What real estate agents should know about prospecting in a low-inventory world

  • Find a farm by asking yourself where you want to operate, what areas you know already and where you'll have the most (or least) competition.
  • Nurture your sphere with a combination of social media and email tactics, plus old-school ideas that work -- door-knocking and direct mail among them.

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Prospecting for listings involves two major factors: Nurturing your sphere and tending to your farm. Some real estate agents might think that even considering a farm in a low-inventory market is counter-intuitive. “Agents are scattered all over the place because inventory’s so low that you have to go where the money is; you have to take buyers wherever they want to go and take listings anywhere,” said Stacie Staub. However, ignoring the benefits of a farm is a short-sighted philosophy.