Realty Blogging did a fantastic job at opening up and presenting the world of niche marketing, and it's contrast to mass marketing.   "The problem today is that people are being inundated with disruptive, uninvited messages that they don't even remember them, much less respond." (pg.105)

 Coming from a generation that grew up "on" television, I have seen a lot of advertising ... After a point, it all becomes white noise.  Now that we have the internet as a permanent fixture in the scenery, mass marketing has really expanded. At least the internet offers pop-up blockers! (Too bad there aren't pop-up blockers for other parts of my life...)

What I am getting at is this ...
Mass marketing has gotten so ineffective that it has, by default, been pushed into the realm of entirely too obnoxious, thereby forcing us to build our lives around avoiding it!
... TiVo ... Satellite Radio ... MP3 players ... pop-up blockers ... city sign ordinances ...etc.

But we are in a business that demands marketing, so what do we do?
Well, let's first analyze WHY mass marketing doesn't work, shall we? Ok.
Consumers know that they have too many choices to be lead by ...one.  Being everything to everyone is no longer an option.  Even Wal-Mart, the king of the "everything concept" can't be everything to everyone. There are plenty of people who avoid national chains in favor of local businesses. So, if Wal-Mart can't be all things to all people, why should YOU try? ... The answer? You shouldn't.

Then, what do we do if we are not mass marketing?
Niche Marketing is the answer. Now, I say niche like this: N-Itch, whereas Mary McKnight says it like this: Neeshe (like "quiche"). (She is probably correct, but I like my way better ... it makes more sense with my title...) However, it is not the pronunciation, but the theory of Niche Marketing that is important.

What is a niche?
A situation or activity specially suited to a person's interests, abilities, or nature. (<- That comes from Dictionary.com) How do I define niche? A niche is a special pocket of the market- be it a neighborhood, demographic category, type of property, etc -that you are THE EXPERT on. (Not AN expert ... THE expert.)

How do you find your niche?
According to Realty Blogging (p.107), Dr. Ralph Wilson asks, "What are you good at? What do you enjoy? ... What are your strengths?" (<start sales pitch>Please note: The list of thought provoking questions goes on and on, so if you would like them ... buy Realty Blogging today!</end sales pitch>)

Examine yourself. No, really. Do it.               

This book gives a detailed peek into many different types of niches. Here are a few to chew on...

1. Are you a member of a specific demographic whose real estate market potential is seriously undervalued? Tim O'Keefe is quoted in Realty Blogging with his findings regarding 2 specific demographic "niches" - The Hispanic community and the Gay and Lesbian Community. Both communities have some serious home buying power, yet neither one is really being marketed to.

And what about demographical generation, or age-based niches? We know that Baby Boomers are a part of the largest transfer of wealth in our nations history - inheriting billions of dollars from their parents. We also know that Generation X comprises more home buyers than Boomers and are now buying their second and third homes. Even Generation Y is starting to buy their first homes!

There is SO MUCH opportunity for niche building within the demographic scope.

2. What affiliations do you have? Are you a member of an organization where you can be the go-to person for all things real estate? PTO/PTA? Your church, synagogue or other place of worship? (<start bad joke>If you happen to be the only Realtor® in your Catholic church congregation, this would be the only place where you could get away with "mass" marketing ... har. har. har.</end bad joke>)

3. What is your property knowledge base? Do you have a knack for finding investment properties with great ROI potential? Have you always been successful in the second home market? Do you have a wealth of information about updating, preserving or restoring older homes, the troubles to look for, etc.? If so, a property-type niche would offer an abundance of opportunity for business.

4. Of course, there is always the geographical niche. Realtors® have fondly coined the term "farm" for this particular niche. Many people have become hugely successful by becoming THE expert of a specific community (area, neighborhood, school district, development, city/township, etc.). Broker Bryant and his Poinciana Properties niche is a perfect example.

Ultimately, mass marketing is going the way of dial-up internet connection... although it is still used; it is NOT the way of the future.

Ok. I know ... This is all super information, but what does it have to do with blogging?

Answer:   Everything.
Once you define your niche, a blog gives you a "live" platform to deliver, to your niche, everything they want to know ... everything that is important to them ... and, most importantly ... a perfect opportunity to establish yourself as THE EXPERT.

