Farming works but it takes along time for the pay-off. You might have more fun and get a better return on your time investment by socializing in the right circles. I use farming as office fill time only.

Hi There,

I was going through the same thought process as you.  I know quite a few agents that rely on farming and do great with it so if it works for them, why not me.  I picked out 500 rentil units in select complexes with higher rent and credit requirements. Using Mailprint I began mailing them all a postcard every three weeks at .69$ each.  I have been doing this for about 7 months and yet to have recieve one phone call.  I have decided to ditch the farming and create a few networking grops and charitable orgainizations.

Edward, as much as I hate to admit it, I've never had much luck with farming.  It takes such dedication of time and further, it simply won't work without knocking on doors and making phone calls.

A far better idea, I've found, is to farm my church, the Rotary Club, a PTA...some place where I see those people often, and when I mail them something or ask them about friends who may need my services, they are glad to help.

I actually do think farming an apartment project where the tenants are of the age, means, and inclination to want to own their own home or condo is actually a great place to cold call/farm.  I'd probably actually do that if I were in their age group.

I'm pretty new, and have started farming in two separate neighborhoods near my home. I've sent out two pieces (an introductory letter and a postcard announcing a neighborhood website that I set up) in my "home neighborhood," and have had some nice personal responses, but no actual business yet. But they now know I am a Realtor, and eager to work with them!

I just sent my first piece to the other area about three days ago, and don't expect an immediate response.

My advice is to NOT send too often. It's annoying and eventually people just "glaze over" when the next postcard or whatever arrives. I figure not more often than 4-6 times a year should be about right. And I'm not going to mail everything. At least one contact will involve good old-fashioned door-knocking. Setting up the website is a really good long-term (free) investment, IMO, where I can do a lot of subtle marketing without spending a dime.

I use Vista Print (www.vistaprint.com) for my printed items. They are cheap, fast, and good quality. I ordered 50 oversized postcards, printed in color on the front and b/w on the back, with my design (based on their templates) and contact info, for $20. Normal size cards would have been $10.

What's to get cold feet about? Just plunge in! :-)

I believe in farming and the branding of the real estate agent.  But instead of working owners -- contact your data source or title insurance company and get the data "qualified". 

The average time that someone stays in their home is over 5 years.  You would rather do a mailing to an owner that has lived in his home for over five years as they are most likely to move rather than the person that just moved in 6 months ago.

Look at the data to see who has a fixed rate vs. variable rate loan.  Are their values less than the loan amounts suggesting potential trouble?

I would also consider using your buyers as a farming tool.  Your buyer is looking for a specific type of property -- contact your data source and ask them for that specific data.  By bedrooms, bathrooms, neighborhood etc.  You can then put out a very specific letter to those properrties that meet your buyers criteria -- "Hello, My name is .... and I have a buyer interested in your type of properrty..... Then door knock or follow up with a phone call and introduce yourself following up on the letter -- If they don't want to sell -- ok -- they now know you and you no them better on what their situation is -- maybe they do want to sell but not yet etc.

There are two very good mailing services that I have used in the past.  The first being WebUSMail and the other being Procardsystems.  Check them out -- WebUSMail has post card and flyer templates and all you have to do is upload your data.  Very, very competitively priced and it takes the pain out of farming with specific information that is geared to real estate

Make it a profitable day!  Scott Hoen