Several real estate agents use postcards or real estate farming to create brand awareness in a specific area they might be targeting.
While this strategy can help you harvest listings, leads, referrals, and even closing in your target area, it will not expose you to the national market.
If you consider plowing into real estate farming, you need to know what to do to maximize your marketing efforts. Here are some key things you should consider before starting a farming venture.
What You Should Do
If you are new to real estate or have been in the industry for some time and want to try selling your brand using a real estate postcard, here is what you should consider doing.
1. Use Effective Brand Messaging
Real estate agents who use postcards should have a constant presence in their community. This means being virtually, professionally, and personally with your target.
You need to have a well-planned message and use statistics to gain helpful information about your target and community. Build brand awareness through event participation, neighborhood signage, and sponsorships.
2. Do Thorough Research
You need to select the right area for real estate farming. Also, consider the proximity of your target area to your office, home, and other established brokerage firms or real estate agents who already command a good share of the community.
3. Do the Math
Ensure the absorption rates, home sales, and turnover in your farming area are encouraging. Your agency’s track record should be in line with your target area. This way, you will have the trust and confidence of the sellers and buyers.
4. Understand the Region
You need to be an expert in your target area. This means knowing more about that area and the people in it.
5. Make Yourself Visible
The whole idea of real estate farming is to bombard an area with a consistent, positive, and direct message about your business. Use website emails, local signage, door hangers, internet advertising, real estate postcards, and other cost-effective marketing strategies.
What You Should Not Do
Real estate farming allows you to establish yourself in a particular area. While this may sound promising, several things can kill your marketing efforts and your brand. Here is what you shouldn’t do.
1. Insufficient Marketing
Identifying a target market is not enough. Let your target know your presence. An excellent real estate farming strategy relies on excellent communication.
2. Wrong Choice of Market
Do not pick an unfamiliar neighborhood or an area too far from your office or home. You want to choose a size you understand and is close to you so you can make gain quick access if you need to.
3. Not Maintaining a Professional or Personal Presence
Property sellers and buyers need to know that they can trust the person they are dealing with. This means frequent personal and professional interactions.
Do not handle real estate business deals over the phone or spend limited time in your target location. This will lead to mistrust, and you will lose sales and leads.
Wrapping It Up
Real estate farming can pay huge rewards when well executed. The trick is to identify the right area and focus your attention and branding on that area. At first, this will take a lot of your time, effort, and legwork, but be rest assured that your efforts will reap a rewarding harvest.