RSP Target Farming: Case Study

The Impact of Using A Targeted Approach to Geographic Farming


Being a successful real estate professional in today's world isn't easy. Competitor business models, consumer inundation of generic clutter (print and digital), and an increasing number of licensed agents are challenging the opportunity for you to succeed. Successful agents know that you cultivate sales through consistently delivering value-driven content to homeowners, building awareness and trust of your brand. But just how does this work, and what does it mean for you?


Objective


In 2017, we compared results of agents who use our target farming reports to those who do not. All of these agents are in leading real estate companies we service, including Coldwell Banker NRT Florida, Long & Foster Real Estate, The Keyes Company Realtors, Douglas Elliman Real Estate, BHHS Koenig-Rubloff, and Allen Tate. We analyzed several different factors, including the number of transactions obtained, results within the same agency (those using program vs. not), the amount of time using our program, and the type of transactions agents received as a direct result of our mailings.

As the results of this case study show, targeted geographic farming can yield powerful results when properly executed; hence the success of our Target Farming Reports.

Results


Double the Transactions Within Areas Farmed

Within neighborhoods farmed, agents had twice as many sold transactions during their second year of farming when compared to the 12 months before mailing started.

12 Months
Before Mailing
Second Year
After Mailing
#
Change
%
Change
Average # Sold 4 8 +4 100%

Listings Increase Over Time

The longer agents consistently mail Target Farming Reports, the more listings they obtain.

Reason: It takes time to establish you as the neighborhood real estate expert, and it also takes time for owners in the neighborhood to decide to sell.

The graph represents the average number of listings obtained by agents within neighborhoods farmed with RSP. Agents are grouped according to the number of years they mailed every 60 days to the same neighborhoods.

During the first year of mailing, agents are establishing their presence and building credibility with homeowners. In the second year ("yellow bar"), agents average four additional listings within their farmed target neighborhoods. With each additional year of mailing, the number of listings increases!

Listing Leads > Buyer Leads

The majority of transactions obtained through Target Farming Reports are for listings.

Reason: More than any other marketing type, Target Farming Reports are the best single way to create listing leads. While web marketing is great at creating buyer leads, it is less successful at generating listings. Our reports are consistently mailed to owners over time in targeted neighborhoods, delivering valuable information, including market trend updates and what sold in their neighborhood as well as in other similar neighborhoods. This information brands you as the neighborhood expert and makes you the agent homeowners are likely to choose when it comes time to list their home.

Homeowners often share their report with family and friends or call to ask about "Featured Listings" in their report, generating buyers and referrals.

Collecting and analyzing thousands of testimonials as agents obtain leads or business from their Farming reports, we have found that 30 percent of all business comes from buyers or referrals. The remaining 70 percent came from sellers who listed their property with the farming agent.

It only takes one transaction to pay for an entire year of Target Farming Reports.

Reason: The cost to mail 300 reports six times during a year averages around $2,200. What you make from just one $200,000 sale at a 50% split is $3,000.

Try it for yourself:

What Our Clients Are Saying

"RSP is my #1 marketing tool. They have made me millions and continue to be my main source for new listings."
Mike McCann, Berkshire Hathaway HomeServices / Fox & Roach Realtors (PA)
"RSP is a major part of my marketing efforts to secure listings in my market. The Target Farming Reports that I use are very professional and attention grabbing."
Warren L., Palmerhouse Properties (GA)
"I would attribute 75-80% of my business directly to this program."
Geoffrey K., Coldwell Banker (FL)
"I recommend RSP to everyone. I now have eleven RSP farm areas because I know it works."
Cindy B., Allen Tate Realtors (NC)

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For More Than 20 Years