Texas Ranch Brokers - Marketing Presentation

Texas Ranch Brokers, LLC www.TXRanchBrokers.com

Texas A&M University Sue Williamson System Real Estate Office Confidential Listing Proposal Drew Colvin & Mike Bacon

512-756-7718 | info@TXRanchBrokers.com

Table of Contents 1. Texas Ranch Brokers-Who We Are 2. Our Commitment and Marketing Plan 3.Texas Ranch Brokers TV Commercials 4. Texas Ranch Broker Properties Sold 5. Marketing Fee/Commission 6. Subject Property 7. Summary of Comparable Properties 8. Subject Property Marketing Options 9. Marketing Options Summary 10. Closing Remarks 11. Appendix

Texas Ranch Brokers Who We Are

Texas Ranch Brokers, LLC ~ A Proud Member of

Texas Ranch Brokers, LLC is in partnership with American Farm + Ranch offers the national real estate market an established network of licensed professional brokers connected with a system of international marketing resources. We are quietly changing the rural real estate marketplace. Our invitation-only Member Broker network, 19 offices nationwide, of select professionals meeting stringent criteria are equipped to help you with your property.

The Texas Ranch Brokers marketing process is based upon years of research, analysis, and refinement.

We will tailor a campaign appropriate for each listing that capitalizes on the American Farm + Ranch marketing resources.

2021 Aggregated Numbers SALES- $940,000,000 • 140K ACRES SOLD •200 LISTINGS SOLD

BROKER BACKGROUND AND EXPERIENCE Texas Ranch Brokers LLC, is a partnership formed in 2011 by two competing firms, Bacon Investments, Inc. and Circle C Ranch Sales. Both were successful ranch and investment real estate firms operating in central Texas many years prior to their merger. Mike Bacon and Drew Colvin are responsible principally for production and share management responsibilities. The diverse knowledge and different but complementary skills that each partner/firm contributed gave TRB a depth that most firms just don’t possess.

Today, TRB has on staff 14 licensed professionals who possess very diverse backgrounds and skills. While nowadays real estate brokerages can operate out of a sales person’s home, TRB operates from its professional office location in Burnet.

About Texas Ranch Brokers, LLC Drew Colvin is Managing Director and Partner of Texas Ranch Brokers, LLC. Drew was founder of Circle C Ranch Sales, a successful real estate company specializing in ranches, land, wildlife and commercial real estate investment properties. A native Texan raised in a ranching community, Drew combines his experience in executive management with his expertise in real estate brokerage throughout Texas and Northern Mexico. Drew's experience was originally built on 20 years of experience as senior management for several distinguished international insurance brokerage firms whose clientele consisted of Fortune 100 multinationals in the international oil and gas sector. Building upon this experience and lessons learned, in 2003 Drew and his wife Susan established Circle C Ranch Sales to serve a specialized and select clientele with an exceptional level of personal service, integrity, experience and professionalism. Drew holds the CLE, Certified Land Expert designation.

Mike Bacon is the Broker of Record for Texas Ranch Brokers, LLC and as Director and Partner of Texas Ranch Brokers LLP. Mike established Bacon Investments in 1984, whose focus was principally on Central Texas and Hill Country land. Mike has established himself as one of the major brokers and is recognized as an authority in the area. Highly respected by other Brokers and clients alike, Mike strives to set himself apart by delivering the highest standard of service in the business. His clientele includes executives, investors, developers, and families looking to purchase “Legacy” ranches for generational enjoyment. Mike enjoys the reputation of treating each transaction as if it were his own. Integrity, loyalty, longevity, knowledge and confidentiality are the hallmarks of his service. Many of Mike’s clients are repeat buyers and sellers, personal referrals make up a large portion of his business. Mike holds the ALC, Accredited Land Consultant, and the CLE, Certified Land Expert designations.

Our Commitment and Marketing Plan

Our Commitment and Marketing Plan COMMITMENT: 1. Be available • We are a full time professional firm • Ranches and recreational rural property is a specialty • Telephones professionally answered 24/7 • Periodic review of marketing results and adjust plan as necessary 2. Competency: • Review and analyze comparable sold and active properties to insure you get the most money for your property.

