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Real Estate Farming 101
So, What Is Farming in Real Estate?
Real estate farming is one of the new trends in real estate marketing. It is a marketing strategy that involves planting and nurturing real estate leads with the intention of converting them into clients. There are two main real estate farming techniques: Geographic farming (also called geo-farming) – Geo farming is the practice of focusing your real estate marketing efforts on a particular neighborhood or area. Demographic farming (also called niche farming) – This involves targeting a particular demographic within your geographical farming area.
How to Select the Right Real Estate Farm Area
Your choice of a geographic farming area will be influenced by factors such as location, demographics, competition, turnover, and size. Here is how to select a farming area that will generate the best return on investment:
1. Choose an area close to your home. 2. Conduct some research on your farming area. 3. Choose a geographic farming area with clear boundaries. 4. Consider the size of your farming area. 5. Compare multiple areas. 6. Calculate the cost of real estate farming.
How to Become More Visible in Your Real Estate Farm Area
Once you’ve selected a suitable farm area, the next step is to establish yourself as an authority. Here is how you can make a name for yourself in the farm area:
1. Set up a professional website. 2. Get access to homeowner data. 3. Attend local meetup groups and events. 4. Participate in online real estate forums.
5 Steps to Choosing the Right Real Estate Farm Area
Choosing the right farm area starts with research. Study the demographics, look at the number of homes and apartments in a particular area, review historical sales data, and consider the potential for future sales.
Here are the five steps to picking a real estate farm area: 1. Consider Your Region & Demographics. 2. Evaluate Personal Preferences & Interests. 3. Define Boundaries. 4. Research Sales Activity in Potential Farm Areas. 5. Research the Competition and Finalize Your Farm Area.
GETTING STARTED IN YOUR AREA
Here are nine ways to start building your presence in your farm area while prospecting:
1. Create Direct Mail Campaigns. 2. Distribute Door Hangers. 3. Walk Around Your Neighborhood & Meet People. 4. Buy ZIP Code-specific Advertising on Zillow. 5. Target Buyers on Facebook & Instagram. 6. Participate in Online Local Forums. 7. Attend Local Events & Meetup Groups. 8. Sign Up for Exclusive Leads. 9. Set Up a Farm-focused Website.