My First calendar year as a "Land Specialist" RE Agent

[Neil Hauger]

About a year and a half ago I decided to get my RE license, so I went on line, paid  and started to study.  But, life got in the way and I almost did not complete it.  There was a deadline to completion and I was lazy, had other plans developing etc.  Excuses.  Then I was offered a position with Whitetail Properties a land broker out of Central Illinois.  I had been a fan of Whitetail Properties for some time as they have a TV show on the Sportsman's Channel called "Whitetail Properties TV" and a great website at www.whitetailproperties.com.  But more than anything, I really was intrigued by the niche they occupied.  Selling Farms, Hunting and Timber land.  I am a avid hunter and outdoorsman and they catered to the same clientele as me.  I also like the fact that not every agent could do this type of sales well as it most definitely requires a different set of skills and knowledge.  Land management, hunting knowledge, eye for topography, timber value estimation, farming practices, trail cameras etc. are just a few of the skills that set a Land Specialist apart from the average RE agent.  I surmised the "riches are in the niches" and I was right. 

I was assigned a region of West Central Wisconsin which also happens to be some of the best hunting land in the nation.  I had 5 counties that I could work exclusively for the broker.  After 8 months of advertising with lead generation cards and posting "Land for Sale" signs I now have about $10,000,000 worth of land under listing contract and I have sold 4 properties.  In fact,  I am now to the point where I am turning away listings or referring them to other agents as I am at capacity and do not wish to take on more at this time.  Financially, I am probably at break even.  I have Grossed about 40K in sales to date and have invested into my business about 30K.  Between new computers, gas, (more gas!)  mailers, paper, travel to two meetings at WTP I  will not bank much this year.  I expect the situation to change dramatically in the next two years.  I truly think I can do six figures selling land in year two or three.  Here are a few lessons I learned and what has worked for me.

1.  Hand shake.  Get off the phone and go meet a client.  Nothing beats face to face contact and it really sets me apart.  I have developed a sales presentation pitch that shows the client the depth and breadth of marketing coverage I can provide and I have heard many times  "wow, your not like the average agent we have talked to".  You have to come ready to give your A-game. 

2.  Lots of Pictures on the website-the buyers are male for the most part and very visually motivated.  I frequently have 60-80 pictures on my page at WTP.

3.  Get off the road and walk the land.  Spend a few hours on it and get into every nook and cranny.  Swamp, highland, fields, woods.  Show the owner you are working for him. 

4.  Mailer post cards are the best lead generator-  I send about 2500 mailers to each county monthly by going on the county website and downloading lists of land owners.  I generally target 40ac parcels or larger.  But, I am adjusting that to target large properties in acreage and value just to further develop my brand and control the time input.  Its a niche within the niche.  I seem to spend a lot of time on a property whether it is 40 or 400 but the commissions are vastly different. 

5.  Put up a lot of For Sale signs.  I get a lot of calls from the signs I post on country roads, but I need to be really good at weeding out the tire kickers. 

6.  Pre qual potential buyers before you drive 4 hours round trip to show a property to someone who says "I'm not planning on buying for 2-3 years.  Time is money but this is easier said than done.  I do not hesitate to ask them to produce a letter of pre-qualification or a letter from their banker stating they have the cash assets. 

7. Retain leads and use the MLS system to set up auto notifications for buyers. I enter the criteria they wish and then I let the computer send them potential properties.

8.  Develop and maintain a CRM system.  My goal is to send customers personal email or Christmas cards. Basically, stay in touch with them.  Right now I am using Excel.  Not the best and I am looking for a good CRM system if anyone has a suggestion. 

9. Talk to everyone I know and tell them I am Selling Land, not houses.  I have received many leads and a few listings this way.  My most recent opportunity is in Africa!  I am in contanct with a Professional Hunter seeking to sell a share of a developing hunting  reserve.  Not sure If I can pull that one off but I am exploring the opportunity. 

10.  Social Media.  I have a Facebook page at Neil A. Hauger Land Specialist and I am exploring and using Periscope and Twitter.  Please come follow me.  I really like the "man on the spot" nature of Periscope.  It has not lead to a sale but I hope to use it as a tool to develop my Brand in Western Wisconsin. 

11.  Use Bigger Pockets.  My hope is to use Bigger Pockets as a network building tool.  So, any agents in the Minneapolist/St. Paul/Western Wisconsin market looking to refer business back and forth should contact me.  Many of my clients have houses to sell, estates to liquidate etc.  Lets get in touch. 

My first year is coming to and end and I plan to sit down and develop a business plan for 2016 and beyond and really lay out my marketing efforts and then implement the plan.  I hope you will hit me up and help me grow in this new endeavor.  Perhaps, I can help you diversify your portfolio with some farmland or recreational land.  I am here to help.  Thanks. 

[Neil Hauger]

Update! So I finished my second full year. Sold 33 properties and a total gross sales of 6.2 Million. My W2 put me at about 189,000 for the year. My marketing was around $15,000 of which the first $6000 was reimbursed.

I tell these details so that someone else can get an idea of what is possible. RE has such a low barrier of entry.

I use a tool called OnX Hunt App that tells me property lines and is accurate to about 3m. Helps me find boundaries. I do a lot of social media marketing in Facebook. You can find me there under my name and Land Specialist tacked on.

I started to do selfie interview and FB LIVE posts while walking the land and have developed quite a few followers.

Recently, I started to film with my iPhone while I took clients on a tour. We walk or drive my Gator which I also bought last year. Helps me get around much easier.

The vids are edited using iMovie. Very simple. The clients can then see the post and share it with their network. Spreads the word!

I also got a Drone and a Part 107 license. Flying drones and filming adds a special element to the listing and sets me apart from the competition.

Most often I sell both sides of the deal. After my broker cut I take about $5200 for every $100,000 in sales.

Much less completion in land sales. And a lot of land to sell.

More updates later!