Want the latest real estate farming tips and strategies?
Almost every successful real estate agent or team will tell you that farming is critical to their businesses. “Farming” is so much more than just sending out a few postcards or letters to your neighborhood every few months. There are steps you need to take in order to define your geographic farm and then to build a consistent marketing plan and then finding new ways to become a part of the community.
In the videos below, Ian Marshall with eXp Realty shares his strategy for selecting his farm and building those relationships over time.
Real Estate Farming 101
Real Estate Farming – Advanced Strategies
A few quick take-aways from the real estate farming videos:
Research the sales in the neighborhood you want to target — there needs to be a good turn-over rate, an average sales price that is high enough to offset the cost of the marketing you’ll be doing in the years to come and of course, consider the potential market share. If there are two agents that sell 75% of the homes, it may be a bit more challenging. Not impossible, just challenging!
Develop your farming marketing strategy — are you going to send 5 or 20 mailers a year? How can you make the content relevant to the neighborhood? Are you going to volunteer or sponsor neighborhood activities? What can you do to make a difference (and an impact)?
Tracking your success – It is important to be committed to your farming “adventure” for at least 18 months and to track the success and adjust your marketing plan accordingly.