Smart Farming 101: A New Approach to Real Estate Farming
Utilize Smart Farming to target to 5% of homeowner who are going to sell this year, not the 95% who aren't.
Irrespective of the size of your venture, every real estate agent is constantly searching for a means to stand out to generate more leads, command authority in their chosen niche, and become relevant in the business. This whole struggle is what spawned the idea of real estate farming and smart farming.
Real estate farming refers to a marketing strategy that allows realtors to locate a particular area, cultivate, plant, and nurture their leads. It helps real estate experts to know their prospects better and to feed them with the best information.
Real estate farming makes it easier for you to build relationships with your new and old homeowners. It allows you to appear before your prospects as an expert in your geographical area, which is good for business.
However, depending solely on traditional strategies throughout your career can seem monotonous and less achieving. Or what will you call it when you just run out of ideas to better arm your area in an ever-challenging market. Therefore, as much as you may be an established household name in your geo-location, scaling up your business requires scaling your ideas to meet your goals.
Smart Farming In Real Estate
Smart farming refers to the use of predictive analytical systems for prediction in real estate farming. It is the act of using AI (Artificial Intelligence) machine learning and algorithms to predict which homeowners are mostly to sell their home within the next 12 months.
The use of AI machine learning and algorithms for prediction will make it easier for you to nurture your target customers and understand the turnover rate. For instance, your predictive analytics system would have studied the present and past behaviors of homeowners, and on your part, efficiently focus on the predicted prospects for successful real estate marketing.
Underestimating the power of smart farming may keep you behind in the real estate market because realtors who embrace predictive analytics software will not use random marketing campaigns; they’ll direct their campaigns towards prospects with open houses or sellers who need realtors in their geo-location.
Benefits of Smart Farming in the Real Estate Market
Before you draw up your conclusion on if this is a great idea or not, allow us a few more minutes to explain further...
Help Identify the Best Prospect
After the AI sorts through all of the data from each homeowner, it will provide you with the best prospects to focus your marketing campaigns. This will save you countless hours of creating lists of every person in your neighborhood you need to market to.
It Saves You Time and Money
Marketing your brand to your target audience involves lots of money and time. Access to predictive analytics tools can alleviate these pressures in a multitude of ways. For example, Smart Farming can save you time on prospecting as products such as Offrs provide you with a list of likely to sell homeowners. Smart Farming can save you money by only target about the top 20% of homeowners in your geographical farming area. So you are spending less on mailers, but targeting a more potent audience. This in turns generates a greater ROI in the long term.
More Sales and More Income
Since companies such as Offrs or SmartZip provide you with the top 20% of homeowners in your neighborhood, you are spending less on mailers, but targeting a more potent audience. This in turns generates a greater ROI in the long term.
Best Way To Execute Smart Farming in Real Estate
For real estate professionals to better farm their area of choice, there’s a need to tailor their marketing strategies, either traditional real estate marketing or through the use of AI to their farming region, to meet their target audience in a smarter and efficient way. This includes:
Through Direct Mailing or Email
Direct mailing is a marketing strategy where the marketer sends posts, catalogs, and other marketing or promotional materials directly to consumers through postal delivery. Ensure that your marketing materials are attention-grabbing with great photos and well-organized content. Send copies that are of a good standard.
Since Smart Farming helps you focus on a specific area of choice, sending out newsletters and emails to your listings is easier considering the size. Subsequently, you can follow up with local daily advertisements, showing up at local events, and your banner spread across different areas in the community.
To be successful at this strategy, you must provide value with whatever content you’re pushing out.
Using Predictive Analytics to Generate Listings
Knowing the best predictive analytics system that will provide you with satisfying results is the first step to take. A system that will consider and study past occurrences and provide you with the real-estate futuristic forecast in geographical farming.
Quite a number of real estate firms on the internet offer this service, but you should keep in mind that in this industry, the source of your data must be credible; else, you’ll be firing blanks. Two of the most reliable firms in the market are SmartZip and Offrs. Similarly, SmartZip and Offrs will help you collect, study, and analyze property data, behavioral data, and consumer data for smarter decisions.
The benefits of using a predictive analytics system is overwhelming. If you ever consider and use it, it’ll save you more time and money, and generates a greater ROI.
Through Online Ads
Another way to engage in Smart Farming is to utilize the internet. With over 246 million unique Google users in the United States, and 190 million people on Facebook, the internet spaces provide a massive reach for real estate agents.
Through these platforms, you can reach out to your prospects via online advertisements. You can send out relevant emails or send them valuable digital gifts. Although you are advertising to generate more sales, sending short but informative ebooks relating to your business will show how much you care about your potential clients.
Smart Farming is a marketing strategy that will make your farming efforts productive. It will boost your business and your prospects will know that you know what is best for them.
It will prevent you from bothering a student who is working on passing exams with your real estate campaigns. You will be able to focus on true homebuyers and sellers.
Through Smart Farming, your real estate is marching to the next level!