5 Tips to Maximize Your Real Estate Farming
Let Corefact help you become the best agent in town. Below is a free asset, tip, or marketing piece. Use this free content to reach out and remain at the forefront of your neighborhood's minds for any and all real estate needs.
Frequency and Consistency
This is a big one. Even if you mess up everything below, if you consistently market to your farm (with good content), you will eventually see activity. It’s like exercise and weight loss. There's no quick fix. It takes a long time for the body to reflect the effects of poor diet and lack of exercise (although it may feel like overnight), and your marketing plan will suffer from disuse as well. You must pick a well-thought-out program and stay with it. Don't forgo your marketing just because you're not seeing immediate results.
Quantity and Concentration
Make sure your farm is of a large enough quantity that you have a statistical chance of getting listing leads. Sure you can send to 100 homes, but it will probably take you a lot longer to get a solid lead. If you are set on a small number for whatever reason, add another form of marketing that puts you in front of that farm, like door-knocking, neighborhood garage sale, etc. The optimal number of houses is 350. That gives you a nice mix and won’t break the bank on a monthly basis. And keep it focused on a geographic area that is concentrated and not scattered among different smaller farms.
Obviously, the list itself needs to have certain qualities to provide you with the optimum opportunity to get listing leads. We talked about quantity, and you should also look at the turnover rate. How frequently do homes go on the market? Just because you might ‘love’ a certain geographic area, if it doesn’t have at least a four percent turnover rate, you should either walk away or plan for a longer haul. It’s better to fish where fish are. Farming based on life events has become more popular with data being more accessible. Just make sure you keep your list updated or you may find yourself marketing to people who have already moved out and on.
Getting the brand of you in front of your target market means that they are much more likely to remember you. A strong brand name and logo/image helps to keep you top of mind with your potential customers. A customer recognizing your brand could mean the difference between a no-sale and a sale. Even if the customer was not aware that you sell a particular product, if they trust your brand, they are likely to trust you. If a customer is happy with your services, a brand helps to build customer loyalty across your business.
The message or content of your direct mail is an important part of the success and in the case of using the Corefact Home Estimate feature, the measurement of your campaign. If your content is compelling, then you get the recipient to act. People are curious about the value of their home and having the map and Home Estimate on your direct mail spurs those who are interested into taking action. Their action is measurable and allows you to follow up according to your style.
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