TECHNOLOGY
Bet The Farm
Realtors Property Resource tools contribute to the certain success of your farming strategy
Realtors Property Resource, a data
platform offered as a free member
benefit to all REALTORS®, provides a
streamlined, single source of info and reports
that fulfill every aspect of a successful
farming campaign.
Here’s five steps for creating a neighborhood
farming strategy utilizing the resources
within RPR:
1. CREATE A CUSTOMIZED FARM AREA
USING RPR SEARCH TOOLS AND
MAPS
RPR search and map tools provide a
start-to-finish approach to identifying
and then researching your farm area. No
guesswork required; no need to pull from
multiple sites to cross-populate your data.
Beginning with RPR maps, you’ll use a ZIP
code to map neighborhood boundaries or
draw a customized target area based on
market expertise and preferences.
RPR’s heat maps will also reveal whether
values in your farm area are increasing
or decreasing over time, as well as the
12-month change in estimated values, list
vs. sales price, the density of distressed
properties, and more.
2. CALCULATE THE MARKETABILITY OF
YOUR TARGET ZONE
You’ve chosen a potential farm area
using RPR maps. Now, turn to the data
within RPR to determine its turnover rate,
a.k.a., how often homes are selling in your
targeted area. According to the National
Association of Home Builders, the average
homeowner plans to move every 13 years,
with younger first-time homebuyers relocating
slightly more frequently. In general, you
want to select a farm area with a turnover
rate around 7 to 8 percent. (An interactive
worksheet available on the RPR website will
auto-calculate your area’s turnover rate.)
3. CONVERSE WITH HOMEOWNERS
USING RPR MOBILE
RPR Mobile™ is an app for use when
walking your neighborhood. With your
phone or tablet in hand, the app quickly
displays each home in your farm area and
relevant facts you’ll need to take your interaction
from introduction to conversation to,
possibly, a commitment.
Info on each home provided by the
app (among hundreds of other data sets)
include:
• Owner’s name;
• Home’s status;
• Property’s details;
• Estimated values and sold price;
• Distressed information; and
• Mortgage history.
The home data provided by RPR Mobile
™ can be utilized as an icebreaker as
you’re getting to know homeowners while
canvassing neighborhoods: Offer a comp
analysis and estimate based on RPR’s valuation
model!
4. CONVEY YOUR VALUE TO FSBOS
With more than 35 percent of FSBO sellers
opting to use yard signs as their primary
source of marketing, canvassing agents
using RPR’s vast repository of public records
can instantly pull up data needed to spark a
conversation:
• Homeowner contact information;
• Mortgage and tax information;
• Distressed data;
• The property’s physical characteristics;
and more.
With the RPR app at hand, ask the
homeowners how they arrived at their list
price, and whether they’d like to compare
that value with RPR’s valuation model. Offer
to provide a property report, neighborhood
report, or comparative market analysis right
from your phone.
5. CULTIVATE BRAND AWARENESS
WITH REPORTS THAT PIQUE HOMEOWNER
INTEREST
Most homeowners you encounter while
canvassing will want a takeaway. Bring all
of your farming efforts full circle by letting
homeowners know you have a full arsenal
of customized reports at your instant
disposal.
Right there at the curb, offer to e-mail
or text a property report or market activity
report, which provides changes in actives,
pendings, solds, expireds, and distresseds
(including recent price changes). Neighborhood
and school reports are also popular,
as are comparative analysis and seller’s
reports. Here’s where you can even take the
opportunity to let your prospective clients
know that you have the ability to refine
the value of their home based on improvements
made.
Learn more at narrpr.com.
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