What worked in the past
Did you know only 10 years ago which we now consider “the old days” of real estate we actually converted people over the phone? People would call in on a newspaper ad or a direct mail postcard sent to their homes.
All our deals were secured either in person or on the phone. That was the norm. Today, I hear many real estate coaches say that, the old ways are dead and online marketing is the ONLY way to go!
Ways of doing business and converting a lead may have changed a bit, but there is no reason to toss is aside. Thinking that everything has to be all brand new. In this case there is still a lot of validity in keeping what is good about marketing used in the past and then finding ways to make it more up to date in today’s market.
Direct Mail Marketing
For my entire career of 26 years we have used direct mail marketing pieces in the form of post cards sent out to certain neighborhoods which we called geographical farms.
We have included our COI of past clients and new leads in our post card campaigns. It was and still is a very effective way to get your name in front of a lot of people every month and stay top of mind with these people. I’ve made a lot of money off my direct mail post card campaigns over the years. I typically receive 5-6 immediate phone calls or emails from interested Sellers wanting my free CMA once they received my mailings.
These contacts turn into listings on the average of 90% of the time. I’ve consistently mailed to these same neighborhoods month after month and year after year and it is interesting to note that many residents kept the cards so they would be prepared to reach out to me once they were ready to sell in the future. They got to know me through my post cards.
Many say the old ways have died out completely, but I do not agree. I still believe a good mix of different forms of contacts and advertising will continue to be a very effective way to stay in touch with clients and leads in the future.
Different groups of people have different ways of communicating
Remember we still have people of all ages living in this country that want to buy and sell homes. Different groups of people have different ways of communicating with others and so being versatile in your advertising and contact efforts is very important to hit all different age groups and demographics.
I now do direct mail post cards on a quarterly basis instead of once a month with great success. The reason for quarterly mailings compared to once a month is because we have so many other online marketing that we use to enhance our contact efforts. We feel that with direct mail on a quarterly basis is sufficient to stay in front of people.
Be The Neighborhood Expert
Fast forward and what works today!
So let’s talk about how to use a geographical farming today to share effective and powerful information and increase your bottom line.
First establish what area/neighborhood or community you want to be known as the expert in. You will need to do some research using your MLS, as you want to be marketing to neighborhoods where there is constant activity throughout the year. You may also want to choose a direct mail campaign for the neighborhood you live in, in the beginning. Especially if you are already connected with some of the residents there.
How To Pick A Farm ARea in REal Estate?
Using MLS as your source for information, start searching different neighborhoods in your area that you think you would like to target and work in. Start by pulling active, pendings, show for back up, expireds and solds listings to give you a very accurate picture of what the activity is in the neighborhood.
If there are lots of active listings compared to the number of sold listings, you probably have a neighborhood that is not moving very well. Another way to tell, is if there are lots of expired listings that never sold or very long days on market. This is an indicator that homes are coming on the market and not selling.
You need to look at the activity over the past 5 years of each neighborhood to get the most accurate picture of this neighborhoods activity. Sometimes neighborhoods will have a flurry of activity for one year and then hardly anything the next 4 years.
This tells you that most people have moved and it might be another 5 years before a big flurry of activity happens again. All this research will be worth the time you spend. It will determine if this is a neighborhood you want to invest in. Direct mail marketing is not the cheapest route to lead generate in the beginning but if you get a stronghold there it will be very lucrative.
Get IN FRONT of people
If you choose to take it a bit further and you can get a hold of a resident handbook with addresses, phone numbers and emails. You can also include emails campaigns using video to the residents.
Facebook neighborhood pages will be another way for you to offer assistance to the residents to provide them information about their market. Sometimes a Facebook group will be closed to outsiders and so this is a great opportunity for you if you live in the neighborhood.
There are lots of different direct mail and marketing campaigns you can create to get to know the people in the neighborhood and better yet, a way for them to get to know you!
You can walk the neighborhood on a beautiful Saturday to drop of door hangers with information about the market, pumpkins at Halloween and American flags on the 4th of July.
Offer to sponsor a picnic, pool party or swim meet to get invited and meet more residents!
What type of information should I send out?
Many people today are information hungry. They want to know the following:
- About their property values and whether home values are declining or rising.
- What other homes are selling for in their neighborhoods.
- Info on interest rates and loan programs, as well as the best ways to update a home to get the most money possible.
The ideas are endless but it must be relevant to today’s trends and seller’s needs. Your post cards can be funny and entertaining with your personality infused in using catchy tag lines. They can also be serious at times, but use a tasteful variety of different, creative and relevant subjects you want to convey.
Please, DO NOT send recipe cards.
You will be known as a great cook, but not a successful Realtor!
Always include your contact information, phone, email, web address and all the required company information on each piece. Include links to videos or an invite to visit your You tube channel.
Real Estate Farming Results
Be dedicated to your “farm” once you have meticulously chosen it. Think about the fact that if 25 home sales transacted in 1 year in your farm and half those people bought another home. That would be 37 deals for you. Most likely more, since they now love and trust you. Thereby referring you to others outside of the neighborhood.
You are the only one that can change your life!
So take responsibility and take your business to the next level.
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