If you look at the real estate market closely, you will realize that there are an unlimited number of options and paths you can choose to take to grow and expand your business. So, sometimes the question becomes, should you specialize in one area or should you provide an array of different services to your clients.
Well, generally specialization is preferred, especially if you are a smaller company with limited staff. Specializing gives you the opportunity become an expert in your field, and also given a limited advertising budget, you can target the exact group of people that you are catering to.
Diversifying is wonderful, if you have a staff of experts each in their own field. This way you can maintain a number of different services all within the company. I am sure customers will appreciate working with the same company on an array of transactions. Diversifying into a few different areas of real estate may get risky however, because you may be spreading yourself thin and with that to lack the professional expertise necessary to provide the best service that you can.
In times like these where companies see a decline in business, I see many real estate agents/brokers reach out to do property management, leasing, staging etc. I think that's great, but be careful and try and learn as much as possible before you start offering the service to the general public. After-all you would not want to tarnish the name of your long-hard-worked-for-success because of and additional service that you were lacking in professionalism and knowledge.
So, depending your desire to learn a new field within the real estate industry, I would encourage you to add other services to the ones you already offer, only if you are confident that you know what you are doing. Other than that, refer the business to someone who you know is going to do a great job.
I would rather the customer come back or refer someone to me for the one specialized service I offer, than to never come back because not all of my services were of exceptional value and provided excellent understanding.
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Against all the truisms out there I run a general brokerage (I do not specialize in a niche) and try to stay abreast of my sphere. I guess whatever works.