Top 10 Secrets of Geographic Farmers

As agents, we’re all farmers—geographic farmers. We cultivate blocks littered with single-family homes, and harvest condos by the dozen.  But not all of us are enjoying bountiful yields. Some of us struggle and some of us surge—which kind of geographic farmer are you? In this podcast, Sharran introduces the 10 Things Every Geographic Farmer Should Know, the perfect list if you’re looking to go from famine to feast in the coming year.

3 Key Points

  1. Everything starts with a self-declaration—if you don’t declare who you are, nothing else matters.
  2. Sometimes the simplest things are the most powerful—knowing little known fun facts about your farm makes you instantly memorable to the client.
  3. Obsession is the key to success.

Show Notes

  • 01:28 – #1: Declaring who you are…declaring that you ARE a geographic farmer
    • 01:41 – If you don’t declare that you are an Area Specialist, you can’t do anything else
    • 02:00 – The rest of the world can declare you an expert, but only YOU can declare yourself a specialist
    • 02:18 – Life isn’t about finding yourself, it’s about creating yourself
    • 02:45 – When you declare yourself, everything flows from that
  • 02:52 — #2: You’ve got to know the total addressable market
    • 03:00 – This is the number of homes in the market
  • 04:15 — #3: Average sales price
    • 04:20 – This is more than knowing the average sales price in the neighborhood
    • 04:50 – The snapshot of the sales price means nothing without wrapping it up in the trend of the market
    • 05:20 – The average sales price is a FIXED number, not a range
    • 05:45 – Be intentional and specific with your numbers
  • 06:00 — #4: Velocity (turnover)
    • 06:30 – Understanding the velocity of your farm is extremely important
    • 08:31 – Sharran defines how you would convey velocity to a consumer
  • 10:00 — #5: What’s Your Competition?
    • 10:08 – You need to know the agents and market share numbers
    • 10:49 – See what your competition is doing and do it better
  • 12:29 — #6: Absentee Owners
    • 12:41 – The average absentee owner has no idea about your dominance in the geographic farm
    • 13:04 – They don’t see the activity and the energy you bring to that farm
    • 13:22 – Take your absentee owners off the list or target them differently
  • 14:30 — #7: Product Mix
    • 14:50 – What are the things you tend to transact?
    • 15:30 – If there are 471 units in your area, and 400 are single family homes, and 71 are condos, breakdown the differences in appreciation, etc.
  • 16:26 — #8: Average Days on Market
    • 16:42 – Most clients don’t know what “Days on Market” means
    • 17:05 – This is your opportunity to explain what it is to the client, and that it doesn’t mean anything
    • 18:03 – Days on Market is your way to pivot into ANY conversation
    • 19:00 – Days on Market is Sharran’s favorite stat
  • 19:25 — #9: The first runner-up
    • 19:38 – Which farm is very similar to the farm you specialize in?
    • 20:00 – They’re probably looking somewhere else—but if they’re not, you can say “they most similar farm to X is…”
    • 20:23 – The ability to compare and contrast is the way to demonstrate your value and speciality
  • 22:18 — #10: What’s the fun-fact that makes your farm unique?
    • 22:37 – Why is your farm WORTH remembering?
      • 22:58 – it doesn’t matter what it is, it all demonstrates your knowledge and expertise
    • 24:20 — #11: The only way to have tremendous success as a geographic farmer?—OBSESS
      • 24:45 – Everything you do, you do in your farm—coffee, laundry, walks, etc.
      • 25:23 – Obsession leads to opportunity
    • 26:00 – Question: How do we engage with absentee owners?
      • 26:30 – Personal Touch
      • 26:50 – Mass MAIL
      • 27:20 – Shoot them a newsletter or piece of content (ideally repurposed)
      • 27:44 – Find a way to engage with absentee owners
    • 28:28 – Question: How does one have a geographic relationship with their farm?
      • 26:54 – Humanize your farm
      • 30:00 – Invest in your farm and it will invest back in you

 

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>>> BONUS: Limited Fast Action Downloads!

  1. [PDF] The Kingston Lane Buyer Consultation Process
  2. [PDF] The Kingston Lane Seller/Listing Process
  3. [Private Podcast] The Listing Pre-Launch Blueprint Podcast – How to Create Competition Before Your Listing Hits the Market
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