• Review/determine best property division plans and best use options MARKETING: 1. Capitalize with prominent web placement: • Highly visible and active company owned and managed sites: TXRanchBrokers.com, AmericanFarmandRanch.com • Nationally recognized ranch real estate sites LandsofTexas.com/FarmandRanch.com/LandWatch.com/ Loopnet.com • Leading industry cooperative site – LandBrokerMLS.com • Regional Realtor Multiple Listing site –HLMLS~Highland Association of Realtors, ABOR~Austin Board of Realtors, Lands of Texas/Farm and Land • National Realtor Multiple Listing site – Realtor.com • Texas Alliance of Land Brokers

Our Commitment and Marketing Plan MARKETING continued

2. Place consistent and reliable print advertising: • Texas Land Magazine, Farm and Ranch Magazine, Land Broker MLS Magazine 3. Wide-Spread promotion to network of clients and cooperating realtors: • Personal on-site promotion of property to active real estate agents with prospects • Social Media • American Farm + Ranch • Land of Texas/Farm and Land • Land Watch • Land Broker MLS • Highland Lakes Board of Realtors (MLS) • Austin Texas Board of Realtors (MLS) • National Association of Realtors (MLS)

4. Weekly email promotions to associate and cooperating realtorsConstant Contact 15,560 viewers 5.

Regular Television ads and social media promotions

Our Commitment and Marketing Plan

TV Commercials Texas Ranch Brokers was voted BEST OF THE BEST in Land Sales and placed high in additional categories.

Texas Ranch Brokers Magazine

Confidential Listing Proposal Texas Ranch Brokers, LLC • 512-756-7718 • info@TXRanchBrokers.com

Our Commitment and Marketing Plan 6. Alternative Marketing Options: Texas Ranch Brokers LLC are the exclusive representatives for Rowell Auctions, Inc. in the State of Texas. Rowell Auctions, Inc. stands as a leader in an industry generating over $52.2 Billion in real estate sales annually. The value of auction marketing is evidenced by recent studies indicating sustained overall growth in excess of 10% annually. Established in 1936 and is now based in Moultrie, Georgia with a professional and licensed team that conducts auctions throughout the United States.

Texas Ranch Brokers TV Commercials

Our Commitment and Marketing Plan

Listing Properties TV Commercials

Confidential Listing Proposal Texas Ranch Brokers, LLC • 512-756-7718 • info@TXRanchBrokers.com

Texas Ranch Brokers Properties Sold

TV Commercial

TRB PROPERTIES SOLD

TRB PROPERTIES SOLD

Marketing Fee/Commission

Marketing Fee/Commission Finally, given the time and expense of marketing properties of this size and value, Texas Ranch Brokers, LLC will put in countless man hours and a significant amount of our own capital into the project.

Therefore, our commission rate for marketing this ranch is 5%. This rate allows us to attract and incentivize co-operating brokers by providing them a competitive level of compensation.

Should Texas Ranch Brokers, LLC produce the buyer, we will reduce our commission rate to 4%.

Subject Property

Subject Property Description The ranch property contains 815.05 acres of land located along east & west sides of CR 203, and 98.83 acres located along CR 200 approximately five miles northwest of San Saba in San Saba County, Texas. The property offers a wide variety of topographical relief from gently sloping improved pasture to rolling and steeply sloping native pasture. The property provides a total change in elevation of about 120 feet with the main drainage feature being Merriman Branch. Sandy loam soils typical of the area are dispersed over the subject with numerous grave, outcrops on the upland native pastures. Tree cover consists of a variety of oak, elm, hackberry, sycamore, willow, and mesquite trees. The property has been well-maintained over time with very little cedar tree re-growth. It has a desirable mixture of land types with about 372 acres in open improved pasture, with the balance being in wooded native pasture. There is a conservation lake and numerous earthen stock tanks on the property which appear to hold water throughout the year. A public water line and meters from San Saba WSC provide potable water to the dwellings and livestock water troughs. The entire property is enclosed within standard height livestock wire fencing in good condition. Wildlife species on the ranch are typical of the neighborhood, including whitetail deer, hog, turkey, dove and quail. The area has historically been owned in larger ranch units with trends over the past thirty years toward division into smaller units.

