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Farming Power

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Agenda

What Farming Is

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Why Farm

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How to Farm

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What is farming?

Definition of Geographical Farming:

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“A group of homeowners in a specific community who you do not yet know, but who you will get to know over time, through genuine relationship building and targeted strategies that you will implement on a consistent basis.”

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Why Farm?

Become The Mayor of Your Farm

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WHY

  • Branding
  • Consistency
  • Your ‘ideal’ client
  • Anyone can farm
  • Repeatable + Predictable Business
  • Gain a competitive advantage
  • Confidence
  • Referrals + VIP’s
  • Lucrative Pillar of Insurance

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EXAMPLE

Your average income $100,000

Average Sales price is $1,000,000

Average GCI per deal $25,000

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Let’s say you sell 6 homes per year

How your farm will add to your income

After 1 year:

2 homes sold ($50k + $100k) = $150,000

4 homes sold ($100k +100k) = $200,000

6 homes sold ($150k + 100k) = $250,000

12 homes sold ($300k + 100k) = $400,000

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How to Farm?

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Picking a Farm

  • Turnover rate
  • Is there a Dominant Agent in the Area? Is there 2 or 3?
  • Absorption rate
  • Do you live in your farm or very close by?
  • Seller Demographics and Psychographics so you can market to them

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Turnover Rate

TR = the # of homes sold in the past 12 months ÷ the total # of homes in the neighbourhood.

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Example: My Farm

12 homes sold (in 2022)

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500 homes in neighbourhood = .24 x 100

Turnover rate = 2.4%

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Marketing Strategies

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How do they get to know you?

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The Stages of Farming

The expectation of the Agent is what kills enthusiasm (to continue farming).

Farming is a long-term process.

Take your time to bring value to your neighbours, to build a genuine relationship one door at a time…

Take a step back and ask yourself: How can I be of help?

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Stages of Farming:

Months 1 to 6 (Jan to June) = Getting to know you

  • Your objective:
    • Be of value – bring an item of value
    • Build a relationship
    • Show genuine interest to help
    • Show you care

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Stages of Farming:

Months 7 to 12(July to Dec) = Getting to like you

    • They look forward to and enjoy getting your newsletter
    • They like the (calendar) you gave them
    • They saw your open house signs
    • Rapport is easy
    • Trust is building
    • You’ll start getting home evaluation appointments
    • You MAY get a listing!

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Stages of Farming:

Months 13 to 18 = Getting to LOVE you

    • “I see you everywhere” (Celebrity Status)
    • Reputation as a hard worker
    • A relationship is formed
    • They invite you in
    • Trust level is high
    • You get (a) listing(s)!
    • Your competitors take notice, start sending out more pieces, cold calls, etc.
    • KEEP GOING!!! DON’T LET UP

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Stages of Farming:

After 18 months…

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Some have formed their own opinion – most love you

You see other for sale signs go up – its going to happen

You must not lose confidence – go visit your VIP’s

Increase your efforts – try new things!

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Stages of Farming:

Neutralizing Stage – 24 months and on

  • Momentum and energy = success!
  • Mindset is key
  • Go back to the basics and keep doing what you did in the beginning

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Skills & Qualities you Need

  • Confidence
  • Script Practice
  • Overcoming your own (mis)perceptions
  • Facing Fear: Mastering a mindset
  • Embracing Authenticity
  • Market Area Knowledge*
  • Know who you’re up against: your competition knowledge (individual vs. team)
  • Genuine Care
  • Personality + Humour = use your own charm
  • Have GOALS written down

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Getting set to �“Hit the Streets”

Goal Setting Targets:

  • Choose a time you will door knock
  • Aim to speak to 50 people per door knock session

(100 doors knocked = 30 people home)

  • Trial and error – find your energy ‘MAX’

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Getting set to �“Hit the Streets”

Track you Progress:

  • Have your own system (binder/clipboard/digital)
  • Take notes vigorously
  • Ask for contact info! What do you say?
  • Make notes of Realtors that live in the farm
  • Make notes of doors NOT to knock

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Getting set to �“Hit the Streets”

Door Knock Partner:

  • One motivates the other
  • Makes it fun and more enjoyable
  • Creates good energy
  • Keeps you accountable

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PART 2: Door Knocking Plan – 1 year snapshot

How often?

When do I go?

What do I bring with me?

What do I say?

Objection handling

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How Often?

…. DEPENDS ON THE SIZE OF YOUR FARM!

ONCE PER QUARTER (SEASONAL)

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When do I Door Knock?

AT A TIME YOU WILL COMMIT TO!

“WITH CONSISTENT EFFORT…THAT IS WHERE THE MAGIC HAPPENS”

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What do I bring with me?

Something

of

Value

Differentiate yourself

Be authentic

Think of what they would want

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What do I say?

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ROLE PLAY

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Objections

  • I’m not selling any time soon…

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  • Oh, we already have an agent…

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  • I’m going to sell it to my neighbour…

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  • If I sell, where am I going to go?

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  • Your level of commitment
  • Your consistency to stay focused
  • Your goals
  • You ACTUALLY have to knock…
  • You must genuinely care
  • You can build a great life!

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You have the opportunity and freedom to choose how you would like to spend your life!

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