Real Estate Prospecting

Chapter 9Farming

Farming, or as many other fields know it, “canvassing,” is how I got started in real estate. I still love farming; I just wish I did it better sooner. Farming entails interacting with the community in some capacity, whether it be through door knocking, mailings, retargeting, or newsletters. There are many ways to go about doing this, and I want to explore them all with you.

There are some statistics about farming that you should be aware of, and those statistics come from the NAR (National Association of Realtors). To help you understand our strategy and the reasons behind our actions, I'd like to share a few of those stats with you.

Let's start with this one:

Sixty‐nine percent of all sellers moved within the same state. For younger millennials, 81 percent purchased in the same state compared to 63 percent of older baby boomer sellers, according to NAR's 2022 Home Buyers and Sellers Generational Trends Report.

Why is this important? Because it matters in the marketing that you're doing. It matters what you're sending out and how you are communicating with them ahead of time.

Here's another one that is important:

For all sellers, the most commonly cited reason for selling their home was the desire to move closer to friends and family (18 percent), followed by the home being too small (17 percent), and a change in family situation (12 percent). Older generations were more likely to move closer to family/friends, and younger generations were more likely to ...