New Angle on " Farming" and save GAS!

This sounds like a good plan- I should think about giving it a try

Hey Jeff, I have another twist on farming...a secret that really works for me. Whenever a new listing comes up in one of the nicer areas near me, I send out a letter (not a postcard) about "hey, have you been thinking about selling? and include a coupon for free market analysis. Why? First of all, whoever just listed the home, will be sending out a postcard about the new listing (or they should), then my letter goes out with the coupon - which usually ends up being the 2nd real estate info received in the mail within a week, I usually get 3 to 4 calls out of 50 sent. Works like a charm for me! Best of luck & wishing you a great 2008!

Jeff-  I do very similar things to define a farm and I also include the listing/selling agent information to determine their market penetration.

Carla- I don't understand what you are doing.  Are you soliciting a property that has just been listed with another agent? 

Vanessa, no no no. I am not soliciting a property that is listed with another agent. here is the scenario.

Home goes on the market listed by Brand X.  The Listing Agent at Brand X will probably be sending out Just Listed Postcards to homes surrounding this new listing.  But many potential sellers will look at this postcard and feel "maybe we would consider selling, but wouldn't it look funny to have 2 for sale signs from the same real estate office so close in vicinity of each other...I don't know", let's think about it.

Ok, then I notice this new listing, by pulling up a hot sheet since I do watch this particular neighborhood, seeing this new listing appear, so now I send out a letter to homes surrounding this listing which includes a "Valuable Market Analysis" coupon. I mention market conditions, even mention that a home was just listed in the neighborhood, are you thinking of selling too? And go on in my letter about myself & why it's a good time to consider selling, etc. I do NOT contact the new listing at all. Just the homes surrounding it. I have found that a letter works better than a postcard, especially if you mail a coupon inside. People feel this coupon is valuable, even hang onto it...some have called me 2 years later. It works. Think about it if you lived in the neighborhood, you see your neighbor down the road puts their house on the market. You get a postcard from that agent, announcing this new listing is for sale by a postcard or some type of mailing, then another agent sends out a mailing shortly afterwards, if someone was actually considering selling, this gives them a reason to take action and call. Honest, it works time and time again for me.

Does that other agent get mad at me? Not really. In fact, I end up working together with that agent by trying to hold open houses on the same date, and if I get a showing on my listing...I usually will line up an appointment to show that one too. Or vice versa. I don't care WHO sells my listing, just sell it. Does that help clear up what I have done a few times. It isn't often, but i will if business is slow & I tend to watch about a dozen areas closely, too much to cover for farming territory. If I know a particular area is heavily farmed by a certain agent, I don't bother with it. But with the cost of postage & supplies, I see several agents abandoning mailings.

Jeff and Carla - Great ideas!  Thank you for the insightful details that can help us maximize our efforts.