What is Target Marketing? I like to refer to it as laser surgery. While many Realtors, before building their referral business, try Farming as a way to generate buyers and sellers, I have found that most will use geographic and neighborhood Farming as a first resort. The are lot's of Farming ideas out there to be utilized.
Did you know that public records (varies from county to county) offer some great ways of building prospects using the data in a different manner? We all know you can search and Farm for empty nesters, move-up and move-down buyers, renters and most likely to list properties. Non-owner versus Owner-Occupied etc. What you may not know are all the ways public records can be searched to get you the most results, with the least amount of cost or time invested. Target Marketing!
Some examples of Target Marketing might include:
- Investors (multiple property owners)
- 1031 Exchange Candidates (investors)
- The For Sale By Owner
- The City (planning commission or permits dept)
- REO Properties (Data Available)
- Relocation Companies
- Active Rain Real Estate Investors
- The Local CPA or Tax Accountant
- Transfers By Deed Type (Affidavit, Interspousal, Quitclaim etc)
- Search by Land-Use Code (99 Different ones in my County)
- Nearby College Properties
- $1,000,000 Property Farm
- The "Rich and Famous" Farm
- The "Moving Sale" or "Garage Sale" Farm (check your local listings)
- The Cemetary Farm (Homes Adjacent to Cemetary)
- Statistical Farming (using demographics and analysis data)
- Zoning Codes Farm
- Interest Rate Type & Loan Type etc
plus many other options are available in different market areas.
This post is just to get you to think outside the box. What other ways might data be available to you? How about your MLS, the Internet, Your Local Paper, Online Database Managers, other official records from the assessor and recorders office etc?
Of course once your business is established, you will no longer need to farm, most your business should come from referrals or sphere at that point. Target marketing is probably one of the least utilized, most over-looked forms of increasing business. For the most part, many realtors and lenders don't even know this data is available to them.
Check with your local Title Company and see what they can provide you as a "Target Marketing Farm". My advice is to find one or two niches that work well for you, "follow your passions", and be relentless in your efforts. If you want the worm, don't just be the early bird, dig even deeper, then you can be the bird that gets to sleep in once in awhile!