Whether you are just starting out in real estate or are a seasoned veteran, it may help to advance your career by “farming”. Farming is a term used to describe a specified area, community or subdivision that an agent will specialize in. This area can be determined by an active or popular area or simply with geographic boundaries.
When choosing an area to target, make the location somewhat convenient. You will be spending an extensive amount of time becoming familiar with the neighborhood. Why drive an hour from your home or office to accomplish this goal? Keep it simple.
The size of your target area will be based largely on your resources. If you have an assistant or a partner, you may choose an area of 3000 homes. If you are just beginning your career in real estate and have limited funds available, a smaller area of 800 to 1000 homes is a good start. Remember, you can always expand as you customize your efforts.
Once you have narrowed down a neighborhood or community, begin previewing available homes for sale. This will allow you to become familiar with the floor plans and various amenities offered by the builder. Previewing may be scheduled and completed in a day or two.
Your knowledge of the nearby schools should be extensive. As the area expert, you should know the name of the schools, their location relative to the neighborhood, local standardized testing results, and school district bus routes the children take. This information is very important to a buyer and even more important to a seller when they interview you to sell their home.
Knowledge of local amenities such as shopping, parks, and community centers also will help in creating the neighborhood specialist title. Home sellers want to know that their real estate agent has a clear understanding of the surroundings. This information can be obtained easily by driving the area.
After performing the above mentioned research, begin analyzing the comparable sales. Find out what the homes originally sold for and how much appreciation the neighborhood has had since its inception. Chances are you will find original owners who know these statistics, so you should be prepared as well.
Farming a neighborhood or community may have wonderful benefits. A real estate agent who can establish a presence in an area will find clients calling them. Then with enough signs in the same neighborhood, buyers will be calling them also.
by Jeffrey Austin. Exclusive representation to buyers and sellers is a complex venture. Real Estate Homes, LLC philosophy has accomplished this with great success. For more information on a dynamic company offering advanced technology training or Phoenix Homes for Sale or Tucson Homes for Sale, please visit Real Estate Homes, LLC where you can search for all available homes for sale.
{ 1 comment }
Comparable sales for real estate is so important in today’s rather unstable market. The Las Vegas high rise condo market has seen comparables including many different price ranges. Clients and prospective clients can benefit greatly by good, all-inclusive comparables.