Two Real Estate Geographic Farms to Consider for Fall
So, what are your business marketing plans for spring 2024 real estate marketing? Sure, much of the decision-making will center around what’s happening with the economy.
Market soothsayers are hedging their bets when predicting what the Fed will come up with during the March meeting. The latest jobs numbers seem to be the fly in the ointment.
“But Fed officials have repeatedly indicated that they want to be sure that inflation is coming down sustainably before they’ll consider cutting rates, and a more balanced labor market is part of that,” says Molly Grace at BusinessInsider.com.
If you want to play it safe, you can rely on tried-and-true marketing methods. One of the best of these is farming.
Let’s look at three farms we think are worthy of your consideration.
Baby boomers in highly rated-school districts
This year, baby boomers will turn 60 to 78. Last year, the National Association of REALTORS’ surveys found that baby boomers now make up the largest share of both homebuyers and sellers.
In fact, this cohort makes “… up 39% of home buyers – the most of any generation – an increase from 29% last year.” That’s an astounding statistic. A 10% jump in real estate activity in one year? From a group of people who have been stubbornly sitting in the home they’ve lived in for 15 to 20 years?
They’re moving; you should be at the forefront of your market to capture this business.
Then, there are the Gen Xers and Millennial moms and dads who are still in the child-rearing phases, longing to get juniors into a good school district.
That’s the perfect starting point for an agent looking for a new marketing method: farm those baby boomers living in decently ranked school districts. I would market to all of them, particularly those who live in multi-story homes.
Stairs are hard on the knees and we’re betting they can’t wait to get into a home without the climb.
The Absentee Owner Series is shown above. To learn more, Click Here.
Absentee owners
While being a landlord isn’t quite as painful now as it was during the pandemic, the economy still isn’t where it should be, and many Americans are pinching pennies.
Because of this, many landlords are thinking about cashing out. This is an easy audience to market to because most of it is done via direct mail.
It’s somewhat quick and easy to set up, and landlords (most of them, anyway) are eager to learn about the market and what their rentals might be worth right now.
However, this one requires consistency in nurturing. Consistent mailings will keep you top-of-mind but don’t neglect the Just Listed and Just Sold postcards pertinent to the landlord’s property.
Spring will be here before we know it, so let’s get ready!
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