Courses & Seminars

ASFMRA is an internationally recognized leader in appraisal training. We are a not-for-profit appraisal society and sponsoring member of the Appraisal Foundation providing education since 1929 and serving all jurisdictions in the United States. We provide Appraisal Qualifications Board (AQB) and state approved appraisal training for certified general licensure and for continuing education.

The ASFMRA offers specialized seminars such as Yellow Book, Valuation of Conservation Easements, Timber Property, Mineral Rights, Dairy Appraisal and a lot of other topics. Take a look at the seminars to see what we offer, then take a look at our education schedule to see what is being offered near you! If you have any questions you can contact Deanna Ilk at 303-692-1222 or

Key Issues of Grain Elevator Valuation

Target audience: Appraisers

Nicknamed “skyscrapers of the plains”, grain elevators are an important part of US agriculture and international agri-business. Grain elevators are special purpose facilities which include both real estate and equipment components. In this seminar, you’ll learn how a grain elevator works—both mechanically and economically. Gain an appreciation for the various types of grain elevators, construction features and learn grain industry jargon.

Hundreds of large “on-farm” grain storage facilities have been constructed across the country in the past three to five years. Many rural appraisers are being asked to appraise these facilities as part of large farming operations. On-farm grain storage and drying facilities will be thoroughly discussed in the seminar. A fascinating case study demonstrates how to handle diverse farm headquarters and grain storage appraisal assignments. Gain depth in your understanding of grain drying systems and the economics associated with grain drying and storage.

All three approaches to valuation of grain elevators are explored in this seminar. Learn how to abstract various forms of depreciation and obsolescence from elevator sales and comprehend the applications of replacement cost new versus reproduction cost new. Discover the importance of performing owner/operator income and expense analyses—and the applications of EBITDA and NOI analysis. Understand the units of comparison that are pertinent to grain elevator valuation. Upon completion of the Valuation of Grain Elevators seminar, appraisers will experience an appreciation of the grain elevator business’s complexity and will gain a deeper understanding of valuation issues applicable to special purpose grain elevator assets. We will discuss On Farm Grain Storage and Grain Drying in addition to Commercial Grain Elevators in this seminar.

This seminar was developed for ASFMRA by Jeffrey Berg, ARA, ASA, FRICS owner of Crown Appraisals, Inc. Berg is a nationally prominent appraiser of special purpose agri-business facilities—mainly grain elevators, seed conditioning plants, fertilizer agronomy facilities, feed mills and other large agri-business facilities.

Contact Hours: 8 hours