Have you been looking for the answers to “how do I select which areas to include in my farm?” First, make sure there is a healthy turnover rate. Ideally a good real estate agent farms would have home selling at 5-10% in any given year. If the turnover rate is less than that, then you likely will not be getting enough leads and/or sale to make it worthwhile.
Second, research and consider if there is one real estate agent or broker who has more than 40% of the market share in the neighborhood or area you are considering farming. If so, it is advised that you move on to the next possible farm area for a better return on your financial and time investment. It’s harder to make inroads against an agent that has developed a reputation of selling homes in that farm area.
Thirdly, match up the price point with your comfort level and personal style. If it’s in a luxury area of million dollar homes and you’ve never sold one, then it’s not a good match. If the properties typically sell to investors and you have never worked with investors this might be the best farm area for you even if it meets the first two criteria.