What is the term for working a market based on location?

The term "Geographical Farming" specifically refers to the practice of focusing real estate marketing efforts on a particular geographic area. This strategy involves becoming an expert in that location, which allows real estate professionals to build relationships, understand market trends, and effectively reach potential clients in that community.

When an agent engages in geographical farming, they typically utilize various marketing tools such as direct mail, community events, and localized advertising to increase their visibility and credibility in the chosen area. This approach is effective because it allows agents to leverage their knowledge of the local market to better serve their clients and enhance their business through targeted outreach.

In contrast, market segmentation relates to dividing a broader market into subsets based on various characteristics, which is a more general marketing concept. Property management deals with the operation and administration of real estate properties, and real estate brokering involves acting as an intermediary in transactions. While these concepts are essential in real estate, they do not specifically focus on the strategic targeting of a geographic area.