Welcome to our ranch broker question and answer series. Regularly, we feature one of Mirr Ranch Group’s knowledgeable and experienced brokers.
We’re showcasing one of our Senior Vice Presidents today, Pat Lancaster. Coming from the hunting and outfitting business, where his highly regarded Lancaster’s Outfitters has operated in Colorado, New Mexico, and Nebraska for over 25 years, Pat naturally possesses a unique eye for evaluating hunting-oriented properties.
Over the years, Pat has leased in excess of 1 million acres of private ranch property in these states and currently still outfits on over 250,000 acres of private ranch land in Colorado specializing in archery elk, bighorn sheep, and mule deer.
Read on to find out more about Pat, his love for the outdoors, and how hunting connects him to ranch real estate.
Pat and Johnny Morris with a 400” bull
All About Colorado and Wyoming Ranch Broker: Pat Lancaster
Q: Why did you get involved with ranch brokerage?
A: After being a big game outfitter for over 30 years and developing relationships with many landowners that could ultimately become sellers and hunting clients that some of which were capable of buying ranches, it seemed like a natural evolution. Coupled with the opportunity to work with Mirr Ranch Group and Jeff Hubbard, both of whom were established and respected in the industry, it was an easy decision to make.
Q: How has Mirr Ranch Group upped your real estate game?
A: Between the company name recognition, proven track record, marketing platform available to the brokers, Mirr Ranch Group has supported me and allowed me to continue to learn, grow and be successful in these challenging and competitive markets.
Q: What’s your biggest challenge as a ranch broker?
A: Understanding buyers and matching them with the property they desire, all the while helping them understand the land itself and the future management of that land.
Q: Tell us about your most memorable ranch transaction.
A: A couple of them come to mind – First, the 85,000-acre Cielo Vista Ranch, which is located in the Sangre de Cristo range in southern Colorado, and I had hunted and known for over 20 years before the listing opportunity presented itself. Previous experience and knowledge of the ranch became invaluable in this complex transaction which was completed in 2017.
Another smaller off-market property that I had identified and believed could be purchased at a reasonable price, and with effort, could be turned into something special was also memorable. A longtime client realized the potential as well and purchased it and allowed me to manage the projects which included a land swap with a neighboring landowner, road building, fence building, water development, and habitat improvement. This included some selective timber cutting and brush mitigation. After several years of enjoyment, the owner was then able to sell it for a significant profit.
While these were two very different properties, they were both equally as rewarding.
Q: What is unique about the type of properties you enjoy marketing?
A: With my outfitting background, I naturally gravitate toward hunting and fishing properties, but I am also knowledgeable and experienced in both grazing and agricultural properties.
Q: What’s your favorite part of the job?
A: Being outdoors is what I enjoy and know best. And being able to do that in some of the most beautiful country in the American West with some tremendous clients and friends is tough to beat.
Q: Where can we find you when you’re not working?
A: Enjoying the outdoors with family and friends!