Fam an area that you know very well.  I worked with an agent that farmed 45 miles from home and teh office and did very well

Not necessary. I know many agents who choose neighborhoods because they know it well, but not necessary live there. 

It needs to be an area with proven turnover rate so your chances of listings is increased so that could be or not be your own neighborhrood.

I farm an area that I think will have a good turnover based on the sales of the last year.

There needs to be turnover in housing, and hopefully no one agent who really dominates. Certainly doesn't have to be your own neighborhood

Could be your neighborhood doesn't have enough turnover, or the average price is lower than you want to be involved in.  

I would pick an area I like and where people move.

Mine was, and it worked well.  I was active in the neighborhood civic association and that helped more than mailings!

Jennifer,

Why not, if that is where you want to be the expert. A

Maybe your home neighborhood

Maybe an underserved neighborhood

or Maybe a neighborhood that you want to work in for other reasons.

Yes, plus you are an expert in that area since you live there.  It is also the easiest for you to get to, just walk around it and doorknock, deliver flyers, etc.

Yes because it's the easiest to set up NextDoor.com  in !!!!!!!!!!!!!!!!!!!

I've been told to research an area with higher turn over. 

People move about every 5 to 7 years on average.  Look for subdivisions built 5 to 7 years ago.  Then check to see if enough homes in that area are selling.

How to determine best area?

State income goal and transactions needed to achieve it. (A business plan is a prerequisite)

Identify communities with proper value

Ween list to communities with adequate mobility.

If your neighborhood makes the cut, you should make it yours.

No, check areas with a lot of turnover. I know a community I really like in Leesburg that has around 200+ homes, but no on hardly ever sells. Maybe 1 or 2 per year if that. Another community not far away has 200+ homes with 10 or more selling every year. So obviously i would farm the one that averages 10 sellers every year.

It's not always the best idea to farm your own neighborhood.... sort of like selling to/for relatives in terms of possible issues. Best area depends on critical mass of homes, turnover of homes, and whether one or two agents have a "lock" on the neighborhood. It's a numbers game. And it's wise to farm an area you know well.

I purposely do not farm my own neighborhood just so the neighbors are not buting into my business.

An area close by where there is a good turnover.

Turnover and lack of competition!

 Good morning Jennifer Cross . It depends upon where you think you will have the best success. Sometimes, he will not be in your own backyard.

Jennifer Cross just make sure there are enough homes selling in your neighborhood and is not dominated by an agent. If so, your own neighborhood as first farm should bring the best results for you.

Good Luck.

Look at the turn over rate in the area.

> 5.5% annually in this area.

I actually farm the neighborhood where we live, and specialize in age-restricted communities.  I know the area, the lifestyle, and specifics about the home sales and models, as well as know what is available.  Being new to the area, it was definitely my comfort zone, and no, I don't think it should be the first place you farm, it just was for me Jennifer Cross! 

No.  It depends on your analysis of areas that meet your interests and ROI goals.

I farm the area with the shortests DOM averages.   Shhhh, don't tell anyone

You can farm a price range, as well as an area.

Good question Jennifer Cross . I just started farming my neighborhood for several reasons, #1) Who better to sell your home than someone who has lived here 18 years and loves it?

The next area I farm will most likely be near my office.

My condominium

What a great question and answers!

Farming your own neighborhood is best because you know it the best. Another good choice would be a newer neighborhood where people are starting to sell (maybe 3-5 years old), or an existing neighborhood with high turnover.

Jennifer - Call me different, but I chose not to farm my own neighborhood.

Jennifer,
Good answers, I’ll go with Jeff Dowler CRS. 

I do not farm my own neighborhood, as when I look awful doing lawn work, I don't want everyone coming by and talking real estate.   I like to find a neighborhood where there is a good turnover.

The best farm has a high turn rate

I don't believe that BUT sometimes that's where you know the most people. 

Supposedly you have to look at the turnover rate & it should be above 6% I believe.

Someone also mentioned 'where you wanna live' which is a great idea as you already admire the neighborhood. Has to have that turnover rate though.

parked and reading