When we talk about “Farming” for real estate agents, we aren’t talking about tilling the fields and harvesting your crop…at least not literally. What we mean by Farming is working or prospecting an area of interest for sellers and buyers. For a refresher on Prospecting, check out our post called “What is Prospecting, Why is it Necessary, and Why it Scares Most Agents.”
The area you choose to farm (for clients) can be based on any special interest focusing on geographic or non-geographic factors. Your farm should be chosen on your personal goals, interests, and specific market area. How do you go about selecting your area?
1. Consult with your manager about available areas.
They may have a better idea of the market and can give you a sense of where the sellers and buyers are. Also, if you have good relationships with other agents, you can get tips from them as well.
2. Do you feel comfortable with the area?
It may seem obvious, but you would be surprised with how many agents make drive themselves crazy by planting their roots in an area that isn’t comfortable for them, no matter how many sales they’re making.
3. Is the economic base enough to support your goals?
Even if you like the area, you have to make sure you do the research to determine if there is enough inventory and if there are enough prospects.
4. Determine if you want the area.
200-300 homes is a good target in the beginning. Once you become more comfortable, you may want to expand your farm or even move to a new farm. Using these 4 points as criteria for selecting your farm, you will ensure that success will attend your efforts.
Developing Your Farm Part 2: Researching the Area
For a some industry-proven prospecting tips, check out our previous posts: Prospecting Tips Part 1, Prospecting Tips Part 2 If you are a new Florida real estate professional, make sure you complete your Post-Licensing Education before your 1st license expiration date. If you are a seasoned veteran, it’s never too early to get your Continuing Education done.
Either way, Larson Educational Services has you covered with timely and market-ready information taught in professional classrooms by instructors who care about your success. Learn more about the courses we have to offer in Fort Myers, Naples or Online at the following link – http://www.larsoned.com/realestate/ – or simply call a friendly Larson representative at (239) 344-7510.
Larson Educational Services looks forward to earning the right to be your real estate school of choice!
Larson Educational Services
3073 South Horseshoe Drive, Suite 122
Naples, FL 34104