To make more money as a real estate agent, you need to test what works and what doesn’t work in a marketing campaign. To avoid a lot of frustration, it helps to do some homework first. The best way to do this is to research where you plan to sell real estate locally. Look at your competition and learn more about your market.
Real Estate Farming Ideas that Work
To begin the process, go online and prepare your strategy. This involves choosing areas close to where you live and making comparisons. Naturally, it is easier to connect with leads if you are already part of a community. Therefore, you need to use real estate farming to formulate a marketing plan and strategy. Therefore, you need to use real estate farming to formulate a marketing plan and strategy. And don’t forget that having a good cap rate formula will get you far!
Real estate farming involves setting up one or more local geographic locations to market your real estate services. This technique involves getting to know your local market and finding out how to target the people who can benefit from your real estate services.
Read how to set up a marketing plan and use the real estate farming ideas below to increase your income and build your brand.
Establishing a Marketing Plan
The following steps will help you carry out your ideas for increasing your authority in the real estate marketplace.
Target Your Geographic Area(s)
Target the local real estate areas on which you want to focus. Use census data to find out residential income, average age, statistics about crime, commute times, area employers, attractions, activities, and popular neighborhoods and house styles.
When reviewing areas for your geo locations, check the average sales price for each area. Figure the price by looking at the MLS sales listings for the past 3 years and figure the median sales price per year from that data.
Also, give competing agents enough space to do their jobs. If an area is already saturated, or has an agent who is well known, you may have to rethink your strategy.
Choose a Demographic
Narrow down the scope of your marketing campaign by focusing on specific customers. For example, you may find out that many of your prospects are empty nesters or take part in activities, such as golf. If so, design your advertisements to appeal to their real estate needs and likes.
Put Your Ideas into Action
Now you are ready to put your ideas into action. Knowledge is power when it comes to marketing real estate.
Increase Your Local Influence
Once you have established your marketing area(s), use the following farming ideas to increase your local influence:
- Leave door hangers on doors with your contact details, including website and email.
- Send out postcards that announce new listings, pending sales, and just sold real estate. This will promote interest in your services and give people a local agent to call if they want to sell their house.
- Collect emails by adding a link to mailed postcards to download a real estate report. To download the report, the visitor has to provide their email first.
- Send a monthly real estate newsletter to the emails you collect.
- Sponsor a fundraiser for a local sports program or volunteer event.
- Share local real estate info on social media, including Twitter, Instagram, and Facebook.
- Write a blog about real estate and what’s happening in your local community.
You can make sales in real estate and build your brand locally. Use the above ideas to give you a competitive edge.
