Here are some of the most frequently asked questions (and answers) about real estate farming.
Real Estate Farming Frequently Asked Questions
How many homes should I include in my real estate farm?
You should include less than 500 homes in your real estate farm. Real estate farming is an effective marketing strategy, but bigger isn’t always better. With real estate farmaing, you target a specific set of homes, with a clear message that adds a particular value. The bigger that selection of homes, the less likely you are to deliver messages that appeal to all of them. Keep your farm small so you can focus your message and deliver more value.
How much of my real estate farming message should be about the local real estate market?
Make 30% of your message about the market and the rest about the community. Statistics are relevant and of interest to everyone that owns a house in our real estate farm. Market conditions and specific statistics are also great conversation starters. The only thing is these types of messages aren’t very exciting to someone who’s not ready to buy or sell.
What kind of results should I expect from my real estate farm?
Successful real estate farms yield around 30% of the transactions from a particular area. Of course, every market is different. Your success depends on area-specific information, including the types of homes in the market, other real estate agent competition in your particular farm, and how long you’ve been active, and how deep the reach of your offline online real estate farming reaches.
How long does it take for a real estate farm to yield results?
Real estate farming will likely yield some immediate returns on your efforts. The leads you capture in the first three months from your farm are likely people who were ready to pull the trigger on buying or selling; however, real estate farming is not an overnight success strategy. Real estate farming takes time. Give yourself a year with this strategy before measuring the results.
Are there real estate farming companies that will execute my strategy for me?
Try a company called Geographic Farming. If you take a look at their website, you’ll see they demonstrate to a good handle on the real estate farming.
Conclusion: Real Estate Farming
Real estate farming is an effective means of real estate prospecting. It can develop a consistent source of real estate seller leads and real estate buyer leads. With real estate farming your ROI rate (return on investment rate) increases over time, as more people recognize you, and as your sales stats in the neighborhood improve.
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