In addition to being an active real estate agent and an industry technology trainer and coach, I also teach new agents how to jump into the wonderful world of real estate. I teach them how to look for business, how to be confident and competent, and ultimately how to be successful. One of the things I talk about is niche marketing – which in most cases is the same as a geographic farm. (No, not a 100 acre plot of land with sheep, chickens, a large red structure and tractors…).

I know this really has nothing to do with cool web 2.0 gadgets and phraseology, but I still find it a useful part of my business plan and I want to share it. So there. Most of the web 2.0 world revolves around marketing, which I happen to love. However, there IS a facet to our business that cannot ever go away … prospecting. Prospecting is going and getting business – not waiting for it to come to you (marketing). Prospecting is an essential part of real estate, and it does not have to be in the form of “in-your-face-salesey-blech” either. Prospecting is a very important way to get business when you don’t want to/can’t spend a lot of money.

So, blah blah blah … Let’s continue.

Here are the Top 5 Cheap Ways to Dominate Your Geographic Niche (aka FARM)

Create a Neighborhood Blog

~ Cost: $ZERO

Okfine.

This is a little web 2.0 … Once you have defined your niche – found the neighborhood that you want to dominate – create a blog for it. Set up a free WordPress.com blog. I have a free WordPress.com blog for my niche: Greenhaven Real Estate (with a sub category: LivingInGreenhaven.com that links directly to the community specific posts).

• Name it appropriately.
• Have your contact information readily available on every page and post.
• Have a “Search for Homes (or land) in [neighborhood]” link on most posts.
• Have a “Search for Homes (or Land) in [neighborhood]” link on the main page and sidebar.
• Post a market report every month.
• Post pictures of the neighborhood.
• Post about neighborhood events and activities. (New school, neighborhood BBQ’s, local businesses…).
• Post about HOA meetings and guidelines.

Posting only about 2x a month to this blog is just fine.

Create a Simple 1-Page Quarterly Newsletter

~ Cost: $652. a Year (or $54./month)

The newsletter that I create has a couple blog posts printed on one side, the recent market report on the other. Simple cut and paste techniques. There are 250 homes in my niche and I only print and send/deliver the newsletter quarterly. Other things to include:

• Your contact information on header, footer and side column.
• Call yourself the [neighborhood] expert.
• Promote the [neighborhood] blog that you created.

Tip: Mail them out 2x a year and hand deliver them 2x a year. Not only will this save you a few bucks in postage, but it will put you face-to-face with the folks in that area.
Cost Breakdown:

• 300 homes x 300 stamps x 2 times a year = $252.00
• 300 color 1-pg. double sided newsletters = $500.00 (source)

Go Door-to-Door At Least 2x A Year

~ Cost: $Zero

I take the time to go door-to-door at least 2x a year. Sometimes it takes a couple days to fully canvas the ‘hood, but I can usually knock it out inside a week. I use this opportunity to hand deliver the most recent newsletter. Sometimes people are hesitant to speak with me (or even open the door further than a crack…). However, they warm up to me right away when I say, “Hi. I’m Mariana. I am just delivering your neighborhood newsletter. There is some information on the recent sales in [neighborhood] as well as [whatever other information you put in the newsletter]. How are you doing?” Start a conversation. *If you live in that area, tell them that you are their neighbor.

Create Niche Business Cards and Calendar Magnets

~ Cost: $143.00 a Year (or $12/month)

Create a custom business card for your niche. Include:

• A picture of the ‘hood, if possible. Make it pretty.
• Your contact information
• The URL to the neighborhood blog
• Call to action … a reason to visit the blog, or to call you

Take these cards and attach them to calendar magnets. Hand-deliver these to your niche – along with the newsletter. The calendar magnets are an excellent way to keep you in front of them … especially if there is a pretty picture of their neighborhood on the card.

Cost Breakdown:

• 300 calendar magnets: $123.00 (source)
• 300 business cards: $20.00 (source)

Put Together a Neighborhood Garage Sale and Open House Tour

~ Cost: Maybe $200./year ($17./month)

This is a great way to get to know the people in the neighborhood. Start early and don’t plan a date that will conflict with major holidays.

• Advertise that you are looking for volunteers in a newsletter – or on a sign posted in the area.
• Meet with the volunteers and assign them tasks to help you put it together.
• Coordinate with the agents who have listings in your area. Each agent should kick in a predetermined amount of money that will pay for any advertising costs.
• Advertise the event in the blog, in the next newsletter, on Craigslist and in the local newspaper.
• Create maps that will be distributed at the entrance of the neighborhood. Direct people to the “featured” garage sales and open houses.
• Make sure “[neighborhood] Annual Garage Sale and Open House Tour is sponsored by [you and your contact info.]” is on the map.
• Read More: 20 Easy Steps to Build a Community Garage Sale & Open House Tour (AND Your Blog)

This can be SUCH a fun event for your niche. (I am in the middle of putting together the 2^nd Annual Greenhaven Garage Sale and Open House Tour.)

All together, you could easily take care of all of this for about $995. a year – or just $83. a month.

With our niche of 250 homes, and the effort that we put into it, we get several inquiries a month and about 4-6 great clients a year – both buyers and sellers. With an average sales price of about $275k, that is a great ROI.

I hope that these tips help you dominate YOUR geographic niche.