“There are two things that every agent should master—the database and something listing-specific in strategy that you can do in high volume,” says Steve Schlueter, BOLD Coach, MAPS Coach and OP for the Round Rock, Texas, market center.
One strategy that fits the second bill is farming. During Family Reunion, Schlueter, along with agents Michael Perna, Cindy Baglietto and Allison Van Wig, shared their tried-and-true door-knocking tips and other techniques that have helped them reap huge rewards from their geographic farms.
First, find the best area for your farm. “I’m always looking for a 7-percent turnover rate in a neighborhood,” Detroit-based Perna says. “Five percent is the bare minimum. If an agent has 30-percent market share, I skip over that neighborhood because I don’t want to go to war and triple-spend to build my brand.”
For Baglietto, picking her own neighborhood in Frisco, Texas, proved to be the most fertile ground. She started by direct-mailing to all her neighborhood’s houses, having open houses every weekend and calling around for listings. After a year, she had spent very little money but had 50-percent market share in her neighborhood. “Get a sign rider for your sign that says you’re that neighborhood’s specialist,” she says. “If you host community events, you’re allowed to put an ad for free in the community newsletter.”
Ideas for community events that these agents have sponsored include:
-Easter egg hunts
-Visits with Santa
-Calendars listing local junior high and high school sports events
-Partnerships with the PTA
-Ice cream trucks in summer
Van Wig, who specializes in the Long Beach, Calif., neighborhood of Lakewood, suggests investing your money locally through geographically targeted Facebook and Google ads. “I started doing reverse open houses,” Van Wig says. “After I sell a house, I pass out postcards that say, ‘Come see what this house sold for. Get cookies and a market analysis on your house for free.’”
Are you interested in learning more? Visit KWU’s Family Reunion Encore Series.