The Secret to More Effective Real Estate Farming

The Secret to More Effective Real Estate Farming

Door-to-door canvassing has long been a marketing tactic used by real estate agents to farm their market for leads and new contacts, but the pandemic ground it to a halt. Naturally, many agents are lamenting over the fact that this tactic won’t be feasible for some time. But in reality, this is fantastic news for real estate agents. Door-to-door canvassing is one of the most inefficient real estate farming tactics, eating away at your time when there is more pressing work to be done.

So, what else can agents do? Unsurprisingly, there’s an effective online alternative: hyper-targeted prospecting. Many agents have ignored targeted advertising in favor of casting a wide net with traditional tactics. But the pandemic has proven that it’s time to evolve and embrace alternative solutions.

There are powerful digital tools that make real estate farming easy and effective, like Homesnap Pro’s Likelihood to List.

Real Estate Farming with Likelihood to List

With door-to-door canvassing, you don’t know what to expect as you walk from house to house to find seller leads. You’ll be faced with unanswered doors, discover that some properties aren’t owner-occupied and receive numerous “no thank you” replies. The same is true of cold calling. Not all wide nets catch an abundance of fish.

You’ll experience more successful outcomes and less time wasted when you’re targeted about who you approach. Likelihood to List gives you the information you need to do just that. It uses expanded homeowner data and predictive analytics to reveal which properties are most likely to go on the market in the next 12 months, and all Homesnap Pro agents have free access as an MLS benefit. 

How It Works

Our team of data scientists created an algorithm that uses hundreds of data points and market trends to determine how likely a property is to be listed in the next 12 months. We integrated the algorithm with Homesnap Pro’s area map to make it easy for real estate agents to view the results for their farm area.

Take these steps to test drive the Likelihood to List tool yourself:

1. Zoom in on your farm area

Type a zip code or neighborhood name into the search field to isolate your real estate farm area. Then select the All Homes option and choose the Likelihood to List heatmap.

Off-market properties will be color-coded according to whether they are Most Likely (orange), Likely (yellow) or Least Likely (blue) to be listed in the next 12 months.

2. Isolate Most Likely and Likely properties

Deselect Least Likely from the toolbar so you have a view of the properties that are the most deserving of your attention. You can click into the listing page of each to see the key factors our algorithm used to determine its ranking. Additional mortgage, tax, deed and property history details are also available, to provide a complete picture of the property in question and make agents better equipped to have well-informed conversations with homeowners.

3. Reach out to targeted prospects

Now it’s time to decide who to send a targeted, personalized message to. In Homesnap Pro, property listing pages also contain homeowner profiles, which provide contact information such as email address and phone number, including a flag if they are on the National Do Not Call Registry. Homesnap Pro+ members are able to access additional demographic information about homeowners, when available.

Three steps—it’s that easy!

Likelihood to List has changed countless agents’ approach to real estate farming. You’re no longer required to leave the office or spend hours on dead-end leads. Instead, you can send personalized emails, make targeted calls or trim your postcard list to the most attractive prospects. Even if you do want to knock on doors for a face-to-face conversation when it’s feasible again, you can do so in a targeted way that makes good use of your time. Go to your Homesnap Pro account to try Likelihood to List today!