Geo farming is an effective marketing strategy to market real estate listings. Unlike traditional advertising, geo-farming requires no initial investment. Instead, you can build a list of prospects and a brand and get exposure to the top properties in your market. You can then use your list to promote your listings and gain mind share and authority.
Building a brand for geo farming
If you’re a geo farmer in real estate, you should start by building your brand and your reputation in your local area. While you can’t rely on a postcard to get referrals, you can still create an impression with videos and Instagram Reels. If you’re new to geo farming, consider doing so for a few months at a time to get a feel for the process.
Geo farming by Vulcan7 involves choosing a particular neighborhood and successfully farming that area. This can be done by phone, direct mail, or any other form of outreach. Geo farming can dramatically change your real estate business if done well. The key to success is choosing a neighborhood you feel passionately about and consistently connecting with people in your target area. Your geo farmers are the potential clients for your business, and you must be aware of how to cultivate your relationship with these people.
One of the best ways to develop your geo-farming brand is to target neighborhoods in your city or area. This will give you a greater chance of listings from the communities where you focus your efforts. Postcards are inexpensive and unique ways to build your brand in a targeted area.
Building a mailing list for geo farming
Geo farming is the next step to establishing yourself as a real estate expert. There are many ways to achieve this, but these effectively demonstrate expertise and win listing presentations. Postcard mailings are inexpensive, unique, and make great marketing tools.
Build a mailing list of potential home buyers. It is human nature to know when a neighbor’s home goes on the market. By building a mailing list of prospective homebuyers, you can increase your exposure. People will want to know when your neighbor’s home goes on the market, and you can provide them with this service for free. In addition to building a list of potential homebuyers, this method will also make you look good. People will be reminded of your name repeatedly, and they will get value from you.
You can also use direct mail and neighborhood newsletters to build a mailing list. Open houses are an excellent way to make a reputation, meet new people, and drive traffic to your listings. Another great idea is to offer a free CMA for homes in your geo farming campaign. This can be done door-to-door, direct mail, or by mail. Regardless of the method, you should research to understand the values of your neighborhood and comps for your target market.
Calculating ROI of geo farming
When marketing in real estate, determining the ROI of geo farming takes time and effort, you must be consistent and have a long-term vision to get the most out of your actions. If you’re not committed to making the most of geo farming, you’ll waste your time and money. Instead, consider using a combination of marketing strategies to optimize your marketing dollars and time.
First, determine the number of homes you can sell in the chosen area. Your target area should be between 500 and 2,500 homes, and you should start with a small number to test the waters. After that, you can expand as your business grows. Then, plan marketing activities, including direct mail campaigns, holiday door knock gifts, and community events, based on your ROI. Planning your actions gives you confidence that you know when and how much you can afford to spend on them.
Once you know how to calculate ROI, you can start geo farming. Essentially, geo farming is marketing to a specific demographic. This may include first-time buyers, investors, downsizing sellers, or golfers. You can even target a particular price range, such as million-dollar homes. First, you must comply with fair housing laws to avoid discrimination, as with any marketing strategy. Moreover, you should avoid targeting people discriminated against based on race or gender. Instead, you should focus on targeting the correct type of buyers and neighborhoods based on your expertise.