Probably because of a limited potable water supply, ownerships remain typically above 100 acres with several ranches above 500 acres. The balance of nearby properties consists of acreage home sites, recreational and livestock-based land uses.

MINERALS: Reserved by Seller, but Executive rights negotiable

Subject Property Map

Subject Property Topo Map

Subject Property Photos

Summary of Comparable Properties

Summary of Comparable Properties 100-200 Acres Sold- 11-05-21 Sold- 10/08/21 Sold-11/05/21 Sold- 09/29/21

119 Ac 80 Ac 119 Ac 106.33 Ac

CR 202 FM502 CR202 CR 248

$5450 $5517 $5495 $5000

200-350 Acres Sold -03/22/22 Sold- 12/9/21 Sold-03/03/21 Sold- 07/08/21

345 Ac 221.83 Ac 305 Ac 216.18 Ac

CR 314 FM 502 FM 500 FM 236

$7820 $4643 $4905 $4,218

FM 500 FM 501 CR 310 CR 117

$5,780 $6944 $4250 $4429

Average

$5345

500-2554 Acres Sold- 04/09/21 1236 Ac Sold- 12/31/21 1004.82 Ac Sold- 01/28/22 1350 Ac Sold- 03/01/22 2554 Ac

Average

Average

$5365

$5,396

Subject Property Marketing Options

OPTION A

Option A is the most obvious, sell all tracts to one buyer, or reserve the 98 acres for a separate buyer

OPTION B

Option B is to break up the three principal tracts into sizes that maximize price points

OPTION C

Option C is a high density division. This would meet the university’s desire to achieve

the highest yield. However, in our opinion this is not practical because of the lack of ground water and meter taps to service all the property owners. Therefore, we have not priced out this option.

Marketing Options Summary Option A is the most obvious, sell all tracts to one buyer, or reserve the 98 acres for a separate buyer Option B is to break up the three principal tracts into sizes that maximize price points Option C is a high density division. This would meet the university’s desire to achieve

the highest yield.

However, in our opinion this is not practical because of the lack of ground water and meter taps to service all the property owners. Therefore, we have not priced out this option.

Recommendations Based on the foregoing analysis of the subject property and recent comparable sales, it is our recommendation that the University follow Option B and that the tracts be divided as indicated below: • Northern 364 acre tract would be divided into two tracts: • 200 acres with the lake should sell at a price between $6500 - $7500/acre • The remaining 165 acres should sell at a price between $5500 -$ 6000/acre • Western 451 acres, should it be divided into 100 - 200 +/- acre tracts, should sell at a price between $5500 $6000/acre • 98 Acre tract whether divided or sold intact should sell at the $4500 - $5000/acre range.

• Should you decide to go with Option A the entire 913.88 acre tract would sell in the $5500 - $6000/acre range.

We would anticipate the market time to be in the range of 3 - 6 months.

Closing Remarks Thank you for allowing Texas Ranch Brokers, LLC the opportunity to compete for your business.

We believe you will find our professionalism, marketing approach, experience and track record to be well-suited to representing Texas A&M in the sale of the subject property.

We hope our proposal answers all of your questions and concerns. Should you have any questions or need any additional information, please do not hesitate to contact us.

We would appreciate the opportunity to market your property.

