With 71% of realtors specializing in residential real estate, there’s no question about the competitive nature of the industry. In a crowded field facing new challenges due to Covid-19 restrictions, how can you rise above the rest? The answer may be more simple than you’d expect: real estate farming. Don’t worry—we’re not asking you to head to the fields in a pair of overalls. Rather, we’re asking you to strategically nurture leads in a given area so that you can one day reap the benefits of what is sure to be a “plentiful harvest.”
You reap what you sow.
Real estate farming is a highly effective strategy some of the most successful agents in the nation use to position themselves as the “go-to” agent for a particular neighborhood. While this notion of real estate farming might sound ambiguous and this idea of becoming the “go-to” agent might sound like a platitude, bear with us. Consider this handy formula to help you wrap your mind around how you too can leverage this tried and true strategy:
Local Specialization + Tailored Messaging + Regular Delivery= Real Estate Farming
You might be wondering how such a simple practice could be effective. Statistically, real estate farming is a proven means of developing a consistent source of buyer and seller leads. In fact, when executed consistently, your ROI on farming will improve exponentially as you gain name recognition and hone in on messaging that resonates with your local customer base.
Before we dive into some tips to help you get started: we should get one thing out in the open—real estate farming isn’t cheap. In fact, to effectively farm a neighborhood, you’ll need to be prepared to invest ~$10,000 on things like post cards, a website, flyers, and Facebook ads. That said, the statistics on this tried and true practice guarantee bang for your buck.
1. Combine Direct Mail Efforts With Email Campaigns
While the demographic research you’ll need to do for your specific farm will help you hone your primary form of communication with potential leads, experimentation and testing are the keys to successful marketing tactics that resonate. While those who fall into the categories of “Millennial” or “Gen Z” might be more likely to click on a Facebook ad or open an email than an average “Baby Boomer, you can be sure you’re covering all your bases by combining direct mail efforts with email campaigns. Need help getting started? Check out Zip Your Flyer for email + print newsletter options and Canva for an incredible host of creative (and free) DIY postcard templates. Want to get really creative? Try sending out NFL Football schedule magnets with your contact info!
2. Get Personal with Holiday Deliveries? Easy As Pie.
What things come to mind when you think of the holiday season? Food, drink, and family—are we right? Covid-19 aside, the holidays are still coming and you’d be surprised by what a little thoughtfulness can accomplish. Drop off a homemade (or store bought) pie with a hand-written note and your phone might just start ringing off the hook.
3. Rediscover the Lost Art of The Phone Call (And Text)
You don’t need to be 6 feet apart (or to be wearing a mask) to make a phone call or send a text! In a time when so many people are feeling isolated, bridge the gap by initiating a conversation. The National Association of Realtors reports that people (especially those with children), are showing an increased desire for larger homes with yards than they ever did before the pandemic. If you actually pick up your phone, you are more likely than not to end up on the phone with one of these people looking to make a change!
What are you waiting for? Start nurturing your real estate farm today and as soon as that phone of yours starts ringing off the hook, give us a call to learn how Radius Assist, our premiere lead qualification service, can take the work off your plate. If you’re an agent looking to make a change, be sure to check out Radius Agent Realty, our full-service (yes, that includes marketing support), 100% commission brokerage. Now, go and get to work, farmer!