It doesn’t matter if you’re just getting started in real estate, or if you’ve been working in real estate for years, real estate farming is one of the time-tested strategies for generating buyer and seller leads.
Some agents may scoff at real estate farming in 2021 because the internet has enabled many agents to stay home and generate leads online but the simple fact is that geographic neighborhood farming is an effective way to generate leads without breaking the bank.
How To Get Started With Neighborhood Farming
Tip #1 – Start In An Area That You Already Know – This tip is important because time is valuable and there’s nothing easier than starting neighborhood farming in an area that you already have built-in experience.
It doesn’t matter if people know you as ‘the kid’ who played baseball or basketball at the park, once you start marketing yourself as a realtor to your local area, you’re going to generate leads quicker than focusing on marketing to an area where you don’t have any experience.
Starting with your local area is also important because people will be more likely to buy or sell in that area if they are dealing with an agent who has a local address compared to someone who doesn’t live there.
Tip #2 – The Real Estate Farm Should Not Have More Than 500 Houses
Even though it may seem better to focus on a bigger audience, choosing a smaller real estate farm is better because having a tighter farm will make it easier for you to have a firm grasp of what’s happening in that area and it will also keep your marketing costs low as well.
Tip #3 – Make Sure Homes In Your Target Area Are Selling
Let’s say that you’ve decided to establish your real estate farm in the neighborhood that you grew up in, and it has about 300 homes, this is a win-win situation but, you should also make sure that homes there are selling.
If after doing some research you’ve found that homes in your real estate farm are not selling, it may be that the area has been underserved by other real estate agents so it’s best to research the area further before investing your time there.
Tip #4 – Research The Area Thoroughly
You’re excited about investing time in your real estate farm but before moving forward it’s important to take the time to research the area thoroughly.
Before you start ‘farming’, you have to know more about properties there including median lot size, home style, dimensions or features of homes, and the median sales price of homes that have sold there recently.
Tip #5 – Start Real Estate Farming!
Last of all, but most important, it’s time to start farming!
To get started with real estate farming, it’s best to start knocking on doors and introducing yourself personally to homeowners there.
Once you have visited every home in your real estate ‘farm’, the next step is to start sending marketing messages out to homeowners in the mail. These messages must be personalized and have a consistent marketing message that offers value while also having a strong call to action.
Remember, the key to success with real estate farming is consistency so it’s best to create a calendar for how often you intend on mailing your farm or visiting it in person because that consistency will produce results.
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