For those of you who are just now jumping on the Realty Blogging bandwagon, please take a few moments to read the first 5 posts regarding this book:
Review # 1 by Carole Cohen I Think Therefore I Blog: Realty Blogging Says Be a Groundbreaker...Blog Now!....Review #1 
Review # 2 by Mariana Wagner Your Blogging Voice... Where is it? (Realty Blogging Review #2)
Review # 3 by Ann Cummings So Far to Go, So Much to Learn........ (Realty Blogging Review #3)
Review # 4 by Ines Hegedus-Garcia  Branding through Blogging (Realty Blogging Review #4) 
Review # 5 by Monika McGillicuddy   Become an Expert by Building the Relationship..(Realty Blogging Review # 5)

 
Post is included in group: Realty Blogging Book Club

40 Comments on Have a Niche? ... Scratch it! (Realty Blogging Review #6)

DEC
11
2006
110,135 Points 26 Featured Posts Localism Sponsor Outside Blog
You have outdone yourself Mariana. This is one of the main points in the book and you covered it so well; I truly thought they covered niches better than some non-blogging books!  Superlative, really!  I thank you for the post, and for such a wealth of information here. :-)
5:05pm • #1
262,165 Points 67 Featured Posts Localism Sponsor Outside Blog
Thanks Carole! I agree... Niche Marketing is more than a BLOG thing, it is a business thing, which this book did such a great job explaining.
5:07pm • #2
18 Featured Posts

what a queen!.. YIKES!!! not you Mariana.. this is NOT you.thanks for this post, Mariana. you are the niche queen. BTW, <start praise> Love the way you do that HTML tag looking thingy! cool! </end praise>. hee hee.

very good points.. i could use this advice!. I guess there is yet another book to read., after I get through that list of posts you mention & those other books that are waiting to be read. hhmmm can we read 10 pages per day, from each of the 4 books waiting on the desk? not sure.. should try. bye bye. :)

 and yes.. there will be a 'before' and 'after' picture!!

5:25pm • #3
262,165 Points 67 Featured Posts Localism Sponsor Outside Blog

Thanks Nick! I am a dork (that's a facet of my "voice") so the HTML tags made me laugh ... and I love to laugh ...!
C'mon! You mean to tell me that you dont have all the time in the world to read everything?!? ...I'm so disappointed in you! (j/k)  :) At least remember the book and get it and read it when you have more time. It is worth it!

6:09pm • #4
259,173 Points 38 Featured Posts Outside Blog

Awesome Mariana...I loved it!  I wanna be just like you when I grow up..you have such a lovely voice!!!

I loved that chapter of the book...niche marketing...here I come! 

LOL...Nick what ya do to the poor queens teeth?

6:09pm • #5
402,223 Points 72 Featured Posts Outside Blog

"Oh! Look! A Butterfly! aka Mariana"

Really Really Good. Excellent. You are very good at summarizing the Chapters. Nice Work.

I love the niche. Know what else?

The best way to locate that niche is to think "outside of the box"

Now. Could you please scratch my back. I can't reach my niche. :)

TLW "The Lovely Wife"...Thank You For Going The Extra Mile...ROAR!

6:32pm • #6
316,845 Points 45 Featured Posts Outside Blog

Mariana - FABULOUS summary and I love the way you inserted your jokes!  I thought they were funny and added to what your points were.  Love your "N-Itch".  ;-)

Nick - what on earth happened to the Queen's teeth???  Yuk!  Gross!  Bring on the 'after' picture quickly!!

Ann

7:17pm • #7
18 Featured Posts

put yer hands up!Hi Mariana.. put your hands up. this is a hijack. :)  or a mini jack at least. Hey can we get a low-jack for our blogs? Dont put down the dorks.. I'm a geek member for life! (that includes dorks, dweebs, etc, too) Part of the hardcore, surfer style, tattoo maker, calculator toting, philosophy geek. yoo hooooo!
TLW cant reach her n-itch. Funny. I never saw a butterfly scratch an itch before!
Ann, the before/after is about a future haircut.. no polite to post a link., this mini-jack is enough. but you shall see. just have to watch closely in the near future.
Hey Mariana, are there boxes? hmm I never noticed. ;) Ok, you have 1 mini-jack credit to your favor on my blog! :^P

7:55pm • #8
212,327 Points 56 Featured Posts Outside Blog

Mariana - What a great post!!  LOVED the title!  You are so great at portraying your humor in your posts it makes you want to want more!!  You hit the nail on the head with Niche Marketing - I'm a little behind with the reading, but know I'll have a question and WILL come back to you.

