Tag Archives: Florida real estate

Does Farming Actually Work In Real Estate?

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In my pre-licensing classes at Demetree School of Real Estate, farm area is probably the first vocabulary word I teach.  On day one, within the first hour of class, they learn that a farm area has nothing to do with agricultural.  Rather, it is a residential prospecting technique where the real estate agent specializes in a particular neighborhood.  I give an example, and the students usually chuckle in disbelief.  Someone always asks, “Does that actually work?”

It works like a charm.  It’s not exactly the fast path to success, but there is no such thing as a fast path to success. 

I have several Realtors who farm my neighborhood.  I probably get half a dozen postcards a week from different real estate agents.  I get Just Listed postcards, Just Sold cards, football schedules, soccer schedule, you name it.  I usually give it a quick glance, then because I’m a real estate instructor, I put it in a folder to use in class.  If I weren’t an instructor, I’m sure I would toss them.

The front and back of a farming postcard I received. It includes the name, phone, email or the real estate agent plus a customized link for me to get more information.

So the other day, our local Realtors Association sent out the ballots for the board of directors.  I recognized one name, not because he was student, not because I’ve done a deal with him, not even because I’ve ever met him in person.  I recognized him because I’ve been getting postcards from him. 

I haven’t voted yet, but in elections, whether it is for the local Realtor Association or United States Congress, the biggest hurdle is getting people to recognize your name. This guy that has been sending me postcards for a year has overcome that hurdle.

So yes, farming absolutely works. But just like farming the land, it’s not a quick fix. It takes a while.

This Man Learned The Hard Way What “Caveat Emptor” Means

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Recently, a piece of land was for sale at a tax deed auction in Broward County.  A man looked it up on the property appraiser’s website and some other public sites and found a photo similar to the one here.  He bid in the auction and snagged it for $9,100.  Here’s the kicker… he did not win the duplex.  He did not even win one of these villas.  He won the piece of grass that divides the two driveways.

Caveat Emptor

This photo from Google Earth shows what the man bought. He didn’t buy the house – he bought the strip of land in between the two driveways.

In one of those only-in-Florida situations, somehow this strip of grass is separate from the two villas.  The new owner is calling it deceptive and wants his money back.

I’m going to assume this guy never went to real estate school because one of the things I teach is that the rules of a tax deed auction or a foreclosure auction are “caveat emptor,” which means “Let the buyer beware.”

If you ever have a buyer who wants to skip the title search, this is why they need to do it.  In real life, you have to get a title search because the mortgage company requires it.  But if a person were paying cash, they could skip on the title search.  Here’s a good story about why the title insurance is worth it.  You want to be sure you are getting a house instead of a strip of grass with two mailboxes.

If you ever bid on a tax deed auction, or if you ever take the Florida real estate sales associate exam, be sure you know what caveat emptor is.

If you are interested in going to real estate school or getting your real estate license to ensure you don’t make a mistake like this guy, you can find me at Demetree School of Real Estate.