By: Patrick
In reply to <a href="https://theclose.com/real-estate-farming/comment-page-4/#comment-117669">Chris Linsell</a>.
Hi Chris
I work in Melbourne Australia and just started my own real estate business. My target niche market is high- end luxury homes with a starting price point above $2 million per property listing. My aim is to list and sell between 15-20 properties within first year of service.
I don’t want to use print postcards for letterbox besides Just Listed, Open Viewing Invitation, Auction Invitation and Just Sold postcards that is included within Vendor Paid Marketing. My focus is direct email giving prospective vendors market suburb updates which is done via REALTAIR digital link the prospect vendors click via email with all their personal details, welcome message, recent property sales, and a button to request an on-site appraisal/valuation and lastly a VCard with my contact details.
I also will send out other emails about the market, community, etc.
My social media pages both personal and business require constant posts weekly and l do want to invest in social media advertising on Facebook & Instagram.
Can you give me more ideas about my niche- market on how to develop an exclusive brand reputation amongst high-end luxury homeowners knowing that the digital space creates perception in people’s minds but keeping myself and business very authentic, personalised service and professional ethics is who l am — its all about the client and what value can l give them. Thanks!
By: Brad
In reply to <a href="https://theclose.com/real-estate-farming/comment-page-5/#comment-284283">Antoinette</a>.
Hi Antionette - where is your farm area? Love to stay up to date on how it's working for you ;-)
By: Chris Linsell
In reply to <a href="https://theclose.com/real-estate-farming/comment-page-6/#comment-294661">Kim Keller</a>.
Hi Kim -
Thanks for the questions. Yes, I think your strategy sounds like a good one. While these owners are spread out across Canada, this is still geographic marketing. If I were you, I would get as personalized as possible with my marketing to each owner. The more you can speak to their specific home and their specific scenario, the better. And remember, owners of second homes are often wealthier than the average homeowner, and are regularly willing to pay for convenience. Create a message in your value prop that lays out the convenience of selling their home with you, and the opportunities that would afford them.
Good luck!
Chris
By: Kim Keller
Hi. I have a question. I am CANADIAN, but live in Scottsdale AZ and am a Realtor with Coldwell Banker. We have a lot of snowbirds and I am looking to farm my neighborhood that has so many Canadian home owners. With the current situation, Canadians have been selling their 2nd homes due to restrictions and high US dollar. Any recommendations? I have sent personal letters, and would like to market to these homeowners that live in Canada. Regular postcard is what I will do. Should I include a market update? Info about selling in the US? Me? Coldwell Banker? Help is needed. Thanks.
By: Derek
In reply to <a href="https://theclose.com/real-estate-farming/comment-page-5/#comment-287677">Canadian Agent</a>.
Hello Dan,
Fellow Canadian agent here. We are looking at setting up a farm and would love the opportunity to pick your brain since you've been successful at it for the last 20 years in Canada.
I can be contacted at info@primepropertieson.com
By: Chris Linsell
In reply to <a href="https://theclose.com/real-estate-farming/comment-page-5/#comment-287677">Canadian Agent</a>.
Hi Dan -
Great tips! Glad to hear you're hitting farming hard, it's fun to hear about how it's working for agents.
Keep up the good work!
Chris
By: Canadian Agent
Some good info here. I've been a successful geographic farmer for over 20 years, it really works but consistency is extremely important. I suggest at least 1,000 homes to start, in an area with at least 7% turnover per year. Of those 70 listings a great farmer can get 25-50% of the listings. Expect a 5-10% market share by year two if you hit it hard. I send out 6 x9 postcards with color on both sides from eprint fast. I typically have 2 designs that look almost identical except for different background photos and message- Call Me Today for Top Dollar! on the front. A short bio about my love for the area on the back. Brand yourself as the "Highland Creek Specialist" or "The Maple Green School Neighborhood Specialist" or whatever is a recognizable small community in your area. Don't call yourself the Florida Specialist etc as it is way too broad. You are going to have to send out your postcard every ten days for the first 3 months. Yup. Repetition is the key to success. Personally I don't think you need to send an item of value. Just keep pounding your name out there to gain top of mind awareness in your farm. Don't worry about the weirdos that may call to say take me off your list. It just shows people are noticing your marketing. After 3 months you can back off to every 15 days for the rest of your life. When you list something send out a black and white flyer ( but same branding and look) to keep costs down. Same when you sell something. Every 90 days send out a scratchpad/ notepad instead of your postcard. There are lots of places online that print these- typically these are 20-25 cents per unit. Put branding on your car and drive slowly thru the area every day on every street. People notice you. Park at the local coffee shop and look busy while having a coffee. Wear a nametag. When you get a listing use a branded for sale sign and 10 branded house for sale arrows throughout the neighborhood. Do open houses as often as you can and use branded directional arrow signs. I have 20 and put at least 2 on every corner. These are the basics and they really work. It is not cheap I know- I typically spend about 15-20% of income on my farm in an area with an avg price of 1.6 million. Good Luck!
By: Stan
Hi.
You wrote an article on Farming and mentioned Geographic Farming.
I called Geographic Farming and entered “1” to reach sales. It rang, then went silent and finally a voice said “It’s not convenient for me to answer the phone” I believe that is Verbatim.
That was a big put off – using the word “convenient”.
Isn’t greatness achieved when people come out of their comfort zone (i.e. convenient)?
Maybe they need sales training 101.
Is their service any good?
Maybe they need competition to up their game?
FYI.
Thanks,
Stan
By: Chris Linsell
In reply to <a href="https://theclose.com/real-estate-farming/comment-page-5/#comment-284283">Antoinette</a>.
Hi Antoinette -
Thanks for the comment, glad we could help. Keep up the hard work!
Chris
By: Antoinette
I am a new agent, actually we are a new property company. I find your comments very useful as I was falling around from one area to the other and did not establish a farming area. I will use your advise and use my closest area where I live as my farming area.