Part II: How To Make Money From The Coming Listing Boom
As the real estate marketing mantra says, ‘Control the listings, and you control your market.’
Yet, with so many real estate professionals sitting on the ‘seller sidelines’ having spent years living off online buyer prospects, an incredible window of opportunity has opened for top listing agents.
In the coming 2014 listing tsunami (see Part 1 in this series) aggressive marketing is the secret to beat your competition to a limited supply of listings. Cold calls. Networking. Chasing leads. Reaching out to past clients. Cultivating referrals. Targeting Expireds. Working your known database will help. But to maximize your listings in the coming market your most important move is to revive a pre-bubble marketing technique: Farming…but with a new twist.
Dominate Your 2014 Market With Hyperlocal GeoFarms
Strip away all the busyness and the key to beating your competition to listings in 2014 is to dominate hyperlocal GeoFarms. How? Here are 6 proven principles.
1. Focus On Turnover Above All Else
Don’t select your hyperlocal GeoFarm just because the houses surround where you live. Instead focus on turnover ratios. Do your homework using MLS sold data. Compare the units sold to the total units in an area. What is the average turnover percentage? You’ll immediately see that some areas have higher turnover than others. Pick those high-turnover areas for your GeoFarm. Bottom line: If you pick 500 homes where 10% move every year, compared to 5% (national average), you’ll double your results – and double your money. Homework pays off big time.