Farming out of style? How do you get listings?

We're a small "mom-and-pop" size shop, but we are fortunate to have over 25 years of name recognition behind us.  We do limit listings to our own neighborhood - because we know almost everything there is to know about our own neighborhood.

I believe the neighborhood is part of what you are selling, and if I don't know diddly about the neighborhood, I'm not going to be able to really do my job.  Maybe that didn't matter a whole bunch in our recent hot market.  I think it will matter again now.

I don't believe in cold calling or door knocking.  But we do mail out postcards.  We advertise in local papers and the color books like Homes and Land and The Real Estate Book.  No, they don't always get immediate results.  But over the years, they built into that name recognition thing.

We support community groups and events, local school stuff, home tours, music festivals.  Over the years, people recognize and remember you.

If we were just starting out now would this be enough?  Would it work?  D#mned if I know!

After being in this business for 20 years, most of my buyer and sellers come to me either by referral or through the internet.  In the early years I did what most people do in terms of local marketing and I hated it.  The postcards, unless they were planning a move at that moment, were useless.  Nobody saved them.  The newsletters didn't work either. 

Of course that was my experience, YMMV.

Having been around for some time the vast majority of my business is repeat and referral.  However, I think one of the strongest ways to farm is with just listed, under contract and just sold postcards.  Nothing speaks louder than success.  I have seen this steam roll and turn an agent into the "neighborhood" expert after a while.  Get one sale, send cards, follow up with calls or walking the neighborhood.  Get another one, repeat.  Soon, you are the local expert.

I don't do it, but I've seen it work for many others.

Gerhard, intersting when you read these comments, they all have one thing in common, longevity. Mine is the same, I have stayed focused on the same market area for 12 years. I don't think it's any one thing that I do but more a combination of every thing taht I do being aimed at the same audience. Focus and consistency.

The advantage of listings is that I control the inventory, the price and the commission. IMO that is the way to go.

I would never take a listing more than 20 minutes from me, I'd refer it to a real estate agent in the vicinity. I think it does the customer a disservice to take a listing so far away from home.  But to each his own.

I'm focusing on a specific neighborhood and am trying out of the box ideas that make my phone ring.

In July I handed out 350 Flags.  I delivered them at night and when the neighborhood woke up they were all talking about the "Flag Lady".

For Halloween I'm doing the same things with pumpkins.  I'm even splitting the cost with a lender.  I got a great deal because the owner of the pumpkins also delivers my fresh christmas tree every year.  For 300 pumpkins I paid 1/2 of $345 and I got two $400k listings last year...You work the numbers.

Picking your farm area means you will be in control of the area you list in. Farming I think is a way to gain the awareness of an area. I think you can also "farm" your referral base. So you see they are your farm already. Today everyone would like to have geographical awareness but since most people are going online to find their next property there will be virtual farms in the future.

It has been said that "Listers Last." 
I take this to mean that the agents that get the most listings last the longest in this business.  How you get your listings, how you get your name recognized as the "one that sells houses around here" is up to you.  Creativity, and neighborhood participation go a long way.  I just showed a quad to a buyer, and on my way there, I passed a yard sale.  After I was done touring the quad with my buyer, I went to the yard sale.  I had my name tag on, of course, and struck up a conversation with someone at the yard sale, and now have another buyer to work with.  Working with buyers pays the bills, of course (eventually) but now I have two buyers and twice the work to do before I get my next check.  If I had two listings instead of two buyers, I could still get a check, because one of you other fine realtors out there just might sell my listing.  I will go where the market is, but I would prefer to be the sellers agent for multiple sellers than the buyers agent for multiple buyers.

This is an interesting post.  is the neighborhood Realtor with ttraditional neighborhood promotions going the way of the buggy whip?  I believe that RSS feeds and an online valuation tool on a Realtor's website are replacing the free pads and pens of yesteryear

Farming may work for some, but I think it is all Internet now.  Spend your money on online advertising.

Alpharetta Real Estate

I don't think that "farming" is out of fashion because of the Net or because a listing is taken outside of the farming area.

I'm working hard on farming on a couple of areas, but will not turn down a listing in another area. As they say, "listing to live" and if I can add another "farm area" or get a couple of additional cllients then I'm game.

Of course, I'm a new agent and right now the only thing that will limit me is -- am I licensed there? :-)

Toby

www.tobysellshomes.com

I myself have been involved primarily on the buyers side.  From the few listings I have done they have been predominantly with freinds, family, existing customers.  I have noticed some companies have a greater presence in certain areas, but in other areas there is great diversity.  I can typically pick out which listings are from advertising and which are strictly from a referal base.