As the saying goes, “You reap what you sow.” This is very true in the real estate industry. As there continues to be lower levels of inventory, farming is becoming an essential part of an agent’s marketing plan to gain leads in a competitive market.
What is a FARM?
FARM stands for Focus Area Research Marketing. It is a way to segment a specific area in which you grow your business, your reputation and your connection to a specific farm.
Geographic farms
Most frequently requested farms are geographic farms where you solicit a specific neighborhood for business. As a real estate agent, you want to establish yourself as an expert in your farmed area and develop relationships with the residents of that specific area.
How to identify a FARM
If you are a new agent, you may want to start with the neighborhood that you currently live in as a start since you are familiar with the surroundings. There are many other things you should consider when picking an area to farm, such as: Turnover rate of the community, length of residence, competition, current trends, renters vs. owners, demographics, etc.
Article Source; https://www.ltgc.com/resources/real-estate-farming/
