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Rainmaker
3,986,196
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

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

Feb 14, 2016 06:54 AM
Rainmaker
1,619,091
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

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

Feb 14, 2016 03:52 PM
Rainmaker
3,988,007
Debbie Reynolds, C21 Platinum Properties
Platinum Properties- (931)771-9070 - Clarksville, TN
The Dedicated Clarksville TN Realtor-(931)320-6730

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.

Feb 14, 2016 09:08 AM
Rainmaker
1,525,616
Sybil Campbell
Fernandina Beach, FL
Referral Agent Amelia Island Florida

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

Feb 14, 2016 09:00 AM
Ambassador
5,032,521
Jeff Dowler, CRS
eXp Realty of California, Inc. - Carlsbad, CA
The Southern California Relocation Dude

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

Feb 14, 2016 07:24 AM
Rainmaker
140,768
Joan Dickie
Keller Williams Premier Realty - La Crosse, WI
Keller Williams Premier Realty

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

Feb 14, 2016 07:23 AM
Rainmaker
4,850,663
Richard Weeks
Dallas, TX
REALTOR®, Broker

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

Feb 14, 2016 08:33 PM
Ambassador
3,727,581
Patricia Kennedy
RLAH@Properties - Washington, DC
Home in the Capital

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

Feb 14, 2016 02:12 PM
Rainmaker
5,772,353
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Jennifer,

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

Feb 14, 2016 02:02 PM
Ambassador
6,352,545
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Maybe your home neighborhood

Maybe an underserved neighborhood

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

Feb 14, 2016 01:36 PM
Rainmaker
1,498,148
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

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.

Feb 14, 2016 11:26 AM
Rainmaker
2,168,165
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

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

Feb 14, 2016 11:13 AM
Rainer
321,564
Melissa Jackson REALTOR
Trinity Premier Properties - Azle, TX
Helping You Make The Right Move

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

Feb 14, 2016 11:07 AM
Rainer
80,653
Linda Guess
Keller Williams Tri-Lakes Branson, MO - Branson, MO
Branson area real estate sales.

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.

Feb 14, 2016 08:23 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

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.

Feb 14, 2016 08:22 AM
Rainmaker
908,508
Jeff Pearl
RE/MAX Distinctive / LIC in VA - Lovettsville, VA
Full Service Full Time Realtor

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.

Feb 14, 2016 07:44 AM
Rainmaker
5,096,166
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

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.

Feb 14, 2016 09:19 PM
Rainmaker
556,286
Greg Cremia
Shore Realty of the Outer Banks - Nags Head, NC

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

Feb 14, 2016 08:47 PM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

An area close by where there is a good turnover.

Feb 14, 2016 08:39 PM
Rainmaker
5,190,916
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Turnover and lack of competition!

Feb 14, 2016 07:48 PM
Rainmaker
2,759,787
TeamCHI - Complete Home Inspections, Inc.
Complete Home Inspections, Inc. - Brentwood, TN
Home Inspectons - Nashville, TN area - 615.661.029

 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.

Feb 14, 2016 05:16 PM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

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.

Feb 14, 2016 03:22 PM
Rainmaker
4,898,962
Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Look at the turn over rate in the area.

 

Feb 14, 2016 12:36 PM
Rainmaker
1,237,270
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

> 5.5% annually in this area.

Feb 14, 2016 12:25 PM
Rainmaker
290,919
Allie Angeloni
Long Realty - Oro Valley, AZ

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

Feb 14, 2016 12:15 PM
Rainmaker
1,157,785
FN LN
Toronto, ON

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

Feb 14, 2016 11:56 AM
Ambassador
3,159,899
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

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

Feb 14, 2016 11:49 AM
Rainmaker
1,683,762
Larry Johnston
Broker, Friends & Neighbors Real Estate and Elkhart County Subdivisions, LLC - Elkhart, IN
Broker,Friends & Neighbors Real Estate, Elkhart,IN

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

Feb 14, 2016 11:46 AM
Rainmaker
2,373,114
Bob "RealMan" Timm
Ward County Notary Services - Minot, ND
Owner of Ward Co Notary Services retired RE Broker

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.

Feb 14, 2016 10:19 AM
Rainmaker
2,070,825
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL

My condominium

Nov 28, 2019 10:22 PM
Rainmaker
1,598,452
Valeria Mola
SIB Realty - Miami, Sunny Isles Beach - Sunny Isles Beach, FL
305-607-0709 SIB Realty Condos for Sale and Rent

What a great question and answers!

Nov 28, 2019 08:56 PM
Rainmaker
1,280,748
Donna Foerster
HomeSmart Realty Group - Parker, CO
Metro Denver Real Estate Assistant

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.

Sep 19, 2016 12:41 AM
Rainmaker
979,396
Troy Erickson AZ Realtor (602) 295-6807
HomeSmart - Chandler, AZ
Your Chandler, Ahwatukee, and East Valley Realtor

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

Feb 16, 2016 12:02 PM
Rainmaker
617,935
David Gibson CNE, 719-304-4684 ~ Colorado Springs Relocation
Colorado Real Estate Advisers LLC - Colorado Springs, CO
Relocation, Luxury & Lifestyle residential

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

Feb 16, 2016 11:17 AM
Rainmaker
5,848,364
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

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.

Feb 16, 2016 09:06 AM
Rainer
223,831
LUXURYSOCALREALTY COMPASS La Jolla
Compass - La Jolla, CA
San Diego Partner - The Private Client Network

The best farm has a high turn rate

Feb 15, 2016 05:04 AM
Rainmaker
1,839,786
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

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.

Feb 14, 2016 10:53 PM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

parked and reading

Feb 14, 2016 09:56 PM