Knowing your Neighborhood and Housing Market.
I make a habit, that one day of the week, I drive through neighborhoods and see what is selling or not. I want to say to my sellers and buyer, “I know that neighborhood.” Being a good Realtor, you have to know the following: Neighborhood, Subdivision and Community Parks, Schools, Local Shops and Restaurants. I do my best but there is a technique I use to better myself and know my Neighborhoods. I farm my neighborhoods. People ask me, what do you mean by farming the neighborhood. Let me explain the meaning of farming.
What is Real Estate Farming?
Real estate farming is a marketing technique used by many successful real estate agents to develop business in a specific area or market demographic. They “farm” the area for leads, contacts, knowledge of the neighborhood. This takes a lot of work and time. This involves direct mail, door knocking, postcards, newsletters, email, websites, or community events (Hosted by the Agent).
The term “farm” implies growing something, and that’s exactly what you do when you farm a local subdivision or neighborhood. You’re planting the seeds, keep contact with the locals and this leads to future business. Hopefully, you’ll reap the rewards in being trusted with the locals and community. They’ll think of you first when they have real estate needs. If an agent be consistent and do this right, it can reward the Realtor with a commission.
I drive and get lost in purpose.
Why would I do this? I have a good explanation and reason for this. I do this, so I can see neighborhood, parks, what is being developed or even stopping the car to say hello to the neighbors. I hate to have a conversation with a future buyer or sell and they tell me this, “(Seller asked) Have you ever seen the park in my neighborhood? (Buyer asked) Is there any parks in this neighborhood?” At this moment, I should know the answer to those questions. This is the reason; I drive and get lost in neighborhoods. I want to see and explore the neighborhoods that are in my farming area.
What I look for in Neighborhoods
Any neighborhoods that I explore, I look for the following.
- The name of the community/neighborhood
- The condition of the neighborhood: Houses and Landscaping
- Any playgrounds, tennis courts, community pool, etc.
- Any local parks with sports complex: baseball, soccer, etc.
- Any Golf courses belongs to the community: Private or public?
- Any Golf Course near to any community that is public?
- The closes hospital or 24 hr. clinic
- Which school is attached to the community?
- The community Gated: 24 hr. Guarded or gate access?
- How far is the local Grocery Stores, restaurants, and Shops
To be truly honest, if a client is looking for something more specific, I’ll be happy to look into it.
I say this to all my buyers and sellers, write a list of question and give it to your Realtor. Drive through the neighborhoods, on the weekends. When you go to an Open House, take a drive through the neighborhood. Have fun and be safe.