Territory Management Blueprint
What is Territory Management
A focused farming strategy targets a specific neighborhood to generate leads and establish you as the local real estate expert. It's cost-effective, with one commission potentially covering a year?s efforts. This approach builds local expertise, client relationships, and consistent income.
The blueprint provides step-by-step guidance on selecting an area, gathering information, and executing the plan, helping you build a strong local presence and achieve sustained engagement.
Why Territory Management Campaign is Important
To succeed, real estate agents should focus on a specific area to become the local expert. This approach builds a strong reputation and generates steady leads through consistent engagement. While it may take a few months to see results, farming is a highly effective strategy and works well with social media and community events for comprehensive growth.
Lets get started.
10 Steps to Increase Market Share
Strategic territory management reshapes the tactical traditional model of farming, which allows you to bring in referral and repeat business quicker, establish brand awareness faster, increase and predict income in the short/long term, while ultimately establishing a dependable retirement source.
Farming Questionnaire
Step 1
Identify and research for strategic position opportunities; utilizing gap in sales price, time to sell, and percent from asking price by taking the Questionnaire.
Take Questionnaire
Step 2
Segment Territory By:
- Expireds/FSBO?s (10 Touch Program)
- Non-equity sellers (short sales, loan mods, REOs)
- Equity sellers (move up opportunities)
- Non-owner occupied (Investors)
- Renters (buyers) Quarterly Program
Leverage Expired Listings
Categorize current listings by days on market. Identify likely expire dates 10 days prior and include in upcoming marketing efforts.
Preview listings when the sellers are home (do not solicit listings).Make an impression on the seller and build rapport through a sincere compliment so that they remember you.In addition, send a handwritten thank you note via mail to the person you met.
Monitor all listings you have visited and keep track of the estimated expiration date.
The day the listing expires, immediately go to the door with an appropriate marketing campaign to set-up an appointment (i.e.Pre-Listing Book).
Leverage Expired Listings cont.
Set-up listing appointment (include listing presentation and updated CMA report) and make sure to review previous agent?s marketing and MLS information to identify voids and contrast through listing presentation with seller.
Step 3
Develop Skills:
- Roadmap disciplines of lead generation, follow up, and lead conversion
- Negotiations
- Market TrendsSM
- Hot Buys
- The New Rules
- Expired Listings
- Short Sales
- Pipeline
- Listing Presentation
Step 4
Market Using:
- Proprietary Strategies:Listing Lead Multiplier, Buyer Pipeline, Hot Buys, Listing Presentation
- Technology:Market TrendsSM , Market Edge (price correctly and position yourself as expert), and kvCORE
- Open House Discipline Mastery
- Create a sense of urgency to sell the listing within 30 days or less.Preferably 10 days
Market Edge
Utilize our Market Edge tool in conjunction with the ?Get More?marketing campaign to showcase an impressive stat such as 9% MOREaverage per square foot sales versus the market average or 20% FASTERin a specific city or zip code. This is a great way to drive your value and eliminate the competition.
Step 5
Market to the territory using Just Listed/Sold outreach and utilize new marketing campaigns. Highlighting our differential gaps in higher sales price, faster sales, and closer to list price to position you as the territory expert of choice. Money saving techniques include utilizing free downloads and dropping pieces as well as postage savings through EDDM.
Step 6
Get a second listing in your territory and follow steps 1-5 to make sure that you are creating comprehensive value and exposure to build brand awareness and acceptance for you as the territory expert.
Step 7
Be known as the local expert that cares by educating and helping within the community.Building credibility and goodwill in a community will support increased referral and repeat business.
Step 8
Once established in the territory you should consistently market using Simple Marketing strategies.
Contact a Marketing Advisor
Suggested Territory Drop Program
Weekly distribution of flyers, postcards, or door hangers to drop through FirstTeam?s Territory Drop Program. Utilize this monthly program to gather email addresses or advertise quarterly community events.
Territory Mailer Program
Three weeks a month of automatic mailers to your territory through the FirstTeam?s Territory Mailer Program.
Door Knocking Scripts
Access Script Here >
Time Evaluation
Digital Territory Toolkit
Welcome to our digital territory drop guide! This comprehensive guide is designed to give you a strategic edge with weekly eBlasts, blog posts, and social media ideas that will engage your audience and propel you ahead of the competition. View Here >
Step 9
As your dominance continues to grow you can enlarge your territory to include more homes and increase your earning potential preferably in adjacent markets.
Step 10
When the time comes for you to want to start pulling back and semi-retire, the company will help you find qualified agents whose values and practices are aligned with yours to continue your farm dominance and provide you referrals and a residual income for years to come.
NOTE:The company will help youensure that youhave put the termsintowriting for the successionof your territory management and that beyond a signature your successor continuesproactive and effective territorymanagement toensure younot only get paid but that market share continuesupward.
Comprehensive Repository
Transform your aspirations into achievements. The path to a thriving real estate career is yours to create.
