Real estate farming is choosing to specialize in one demographic or geographic area where you unlock the potential to become an authority in that real estate market and subsequently, a sought-after commodity in and of yourself. It is achieved through consistency, efficiency, expertise and the right tools.
If you view real estate farming as a real farm, every move you make within that market is like sowing a seed. Crops take time and patience to be fruitful, but if you’re willing to do the work in the beginning and wait for roots to take hold, you’ll find that the payoff is well worth the initial effort.
The most common type of real estate farming is geographic farming. By focusing all your energy on one area, you’ll soon know its benefits and quirks like the back of your own hand, which is endlessly beneficial to your clients. Geographic farming is thought by many realtors to be the quickest way to see consistent leads.
Choosing the right farm area lays the foundation for your success. Many realtors choose to stay close to home for many reasons, beginning with the fact that you are more likely to already know the ins and outs of the neighborhood! Farming your own neighborhood will also make you easily available to your clients who are looking for a last-minute showing.
Other things to consider when choosing your farm area include:
- Local demographics
- Local amenities
- Level of desirability
- Your response to the neighborhood — your excitement is contagious
- Well-defined boundaries for targeted marketing
- Size of the area, or number of homes in the area
- Turnover rate and average sales price
Dominate Your Area
After you’ve chosen your geographic farm and done your research, it’s time to cash in on your hard work. Building your presence at this point should feel easy in comparison to choosing your farm; after all, all that research you did surely taught you everything you need to know about the neighborhood and your target audience!
Real estate farming makes marketing simpler and cleaner. Take direct mail marketing for example. It’s one of the oldest tricks in the book, and still one of the most effective marketing methods. Combine direct mail with a real estate farm, and you’ve discovered a well of opportunity, even without a traditional mailing list!
The same goes for door hangers, knocking on doors (as intimidating as it may be!), neighborhood events, and cold calls. All of these vital marketing tools will be made easier than ever when you choose to use real estate farming as the key to your success.
Real Estate Farming Today
The marketing tactics listed above are still an integral part of real estate sales, but surely you noticed that something was missing — online marketing. Clients expect their realtor to have an online presence, whether it’s a Facebook page or a website. But online marketing can be one of the most frustrating and difficult aspects of a marketing strategy. That is, unless you’re using real estate farming!
That’s right, real estate farming even simplifies online marketing. Focusing on a certain geographic area allows you to better use online forums, targeted Facebook ads and other social media, blogs, and search engine rankings. If you’re successfully utilizing online marketing for your geographic farm, leads will be able to seek you out more easily, or even stumble upon your name as they search for their dream home.
Dropping your name onto the internet can be as meaningless as pouring a cup of water into the ocean, or it can connect leads to realtors more efficiently than any other marketing strategy. One way to guarantee the latter is to employ the tactic of real estate farming, and generate your ads based on your farm of choice.
It’s hard to read about the many boons of real estate farming and not be itching to get started. Just remember to take the time to choose your farm carefully, and then don’t look back! The most successful real estate farms come from a place of true love for the area and dedication to its promotion and growth. When you combine those ingredients, the benefits to your business can only be positive. Click here to learn more about a customized real estate farming strategy designed just for you. Happy farming!