Thinking local in residential real estate

When you think of real estate, you probably don’t think of farming; but for Realtors at 8z Real Estate, it is a cornerstone of their business. While it may not be the same type of farming that first comes to mind, the farming tactics, practiced in real estate, plant the seeds of a Realtor’s involvement in their community and their real estate career successes.

A farm, in real estate terms, is a geographical community specifically marketed to by one broker. Each Realtor at 8z Real Estate picks a specific community where they will farm, which is usually where they live or very close by. The size of that community is key.  By defining a community to be too large, a Realtor will likely not reach out frequently enough with direct mailings of real estate, and never establish themselves as a brand. 

By defining a community to be too small, while they might be recognized by residents, there may not be enough real estate turnover to make their farming efforts pay off.  8z Real Estate has a one-to-one match, allowing just one Realtor to farm a community. Though they help people buy and sell homes throughout the area, this specific neighborhood or group of neighborhoods is where they really focus on being the ultimate community expert.

8z Real Estate believes that a Realtor can best serve their clients at a hyper local level. Any Realtor can schedule a showing, but not every Realtor will know that neighborhood inside and out. A local market expert has viewed the listings within their communities, studied the real estate market at a neighborhood level, and can translate that knowledge to a home buyer or seller who is trying to make a competitive offer or properly price and sell their home.

Real estate goes beyond the transaction. To learn about real estate in that community and best serve clients, a Realtor has to be passionate about that community. Many 8z brokers are involved or volunteer within their communities, which range from youth sports, PTAs or neighborhood associations.  Through their involvement, they are not only known and recognized within their communities, but provide value to the communities in which they live and work.

In February 2014, a company matching “Community Seeds” program was created to be a catalyst for 8z brokers to give back to their communities. 8z Real Estate matches up to $250 a year for each community, for 8z brokers to sponsor events or organizations that directly benefit the community.  Closing in on one year, local organizations and community events that have benefited from 8z Community Seeds include elementary school talent shows, Little League teams, PTAs, neighborhood socials, and more. 

As Lane Hornung, 8z Real Estate President and CEO explains, “Being involved within a community is more than writing a check.  By farming a community that the Realtor lives in, they are encouraged to give back to the groups or organizations that they participate in.  It creates a genuine involvement and relationship between the Realtor and their community.”

Many Realtors aspire to start farming a community to build their business, but are limited by time and expertise to develop the online and offline marketing materials to promote their expertise in that farm.  That is where the 8z Real Estate marketing team steps in to support Realtors with tried and true farming marketing techniques. These comprehensive marketing programs utilize blogging, social media, newsletters, and postcard mailers, to assist great Realtors to share their neighborhood expertise online and offline.  

Once a farm community has been defined, an 8z broker is supported with a community website, known as “the Pulse,” through the 8z Real Estate farm marketing program.  The pulse is a dependable source of all things real estate within the community.  Residents who may not be considering selling their home find it to be a valuable resource, by keeping a pulse on the real estate activity in their neighborhood. Each month a farming Realtor will produce a monthly market update for their community, analyzing the inventory of homes available, days on market, and pricing. As Hornung explains, “Homeowners are constantly interested in the value of their home, even if they are years away from selling.”

The newest upgrades to the Pulse community websites, in time for 2015, will further solidify their web presence and 2015 farming goals. New features to empower residents within a community to learn more about local real estate activity include:

• Infographics give a visual representation of real estate activity within the community,
• Estim8z gives a home valuation estimate that factors in local real estate sales, and the property’s unique characteristics that affect pricing,
• Improved layout and design that will help users find real estate help, or their local community real estate expert.

Farming works. Residents get access to better hyper local real estate information to be able to make informed decisions about buying or selling a home within a community, and the option to have representation from a full time real estate expert in their communities. Realtors can specialize their expertise and develop a steady source of leads within their farm community. Many Realtors at 8z are the #1 or #2 listing agent in the neighborhoods which they specialize.

To find if your neighborhood is included in a community Pulse website, visit pulse.8z.com.  To learn about careers in real estate go to 8zcareers.com.

(This paid content was provided by 8z Real Estate.)