1. CAMP 4:4:3 Power Session 16: Prospecting to a Farm

2. Power Session 16 Slide 2 Prospecting to a Farm Introduction How you think matters. Thinking Big at the beginning is like building a twenty-lane highway for your vision of the future. - The Millionaire Real Estate Agent 41

3. Power Session 16 Slide 3 Prospecting to a Farm Introduction Objectives… 1)Discover the basics of geographic farming 2)Review the strategies for farming success 3)Identify the steps to systematically prospect to your farm 4)Identify how to farm first-time buyers 5)Practice contacting your farm 41

4. Power Session 16 Slide 4 Prospecting to a Farm CAMP Map 42

5. Power Session 16 Slide 5 Prospecting to a Farm Basics of Geographic Farming What is a Geographic Farm? Your geographic farm is an area of concentration where you will build long-term relationships with the homeowners. Your goal is to become the real estate agent people in your area think of when they think of real estate. 43

6. Power Session 16 Slide 6 Prospecting to a Farm Basics of Geographic Farming Selecting Your Farm Area 43 How to Select Your Farm Area 1.Number of homes 2.Number of successful sales in the past 12 months (volume) 3.Percentage turnover for the past twelve months (Number successful sales ÷ Number of homes x 100 = %) 4.Average sales price for past 12 months 5.Average days on market for past 12 months 6.Current number of homes listed today 7.Average days on market for homes listed today 8.Convenience for you 9.In your opinion, quality of school district 10.Feels like a good fit for you

7. Power Session 16 Slide 7 Prospecting to a Farm Strategies for Farm Success 1.Door-knock. 2.Circle prospect. 3.Hold open houses in your farm area. 4.Get involved. 5.Know your market statistics. 6.Market to your target area. 7.Remember your goals. You want to: a.Get an appointment, b.Get a referral and/or, c.Strengthen the relationship 44- 45

8. Power Session 16 Slide 8 Prospecting to a Farm Systematic Farm Prospecting 46 How to Prospect to Your Farm 1.Park your car at the end of the block and walk door-to-door. 2.Introduce yourself to the homeowners and ask if they know anyone who is looking to buy or sell real estate, or announce a “Just Listed” or “Just Sold” (if circle prospecting). 3.Offer your business card and a free report or an item of value. 4.Use a clipboard to collect people’s names, e-mail addresses, and phone numbers. Input this information into your contact database. 5.Maintain contact with your farm by regularly checking in and dropping off items of value.

9. Power Session 16 Slide 9 Prospecting to a Farm Systematic Farm Prospecting Contacting Your Farm Before you start contacting your farm, set a target goal. Most agents can handle making personal contact with 200- 500 people in their geographic farm each year. Once you establish your goal, break it down into manageable activities. 46

10. Power Session 16 Slide 10 Prospecting to a Farm Systematic Farm Prospecting Maintaining Contact Implement a regular door-to-door canvassing plan and time- block it into your schedule. If you meet a buyer or seller lead within your farm, make sure that you launch that individual on an 8 x 8 immediately (see Power Session 3). 47

11. Power Session 16 Slide 11 Prospecting to a Farm Systematic Farm Prospecting Exercise Directions: 1.Brainstorm creative low-cost or no-cost items that you can drop off or give away. Enter your responses in the following table. 2.Come up with a total of 24 items – so that there are two things you can give away each month to everyone in your geographic farm. Time: 10 minutes 48

12. Power Session 16 Slide 12 Prospecting to a Farm Prospecting to First-Time Buyers Introduction to First-Time Buyers Truth #1 They don’t have an agent yet. 49- 50 Truth #2 There’s a reason they don’t have an agent.

13. Power Session 16 Slide 13 Prospecting to a Farm Prospecting to First-Time Buyers Strategies for Success with First-Time Buyers 51- 52 How to Prospect to First-Time Buyers 1.Choose one area with a lot of renters. 2.Take a low-key approach. You are simply providing them with valuable information. 3.Provide items of value. A report on the benefits of Renting vs. Owning is included in your Tool Kit.

14. Power Session 16 Slide 14 Prospecting to a Farm Practice Role-Model Watch as your instructor demonstrates a door-knock to his or her farm. Discussion Question How will you keep your name “top of mind” in your farm area? 53

15. Power Session 16 Slide 15 Prospecting to a Farm Practice Exercise Door-Knocking Directions: 1.Divide into two groups. 2.One group will be the “doors” and the other will be the agents. 3.“Doors” should stand as far apart from each other as possible. 4.The agents will go “door-to-door,” knocking and delivering their farming script. 5.Once the agents have knocked on each door once, the roles will reverse. Time: 30 minutes 54

16. Power Session 16 Slide 16 Prospecting to a Farm Assignments Power Session Assignments 1.Determine a reasonable area to farm, and compile market statistics for it. Review the job aid Know Your Inventory (in your Tool Kit) for assistance on what statistics you should compile. 2.Spend at least one hour going door to door within your farm. 3.Schedule and initiate follow-up plans. 55

17. Power Session 16 Slide 17 Prospecting to a Farm Assignments Ongoing Assignments 1.Complete 10:5:15:5 a)Collect 10 business cards. b)Make 5 phone calls. c)Send 15 notes or letters. d)Preview 5 homes. Record your progress on the Success Grid. 2.Schedule a one-hour role-play session with your CAMP Buddy. Practice the farming scripts. 3.Review the job aid Support Team Worksheet in your Tool Kit. Fill in any additional team members you have identified. 55

18. Power Session 16 Slide 18 Prospecting to a Farm Assignments Something to Think About… What associations, clubs, or leagues can you join (or start) to create stronger relationships within your farm? 55

19. Power Session 16 Slide 19 Prospecting to a Farm We have talked about… 1)The basics of geographic farming 2)The strategies for farming success 3)The steps to systematically prospect to your farm 4)How to farm first-time buyers 5)What to say when contacting your farm sum