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Wasteful Spending: NASSIT And HFC-Real Estate Farming

 

Written by: I. T. Kamara, (Krugba) Real Estate Broker/Consultant

Are you willing and able to learn from the Real Estate Professionals? If the answer is yes, well keep on reading. You’re reading this article, because, you are academically thirsty in real estate. The Real Estate Farming and leads are not in the USA but in Sierra Leone. Sierra Leoneans in their own land needs to be convinced and encourage in buying real estate properties and in turn, they will get their family members in diaspora to do same. Furthermore, all real estate agents owe their clients a fiduciary relationship and all facilitators must tread cautiously to avoid misrepresentation and this kind of wasteful spending.

 

Painstakingly, real estate farming is the process of branding oneself to a specific group of people, area or market segment as a first choice agent for homebuyers, home sellers or real estate investors. Don’t leave the soils of Sierra Leone, to go the USA for real estate farming; it’s completely wasteful spending of taxpayers’ money. Consult our real estate consulting firm.

 

Let’s take an in-depth look into real estate farming as I know it as a real estate broker. The first step in the process of real estate farming is the act of identifying the specific niche you want to specialize in. Do you want to farm in the USA while you are here in Sierra Leone? Why don’t you like farming in your own neighborhood to get results? To succeed in Real Estate farming in the USA, you must be a real estate licensee and be able to access the Metropolitan Listings System (MLS) in Maryland, Virginia and Washington D.C., respectively to enable you conduct your real estate farming. There are certain types of real estate properties such as new homes, apartments or condominium complexes or like those of your newly built homes in the Western Rural Area which are too expensive and unaffordable for the middle and the low class incomers. Their rate of occupancy runs very low and empty. NASSIT and HFC needs a real estate professional to the rescue this ugly situation.

 

The next step in Real Estate Farming is to gather in-depth knowledge of the area or market segment. Study each property sold as well as the location to get a feel of the finances and the general characteristics. Include in your research all the other listed homes and become familiar with every little detail concerning the pricing, the state of the market, the offers and the requests. To attain this goal, you can also visit the open houses at the time, participate in the weekly tours of homes, and gather data about adjacent neighborhoods as well.

 

After you’ve catalogued all this data, turn your attention to the neighborhood in question and start putting together a presentation portfolio. Education (Schools, Institutions and Colleges and etc.) and transportation in the area are very important elements that can drop or raise the prices in a real estate market. Also, analyze shopping centers, churches, parks, movie theaters and any other significant places in the neighborhood. You will need to know all of these details if you want to be considered the expert and the first choice in the area.

 

Take pictures of all your listings, outside and inside to give the clients a better idea before the actual visit. Also, be sure to include pictures of the neighborhood itself in the buyer package. In short, you need to be prepared to answer every question that may be thrown your way.

 

Painstakingly, these are real estate farming methods you need to know as a real estate professional: The keys to all the success for any real estate farming method are: Quality, Quantity and Consistency (QQC).

Quality – Whatever method you use, be sure to employ quality means. People are sick and tired of getting ads in their evening news broadcast and cell phone inboxes. They will probably get rid of your add before even bothering to read it. So instead of treating them as cash-cows, orient your farming so that it benefits your recipients instead of yourself. Give them something they can use, namely quality information: tips on buying and selling houses, mortgage information, house improvements, anything that might interest your target audience.

 

Correspondingly, take care with your advertising materials. If you use flyers, don’t use cheap paper and low-quality printing that gets on people’s hands before your ad is even read. It will make you look unprofessional.

 

Quantity– In some areas, less hands out are certainly more, but in farming a specific area, you need to get your name out there to as many prospective clients as possible. So there needs to be a sufficient quantity of targeted people and in consequence, an equivalent quantity of promotional material not to take unprofessional trip in the USA to waste taxpayers funds. People don’t sell houses every day, so you need a large enough base to keep a steady stream of business coming your way. For a good turnover, you need at least 150 properties a year. But in order to get these 150 properties, you will probably contact at least twice as many possible many property owners and buyers. So while you don’t want to unsolicited mail with your flyers and emails the whole city, you certainly don’t want to be facing a very interested prospect while reaching in your wallet for a business card and finding none.

 

Consistency – After the initial contact, it is crucial to do follow up. People don’t like being taken over by a well-thought marketing campaign like the one which NASSIT and HFC just did in the USA and then forgotten about them completely. Also, while NASSIT and HFC are idling for over a month for not been able to revisit all the States in the USA, then the competition might rear its ugly head to neutralize and impede situation. So, be sure to do everything in your power to keep your name in your target public’s head. It’s after all about being the first choice, the real estate agent to pop up in people’s mind when they decide to do a real estate transaction.

 

Furthermore, this can be done by starting to take advantage of your circle of friends and meet as many people as possible. In the future, make sure you trained good professional realtors to conduct the farming and market all your real estate properties. In the same spirit they can also go around the neighborhood and knock on doors.

 

Once you’ve made the first contact, be sure to follow up at least every three months by talking to them. Also, send them quality information both offline, though regular mail, as well as online, using direct mail and newsletters. Don’t forget, these people know other people and so on, like a domino effect. As trust runs high on the list of reasons for choosing an agent, referrals from friends will help bring new prospects to your doorstep.

 

In the same spirit, do not forget to take referrals and testimonials for yourself. Display them on your website and on offline marketing tools (brochures, flyers, posters). No matter which methods you use, be sure to collect as much data as possible. But you can get valuable feed-back as well. What kind of house is a potential buyer looking for, what and when does a seller put his house on the market, what does a person look for in a real estate agents and many more. Also, it may be that they know someone else on the verge of a real estate deal.

 

Once again, be sure to follow up and, most importantly, always ask permission to call. If an email can be deleted without too much trouble, an unexpected phone call can be annoying and you may end up losing a client.

 

The first and most obvious advantage of real estate farming is branding you as a trustworthy and savvy professional realtor. You must hold a real estate license. Buying or selling a house is quite possibly the most important business transaction most people will make during their life-time. Because of that, trust and reputation are indistinguishable factors in choosing an agent. Real estate farming builds your image over time so it is quite probably the best way to conduct and promote your real estate professional. The Successful Methods of Real Estate Lead Generation will be published in the next publication.

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