You know a tried-and-true form of prospecting for listings is geographic farming.

This is called farming because you have to cultivate the sale. It means you have to be patient and work your farm area with constant contact in order to reap the benefits! Contact by phone, text, mail, e-mail, and in person at least once a month.

I admit that geographic farming probably takes more time than before. Years ago, we knew our neighbors well. Today, we only know our neighbors enough to say hello. A farm area should be one with a good turnover rate in order for it to be worth the effort. Choose 200-400 homes at first and grow the farm gradually. Be the expert in real estate in your farm. Know the people, their kids, their pets, birthday, anniversaries... you get the idea. Drive through your farm in your car, and make sure that you have car magnets on the car that have your company name, your name and your picture on it. Stop if you see anyone in your farm and strike up a conversation. Before long, if anyone in your farm is thinking about real estate, they will think of you!

Always ask this question after any contact, “Who do you know that is interested in buying and selling real estate?” Soon you will get the people in your farm to recognize you as the expert and the referrals will start coming in.

If you would like more information contact me. I’m Ric Giumenta. You can have a good day or a bad day. It’s your choice.

Make good choices. See you next time!

The most misunderstood topic in real estate is Florida Law on Agency.

I’ve studied this topic since the first statutory law in 1994. It’s been changed and revised many times and thus the confusion.

It is a consumer protection law covering the disclosure of the relationship we have with our customers. There is a presumption of Transaction Brokerage unless we establish a different relationship in writing. Now, most of the companies are Transaction Broker companies by an overwhelming number; over 85%. Now there are two things going on; ONE: We have the job of real estate and TWO: the relationship we have with our customer. As Transaction Brokers we are all able to do the entire job of real estate. It’s HOW we do the job that is important. Transaction brokers provide facts, figures, and information; while Agents provide opinions and advise.

Now here is where the confusion is obvious. As Transaction Brokers, WE ARE NOT AGENTS! Sales associates are only agents of the broker, not the customer. So, we should avoid calling ourselves agents! WE DON’T HAVE CLIENTS! We have customers. The term client isn’t even defined in the law, and might create an unintentional agency. Courts have ruled that if it walks like a duck, acts like a duck and talks like a duck…It’s a duck. You can’t act like an agent and hide by saying you’re a transaction broker.

If you would like more information contact me. I’m Ric Giumenta. You can have a good day or a bad day. It’s your choice. Make good choices. See you next time!