I remember when I first started in Real Estate, someone asked me if I had a farm. I had absolutely NO idea what they were talking about, so I smiled said yes, then prayed they didn’t ask me for more details.
What I later learned was that a “farm” refers to a geographic area in which you cultivate and grow (haha) business by being “top of mind”. What that used to mean would be door knocking, handing out flyers, and sending out mailers. And, while those things are still done today, it’s now also a task that leverages technology.
When you’re building a farm… stay tuned in to the following things:
- Budget – Keep marketing spend low at first. Be cautious of spend & return. Ideally, start with a budget and decide what you’re willing to invest.
- Strategy – Don’t always do what everyone else is doing.
- It’s ALL Numbers – Understand your numbers (how many homes and sales there are and have them broken down by price points) and addressable market (is there a dominant agent?)
- Frequency – You should touch 2x – 3x per month at first.
- Get involved – How can you get more involved in the community?
- Knowledge – Know the sales, the off market homes, what’s hit the market… and how that would impact your clients buying & selling in the market. Know the schools, parks, good streets, bad streets, who lives where… know it all!
Then… once you’ve got a farm, what do you do?
- Mega-Open Houses – You also need ALL the signs.
- Mailers – Build a story.
- Annual Success Piece – Let’s brag a little!
- Market Updates – Show off your knowledge.
- Culture – Help people understand who you are.
This is just a small portion to help you get started with your farm. For a full look at Day 3 at the Success Summit, check out our YouTube page.
Stay tuned for more info & content from my time in Anaheim. Until then, let’s keep in touch on social media.
Coldwell Banker United, REALTORS® – Metropolitan
Katie Day, REALTOR®, The MOVEMETOTX Team
2 Greenway Plaza #150 Houston, TX 77046
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