Discover The Sand Between The Marbles!

By
Services for Real Estate Pros with Napa Consultants

If you have followed our blog, you know that we are proponents of niche marketing.   Our mantra for challengers of market leaders and rising stars has been, discover and dominate an under served market niche. It is one of the first items we address, when we start working with our clients. 

 

No one person or company can do it all and do it well, regardless of his or her claims.  In looking over agent and company profiles, we are always surprised to find how many specialties they list for themselves from REO to commercial and industrial real estate.  And, the worst statement is when someone says, “I will sell anything that can be sold!’’

 

A niche is specialized market segment or a particular market “space”.  An example of a niche in luxury real estate would be historic homes. When we were in commercial real estate in Beverly Hills we specialized in high-end retail and the entertainment industry.  One of our jobs was to find potential tenants for retail stores and shopping centers that we represented exclusively in the Beverly Hills Golden Triangle, or surrounding areas.

 

We found an excellent analogy for niches by Ray Wert on his Jalopnik.com blog.  He referred to niches “the spaces between the marbles in a Mason jar that is full of marbles”.  The Mason jar represents the overall real estate market.  The marbles represents the dominant players. If you were to pour sand in the jar it would fill those spaces and there would be a surprising amount of room for the sand. The niches exist in those spaces between the marbles that the sand fills.

 

To be successful in luxury real estate, you must first identify an uncontested market “space”.  The next step is to insure that the niche is financially viable and fits your interests and strengths.  Here is an example.

 

One of our friends loved historical homes.  She had bought a historical home and rehabbed it from top to bottom restoring to its original splendor, and then bought and sold several more.  This was her passion.  She promoted herself legitimately as a historical expert with a proven track record of sold properties.  Anyone in her area who was interested in buying or selling historical homes knew whom to call. She had found the sand between the marbles, and dominated the historical niche in her marketplace. 

 

Written by Ron & Alexandra Seigel-

ABOUT:  Napa Consultants, International is the leader in brand strategy for the luxury real estate industry.  They work exclusively with professionals who are passionate about gaining or sustaining market leadership. With an expertise in personal branding, company branding, luxury real estate website design and social media marketing they help their clients become the breakaway brand in their marketplace.

 

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Written by Ron & Alexandra Seigel-

ABOUT:  Napa Consultants, International specializes in the art of local niche marketing in affluent communities and they are the leader in brand strategy for the luxury real estate industry.  Working exclusively with entrepreneurs and professionals who are passionate about gaining or sustaining market leadership, they help their clients become the breakaway brand in their marketplace.

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Re-Blogged 4 times:

Re-Blogged By Re-Blogged At
  1. howard koor 05/17/2016 03:57 AM
  2. Marte Cliff 05/17/2016 01:43 PM
  3. Michael Jacobs 05/17/2016 11:57 PM
  4. Roy Kelley 06/03/2016 07:41 PM
  5. Winston Heverly 08/10/2016 03:31 PM
Topic:
Real Estate Sales and Marketing
Groups:
Luxury Home Marketing
Luxury Real Estate
Luxury Home Agents
THE LANGUAGE OF LUXURY
Bananatude

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Rainmaker
2,883,273
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

Jan Green we are so delighted for you, and so glad you are a resounding success in this niche.  Thank you for your kind words, we appreciate them, and we wish you all the best.  A

May 19, 2016 07:01 AM #46
Rainmaker
2,883,273
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

Mary Hutchison, SRES, ABR  you make an interesting point.  Why would you not want to be known as the expert in one niche.  I know of someone who only works on condos, and other agents send the referrals to this person.  The market is large enough to support this person in a grand style, and I mean a grand style. Thanks for taking the time to comment, I appreciate hearing your point of view. A

May 19, 2016 07:04 AM #47
Rainmaker
2,883,273
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

Theresa Akin thank you for taking the time to comment on our post...Like you I love marbles.  And you are right, there is plenty of space to fill in.  A

May 19, 2016 07:05 AM #48
Rainmaker
709,688
Thom Abbott
MyMidtownMojo.com |770.713.1505 | Intown Atlanta GA Condo Living - Atlanta, GA
Midtown Atlanta GA Condos For Sale

I did just that. The market has changed, and now all the new construction is For Rent apartments. I really don't want to work rentals, but if I can get all these new buildings to pay a reasonable fee, I just may do it. (Not like full commission, but at $2500 per month for an apartment and they pay a full month fee, I can work with that. 

But, I've expanded to another market, and trying to get my foot hold in. Part of that is trying to rank for some search terms....that's a challenge!

 

May 19, 2016 08:07 AM #49
Rainmaker
2,883,273
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

Thom Abbott why not get out and talk to those in that area.  This may give you an idea of search terms.  A

May 19, 2016 08:41 AM #50
Rainmaker
2,802,915
Dorie Dillard
Coldwell Banker United Realtors® ~ Subsidiary of NRT, LLC - Austin, TX
Realtor-Canyon Creek- NW, Austin TX Homes For Sale

Good morning Ron and Alexandra Seigel ,

I'm so glad Patricia Kennedy featured this in her post this morning. Can't for the life of me understand why it is not featured with a gold star! Love the analogy. I'm so glad I found my niche in marketing to my community. There are several types of niches in real estate for agents can choose but they have to make a commitment and be consistent with their efforts.

