Written by Debbie De Grote.
I often see real estate agents waste time and money on farming by doing so ineffectively and without any strategy. Keep reading to learn about effective geographic farming—which involves focusing your real estate marketing efforts on one particular area or neighborhood. Plus, check out my free webinar: How to Select, Work, and Dominate Your Geographic Farm.
My introduction to real estate farming
I began my real estate career when I was 18. As part of my training, my broker would take me farming with him. It didn’t take me long to notice that he had signs everywhere in his geographic farm, and I knew that signs equaled commission dollars.
I followed along as he door knocked. I can still see it in my mind today. He had 5 x 7 index cards—each one had the homeowner’s name, details, and a space for him to write notes. He had a very simple and low-key approach, and homeowners were happy to see him! I thought, “Wow. This is easy!”
A rough start: My first farming experience
I couldn’t wait to start farming, and promptly and randomly chose an area, and drove out to claim it. I had no idea how to research it, and I chose a farm that was too expensive for my experience, with low turnover, and a major competitor living in the farm. I had neglected to ask an expert for help and I did zero research. Needless to say, my first door knocking experience was not quite as friendly or productive as I had witnessed when I was out with my broker.
I didn’t know what to say, I had no strategy and zero market and product knowledge. I ended up crying in my car. The whole first experience with geographic farming was totally disappointing. Maybe you can relate?
I went back to my office and told my broker “I quit farming. It’s awful.” After calming me down he helped me map out a strategy—just like we do at Excelleum with our coaching clients as they choose their farms.
Then he sent me out into a new and carefully selected area with my script, my plan, and my strategy. Did I love doing it? No, not at first, but it wasn’t terrible and I knew it had potential. I stuck with the plan and within my first 30 days I had a listing. Within my first 90 days, I had three listings and sold them all, double ending one of them. Now I was really starting to like it!
The keys to successful geographic farming
Over the years, my husband and I have made millions from geographic farming. Here are seven key points to being an effective farmer:
- Select a farm that is right for you. Choose an area you are comfortable in and that you know well. Consider an area that is convenient to your work.
- Do your research! Study your overall market trends, competition, and demographic make-up.
- Create a plan and stick to it.
- Frequency is key. Hit the farm twice a month to gain market share.
- Door knock! It is the fastest way to gain recognition.
- Create a marketing budget and calendar.
- Have scripts, practice, and perfect them.
Now it’s time for you to get to work! If you would like help avoiding the mistakes I made in my early years, contact us at Excelleum for help. Call (714) 625-5226 or visit excelleum.com.
Copyright © MMXVI Debbie De Grote. All rights reserved.
Geographic farming webinar
Want to learn more geographic farming strategies? Check out our free webinar: How to Select, Work, and Dominate Your Geographic Farm. This excellent webinar—free to McKissock customers—is presented by Debbie De Grote of Excelleum Coaching & Consulting.