5 Steps to Dominate with a Geo Farming Strategy
You want to be identified as a hyper-local expert, so let’s start on your real estate geo-farming domination plan!
Map your track record/database
The first step toward choosing a geographic farm is identifying where you have the most influence. Really look into all those past sales and your database. You’ll obviously have more success in the area where you’re most known, and you may be surprised once you actually map out all your deals and database.
Make sure the annual turnover rate is higher than 6%
Step two in the process is making sure there will be enough deals in your selected area to make it worth your while. Do the research (include your title rep for help, if need be) and make sure the annual turnover rate in the community you’re considering is at least six percent. Get into the nitty gritty data to have a clear idea on how to start your geo farming strategy.
How many homes can you effectively manage?
Be honest with yourself and remember that overwhelming your schedule will get you nowhere. It’s better that you’re aligned with reality and have your focus centered on what can be done effectively and efficiently.
What’s your budget…sweat equity or check equity?
There are many factors involved in the decision of how to reach the people within your geographic farm, but none bigger than your financial situation and what your schedule currently allows. Will you invest cash in direct mail marketing to spread the word, or will you invest your time in doorknocking and other “press the flesh” activities? Either way, make sure to take advantage of email marketing and social media, which are both virtually free!
Plant seeds, cultivate, nurture and harvest!
In order for your geo farming to work, you have to look at it almost like planting a garden. It starts by planting seeds, cultivating those leads, nurturing them with your knowledge and then finally harvesting them! By farming consistently over time, you can shorten that process considerably and will eventually start getting all the “Come List Me” calls.
Download our handy 5-step checklist right here.
Campaigning is the Way to Win
There are so many ways for you to accomplish a successful geo farming strategy. Here are the top 10 campaigns I recommend you consider. Of these 10, start with just two or three so you can give them all your focus! Then as you systematize those processes, you can add more.
- Direct Mail
- Door Knocking/ Door Drops
- Mega and Open Houses
- Facebook Advertising
- Zillow, Realtor and Trulia
- Zillow – Make Me Moves
- Videos on the Community
- Expireds (old and new) and FSBO’s
- Community Functions
- Non-Owner Occupiers