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Do you have a farm? If you’re a Realtor®, you probably know that I’m not talking about acres of corn or hundreds of cattle.
A real estate farm is a specific geographic area where you develop your business. A neighborhood or group of neighborhoods become the place you focus your marketing efforts.
If I were to ask you right now, “Where’s your farm?” you’d probably be able to answer me. But what if I asked a few more questions?
When is the last time you sent postcards to your farm? How often do you reach out? What’s the newest development in your city that affects your farm area?
Do you know?
It’s Not a Farm if You Don’t Farm It
I’m not trying to be a jerk here, but one thing I’ve noticed is that many people have “farms” that they aren’t active in. I have a good friend who lives in the Midwest, and she points out that if you don’t farm your land, it quickly fills with weeds.
Weeds, in real estate, like competing Realtors®. Local groups that don’t know who you are. A complete lack of awareness of your name and brand.
You can’t let your farm go. If you do, someone else will show up, take over, and it won’t be yours anymore.
What Can a Farm Do For You?
So why bother? Maintaining a farm area takes a lot of time and effort. You have to be consistent and active in the community. People need to know who you are.
What are the benefits of having a real estate farm?
Convenience of Location. When you cultivate a farm area, you save yourself from having to run all over the place to serve clients. While you’ll probably have some customers outside the farm, having a local area of focus allows you to list and build relationships more easily. You can get more done in less time when your focus is on a specific area!
Build Deeper Relationships. It’s no secret that relationships take time. If you spread your efforts all over your city, you may have a lot of relationships, but none of them will be deep. The more consistent you are with your contacts, the more loyal they will be. A farm makes that easy.
Become the Go-To Realtor®. This is the #1 reason most real estate agents have a farm. When you become top-of-mind to the point that you’re the go-to agent in an area, you can get incredible results just by maintaining your efforts. You don’t have to sweat so hard to get business! You’ll also become the first person the residents think of when friends or family ask for a Realtor®, so you’ll get great referrals too.
Be a Better Expert. A farm area is localized by definition, so you don’t have to have your finger on what’s happening everywhere in your city. You can know a few things around town, but be an absolute expert in your farm area. New store? Change in local government? Zoning questions? You’ll know it all because you only have to know everything about a small area.
Farming is Worth the Effort
I’m not going to pretend that real estate farming is easy. It takes time and effort, just like regular farming. This is especially true if you’re starting from scratch.
You put in a lot of work, including:
- Farming postcards several times a year
- Participation in committees or local charities
- Door Knocking
- Cooperative marketing with local businesses
- Sponsoring charity events
- Sending a newsletter
But you get an incredible harvest. When you have a consistent stream of clients and referrals coming from a single area that you enjoy and can easily get to — nothing’s better!
Choose the right farm and then put in consistent marketing. Be patient. The fruit is worth the work!