Thank you, Drew Colvin Cell 512-755-2078 drew@txranchbrokers.com

Mike Bacon Cell 512-940-8800 mike@txranchbrokers.com

References upon request

Appendix

Comparable links View Comparable c Property Details

Disclosure THE TEXAS REAL ESTATE COMMISSION (TREC) REGULATES REAL ESTATE BROKERS AND SALES AGENTS, REAL ESTATE INSPECTORS, HOME WARRANTY COMPANIES, EASEMENT AND RIGHT-OF-WAY AGENTS AND TIMESHARE INTEREST PROVIDERS YOU CAN FIND MORE INFORMATION AND CHECK THE STATUS OF A LICENSE HOLDER AT WWW.TREC.TEXAS.GOV. YOU CAN SEND A COMPLAINT AGAINST A LICENSE HOLDER TO TREC A COMPLAINT FORM IS AVAILABLE ON THE TREC WEBSITE. TREC ADMINISTERS TWO RECOVERY FUNDS WHICH MAY BE USED TO SATISFY A CIVIL COURT JUDGMENT AGAINST A BROKER, SALES AGENT, REAL ESTATE INSPECTOR, OR EASEMENT OR RIGHT-OF-WAY AGENT, IF CERTAIN REQUIREMENTS ARE MET. IF YOU HAVE QUESTIONS OR ISSUES ABOUT THE ACTIVITIES OF A LICENSE HOLDER, THE COMPLAINT PROCESS OR THE RECOVERY FUNDS, PLEASE VISIT THE WEBSITE OR CONTACT TREC AT:

TEXAS REAL ESTATE COMMISSION P.O. BOX 12188 AUSTIN, TEXAS 78711-2188 (512) 936-3000

Information About Brokerage Services Texas law requires all real estate license holders to give the following informaƟon about brokerage services to prospective buyers, tenants, sellers and landlords.

TYPES OF REAL ESTATE LICENSE HOLDERS:

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A BROKER is responsible for all brokerage activities, including acts performed by sales agents sponsored by the broker.

A SALES AGENT must be sponsored by a broker and works with clients on behalf of the broker.

A BROKER’S MINIMUM DUTIES REQUIRED BY LAW (A client is the person or party that the broker represents):

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Put the interests of the client above all others, including the broker’s own interests; Inform the client of any material information about the property or transaction received by the broker; Answer the client’s questions and present any offer to or counter-offer from the client; and Treat all parties to a real estate transaction honestly and fairly.

A LICENSE HOLDER CAN REPRESENT A PARTY IN A REAL ESTATE TRANSACTION: AS AGENT FOR OWNER (SELLER/LANDLORD): The broker becomes the property owner's agent through an agreement with the owner, usually in a written listing to sell or property management agreement. An owner's agent must perform the broker’s minimum duties above and must inform the owner of any material information about the property or transaction known by the agent, including information disclosed to the agent or subagent by the buyer or buyer’s agent.

AS AGENT FOR BUYER/ TENANT: The broker becomes the buyer/tenant's agent by agreeing to represent the buyer, usually through a written representation agreement. A buyer's agent must perform the broker’s minimum duties above and must inform the buyer of any material information about the property or transaction known by the agent, including information disclosed to the agent by the seller or seller’s agent.

AS AGENT FOR BOTH - INTERMEDIARY: To act as an intermediary between the parties the broker must first obtain the written agreement of each party to the transaction. The written agreement must state who will pay the broker and, in conspicuous bold or underlined print, set forth the broker's obligations as an intermediary. A broker who acts as an intermediary:

Information About Brokerage Services ● ●

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Must treat all parties to the transaction impartially and fairly; May, with the parties' written consent, appoint a different license holder associated with the broker to each party (owner an d buyer) to communicate with, provide opinions and advice to, and carry out the instructions of each party to the transaction.

Must not, unless specifically authorized in writing to do so by the party, disclose: ᴑ that the owner will accept a price less than the written asking price; ᴑ that the buyer/tenant will pay a price greater than the price submitted in a written offer; and ᴑ any confidential information or any other information that a party specifically instructs the broker in writing not to disclose, unless required to do so by law.

AS SUBAGENT: A license holder acts as a subagent when aiding a buyer in a transaction without an agreement to represent the buyer. A subagent can assist the buyer but does not represent the buyer and must place the interests of the owner first.

TO AVOID DISPUTES, ALL AGREEMENTS BETWEEN YOU AND A BROKER SHOULD BE IN WRITING AND CLEARLY ESTABLISH:

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The broker’s duties and responsibilities to you, and your obligations under the representation agreement.

Who will pay the broker for services provided to you, when payment will be made and how the payment will be calculated.

LICENSE HOLDER CONTACT INFORMATION: This notice is being provided for information purposes. It does not create an obligation for you to use the broker’s services. Please acknowledge receipt of this notice below and retain a copy for your records.