Real Estate farming is a strategy that real estate agents employ to set themselves up as the go-to resource for a specific neighborhood. To successfully farm a neighborhood, you must first learn everything you can about different properties in the area and the people living there. After which, you create marketing strategies tailored to those specific people to be delivered regularly.
Real Estate farming is an extremely effective lead generation strategy, but you have a lot of homework you need to do before you can start nurturing these potential leads. The messaging you use needs to be well made to accelerate you toward becoming a friendly neighborhood real estate agent.
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Geographic farming is a highly effective strategy because it allows you to zoom in on your target audience and causes you to have laser focus on the kind of messages you use in your marketing. Rather than trying to be all things to all buyers and sellers, a real estate agent who farms knows more about who they’re targeting messages for.
First, you plant the seeds by identifying homes in a specific area that would be great candidates for sale someday. Then, you grow those seeds by building a relationship in the neighborhood with the owners of those homes through regular communication and community involvement.
Finally, when it comes time for those owners to sell their homes, you’re there to harvest the sales.
This long-term approach to consistent customized messaging puts you top of mind or at least in the running for just about every seller in that neighborhood and makes you an easy referral if anybody connected to those homeowners is looking to buy or sell.
When choosing a farm area, you should consider the following:
- How well do you know the area?
- How well do the people in the area know you?
- How many homes do you want on your farm? (Ideally no more than 500)
- How well do homes sell in the area?
Make sure you do your research on the following;
- Geographic outlook. – Geographic elements of the area that affect salability.
- Property Research- What are the typical properties in the area, and what types sell the most.
- Inventory- What is the market behavior in the area?
- Demographic- Understand who is in your target area.
Once you have all of that in order, use these strategies to become the go-to agent in your area:
- Always provide value- Your messages used in marketing to your target area should always bring value to your audience. Always remember the WIIFM (what’s in it for me?) factor as you create every single message.
- Don’t Forget a Call to Action- Ensure that all your messages have a call to action. Each message should have a goal, and your CTA must be directed to achieve that goal.
- Variety- While numbers and statistics can be constructive, not everyone will instantly be attracted to that message all the time. Make sure that you also have human interest messages or entertainment, etc. Variety in your content will ensure that your audience consumes your content.
- Be Consistent- Ensure that you have some branding or message consistency no matter what message you send out. You want to make sure that your prime objective is always clear and can be seen regardless of what your message is about.
Create multiple streams of engagement and nurture for all your leads and keep the above strategies in mind, and we do not doubt that you will become the go-to agent in your farm area!