Why Did You Select Your Niche? I Hope You Have A Niche!!

By
Managing Real Estate Broker with RE/MAX Executive Realty 104763
http://actvra.in/4Tf4

New construction was always my niche and my favorite type of real estate, and it provided me with a consistent flow of business. There are few agents who have the same mindset as I, when it comes to listing new construction. 

There were many reasons for my selecting that niche, and they all resulted in multiple avenues that lead to multiple commissions.  Open house events being offered every weekend provides “the rotary in the road” that will branch off in many different directions.  New construction demands open house events to occur every weekend, and that equates to “another piece of business” every weekend.

The traffic that flows through every open house event is diverse.  The range begins with first time home buyers who do not qualify, but they want to satisfy their curiosity.  They want to set the bar for the distant future, but they know it will not be their first home.  The person who hosts the open house has the first exposure to that first time home buyer.  It’s “another piece of business.”

Another type of buyer may be a very well qualified buyer, and they reserve a lot.  That buyer always has an existing home to sell before closing on their next one, and the hosting agent would offer a market analysis That’s a resale listing, and it’s “another piece of business.”

Other visitors to new construction sites are other builders.  They are always up to date with what the competition might be building, and what other builders are offering for amenities in their new homes.  A well-versed new construction listing agent is the ideal agent to give guidance to another builder and, in turn, offer to give a marketing presentation.  Who would be better to market another subdivision than an agent who is presently marketing one!!  People buy on comparison, and the best way to create activity at your listings is to have all of the listings in the marketplace.  I can attest to this from experience!!!  That’s another subdivision, and “it’s another piece of business.” 

There is residual business to close when new construction is the nucleus of your business.  New construction is the perfect environment for training newly licensed agents.  New construction sets the bar in the marketplace.  No one pays more for a resale home than they do for the same home newly built.  Everyone loves to secure, design, decorate and live in a new home, and my team members are always hungry for another subdivision with all of the business that will follow.

New construction has always been “the path of least resistance” for me.  It’s a niche that results in commissions that come from many different avenues, and the road never ends, until the subdivision is sold out.  The game plan is to have new communities timed properly so there are always subdivisions to market.

Yes, my favorite type of real estate is New Construction. There’s always “another piece of business.”

 

Posted by

        

Barbara Todaro, sales manager of RE/MAX Executive Realty 

308 W. Central St...suite E

Franklin, MA 02038

508-520-9881

www.todarosellsfranklinma.com

Exclusive Marketing Agent for The Todaro Team

 

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Re-Blogged 2 times:

Re-Blogged By Re-Blogged At
  1. Roy Kelley 08/01/2016 07:00 PM
  2. JM Padron, CCIM 07/12/2016 10:04 PM
Topic:
Real Estate Sales and Marketing
Groups:
The Art Of Marketing You
RE/MAX Active Rain Bloggers
Bartender, Make it a Double
Agents Who List Subdivisions
Old Farts Club

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Rainer
332,278
Sham Reddy
H E R Realty, Dayton, OH - Dayton, OH
CRS

I have had a niche for 20+ years! Investors and Investment properties!!! It works like a charm even to the point 20% of my business comes from local realtors and they don't even ask for a referral fee

Jul 12, 2016 09:26 PM #24
Rainmaker
513,601
JM Padron, CCIM
REMAX PREMIER-COMMERCIAL ASSOCIATES - Weston, FL
CCIM, MRICS, Serving South Florida

Specialization in mid to large markets is a must. You will become  man expert in your nich and this pays big dividends in the long run

Jul 12, 2016 10:03 PM #25
Rainmaker
2,920,876
Dorie Dillard
Coldwell Banker United Realtors® ~ 512.346.1799 - Austin, TX
Serving Buyers & Sellers in NW Austin Real Estate

Good morning Barbara Todaro ,

Every agent should have a niche! Your post shouts out there are "pieces" of business out there for everyone! It's finding it and claiming it! Congrats on the well deserved feature post!

Jul 12, 2016 10:11 PM #26
Rainmaker
1,758,876
Andrew Mooers
MOOERS REALTY - Houlton, ME
Northern Maine Real Estate-Aroostook County Broker

The guy and gal out in the audience, see them, cater to them. Let them know you understand the niche they are in.

Jul 12, 2016 10:15 PM #27
Rainmaker
2,408,579
Sheila Anderson
Referral Group Incorporated - East Brunswick, NJ
The Real Estate Whisperer Who Listens 732-715-1133

Good morning Barbara. You are focused and skilled and you know where you want to be and what works for you. Bravo.

