Another question to consider: what is the percentage of homeowners vs. absentee owners? A high renting community might require you to change your message to first time home buyers rather than listings. A confusing message will not reach the best audience. A message targeting first time home buyers that is sent to a farm of current homeowners will fall on deaf ears.
Farm turnover is an important statistic to consider. Farm turnover is the number of sales divided by the number of homes in the farm. A solid turnover rate is 8% to 10%. If you have 500 units in a subdivision, there should be between 40 and 50 sales in the past 12 months. To calculate farm turnover look at the tax records in MLS. This is a fairly easy calculation if you know how to manipulate spreadsheet data in the tax records. Track down the actual name of the subdivision you are targeting to farm. Using MLS, you will be able to see all of the homeowners and the sale dates of each property. From there, it is a simple sorting of sale dates to see how many sales occurred in the past 12 months. Divide that number by the number of homes in the subdivision and you have your turnover rate.
While you have every Homeowner on a spreadsheet, it would be a good idea to create a label template on a Word document. This way you can plan your mailings and print labels as you need them. I will be talking about a more cost effective way to mail to your farm shortly. There will be times you will want to send something via first class postage. While more expensive, it also implies a different type of offer. Another question to consider: does another agent have a strangle hold on this farm? If you live in this farm, it will be easy to determine… do you get mail consistently from one agent? Odds are your farm is not consistently farmed by anyone. I define consistently as once per month for at least a year.