Growth Ahead for Industrial Hemp Market

Land Brokers Might Think About Putting Down Roots in the Hemp Business

“If you're ignoring hemp production as a land broker, you’re making a big mistake,” said Gary Hubbell, ALC, broker and auctioneer at United Country Brokers Colorado Inc., Crawford, Colo., during a May REALTORS® Land Institute roundtable on the benefits and risks associated with hemp farming. “To be successful, you have to understand the larger land market and how evolving new industries like hemp can impact it.”

"If someone is going to enter the hemp brokerage industry or has an opportunity in their area, they need to learn as much about the industry as possible,” said panelist Kirk Goble, ALC, broker at Bell 5 Land Co. in Greeley, Colo. He stressed knowing the terminology and helping clients define their end goals. Hemp isn’t like other crops, he said. One reason is the high level of compliance required. Farmers who don't comply with federal and state rules may have to destroy crops and be subject to other legal action.

Still, it's an industry in the brink of growth. “Currently, 80%–90% of the hemp grown in the U.S. is for CBD production," said Hubbell, "We're looking at new sectors in paper, clothing, fabric, and paint, which is exciting.”

Notice: The information on this page may not be current. The archive is a collection of content previously published on one or more NAR web properties. Archive pages are not updated and may no longer be accurate. Users must independently verify the accuracy and currency of the information found here. The National Association of REALTORS® disclaims all liability for any loss or injury resulting from the use of the information or data found on this page.
RLI Land Institute 2019 logo

Watch the May REALTORS® Land Institute Roundtable

View May's roundtable on the REALTORS® Land Institute YouTube channel, and check out the RLI e-book What’s Growing in the Industrial Hemp Market.


About Create

Create is a quarterly publication for commercial practitioners, members of the National Association of REALTORS® and commercial real estate industry leaders. Members can subscribe by updating your member profile information to include commercial interests in the "Field of Business" list.

Update your Field of Business in your member profile.