turnover rates are found in mid- to low-class
neighborhoods. If you’re thinking about farming
in a high-class neighborhood, where the homes’
median market price is significantly above the rest
of the market, you may want to examine the
turnover rate of that neighborhood. Chances are
they don’t move too often. The ideal areas are
middle-class neighborhoods, which have a great
turnover rate and an attractive median sales
price—which I find is the best of both worlds.5.Your Competition.Do your homework on com-
petition in the area that you’re considering to
claim as your farm. You don’t want too much
competition in your farm area or you’ll be losing
some ground to them. If you live in the area that
you are considering to market as your farm, check
your mail to see how many competitive farm
mailings you receive. Sometimes you may get an
advertisement flyer from an agent but never see
anything from them again. This is typical. This
wouldn’t be considered competition. Those are
the agents that start well but then give up early, as
we discussed in Chapter 2. But do keep an eye on
the agents who mail your neighborhood every
month. If there are a few of them mailing consis-
tently, you may want to reconsider your decision
to claim that neighborhood as your farm. Ideally,
having little to no competition is the best sce-
nario.
The Real Estate Agent’s Guide to FSBOs