Mastering the Art of Farming: A Guide to Selecting Your Ideal Real Estate Territory

May 13, 2023

Welcome to today's blogpost on the importance of choosing the right marketplace for building a fulfilling, financially abundant and successful career in real estate. This is the most critical piece of advice I can give you, and if you take nothing else from this blogpost, understand that your marketplace plays a massive role in your success as a real estate agent.

No business, product or service can be successful if the marketplace it is serving is wrong. Trying to build a real estate career in the wrong marketplace will drain your energetic and financial resources. The statistics speak for themselves, with a failure rate of 87% commonly thrown around in the real estate industry.

Many real estate agents flounder straight out of the starting gate simply because they are in the wrong marketplace, causing their careers to die a slow and frustrating death. There are 3 common reasons why new real estate agents choose the wrong marketplace:

  1. A manager in the real estate company they work with suggests or advises them to target a certain marketplace, without researching the potential for building a strong and financially abundant career out of that marketplace.
  2. The new real estate agent lives in a certain area, likes living there, likes the surrounding properties, and knows some of the people in the local community, so they think it makes sense to try selling houses in that area.
  3. The new real estate agent aspires to become a millionaire and thinks the only way to do that is to sell properties in an area with million-dollar properties.

All these mindsets make sense, but none of them make any business sense. In real estate, whether you are a brand-new agent or have been in the industry for a decade, you are running a business. If you don't get out there and get listings, you won't earn. If you want the financial abundance and freedom that a successful life in real estate sales offers, then you must understand that you are in a self-employed business.

To be successful in business, you must be strategic and intentional in your choice of marketplace. I understand that I am being direct in this section of the blog post, but please don't feel overwhelmed. There is a proven and easy formula to work out which marketplace is right for you to grow your real estate business out of.

When choosing a marketplace, it must be active enough to consistently list and sell houses, have a proven record of being an active real estate marketplace, and be large enough to grow in and small enough to consistently market to and dominate. I have linked a free 7-day trail to the Get Listings Bootcamp to this blog post, where on of the first lessons you’ll find is a lesson and worksheet where I break down the exact formula to find and target the right marketplace for you.

Do yourself and your real estate career a massive favor and make sure to watch that video right after reading this.

You also find lessons and daily coaching in the Get Listings Bootcamp app on to where in the right marketplace you will find seller leads that convert into successfully signed-up properties that sell effectively and result in you getting paid

So to wrap up this blog I do want to give you this little bit of encouragement when it comes to growing a successful and fulfilling real estate career.

Choose the right marketplace, be strategic and intentional in your approach, and always remember that you are running a business. With the right mindset and approach, you can build a fulfilling, financially abundant, and successful career in real estate sales.