If you love real estate then explore and research should be second nature.  In order, to find a niche that will work for you.  You must know yourself and then get to know your market.  Getting to know yourself is important because you need to understate what you will or will not do. 

In the REO world, there are alot of things you may encounter that may not be pleasant like eviction, trash out, etc.  You need to know if you can handle being the bearer of bad news by telling someone they have to more because the bank wants the home.  It takes a certain amount of both compassion and tenacity to do that. 

In short sales, it is equally important to be stern, but respectful when helping selling to sell their home in a short sale because most of the time the homeowner thinks they will get a profit in the sale of their home when in most cases it is not possible.  The possibly of profit from the sale is determine by how quickly the foreclosure is coming.  If the foreclosure is within 30 days then profit is not an option, but getting out from under the mortgage is. 

Develop a niche is not a specialty, but a gift that manifests itself sometimes in different ways, so keep your eyes and mind open and your niche may be in the next house you list or sell.

 

5 Comments on Finding Your Niche

MAR
01
2008
 I would have thought that the REO homeowners would have been waiting for someone to evict them, does that make any difference, or do they just get mad?
12:42am • #1
I just start to taking classes but I like real estate more everyday I'll be in contact Serena
12:46am • #2
i agree once you find your niche everything will fall into place, mean while its an adventure
1:11am • #3
1,242,529 Points 158 Featured Posts Outside Blog Called Shot Master
Serena, I agree with you about finding your niche - no matter what you do in real estate. I too am the bearer of bad tidings at times but not so much as working with REO's. Must be hard and you must have a think skin.
2:30am • #4
960,785 Points 21 Featured Posts Outside Blog

I just had a long niche conversation yesterday with an agent. This is critical for long term success!

Your Friend in Charlottesville VA!
8:20am • #5


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Serena Brown

Hammond, IN

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Taylor-Brown Real Estate

Office Phone: (219) 803-4489

Cell Phone: (219) 718-6376

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Educational Real Estate Blog located at www.taylorbrownrealestatetalks.com


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