The Importance Of A Strong Real Estate Network in Geographic Farming
Real estate agents often talk about the importance of networking in their profession, and for good reason. Establishing connections and building relationships with people in your industry can open up a world of opportunities and help grow your business. One area where networking is especially crucial is in geographic farming, which involves targeting a specific area or neighbourhood for your real estate business. In this article, we will discuss why networking is so essential to success in geographic farming, and offer tips on how to build your real estate network.
What is Geographic Farming?
Geographic farming is a marketing strategy where a real estate agent focuses their efforts on a particular neighbourhood or area. The goal is to establish themselves as the go-to agent for that particular area, by marketing themselves and their services to the residents of the community. By focusing their marketing efforts on a specific area, agents can build name recognition and credibility, which can lead to more listings and sales in that area.
Why is Your Real Estate Networking Important in Geographic Farming?
When it comes to geographic farming, networking is a crucial part of creating a successful plan. If you’ve been following us for any length of time, you know that we talk about C.P.R. (Community, Positioning & Relationships) And the ultimate goal for any “farmer” is to strengthen existing relationships and build new ones.
The more connections, or relationships, you have in a particular area, the more likely you are to be successful in that area. Networking can help you establish relationships with other professionals in your area. You can focus on real estate related businesses such as mortgage brokers and home inspectors, who can refer clients to you. But it’s also super important to focus on businesses that aren’t directly tied to our industry. Networking can also help you build relationships with potential clients, such as homeowners who may be looking to sell their homes in the future.
Networking can also help you stay up-to-date on what’s happening in your target area. By attending local events and staying active in the community, you can gain a better understanding of the neighbourhood and its residents.This helps you with the “Positioning” part of the C.P.R. by becoming more of an expert in the community. This knowledge can be invaluable when it comes to marketing your services and connecting with potential clients.
Tips for Building Your Real Estate Network
Here are some helpful tips for building your real estate network in your geo farm:
Attend Local Events
Attending local events, such as community fairs, festivals, arts and craft shows or anything that brings your community together, can be a great way to meet new people and establish connections. Make sure to bring business cards with you and introduce yourself to other attendees. One of our favourite things is to ensure you have branded clothing, but make sure it’s subtle and not over the top. You should also try to strike up conversations with people in your farm to find out more about them and their interests and needs. You never know who might be in the market for a new home or looking to sell their current one. And you can also create connections you didn’t even think about.
Join a Real Estate Organization/Group
While this may not be networking directly in your farm, by joining local real estate organisations and groups, you can connect with others in our industry and help establish yourself as a credible contact for your area. These organisations often host networking events and seminars, which can help you make connections while also learning more about how to be a better agent overall.These types of relationships can be invaluable when you learn to network with out of town professionals..
Use Social Media
I’m sure by now you’ve realised the power of social media. It can be an extremely powerful tool for networking in real estate. Make sure to have a strong presence on platforms like Facebook and Instagram, and post regularly about your services and your target area. But if you want to get the best return on your time, we’ve found that agents who use social media to focus on adding value OUTSIDE of real estate to their community on social media, are the agents who develop the strongest network. Let’s be honest, most people aren’t thinking about real estate 24/7, unless you are an agent like us, so if all you use social media for is to talk about real estate, you won’t connect with the community at a high level. You can also use social media to connect with other professionals in your industry, like we mentioned in the last suggestion, but done virtually online., And connecting one to one on social media with your clients can further strengthen your relationships and referrals.
Volunteer in the Community
Volunteering in your community can be a great way to give back and meet new people at the same time. At Launch Your Farm, our suggestion is to look for local organisations that align with your values and interests, and get involved. This way you are going to ensure you enjoy doing it and can get behind a cause that means something to you, and has an impact in the community as well. This can be a great way to establish yourself as a trusted member of the community and build relationships with potential clients. This ties into the “Positioning” category by establishing yourself as an ambassador for the community.
How to Maintain and Strengthen Your Network
Building a real estate network is just the first step. As we mentioned at the beginning, it’s crucial you think past just businesses and people directly servicing the real estate industry and connect with others in your community. Also, it’s important to maintain and strengthen those connections over time. Here are some tips for doing so:
- Follow up regularly: Don’t just meet someone once and then forget about them. This is a mistake most agents make. You need to ensure you follow up with your relationships regularly, whether it’s through email, phone, or social media, in person or any other form of communication you put in place.
- Provide value: This is an absolute MUST if you plan on maintaining market share or even becoming a household agent. It’s important you are always looking to offer your contacts something of value, such as market updates or helpful tips for homebuyers and sellers. But you also want to provide value outside of the real estate space as well. This will keep you top of mind and help establish you as a knowledgeable and helpful resource inside and out of the real estate space.
- Attend networking events: Don’t just go to one event and call it quits. Keep attending local events and real estate organisation meetings, even after you’ve established some connections. The consistency and continual contact will help you continue to expand your network and meet new people while staying top of mine.
- Ask for referrals: Don’t be afraid to ask your contacts for referrals. If you build relationships that are genuine and based on adding value, you should have no problems asking for referrals. If you build your farm from a strictly transactional system, then you’ll struggle getting consistent referrals. When you come from contribution, add value and focus on relationships, if they know someone who’s in the market to buy or sell a home, they will drastically be more likely to refer them to you.
- Show gratitude: When someone does refer a client to you or provides some other kind of help or support, make sure to express your gratitude. A simple thank you note or phone call can go a long way in maintaining strong relationships.
Conclusion
In conclusion, networking is essential to your success in your geographic farm. When you focus on the C.P.R. in your business, you will find more opportunities to grow. By building connections and relationships with other businesses, your community and other professionals, you can establish yourself as a trusted and knowledgeable agent of choice in your community. Attending local events, joining real estate organisations, using social media, and volunteering in the community are all effective ways to build and maintain your real estate network.
FAQs
- What is geographic farming?
Geographic farming is a marketing strategy where a real estate agent focuses their efforts on a particular neighbourhood or area to establish themselves as the go-to agent for that particular area.
- Why is networking important in geographic farming?
Networking is important in geographic farming because it helps you establish connections in the community and build relationships with other professionals in the industry, as well as potential clients in your target area.
- How can I build my real estate network?
You can build your real estate network by attending local events, joining real estate organisations, using social media, and volunteering in the community.
- How can I maintain and strengthen my real estate network?
To maintain and strengthen your real estate network, you should follow up regularly, provide value, attend networking events, ask for referrals, and show gratitude.
- What are some benefits of having a strong real estate network?
Some benefits of having a strong real estate network include more referrals, increased credibility, and a better understanding of your target area and its residents.
#LaunchYourFarm #LaunchYourFarmElite #RealEstateNetworking #GeographicFarming #RealEstateMarketing #CommunityInvolvement #LocalEvents #SocialMedia #Volunteering #RealEstateOrganisation #RealEstateReferrals #RelationshipBuilding #AgentPositioning #CommunityEngagement
Happy Farming!
Ryan Smith – Founder/Creator
Launch Your Farm
Be sure to check back on our blog and show to get awesome information about geographic farming!
Blog – http://www.LaunchYourFarm.com/Blog
Show – http://launchyourfarm.com/category/interviews
Recent Comments