As a Realtor®, you have many responsibilities. One of the most important responsibilities is to find prospects and convert them to leads. In the most recent Secrets of Top Selling Agents webinar, Nick Baldwin and Tristan Ahumada shared seven ways for you to do just that in the webinar titled “Farm Like a Boss.”
Baldwin, who holds 20 years of experience in the real estate world, has been an agent for 12 years and is the CEO of Superior Homes Group. Ahumada has been an agent for 15 years in the Los Angeles area. In this webinar, Baldwin and Ahumada shared how you can become the go-to agent in your neighborhood in just seven steps.
Patience is Key
“If you’re not interested in waiting for great business to come your way, then farming is not for you. The wait is worth it.” That is how Baldwin began the webinar. Farming can take time and investment and when you want it done right, you have to be patient. It can take between 3 and 4 months before you will begin to be recognized by your community. You have to make consistent and frequent contact if you want to be remembered. At six to eight months, people will begin to remember who you are and at nine to twelve months, you will finally be on people’s minds when they are ready to sell their home.
Baldwin also mentions that in addition to being consistent and frequent, you should take care not to place yourself in too many places at once, because it could affect your farming efforts. Building your brand in a single location is better than being in many places with a very low exposure. Doing this helps you to be known as the local expert.
Step 1: Select Your Area
Before you begin farming, you need to choose the area you want to work in. It’s important to start small to avoid spreading yourself too thin and to consider the clients you want to target. You can also study the demographic area that you wish to work in to see who lives there and how often they move. Additionally, you should pick an area that fits your lifestyle; if you do not like the area, your chances of wanting to sell homes in that area will be affected.
Step 2: Study the Area
It’s important to know who you’re working with so you can determine when and if the people in your farm will be selling soon. You need to learn which homes are selling, expiring, canceled, or withdrawn. If you become the local expert, you will be the first person that someone will turn to if they have questions. By getting to know the area, you will be readily available to answer any and all questions the second that somebody asks.
Step 3: Know Your Competition
Knowing who you’re up against is one of the most important things you should consider when selecting your farm. By conducting a SWOT Analysis, you will be able to figure out your competition’s Strengths, Weaknesses, Opportunities, and Threats. When you are looking for your competition’s strengths, you are looking to see what they do well. When looking for their weaknesses, you are looking for the strengths that they lack and turning them into opportunities for your business. Finally, you should consider threats or anything that could go wrong with your plan. Be sure that the work you plan to do is scalable and profitable.
Step 4: Create Content That is Valuable
This is your chance to show yourself off to potential clients. You should start by creating a website that showcases what is special about the area that you wish to work in and highlighting your ties to the community. One way to do this is to send out a newsletter, either weekly or monthly, to keep in contact and share any special events happening in your area. Another idea is to create videos about businesses that are led by people who are impactful in the area. Think about the area you want to break into and then content you can give back to the community through video. Finally, you should consider going door-to-door to drop off materials or send out mailers.
Step 5: Engage with Your Farm
Engagement is key to being top-of-mind in any farm. Here are some ways that you can engage: door knock, send mailers, create a social media page or website, generate press releases, and host community events.
Step 6: Leverage Automated Communications
Both Baldwin and Ahumada emphasize the use of automation to save time. You should have automated CTAs for incoming leads so that they are receiving responses immediately, even when you are busy. Try to engage in a different, meaningful way. For instance, instead of just saying that you’re the best agent in the area, send cards about the best parks in the area or what you’ve learned from living in that neighborhood. Again, take this opportunity to show that you are the local expert and create a connection with potential clients. Finally, using drip campaigns can also be a good way to keep in touch with people in your farm and provide them with updates on the market.
Step 7: Evaluate Your Efforts
The last step is to take time to re-evaluate your efforts. Taking time every six months or so could help you determine how well your farming has paid off and if there is anything you should modify to grow your farm. Baldwin and Ahumada suggested asking yourself the following questions:
- How is your farm size?
- Is your branding and content setting you apart from other agents in your area?
- Are you hosting enough events?
- What can you automate to make your life simpler?
After the webinar Baldwin and Ahumada went to Facebook for a live Q&A. You can view the live Q&A session and join the Secrets of Top Selling Agents Facebook page here so you can learn and join in on future live sessions as well.