As a real estate agent, I’m pretty sure you’re aware of farming, but I’m astonished at the number of agents I encounter that do not follow the practice.
Let me try to make a comparison. In the multi-family housing market, your property competes against nearby properties. For example, if I search for “apartments in Pittsburgh,” I receive forty-six million two hundred thousand results. That’s a lot of competition! But if I search for “apartments in squirrel hill Pittsburgh”, I receive seventy-four results. For which term would you prefer to compete? This is just the same for real estate agents. For “real estate agent Pittsburgh” there are fifty-two million two hundred thousand results, but for “real estate agent squirrel hill Pittsburgh” there are seventy-nine results. I don’t know about you, but I like the second number a lot more.
I don’t need to tell any of you that real estate is a competitive business, but if you can reduce the competition to a manageable number where you have an opportunity to stand out, why wouldn’t you do it?
I found an excellent article that goes into depth on how to select your farm and then how to build authority on that farm. If you’ve ever considered farming, or if you are struggling on your farm, I encourage you to study this information enthusiastically.
Real estate farming is the process by which a real estate agent selects and markets to a specific geographic area or type of client. Most real estate farming is geographic; to select and farm your own area, determine area boundaries, research the community, and make sure that area sales levels will ensure ongoing revenue.
If you’re just starting out and need a place you already know to farm, consider your own neighborhood. Not only do you know the area well, but you can use a community networking platform like Parkbench to further position yourself as an expert in the area.
Need more local marketing tips? Check out The Essential Marketing Guide for Real Estate Professionals