Farming 101 for Realtors
Many of our clients use InfoCards to farm a specific geographic area. Farming is a valuable marketing strategy that involves planting, nurturing and cultivating real estate leads that grow into future business. Done correctly, you can capture 30%+ of all sales in your target area. There are some best practices that you can use to maximize a farming strategy:
Use census data or internal reporting tools to check the average homeowner age, average sale price and turnover rate in the neighborhood to make sure it aligns with your real estate business goals. The turnover rate of a neighborhood is particularly important when evaluating a new area for farming. The benchmark is at least a 5% annual turnover rate for it to be a good candidate.
If there is a well-established realtor in that neighborhood, you need to identify how you can serve the same community in a different way. Also, give yourself a longer runway to see results. Carving out your niche will take time, but there is room for more than one realtor if you bring something unique to the table.
People need to associate you with their neighborhood in order to know, trust and like you! The most important piece of a farming strategy is choosing an area where you have a connection to the community --
- grew up in the neighborhood
- kids attend the local school
- serve on a community board
- frequently host local events
- existing marketing activities
It takes people 5- 7 impressions before they remember you and your brand. You need to stay in front of your prospect with regular touch points throughout the year.
InfoCards & Farming
Using InfoCards to build your brand's recognition in a targeted area has proven to be very successful. Following the best practices is key! The stronger the connection in the farming area, the faster our clients see results. We have the distinct advantage of seeing how our clients farm successfully.
If you want to strategize on how to leverage this tactic for your business, reach out and we’ll help you put together a plan.