How Do You Start Real Estate Farming if You Do NOT Have Any Listings?

Reblogger Frank Rubi
Real Estate Broker/Owner with Frank Rubi Real Estate, LLC La Broker 09995688826
Original content by Beth Atalay

How Do You Start Real Estate Farming if You Do NOT Have Any Listings?

Real Estate farming is probably one of the oldest methods to attract new buyers and sellers and make your phone ring.

What is Real Estate Farming? This method without a doubt is one of the tried and proven ways to make your phone ring. Ask any successful agent! By “farming” you are planting seeds for future business. As a REALTOR®, you become the “Go-To REALTOR®” for real estate related information. This could be done within a zip code, geographic area or within a subdivision.

How is Real Estate Farming Done? You would choose a method or methods you are comfortable with and well received in your marketplace. Keep in mind, what works in Beverly Hills CA may not work in Belpre OH. You could do a mail out when you have new listings, under contract listings as well as sold listings, announce an Open House, send out monthly newsletters, door knock, email, call..whatever you think would fit you as an individual as well as a REALTOR® and acceptable in the area you are about to farm.
Before you pick up your phone and start dialing phone numbers, be sure to verify the numbers you are dialing are NOT on the DNC list. That goes for subdivisions as well, in my area, most subdivisions have “No Solicitation” signs at the entrance which means..NO DOOR KNOCKING. I’ve heard agents say they’re not selling anything so this doesn’t apply to them, think about that for a minute..you are soliciting by knocking on their door as you are offering a service. This is my opinion, please check with your Broker before you hit the pavement.

What if you don’t have any listings? This applies to new real estate agents as well as some seasoned ones who have been off the radar for a while. See, for a farming to produce, you have to water the seeds...consistently. I found twice a month to be successful, test it and see what would work. If you don’t have any listings, you can simply let the neighborhood know what’s selling in the area, very similar to market reports you see on ActiveRain but a shorter version. Don’t use addresses, just a simple card with Number of Solds, Number of Active Listings, average sale price and always have a call to action. You can not do this once and expect results, you must do it consistently, at least once a month.
When I was a brand new agent with no listings back in 2002, it seemed like every subdivision in then very small City of Clermont were taken by the veteran agents in the office. There was a neighborhood map by the copy machine with all the taken areas. I decided to go west, two cities over and decided to farm in a subdivision called Courtney Park in Mascotte FL. The postcards I mailed out were so cheesy, every time I think about it, I want to hide under my desk. I purchased very bright, colorful postcard paper from OfficeDepot, the front had a picture of a random home with a message that read “Thinking About Selling?” and my contact information, on the back listed number of homes sold the previous month and what was active. I printed them in the office myself, hand-wrote the addresses and mailed them out. I received two listings in the first week they went out and six in total within the first 30 days. Then, a bank contacted me to list two REO homes, an investor contacted me who purchased one of them and he is still my client.
Two weeks after the postcards went out, I mailed a newsletter which was horrible when I look back but in it, I wrote a quiz and offered a $10.00 gift certificate to the first two winners who called or emailed me with an answer. The response rate was over the top! Then, I put together “Back-to-School” bags together with some pens, pencils, paper, erasers and send out a postcard with a specific time and day when I will be at the entrance to the subdivision to give out fifty bags. Well, by month two, I listed nine homes on one street alone. This was a very productive farm for me!
What I did was to consistently send out something to the neighborhood, yes, they were beyond horrible but it worked!

Think of some creative ways to become “famous” in a certain subdivision. How can you establish that relationship with the homeowners? Write them down and make a plan. Your plan should include two touches a month to stay on top of mind.

Is this hard work? NO! Is it work? ABSOLUTELY! Will it cost you money? Yes, however, it won’t cost you as much as not having any business or paying a company with the hopes of receiving leads that are sold to hundred other agents.

Aside from direct mail, be active on Social Media. Remember the 80/20 rule. 20% business and 80% of other types of posts.
If you have not become a Rainmaker with ActiveRain, do yourself a favor and change your status from “Rainer” to “Rainmaker”. WHY? Don’t you want your posts to be seen by the public? You know by know what it takes to write a post and we as Rainers may comment but guess what, it is very unlikely you will receive a call from another REALTOR® to list with you.
I boosted a post on FB on Friday which I had written a post on ActiveRain on Thursday, also have a video, that post reached 2481 people, liked by nine and shared by three. When I checked to see where most were coming from, 69% came from ActiveRain..WOW! That is beyond AWESOME.

Whether you are a new agent or a veteran one who’s been in the funk, today is the day it is going to change. Believe it! Plan Your Work..Work Your Plan!

How Do You Start Real Estate Farming if You Do NOT Have Any Listings?



 

 

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Beth Atalay, Broker/Owner

Cam Realty and Property Management

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Rainmaker
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Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Thanks for the excellent re-blog! Wow! These are stunningly fantastic ideas. Note to self: Start implementing immediately!

Jul 12, 2017 04:10 AM #1
Rainmaker
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Ricardo Mello
Manhattan Miami Real Estate - Manhattan, NY
Manhattan & Miami Real Estate Broker

Great ideas, thanks for sharing FRANK RUBI

May 21, 2018 08:30 AM #2
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