Who has Farming Secrets?

[Account Closed]

Hey Biggerpockets,

I am tired of reading blog after blog about generic farming. Who has some real tricks of the trade? Do you use scripts? What do your ads say? How do you pick your target and why focus on one? If you get a call what to say to win them over? Any advice on farming is grealty appreciated!

[Dale Osborn]

Raymond - I had a few notes on different farming types:

Central Farm
Cold Calls
Direct Mail
Expired Listings
Flyers
FSBO
Geographical Farm
Postcards
Renters
Self Pronotion
Sphere of Influence

Here is what I had for a Geographic Farm:

A. Geographic Farm: Specific area by 5's or 20's. Takes 1-12 yrs to set up.
1. Reasons for Farming:
a. Obtain Listings = merchandise on the shelf.
b. Get Referrals to potential Buyers/Sellers of homes.
c. Creates a client base.
d. Stabilizes/Increases income.
e. You are the recognized expert in neighborhood.
f. Control market/area.
2. Sketch boundaries of Geographical Farm: Specific area of town.
3. Choose the right area.
4. Get your farm notebook set up: Info sheet for each home.
5. Obtain owner's names.
6. Set up a visual control board in office.
7. Use letters of introduction.
8. Knock on the door:
9. Set up a market survey.
0. Put the market survey to work.
a. Do you feel that area is improving?
b. How long have you lived in the area?
c. Do you feel shopping areas in this area are adequate for your needs?
d. Where do you do most of your grocery shopping?
e. How many are in your family?
f. Do you folks commute to work alone, or do both use car pools?
g. Where are you and your husband/wife employed?
h. Does school system provide the education you want your kids to have?
i. Do you have a full-time real estate agent serving your needs?
11. Make your first sweep in 60 days or less.
12. Drive your farm area at least once every other day.
13. Hand out a small gift on your second visit.
14. Identify nicest 10% of your farm.
15. Meet everyone in your farm once every 2 months for 1 year.
16. Organize a specialized program.
17. Look for 2 special types your 4th time through.
a. Local snoops: Keeps you informed.
b. Nasty people: Eliminate from farm book.
18. Ask for the business.
19. Present everybody with a nicest family in the state gift.
20. Farm Size = Number of homes. Best not to exceed 500:
a. Visit 25/day 5 days a week = 500/month.
b. Mail to first 25 then each day do next 25 till done.
c. Drive area every other day.
d. Keep your ownership sheets up to date.
e. Follow-up.
f. If on 3rd visit someone is nasty - rip that page out of your book.
g. Do card a month.
21. Number of signs currently in Farm area.
22. Conforming neighborhood.
23. Main Streets.
24. School District.
25. House Numbering Map from the County Engineers Office. (Nominal Cost).

B. Working Your Farm: Contacts = Contracts.
1. People Farm is better than Geographical Farm.
2. Direct Mail: Do an introductory letter.
3. Door Knock farm area: Everything you want is behind a door.
a. Walk enthusiastically.
b. Never ring doorbell - Knock enthusiastically.
c. Back up 4-5 steps - Look up the street - Whistle.
d. Let other person acknowledge you first.
e. Turn - Make eye contact - Smile.
f. Introduce yourself.
g. Ask their name - Use it immediately.
h. Do rehearsed speech.
i. After asking a closing question - Shut your mouth.
4. Telephone Call: Follow-up introductory letter with a personal call.
a. If no call, then you wasted a stamp above.
b. Have items written down to limit time spent on phone.
c. Warm call: "Do you have a moment?".
d. Best time to call: 8-9AM or 4-5PM to avoid phone tag.
e. Know if call is Buyer/Seller and use proper script.
f. Never promise something you can't deliver.
5. Door hanger with your picture on it.

C. What to do:
1. Get acquainted: Introduce yourself. (3 months).
2. Breakdown the no response. Takes 5 no's to make a sale.
3. Have a small gift/favor to pass out.
4. Make your presentation.
5. Build a Farm File: Information about homeowners in farm area.
a. Deed Details Folder.
b. Farm Flashcards: Learn the names of all in farm.
c. Property Catalog: House info, improvements, amenities & grounds.
6. Ask for business.
7. Build trust: 3-4 times contact to build trust. (6 months).
8. Become the neighborhood Real Estate Specialist. (12 months).
9. Harvest your farm. (18-24 months).

D. A computer farming system:
1. Laptop computer.
2. Farm record software.
3. Customer management software.
4. Competitive market software.
5. Graphics software.
6. Word Processing Software.
7. Owner information software.
8. Letterhead, envelopes, labels, postcards, index cards, etc.
9. Modem to MLS or data banks.
0. The right attitude.

E. Circle Prospecting: Do a circle around the following:
1. New Listing.
2. House Sold.
3. Listing Sold.
4. Open House.
5. Contact Home Owners in person only.
6. Visit same home owner 3 times within a short period.
7. Introduce yourself.
8. Explain why there.
9. Include a Benefit.
0. Ask for a lead.

F. Farming: Plant seeds to harvest at a later date.
1. Know your marketplace.
a. Identify your target market.
b. Determine why customers buy.
c. Know your target market in-depth.
2. Be brief and to the point.
a. Keep calls brief and to the point.
b. Know how much your time is worth.
c. Time is more important than money. How time used = more $.
3. Run the numbers.
a. Determine your conversion rates = motivation for next sale.
b. More calls made=closer to next sale.
c. 80% of sales come after 5 or more calls to same customer.
d. 48% of all salespeople make only 1 call per customer.
e. 25% quit after the 2nd call.
f. 10% of all salespeople keep calling until sale or solid ANO@.
4. Overcome fears.
a. Personal development.
b. Be aware of your fears.
c. Change your outlook.
5. First impression made during prospecting.
a. Leave a clear positive impression.
b. Ask for feedback on impressions you leave with people.
6. Get Organized and use Time properly.
a. Organization.
b. Time Management.
c. Use contact management software.
d. Set daily, weekly and monthly farming goals.
e. Ask for referrals.
7. Rejection.
a. Deal with it.
b. Find ways to overcome it.
c. Make another prospecting call.
8. Prepare a prospecting script.
a. Must have a clear purpose or reason for calling.
b. Avoid weak openers.
c. Be confident that your message is important.
9. Farm/Prospect: Find potential customers/clients by identifying & calling on best target markets, consistently and frequently.

G. Specialty Market Niche:
1. Older neighborhoods.
2. Network with other Brokers.
3. Service committment.
4. Make customer feel comfortable.
5. Referrals, Referals, Referals.
6. Relo Owners/Companies.
7. Luxury Homes.
8. Upscale middle income housing.

H. Geograpnic Zone:
1. City maps and plans.
2. Aerial map or photos of comfort zone.
3. Bus and other public transportation routes.
4. Schools and school zones.
5. Hospitals.
6. Parks shown.
7. Shopping centers marked.
8. Other specific areas of public benefit.
9. Bad sectors shown:
a. City dump.
b. Heavy Industrial.
c. Other areas to avoid.

Hope this will help you on your pathway to success.