Before you start a geographic farm, as a realtor you need to understand the realistic expectations about it. Farming is not “lead generation” per se. It’s a long term investment in your “brand,” and it takes time and following “best practices” to get the most out of it. Watch this short video to learn more.
Geographic farming and how to generate real estate seller leads … what every realtor should know before starting. So how should you do geographic farming right?
The first thing is that you have to have the right expectations for the timeline of real estate lead generation through geographic farming. So, let’s first talk about what expectations you should have for your real estate business when using geographic farming as one of your real estate marketing tools.
Geographic farming is a marketing investment in your real estate brand. It’s not one of those do something now and get hot leads tomorrow type of real estate marketing ideas.
Investing in geographic farming for the long-term to maximize real estate lead generation and create effective real estate marketing products for your real estate brand
It’s a marketing investment in your real estate brand. It’s an investment in your realtor brand. You don’t put money into the stock market and expect next month you are going to make a huge profit and geographic farming works similarly as a real estate agent marketing tool. It’s sort of like your retirement account, except geographic farming is a lot faster than retirement.
You invest money in geographic farming and you keep putting money in, and it eventually starts to bring a return. The longer you keep your real estate brand there, the more return it starts to bring back in terms of real estate lead generation and motivated seller leads. So the expectation realistically is you’ve got to be willing to put a stake in the ground with your geographic farming and say I’m here for at least 2 – 3 years.
Now if you talk to people who have done it, who are successful with geographic farming, what they will tell you is to not expect anything the first year. The second year your real estate business can expect 1 or 2 successful real estate leads out of its geographic farming. For a geographic farm of around 1,000 homes, this is the return you can expect in terms of listings in the first couple of years.
It takes about 2 – 3 years before you start to get a rhythm, and 3 – 5 years before you start to really dominate the area in terms of real estate lead generation where you are geographic farming. That’s the typical real estate agent marketing approach when implementing geographic farming as one of your real estate marketing tools.
How to generate real estate leads quicker using geographic farming
I think there are some things that we’ve done with our realtor clients—and we’ll discuss these along the way here—that if you do geographic farming right, you can start to expect several transactions in your first year and at least have it pay for itself, if not more.
Then in the second year, you are really building momentum on your geographic farming in terms of real estate lead generation and successful transactions. I know one of our real estate agent clients, within 18 months, went from a nobody in his farm (and this is like a 1,500 home farm) to controlling 22% of all the listings on the market. He outsold the agent ranked second there by 7 times within 18 months.
So there are all kind of real estate marketing ideas that you can do if you do geographic farming right that will really put your real estate lead generation into overdrive.
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