Exact Farming Formula That Netted 6 Listings and $135K
There are 1000’s of ways for you to generate business in real estate. Direct mail farming is one that has been proven to be fruitful since the beginning of real estate. Talk to almost any power agent in real estate and they will tell you they do some sort of farming.
In our previous blog article, we discussed our client and how his numbers in his farm skyrocketed through the roof. Today we will discuss the exact things he mailed out and dropped at doors.
The most fundamental aspect is to always map out a plan that makes sense. Do not run yourself dry. Prepare ahead for this type of strategy. Remember, it’s a marathon not a sprint. Those that say it doesn’t work are the sprinters that winded and lost the race early.
The most fundamental aspect is to be prepared to mail or drop something at least once a month. Anything above and beyond that is icing on the cake. Usually in every farm you’ll have 3-4 agents churning up the most activity. Then you have the random agents producing a sale and sending out “just sold” postcard brag pieces. So now we have to counter two aspects: one because direct competition and also because others want recognition to get the ball rolling in that area.
How do we get the most out of the direct mail farming piece? To expand more rapidly and keep it cost effective, our suggestion is to hit your targeted audience with a customized design piece specific to a zip code. Personalized lists and EDDM both work. This enables you to provide stats and updates from a zoomed out perspective to lure seller interest. On the same piece we suggest a piece of content that directly builds value and trust as to why they should work with you. Highlight neighborhood events, add in testimonials, or let sellers know about the network of connections you have to convey the message you are to used as a local resource.
The majority of agents mail out postcards. Why? Most likely because most agents have been told that type of piece by coaches and brokers so many times that it has been engrained in the mind. Being mindful of this and your budget, we suggest at the least sending out a quarterly market watch (Our market watch versions come in a 4 page bifold (11×17 with UV or matte on #110 card stock) or 2 page (8.5×11)) and then 2 contented/evidence of success type postcards or letters interchangeably.
Coming soon, just listed, and just sold cards are the cherry on top so by all means take advantage of this success. You can maximize your results by circle prospecting to introduce the neighbors to the activity.
Pro Tip: A personal invite to a “Neighbors Only” open house has the tendency to go a long way.
In addition to these things, we strongly suggest developing a cohesive brand that flows seamlessly across all means of marketing. From business card to website make an effort to keep it as similar as you can. Brand recognition is the main objective here. Think Coca-Cola and how their brand resonates.