other leaders in the industry.
“The Farm Manager of the Year award means a lot. It legitimatizes me to the industry---the previous winners are outstanding individuals. And there are so many others in this industry as well,” Walker says.
