What makes a real estate professional an expert? According to the new book "Outliers" about 10,000 hours of practise. For a Realtor though there are so many areas in which to excell. Paperwork, sales, marketing, negotiations, residential, commercial, etc., etc.
Well with so much to focus on how could you become an expert? What is your niche?
The long tail theory would say there are huge opportunities at the extremes of any market.
With the advent of extreme specialization within any and all industries the jack of all trades is a rare person and might even be impossible. When I see a Realtor stating in their marketing that giant list of all they can do I wonder how effective they are at it.
Specializing in Residential, Commercial, Industrial, luxury homes, starter homes, first time home buyer, trading up, this nieghbourhood, that nieghbourhood...like really! It's too much to be the expert in all of it.
You're shooting a shot gun with bird shot.
What might be a better approach is to strategically partner with other realtors where each of you specializes and focuses on an area providing a deeper value to each other and sharing clients to better meet their needs.
As an Investor I'd like Realtors who understand the value of negotiating VTB's in the marketplace. Whether representing a seller or a buyer. It is the difference between controling a deal or having a deal control you.
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