If you want to gain more clients in a specific area, real estate farming is the way to go. When it comes to farming, there are many different techniques, but the most popular method is sending mailers. Even in the digital age that we’re currently in, farming is still a popular and effective way to build your database.
Let’s dive into farming, how it works, and how it can help you increase your business.
What Is Farming?
Real estate farming is a marketing strategy where you provide information to people in a specific demographic area to generate business. Sending people information about their neighborhood or city, such as market updates, just listed or sold properties or upcoming events, shows them that you know about their area.
Even if they’re not currently thinking about selling their home, your consistent information will keep your name top of mind when it comes time for them to sell or if someone they know is looking to buy or sell.
Research and Strategy
Before diving into farming, it’s essential to do your research and develop a strategy. It won’t take off immediately, but you want to be prepared when it does. Make sure you have the bandwidth behind the scenes to answer calls or any questions people might have.
Choose Your Target Audience
When choosing your audience, you want to make sure your money and resources will be well spent. Look into larger neighborhoods with many people within a specific age demographic and income level, especially if you want to target first-time homebuyers. Other factors to consider include:
- Desirability of the area
- Competition from other agents
- Turnover rate
- Average sales price of homes
Create Your Postcards
Make sure to create something that is eye-catching, informative, and brand-specific (don’t worry, we can help!). Using the same template each time with new information will help create brand recognition which will keep you top of mind. In addition to giving information about upcoming listings, don’t be afraid to promote yourself! Providing people with a market update on the homes you have sold in specific cities shows you know what you’re doing and can help them sell their homes when the time is right.
If you have any questions about real estate farming or how to get started, reach out to us! We would love to provide our expertise and allow you to focus on your strengths.