Prospecting and Farming

Jan 19, 2023

Real estate marketing is a long-term process. When you begin, know that it will take time to get desired results. Think of how the farmer works. The ground is selected and prepared. Then, seeds are planted, watered, and cared for. In time, the seeds will grow into plants. Similarly, the awareness within you is set to grow. The pipeline is filled with new customers for you to work with and take your business to new heights. Remain persistent and give it the time it needs to

develop and grow. Here are some ideas to help you put this together on your own.


Selecting your market and area

  •   Choose an area that is close to where you live
  •   Choose an area that fits your image and who you are
  •   Choose an area that has the potential of allowing you to achieve your goal
  •   Choose an area you are comfortable with and find enjoyable


Creating a marketing campaign

  •   Research, acknowledge, and analyze what your competition is doing
  •   Identify resources you can use to advertise
  •   Create and tailor your image to fit any given campaign


Launching your campaign

  •   Saturate your area with advertising pieces
  •   Consistently attend all selected functions
  •   Grab every opportunity to demonstrate your services
  •   Be seen regularly
  •   Develop contacts personally on a weekly basis
  •   Stay focused, driven, and persistent
  •   Ask for referrals


Farming your area

  •   Be up-to-date with all the information about your market
  •   Be-all and end-all (always act so)
  •   Take ownership of your market (invest time and effort)
  •   Maintain relationships with your centers of influence (COI)
  •   Give back to your market (sponsorships and community events)

When selecting your market or farm area, you may use some techniques to identify the most productive areas. This is how it works.

  •   Get into your MLS and carry out a search for a city, subdivision, complex, or area.
  •   Choose the one you find most attractive, and importantly, one that is very close to where you live.
  •   Set the search criteria for closed sales in the last 365 days.
  •   Determine the total number of property sales, and calculate the total sales volume by adding all the sold prices.
  •   Divide the total number of sold properties by 12 months.


This process gives you an indication of the number of properties to be potentially sold

each month, and what you may go after in your market share. Consider this – if there are only a few sold properties, you don’t have much going for you. A good number to use as your market share, in the beginning, is seven percent. Therefore, if an area sells an average of 30 properties per month, your market share would stand at 2.1 properties. What this basically means is that you may achieve two sales per month. Use the same method to plan and target your income. If the average monthly closed sales account for $400,000 per property, you multiply this by your two sales, and you get to around $800,000 in closed sales each month. Multiply your sales volume of $800,000 with average commissions. At three percent, you arrive at $24,000 as a gross commission for the month. Then, there’s your specific split. Planning is the key to your success and growth. With strategic planning, you get to make the most of your efforts and your bank account.

For more in-depth information about devising a marketing plan that works well for you, go to WATCH MORE HERE and get the answers you seek.


The Pusher. I Am the World’s Greatest Planner