Building a Niche in Real Estate
There is a lot of talk about Niche Marketing. I think it is really important to develop a Niche as a way of building credibility and establishing a position as a Realtor. I think it is most important for newer agents and us smaller brokers. This is the way people will notice us.
A niche can be a geographic area, a home type, a buyer type, or a seller type. Try to match your niche to your personality. I have always felt I am not a great sales person, but am more analytical. I began to blog and niche market to Investors as a felt my analytical skills would be more appreciated by Investors – They are.
Hyper-local is a great way to blog and build your niche, but it is not the only thing you need to do. You need to understand your niche. As I was developing a niche among Investors I went and read up on Real Estate Investing. There is a lot of really bad stuff on Investing out there published by shady people (I think). I went another direction. I focused on numbers, laws, and the reality of the market and how to negotiate it. I made what I had to say readable with lots of examples.
I did a book on real estate investing that I push a lot. The only problem with the book is I have learned so much more sense I wrote it. I get several request a week for the book and it brings me clients. I am going to have to find the time to update the book.
The other thing about a Niche is you learn to talk the language of your client. How to address their concerns. How to educate them. I am a much better sales man while working my niche. You begin to understand the concerns of your clients much better. When your client sees you understand the Niche they will be loyal and recommend you their friends.
One thing I have heard many people say is to be focused in Real Estate. To some extent I think this is true. However, you should have several Niches. Not every niche is going to be working at one time and it takes time to really develop a niche.
Pick you niches based on your skills and knowledge, where you think the market will be hot, and if you can spot an under served area this can be a great niche.
Remember “Rome was not built in a day.” Build your Real Estate Empire one niche at a time.
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