BTW - I didn't think the blog was long at all, where did you get that from?

8:25pm • #9
402,223 Points 72 Featured Posts Outside Blog
Yah! And you guys think I'm nuts. Read Nick! He doesn't even know about the boxes. LOL...TLW...ROAR!
8:53pm • #10
18 Featured Posts

yes..TLW..(you appeared.. i was wondering where you were.. the malls are closed!) sometimes that is the issue. I don't see any boxes. Sure people put me in their boxes, but I don't see myself in one. Maybe I'm in a box of my own? In the 'no-box' box perhaps?  hhmmm.. The invisible box? this can be problem for such a place with so many rules. No NOT the rule box!

Butterfly, 9 minutes, 3 minutes.. click.  now you have 2 mini-jacks to your favor!

9:06pm • #11
262,165 Points 67 Featured Posts Localism Sponsor Outside Blog

Nick- Sorry for the JACK IN THE BOX on your post (gonna go fix that...)- feel free to hijack/low jack/ whatever any of my posts... I'm still learning about the whole BLOG-Manners thing ... Am I supposed to type with a dessert fork? If so, I can then lend it to TLW to scratch her niche! - Oh, and... I love dorks .. I have always been one, myself, so it's all love to me!!  And I agree... What box?? I don't see no stinkin' box!!

Monika & Ann- Thank you!! (and I have NO idea whats up w/ the queen's teeth ...)

TLW- Thank you! I will loan you my dessert fork when I am done typing with it ... you can scratch your niche, then you can draw a box in the sand and show Nick how to avoid it!

Ines~ Thanks! I believe that it was definately one of the best chapters in the book. I actually took out some of it - After I started typing, it got a bit convoluted, so I shortened it a bit...

9:21pm • #12
10 Featured Posts
I do hope that you two got in on the community blog for COS
11:08pm • #13
9 Featured Posts

My two cents on this one, is that this is perhaps one of the most important parts of the book.

As in any type of marketing, if you have a personal advantage in a niche... use it. There are so many niches that realtors ignore on a daily basis, everything from church groups, maximizing contacts with people who have kids in the same school, actually living in a community, etc. 

I have a friend who is laughingly the "sports team realtor" that joins every sporting team he can, just so he can make connections and farm his teams. He loves the sports personally, but he also uses them professionally.  

11:46pm • #14
262,165 Points 67 Featured Posts Localism Sponsor Outside Blog

Harper Team- Thank you for the heads up ... Where is it?

Barry- Thanks for you 2cents... It is always so nice when you read what I write, and leave great comments! I agree - I had "dibs" on this post quite awhile ago ... niche marketing IS so important.... and the Sports Team Realtor ...priceless!

11:55pm • #15
DEC
12
2006
402,223 Points 72 Featured Posts Outside Blog
That cracked me up. I think it's a better idea not to show Nick the boxes. Who the hell wants to be stuffed in a box anyway? Nick. Don't look for the boxes. There are in fact rules in those boxes sometimes it's just better just to say "Hey no on told me about that rule". LOL...TLW...ROAR!
7:39am • #16
DEC
13
2006
188,681 Points 18 Featured Posts Outside Blog

I don't have a niche. What's the advice for that...? I could make a list of all that is me...let's see

Real Estate Artist

Real Estate Counselor

Real Estate Mentor

Real Estate Mother

Real Estate Wife

Real Estate Cat Lover

Real Estate Geneologist

Real Estate Political Maverick

Real Estate Loyal friend

Real Estate Lover of Houses

 

Okay, great review Mariana. You are very creative and your niche is actually starting to be your blogging!

9:21pm • #17
188,681 Points 18 Featured Posts Outside Blog

Oh, I forgot a few

Real Estate BPO Queen

Real Estate REO Rat

Real Estate Insurance inspector

Real Estate Virtual Tour provider

Real Estate Web Hoster

 

No wonder I am tired.

