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7 Important Strategies to Start Real Estate Farming

If you want to make as much money as possible in the real estate game (and make your job a bit easier in the process), real estate farming is one of your best options. But what exactly is real estate farming and how can you use this strategy to get more leads and close more deals?

The Basics of Real Estate Farming

We’ll start by covering the basics of real estate farming. What is this strategy that’s employed by so many real estate agents? Real estate farming is, essentially, a lead generation strategy designed to get you connected with as many potential clients as possible. Your goal is to become recognized as the foremost authority in a given area, such as a local neighborhood.

If you’re seen as the most authoritative expert in a given area, you’ll instantly have more brand recognition and authority. That means you won’t have to worry about external competition nearly as much; it also means you’ll stand to benefit more from word-of-mouth marketing and referrals, since many of the people you’re targeting will share the same neighborhoods.

It takes a long time for real estate farming to pay off, since you won’t be seen as the neighborhood’s go-to real estate agent overnight. But with the right strategies, you can establish yourself much faster – and ultimately earn far more clients.

The Most Important Strategies in Real Estate Farming

These are the most important strategies in real estate farming to follow:

  1. Choose the right neighborhood. Everything starts with your ability to choose the right neighborhood. There are likely dozens, or even hundreds of options for you to choose from, so how do you know what’s right for you? Ideally, you’ll choose a neighborhood that’s relatively close to you in proximity, or even one that you’ve lived in, personally. The better you know it, the better you’ll be able to serve it. You’ll also want to look for neighborhoods that don’t have a lot of competition; in other words, territory that isn’t already claimed or dominated by another real estate agent. This can be tough to do, especially in a highly desirable city, but don’t be afraid to look to the outskirts to find uncharted territory (especially if you’re new to the real estate game overall).
  2. Make yourself a niche expert. Next, get ready to make yourself a niche expert. If you want to be seen as the foremost authority on a given neighborhood, you need to know that neighborhood inside and out. That means you should be intimately familiar with the amenities of the area, the crime statistics, the school system, transportation access, and other variables that frequently concern real estate buyers and sellers. It also means you should spend time talking to the local population, researching your audience, and getting to know the people you’re about to serve much better. The greater your knowledge, the greater your potential will be.
  3. Get involved on social media. Social media is one of your most valuable tools, since it allows you to connect with so many local people simultaneously. It’s also completely free to create an account and start using it. One of your best strategies here is to get active in groups related to your target neighborhood; you’ll learn more and gain new connections in the process.
  4. Send postcards. Take advantage of real estate farming postcards. Postcards are inexpensive, they’re relatively easy to design, and they can target an entire neighborhood of people in one campaign. It’s a great way to introduce yourself to hundreds, or even thousands of people at once – and reinforce your branding as the foremost expert of a given area. They’re especially powerful when combined with other marketing and advertising strategies to make yourself more visible.
  5. Network. Every real estate agent knows the importance of networking, and if you’re real estate farming, this is no different. Spend time in the neighborhood you want to represent and make strong connections with the people there.
  6. Track leads. Make sure you have a thorough system to track your leads and measure your progress. This way, you won’t let any new opportunities slip through the cracks – and you’ll have a much better idea of how effective your other marketing strategies are.
  7. Get referrals. Referrals are one of the least expensive and most efficient ways to grow a business. Serve your clients well – and don’t be afraid to ask for referrals when the deal’s closed.

Real estate farming isn’t always the best approach, but it’s reliable and consistent for the people able to use it to its fullest potential. Start by reviewing the most popular and lucrative neighborhoods in your area, but remain flexible in your ongoing strategies. If you remain adaptable and continue progressing, you’ll eventually find success.