May 22, 2016 12:25 AM #51
Rainmaker
2,883,273
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

Dorie Dillard There are so many niches in real estate, we recently interviewed someone who did relocation only.  And she does very well with that section of the market.  Thank you for your kind words...the fickle finger of features is fickle, no doubt about that.  You never know why or when it strikes.  LOL  A

May 22, 2016 12:33 AM #52
Rainmaker
636,301
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

There is a niche in every market.  Most realtors love to take a 5 million dollar home. However, the ones specialize in fix upper does just as well.  

We have a king is mobile homes he has 50 of them going on and I am sure he does well.  Lots of sands and small ones fills the void.

May 22, 2016 02:12 AM #53
Rainmaker
2,883,273
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

Sam Shueh I so agree with you, that is so true.  We have a guy here who specializes in $4million and above, and architecturally significant.  He does very very well.  A

May 22, 2016 02:21 AM #54
Ambassador
660,303
Rene Fabre
First American Title - Seattle, WA
New Media Marketing

Hi Ron and Alexandra Seigel ... This is so true and a very articulate description of niches. With 30+ years in the industry I've worked with many brokers over the years and I can tell you without doubt, the most successful focused on the space between the marbles and found the niche that resonated with their passion and strengths! I'll be sharing this one if that's okay...

May 22, 2016 02:27 AM #55
Rainmaker
2,883,273
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding and Marketing

Rene Fabre Thanks for your comment, and it is so nice to see you in the Rain again.  And yes, you are welcome to share this post.  Have a great Sunday. A

May 22, 2016 02:31 AM #56
Rainer
75,416
Scott W. Johnson
Marindependent Insurance Services LLC - Mill Valley, CA
Insurance Broker-Agent

Love the pic

May 22, 2016 02:48 AM #57
Ambassador
1,732,435
Wanda Kubat-Nerdin
Specializing in Residential, Referrals & Relocation | PK Real Estate Utah South - St. George, UT
St. George Area Preferred Residential REALTOR®

Cat eye marbles were always my favorite Ron and Alexandra. Though I always wanted to be a successful listing agent due to a marketing / advertising background, representing buyers has become the majority of my business in the past few years, so I will go with it. Congrats on the feature, well deserved!

May 22, 2016 03:13 AM #58
Rainmaker
558,100
Kathleen Luiten
Resort and Second-Home Specialist - Princeville, HI
Kauai Luxury Ocean Home Sales

I coach some Realtors and one of my coaching clients in California needed to find her niche. This was about 5 years ago. We looked at her passions and the answer was the same as your friend. She now has a wonderful niche in the historical district of her area and is on the Board of the local organization for preservation of historical homes. Follow your passion!

May 22, 2016 05:23 AM #59
Rainmaker
1,194,255
Mike Cooper
Cornerstone Business Group Inc - Winchester, VA
Your Winchester, VA Real Estate Sales Pro

Ron and Alexandra, that is a great analogy. Well said and very visual. Thanks for sharing.

May 22, 2016 06:33 AM #60
Rainmaker
557,647
Olga Simoncelli
Veritas Prime, LLC - New Fairfield, CT
Broker-Owner, RE Consultant, Licensed in CT & NY

Ron and Alexandra - what a wonderful analogy and the post was a pleasure to read.

May 22, 2016 09:10 AM #61
Rainmaker
89,191
Margaret Kapranos
Zephyr Real Estate - Greenbrae, CA
Matching Marin Sellers to Buyers! 415-608-5070

Food for thought. Thanks for the inspiration.  

May 22, 2016 11:42 AM #62
Ambassador
3,577,029
Patricia Kennedy
Evers & Company Real Estate, Inc. - Washington, DC
For Your Home in the Capital

Ron and Alexandra, I included this post in today's Last Week's Favorites!

May 22, 2016 11:59 AM #63
Rainmaker
1,011,786
Gene Mundt, IL/WI Mortgage Originator - FHA/VA/Conv/Jumbo/Portfolio/Refi
NMLS #216987, IL Lic. 031.0006220, WI Licensed. APMC NMLS #175656 - New Lenox, IL
708.921.6331 - 40+ yrs experience

"Jack of all trades, Master of none" is certainly NOT a good sign when seeking the services of a real estate agent, Ron and Alexandra Seigel ... I applaud you loudly on that point.  

From an LO's viewpoint, that typically means there's a bumpy road ahead during approval and processing.  It bodes poorly for a client.  Experience and knowledge is so vital in today's marketplace and can't be overemphasized ... and it's important to clients certainly, but to the success of the agent, as well.

Gene

May 23, 2016 02:27 AM #64
Ambassador
3,054,845
Praful Thakkar
Keller Williams Realty - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Ron and Alexandra Seigel excellent way to approach the niche. (And yes, love that story in management class - sand between the marbles. Nice illustration.)

May 23, 2016 01:22 PM #65
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