Jul 12, 2016 10:18 PM #28
Rainmaker
3,569,789
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Thanks, Dorie Dillard ... we all know what your niche is and you have branded very well, my friend.....

Jul 12, 2016 10:21 PM #29
Rainmaker
749,701
Marco Giancola
Beachfront Realty - Miami Beach, FL
Realtor (305)608-1922, Miami Beach Florida

Hello BT-I like you went for the new construction/development niche. I was lucky at the start of my career to hook up with one developer. For 9 great years I only had one "owner" to answer too, no listing appointments and $150,000,000+ in sales.

Jul 12, 2016 10:30 PM #30
Ambassador
1,491,125
Harry F. D'Elia
Real Estate and Beyond, LLC - Phoenix, AZ
Investor , Mentor, GRI, Radio, CIPS, REOs, ABR

I have combined my niches of property management and construction into one company now.

Jul 12, 2016 11:04 PM #31
Rainmaker
2,085,396
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

I also love this "new" product niche and the people involved. Being the first ones to occupy a home is special.

Jul 12, 2016 11:04 PM #32
Rainmaker
597,916
Jennifer Mackay
Keller Williams Success Realty - Panama City, FL
Your Bay County Florida Realtor 850.774.6582

Thanks for sharing Barbara Todaro - Investors and condos are my niche in my area. And when I see new condos, I always jump on the pre-sales marketing trend!

Jul 13, 2016 12:27 AM #33
Rainmaker
758,687
Jan Green
HomeSmart Elite Group,Scottsdale, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Good for you Barbara for selecting a niche that is a constant source of business.  Mine, as you probably remember, is value added service in green features.  I'm excited to be known and was just asked by NAR to join a focus group about a new online course that will be offered to realtors across the country on solar.

Another Rainer and I have joined forces in Scottsdale on a new patio home site that will be green!  He brought me in as a green consultant!  Exciting stuff!

Jul 13, 2016 03:46 AM #34
Rainmaker
1,250,116
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
your real estate writer

This is a message that needs to be pounded home to new agents. As long as your community is large enough, you need to work a niche - or possibly two.

And yet, so many agents tell me they just "don't want to limit themselves." 

Jul 13, 2016 05:33 AM #35
Rainmaker
3,569,789
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Marte Cliff and that's the reason only a small percentage of real estate agents are at the top.... the world is their marketplace..... the narrower, the better.... and fine tune what you focus on in that marketplace....that's how I see it!!

Jul 13, 2016 05:40 AM #36
Rainmaker
1,250,116
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
your real estate writer

I agree with you Barbara. The person is "Jack of all trades and master of none" never makes the kind of money that a specialist does. 

Jul 13, 2016 05:47 AM #37
Rainmaker
2,277,655
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale - Probate Broker

My niches were selected because they just fit with me ... one might say ... in my wheelhouse.  It also makes my phone ring ... and I love that. 

Jul 13, 2016 11:47 AM #38
Rainmaker
1,231,952
Lise Howe
Long and Foster - Washington, DC
Assoc. Broker and Attorney Licensed in DC, MD, VA,

great post! I am adding to be built home designs to some lots that I am selling -to get that extra buzz going

Jul 13, 2016 08:47 PM #39
Ambassador
1,387,735
Alan May
Coldwell Banker Residential - Evanston, IL
Helping you find your way home.

Sometimes I have an itch... but I find that a little cortizone cream, and it's all gone... [wait... what?!  A niche??  really, are you sure?  I thought she said "anitch"... ]

never mind.

Jul 14, 2016 02:03 AM #40
Rainmaker
3,569,789
Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
"Franklin MA Homes"

Hi Alan May I've always found cortizone to be a powerful ointment, but it never had enough "juice' to contribute to my bank account.... 

Jul 14, 2016 02:21 AM #41
Rainmaker
592,453
Bill Roberts
Brooks and Dunphy Real Estate - Oceanside, CA
"Baby Boomer" Retirement Planner

Wow Barbara Todaro I like this: the best way to create activity at your listings is to have all of the listings in the marketplace. Fantastic!!!

Bill Roberts

Aug 01, 2016 11:17 PM #42
Rainmaker
36,062
Inbound Real Estate Marketing
Van Nuys, CA
Learn Online Marketing Today.

Barbara Todaro I love this post. I ever gave that much thought to existing builders monitoring building sites but it makes sense. If I had read your post when I was researching real estate niches for my top 50  blog post I think I would have given a little more consideration to new construction. Keep up the good work. (I shamelessly linked to my blog here. because the two topic streams are matched and we each offer DIFFERENT information) . 

Mar 25, 2017 11:16 AM #43
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