Farming a neighborhood

[Mark Towey]

What would be your advice in choosing a neighborhood or area to start farming to gain leads? I had read that you should look for a neighborhood where there have been at least 5% of the total homes in that given area sold in the past year. As well as making sure there is not a dominant agent in the area. What other items should I look for or know about the farming process before getting started?

[Bruce Lynn]

While I think neighborhood farming is a good idea, I'd say instead of doing it geographically, think about who is most likely to move in your community.  Farm that instead.  Can you figure out for example who has seniors in high school and do they have any other kids at home.  Lots of people move as soon as the kids are out of the house.  or Divorces or Probates.   Another idea is if you have had big appreciation runup, look at people who bought in 2021.  Their taxes and insurance may have doubled and they can't afford the house any more.

I think geographic is tough because there just isn't typically the turnover any more in most areas.  You end up being on the 10 year plan vs the 1-2 year plan.