Fast-Changing Agriculture Industry Assisted by New Auction Marketplace

The challenging agricultural economy and ever-increasing technology complexity in farming equipment is leading farmers to buy used equipment, which is less expensive and easier to maintain.

While this move may help many farmers, it also adds a significant challenge to lenders who serve those farmers. During these late winter months, ag lenders across the nation take on an arduous task of evaluating the farmer’s financial position and determining the loans needed for spring planting. The actual meeting with farmers is often a pleasant opportunity for friends to gather. The challenge lies in the hours in preparation and inaccuracies in pulling valuations from expensive equipment which can have as many variables as Carter has cod liver oil pills.

Iron Comps, the Ag equipment valuation solution has reinvented this industry by simplifying and expediting the way farm equipment is valued. Recently launched, Iron Comps answers the question, “What is a farmer’s fleet of equipment worth?”

Called the Kelly Blue Book of agriculture, Iron Comps, powered by Tractor Zoom, creates easy access to a truer fair market value price. This means speed, transparency, and accuracy never seen before in the farming equipment industry.

Iron Comps targets tailored banks and equipment dealers, helping Ag lenders value equipment with real-time auction market data. What would normally take hours of research to gather comparable sales is all gathered in one space.

Users can keep their farmer’s inventory in a single area that automatically updates values of each price, based on the market data collected. Ag lenders are loving the consistency, efficiency, and accuracy to managing their farmers’ fleet values.

Iron Comps has grown quickly and it is easy to see why.

Kyle McMahon, CEO of Tractor Zoom, is very passionate about developing digital solutions to create a more efficient marketplace for farmers, equipment auctioneers, bankers, dealers and insurance agencies.

McMahon grew up in Southeast Iowa, surrounded by an entrepreneurial family who loved the outdoors. His work ethic and love for equipment led him to start his own lawn and landscaping business.

After graduating from Iowa State University, funded by the sale of his business, Kyle traveled the Midwest reviewing new tracts of land for sale while attending 1,000+ land and equipment auctions.

His passion for agriculture was growing and he started to recognize that there was something missing. If real estate industries and ‘for sale’ farm equipment had platforms, why not build up one for farm equipment auctions. Tractor Zoom was born.

McMahon’s dedication to his business is evident when you take a look at what Iron Comps is truly capable of. They enable members to research comparable values in a specific area from over 110,000 recent auction results.

Why auctions? McMahon says, “Auctions drive equipment prices and the results are the best measure of what something will sell for in the next 30 days based on current market conditions.”

Since Iron Comps’ launch, their unique services have helped equipment dealers, auctioneers, appraisers, farmers, insurance providers, and Ag lenders, by saving them time, mitigating risk, and helping to build authentic relationships. This is important because Iron Comps takes the guesswork out of pricing farm equipment and creates consistent information for everyone involved. Determining equipment values should not be hard. Iron Comps makes it easy.

Tractor Zoom and Iron Comps have taken the agriculture sales equipment industry by storm. Their technology, ease of use and relationship-building platform has filled a need that has been missing for a very long time.

Iron Comps is offering a limited free version and personal 15-minute demo where lenders can discover how to confidently price farm equipment and use that to build their customer relationships.

About Iron Comps:

Iron Comps is a software as a service (SaaS) platform that gives dealers and lenders a more accurate picture of agricultural equipment valuations by using real-time auction data.

About Tractor Zoom:

Tractor Zoom is an auction advertising marketplace that connects farmers and auctioneers. The relationship between Tractor Zoom and Iron Comps is similar to Autotrader and Kelley Blue Book.

Contact Info:
Name: Kyle McMahon
Email: Send Email
Organization: Iron Comps

Release ID: 88944812