Ask Gitta: what does the term ‘farming’ mean in real estate?

Dear Gitta:
I keep getting brochures and newsletters from a real estate agent in our area that calls himself the “Area Farmer”.What does the term “farmer” of “farming” mean when it applies to real estate?

Gitta answers:
“Farming” is a term used by agents who specialize in a specific geographic area. They plant “seeds”, such as newsletters, just solds, just listed, open houses, in their geographic farm, over a period of time, with the hopes that seeds will blossom into listing i.e. homes for sale/solds.

They are visible to the residents of one area, with the intent of “harvesting” the available business there.

A number of years ago, farming an area was very important. Since it was virtually impossible for any one agent to be versed about each and every area of the city, they restricted themselves to areas where they could physically visit and inspect each property for sale, and get to know the residents. Their expertise was local, because the information available to them was limited.

What’s different today? Well, there are still “farmers”—agents who know one area and don’t sell outside of it-but with the sophistication of the data available tmembers of the local real estate boards today, through their computerized systems, selling or buying real estate outside of a geographic farm is not only possible, but very exciting! Professional realtors have access to the latest information as to what has sold, or not sold, how long it took to sell, the length of time the owners were living in the property, the upgrades, the size of the lot, how “saleable” an area is (or not), price changes—-everything to help a seller or buyer make the right decision. And now to add to our “knowledge bank”, VIRTUAL REALITY tours of the inside of the properties is the up and coming feature that the local real estate boards can offer to their members. As a prospective seller what should you look for in a real estate agent? If you feel comfortable with the “farmer”, then by all means choose him/her to sell your property for you—but now that you don’t have to limit yourself. When choosing a realtor to represent you, professionalism, market knowledge, marketing skills, good communication skills, an empathy for your specific needs, and a proven sales record are all important criteria in helping you make a decision.

Gitta Levi, Associate Broker, Century 21 Heritage Group
‘Specializing in the needs of Seniors’

Click here to ask Gitta your real estate questions