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<\/p>\nTo some…. finding your perfect farming area falls under the same category as the long-lost world of Atlantis, Holy Grail, and whether or not Russia really is hiding a bunch of valuable\u00a0\u00a0Faberge eggs.<\/p>\n
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Finding your next farming area may not be the most simple of equations, but luckily for you – that’s exactly where StreetText thrives. When choosing your next farming area, here are some key things to take into consideration so you get the most out of your Facebook advertisements, and target areas\u00a0to\u00a0get the most out of your Facebook Lead Generation<\/a>!<\/p>\n The first thing to keep in mind when it comes to choosing your next farming area is the size and population of a said area. The goal is finding that sweet spot; nothing too big, and nothing too small. What does this look like, exactly? Well… I’m glad you asked – because the truth is it’s not a perfect system and it will vary from city to city. With that in mind, the optimal range we’re looking for is roughly\u00a040,000 – 80,000 people and usually consists of 2-3 zip\/postal codes.<\/p>\n Remember, even if you’re in a larger city (like Vancouver, Los Angeles or New York) your target number will be focused on those specific zip codes, and not taking the total population.<\/p>\n Again, the best thing to do in this case is to look for the sweet spots – but that can vary from area to area depending on where you’re located. The best rule of thumb would be to chat with your Facebook Lead Generation<\/a> Specialist about this, however,\u00a0we recommend keeping the age range open for both buyers and sellers campaigns.<\/p>\n The average homeowner owns their home for 8-10 years which means that people who have built equity over that amount of time are more likely to sell. Our statistics show areas with rapid increase median price comes with higher turnover. Higher turnover means more potential clients.<\/p>\n Sometimes we bite off more than we can chew… which is why sometimes people purchase homes that are a little out of their price range – or a little under.\u00a0For example, you could find that an average household income in an area is 120,000 a year, and an average house selling for 250,00-270,000. \u00a0This could indicate that many people in that area might plan to move as their income would allow them to afford a higher end home.<\/p>\n Keeping an eye on your turnover percentage is important for more than one reason. The turnover percentage is calculated as the total number of homes sold over a year in the area, divided\u00a0by the total number of homes in the area.\u00a0While each area and zip code could be vastly different, having at least 4% turnover is usually good enough and should provide you with enough listings.<\/p>\n It incredibly valuable to establish how much your potential market share is, and might be. If you go on MLS, we recommend looking at sales of other agents in this area. If you notice that 1-2 entities control say 30% of the market \u2013 that\u2019s not bad, as there is about 70% room for you to establish personality and growth in this space. However, if the opposite is true \u2013 that 70% of the market is already controlled, that means you\u2019ll be competing against a huge brand of already established personality. You might have less luck in this location. In this situation, you will need to have a laser focus on what your customer needs are to be able to compete.<\/p>\n Taking all of these things into consideration may just unlock the key to your perfect target area. As much as these rules work, it’s important to remember that it might take some tweaking and adjustments before we get the perfect\u00a0algorithm\u00a0that works for you and your area. Give us a call! Touch base with support – or one of our lead generation specialists for more information. StreetText aim’s to generate the most leads for you, in the easiest way possible.<\/p>\n What’s Next?<\/strong><\/p>\n Now that you’ve zoned in on your neighborhood, did you know you can use Facebook to digitally door-knock on thousands of potential home buyers and sellers, everyday? Here’s how to take your online lead generation strategy to the next level on Facebook!<\/a><\/p>\n <\/p>\n Other Interesting Blog Posts:<\/span><\/em><\/p>\n Facebook Real Estate Ads<\/a> Facebook Real Estate Leads Facebook Real Estate Advertising<\/a>1. Keep your eye on Population<\/h3>\n
2. Don’t overlook potential lead’s ages<\/h3>\n
3. Increase in Median<\/h3>\n
4. Salary vs. Average Home Worth<\/h3>\n
\u00a05. Turnover Percentage<\/h3>\n
6. Potential Market Share<\/h3>\n
Congrats, you now have everything you need to\u00a0farm that perfect neighborhood!<\/h3>\n
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\n<\/span>Find buyers and sellers with Facebook ads<\/span>
\n<\/span><\/em>
\nReal Estate Leads Generator
\n<\/a>How to capture real estate leads\u00a0online today.<\/em><\/p>\n
\n<\/a>How to generate inquiries with Facebook farming<\/em><\/p>\n
\n70% of all home buyers and sellers work with the first Realtor they meet<\/p>\n