9:23pm • #18
DEC
14
2006
262,165 Points 67 Featured Posts Localism Sponsor Outside Blog
Karen! Um ... YOu sure wear a lot of hats! Now, what do all these have in common? What is the one thread that binds all/most of these? THAT would be your niche... This may take awhile, but I believe that there IS a common thread.
10:30am • #19
188,681 Points 18 Featured Posts Outside Blog

Marianna, If you see one "other than Real Estate", let me know:)

11:19am • #20
262,165 Points 67 Featured Posts Localism Sponsor Outside Blog

Ok. You seem to really care about many things. You obviously have a passion for anything that you put yourself into, right? I see you as extremely loyal, in whatever you do. Right?   Do any of these have affiliations that you could market to?  Some of these, I see as more services that you provide, rather than niches, like virtual tours, etc.

Out of what you mentioned, I see niche possibilities in the following areas:

  • Politics: Your affiliations and causes you support -market to the people who stand where you stand. Go to the rallies and market yourself. Find all the ways that you could link politics and real estate - there are plenty. keep them updated on all political going-on's in a monthly RE newsletter ...?
  • REO- I do not know much about this, but Im sure there is a way to build a database of people (buyrs/sellers/investors) that you can market to regarding REO ...?
  • Insurance Inspector- All the clients that you have ever inspected for, keep them updated on insurance info in your RE newsletter?

These are just a few ideas ... My favorite is politics. THere is a lot of potential, there. Also, most people who are involved in politics are going to be "better" buyers and sellers, anyway.

11:35am • #22
188,681 Points 18 Featured Posts Outside Blog

TLW,

I don't know if RRR can be considered a niche:) But as soon as it becomes one, I'm in!

Mariana,

Thanks for putting so much thought into this! I am a Capricorn, I was just telling my husband last night that my best trait is Loyalty (which is good for him, yes?)

While I enjoy the political part...I'm not sure if that is something I should "mix"..Seeing as there are usually many differing opinions and I try to market my Real Estating (I am coining this word) to everyone.

REO...I am into that because of monetary value and nothing else! Yes, you're right, I am meeting investors and all sorts of people. Even my boss tells me it's my niche! But...I hate telling people to leave their homes. It goes against everything I stand for! However, this is probably where I will shine and maybe I should just go for it..Sooner or later I may be able to mix and match homeowners somehow?

Insurance inspector..These are all people who have just recently built or bought a new home. They are all pretty well set with a Realtor for the time being. I'm just in there to see how much their homes are worth. I do tell them that my "other job is a Realtor", but I have been doing this for 3-4 years and no bites.

I guess, what I would like my niche to be are two other things...First time home buyers..I love them! And I really can help them.  The other is Coastal Neighborhoods. I know all the Coastal properties here and have a great affinity with the water, but the market is pretty tied up. 

Okay, after all this yapping, I think I should concentrate on the 1st time guys...It doesn't mean I can't sell a vacation home here and there. Thanks for letting me think on your blog!

2:11pm • #23
9 Featured Posts

Karen- I tell this to all my friends in the need to focus on a niche.

Take all of those categories you mentioned and rate them. Be honest. Write down how much business each one of those groups has earned you in the past twelve months. You have a great number of things there- 15 of them. 

Next to each one, write down the $$$ figure it has earned you. 

Once you are done, rank them from largest to smallest. 

Now do the painful part... and whack off the bottom five. You don't need to completely get rid of those parts, but they are not connected to your core business. To build a strong foundation, you need to focus on the top 75% of your business. The few categories that may occassionally give you a lead are not worth spending your effort on.

Think of it like this. If 75% of you income comes from 10 of those categories. The other 5 categories are worth less than 5% of your annual effort. If you spend $100 developing a %5 category, you are effectively reducing the effectiveness of your ad marketing effort to 1/20th of your business.

The only time you should focus on the smaller category is when you have made the business decision to focus on that category and grow it into a bigger category. 


I hope that makes sense. :)

4:23pm • #24
212,327 Points 56 Featured Posts Outside Blog

Barry - you have given us such an awesome tool - I am doing the exercise right now.  you DA man!

