Plant the seeds and watch your business flourish.
Has your real estate business felt stagnant lately? Are you struggling to generate leads?
Sounds like real estate farming is the solution you need.
This highly lucrative strategy takes a specific area within your community and turns it into your businesses’ meal ticket by positioning you as the expert of that location.
It’s a proven strategy realtors have been using for decades since it has a high success rate when combined with the right marketing strategies. But, it all starts with selecting a booming location.
In this guide, we’ll discuss the benefits of real estate farming, plus how to find the perfect spot to call your farm home.
Benefits of farming in your real estate business
Think of real estate farming as an actual farm. You’re nurturing the soil (the chosen location) after planting the seeds (specific marketing tactics) to grow your vegetables (clientele).
And just like an actual farm, real estate farming requires extensive dedication. But don’t let that stop you from implementing this strategy in your business.
Here’s why real estate farming is the perfect lead generation tactic for your brand:
You attract more leads (and the right ones)
How many times have you said to yourself in your career, “I need more clients”? Real estate farming helps to take some of the pressure off your plate by establishing your farm in a specific area. This way, you attract more leads.
The right leads.
That’s because you gain more clarity as to who your ideal client is after studying the location heavily, and you’re able to market yourself more effectively to them.
You gain deeper knowledge of the area
If you aren’t already familiar with the community (more on that later), this strategy helps you become the go-to person for prospective clients in your chosen farming spot.
Planting your seeds in a farm location positions you as the expert of that area. You’re seen as all-knowing and are more equipped to lead and direct buyers on all the location has to offer by being prepared to answer specific questions.
Like, “How good are the schools?” “Is there a grocery store nearby?” “What restaurants are close to town?” “Are there any recreational spots like a gym or park?”
And, as every realtor knows, location can be a major selling point for some clients other than the house.
As you set up your farm, familiarize yourself with the area so that when buyers come to you in the future, you appear confident and always ready to answer questions, which adds more authority to your brand.
It boosts your real estate brand
Speaking of boosted authority, reputation is everything in real estate. As you implement marketing strategies for your farm and succeed with more closes, you elevate your social proof and win the trust of more clientele.
You build better relationships with future buyers
Similar to actual farming, success is not measured overnight. It takes months to watch what you plant grow, and the same is true in your real estate farm.
The more you market an area, the more relationships you build with future buyers and sellers. Nurturing these relationships are key to success as you gain trust of prospective clients and build authority for word of mouth marketing.
One of the best ways to build relationships with buyers or sellers in your area is to host or attend local events. This allows you to connect with clients face-to-face and garner leads of those who may need your services in the future.
How to find your real estate farm area
So, you know that real estate farming does wonders for your business, but the key is locking down the right farming location.
Not every neighborhood, town, or zip code is going to provide you with the results you’re after, so how do you find the perfect farming spot?
Start by considering these factors as you thoroughly research locations to plant your seeds and till your real estate farm.
1. Start with what you know
Some of the best real estate farming spots are areas such as your hometown or where you currently live. Why? Because you’re already an expert on the community and likely have connections to tap into.
More specifically, here’s how you can use your familiarity with the area to your advantage:
- Community knowledge: As buyers come to you, you’re able to provide them with key information on perks of the town such as nearby restaurants, stores, schools, and more.
- Connections: People feel more inclined to work with those they trust, and since those in your community already know you and trust you, you’re already starting off with a strong brand.
- Easy Client Acquisition: You’re able to connect with prospective clients at community events, while running errands, or through word of mouth marketing more easily than relying on cold leads.
2. Scout the competition
Before you get comfortable by settling into your hometown or a new location, you need to see if there’s already a farmer in your spot. If there is, odds are you’re not going to perform well since trust has already been established with someone else.
However, just because there is a farmer in the spot you’re considering doesn’t mean your business will fail. Study how the other farmer is marketing and look for any gaps you can fill.
See what specific demographics and geographic areas are left open by the other farmer and market effectively to these gaps.
3. Research more than one area
Before selecting a spot to farm, it’s smart to compare more than one area. You will need to choose a community that has the best numbers and opportunities in order to grow a successful business.
Consider these factors as you research and compare multiple areas:
- Demographics
- Average income
- Average sale price
- Turnover rate
- Commission rate
- Town amenities
Not only do these factors give you a better understanding of the clientele you’d be working with, they also indicate if the area is lucrative for you.
4. Look for future growth opportunities
As you start to nail down a farming spot, look at potential growth within the community. Check to see if the town is booming with more neighborhoods popping up or if activity is starting to dwindle.
Growing locations with more neighborhoods and residents moving to the community will provide you with more opportunities to seize in the future. The key to successful real estate farming is selecting a location with buzzing activity.
Find more clients today
Are you ready to discover a breakthrough in your real estate business?
Cole Information helps you find more clients within your farm through an ultra-tailored approach.
Our Realty Resource lead generation tool provides detailed insight on prospective clients in your area that are ready to buy or sell with the help of a custom search in our detailed database.
The best part? You no longer have to wait for leads to come to you.
Now, you’re able to devote more time to helping your current clients plus take control over your business as our database connects you with leads in a matter of seconds before the competition finds them.
Ready to start closing more doors? Schedule your live demo with Cole Information today to discover more leads and scale your business.