Ines

4:30pm • #25
188,681 Points 18 Featured Posts Outside Blog
Barry, Thankyou. I am going to do that and see what I end up with. Although some of the things are not money ranked, ie wife and mother! :)
8:32pm • #26
262,165 Points 67 Featured Posts Localism Sponsor Outside Blog
Barry- That is a great, methodical way to approach this! It kind of fits into the 80/20 rule ... Thank you for all of your input. And, yes... it makes perfect sense!
8:58pm • #27
DEC
15
2006
9 Featured Posts

Mother...

Wife....

 You jest? Not money ranked?

I bet they are. Do you use those parts of your life to market yourself? I know a good number of real estate agents who network at schools and sports teams for thier kids. Being on the schoolboard is an amazing way to entrench yourself in the community and make great contacts.

Likewise the wife category .... I could jokingly say that wives are always money related (LOL, ladies are so darn expensive!), but I also know several realtors who use being married as a networking tool. I'm sure your husband has a few social assets you can occassional take advantage of to help with real estate. 

Thinking about your time from an "out of the box" perspective can greatly help you figure out what categories make you $$$ at the end of the year.  

 

12:01am • #28
402,223 Points 72 Featured Posts Outside Blog
Karen. Has someone in your area started Blogging on AR. I was under the impression you represent R.I. here on AR. :) Let me know now I am curious. TLW...ROAR!
2:02pm • #29
188,681 Points 18 Featured Posts Outside Blog

TLW,

Yes, amazing, no? Rhode Island is a little slow, but when they get going Watch out! 

We are not as small as everyone thinks:)

5:58pm • #30
402,223 Points 72 Featured Posts Outside Blog
Karen. Ahhhh. You have competition now. :) Amazing? Yup. Forgive me I am tired this evening. Long Long Day. TLW...ROAR!
6:52pm • #31
262,165 Points 67 Featured Posts Localism Sponsor Outside Blog
Competition breeds excellence in most cases. Call on your inner excellence ... And may I quote someone we all know? Ok ... "ROAR!"
10:05pm • #32
188,681 Points 18 Featured Posts Outside Blog
I'm not worried. I would love to see some Rhode Islanders on here. I feel so alone...:(  I started a Rhode Island Group and I'm the only one in it!...
10:08pm • #33
262,165 Points 67 Featured Posts Localism Sponsor Outside Blog
Oh No!! I would love to join it ... but, alas! I am a foreigner.
10:11pm • #34
188,681 Points 18 Featured Posts Outside Blog
Thanks, but probably would look kind of funny. Coloradian in Rhode Island!! It's okay, though, still a marketing tool.
10:33pm • #35
JAN
20
2007
5 Featured Posts
Mariana- great review of RB. I just finished the book last night. Last October I identified my niche and this year I am developing it.  I think once a person has a niche, a brand, and a plan there is no holding the person back! :) 
3:25pm • #36
JAN
22
2007
673,598 Points 145 Featured Posts Localism Sponsor Outside Blog Hit Router

This series has been terrific, and this post in particular. I finally got the book and have started reading, so I will use the chapter posts as summaries after I complete each one. Amazing amount of information in that book - I suspect this will be something I pick up to reread numerous times.

Jeff

9:18am • #37
262,165 Points 67 Featured Posts Localism Sponsor Outside Blog

Debi- Good Luck with your nich goals!
Jeff- Yay! I loved this book and have already referenced it several times. Glad you are enjoying our posts!

12:45pm • #38
JAN
24
2007
143,660 Points 7 Featured Posts Outside Blog

Mariana,

Thanks for the post. As well as for providing the links for other posts on the subject.

4:14am • #39
262,165 Points 67 Featured Posts Localism Sponsor Outside Blog
William- Thank you for stopping by. I hope that this was helpful. I loved the book.
10:08am • #40

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Mariana Wagner ~ Colorado Springs REALTOR®

Colorado Springs, CO

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Wagner iTeam -Keller Williams Hope Realty

Address: Wagner iTeam ~ Keller Williams Realty, 12 E. Kiowa St., Colorado Springs, CO, 80903

Office Phone: (719) 434-7525

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