As a real estate agent, it’s pretty clear what you do – you help people buy and sell homes. But if you think about it, that’s a pretty broad statement.
There are lots of kinds of people and lots of kinds of homes. Sometimes, it can make a big difference in your marketing if you decide to niche. When you niche, you choose a small portion of the market and make it your expertise.
Many business owners – including Realtors® – really struggle with creating a niche because they’re afraid to lose customers. The reality is when your marketing is perfectly aimed, you get more of the right customers, and that makes you more profitable!
Here are three lesser-considered niches to think about for 2019.
Second-Time Homebuyers
A lot of real estate agents focus on first-time homebuyers, but it might make more sense – and be more profitable – to focus on those in their second round.
One reason for this is that people buying their second home are usually moving up, meaning the homes you work with will be more expensive and gain you more commission. Also, these home buyers have been through the process once so they won’t need as much coaching and hand-holding.
Another important factor is that there aren’t very many “starter homes” on the market. The market has been really tight for a long time, and helping second-time home buyers will get you access to a broader selection of properties.
New Construction
Builders start over one million homes per month, so focusing on new construction can be a great niche. It’s especially nice because you’re dealing in move-in ready homes, and if you work with a developer you can often help buyers customize the house to their exact needs.
White Square Properties is an example of an Australian real estate agency that focuses on new construction. By looking at their site and their marketing, you can get ideas on how to tailor your message if this niche appeals to you.
New construction can be pricey so you’ll probably be working with established professionals as buyers. You may also have success helping folks who are relocating from overseas or other parts of the country.
International or Foreign-Language Real Estate
Are you from another country, or are you fluent in a language besides English? If so, you may be able to build a business around helping folks from overseas, or folks who don’t speak English as a first language, buy real estate in the U.S.
There are a lot of reasons that international folks move to the U.S. They may be immigrating permanently, or they may be moving here to go to school. Perhaps they are on a work visa for a specific company. Regardless, they need someone to show them the ropes!
Of course, your client – a buyer OR seller – may already live here but simply doesn’t communicate in English well. This can make it easy for them to be taken advantage of. By being the bilingual expert, you can put them at ease and develop a uniqueness that stands out in the market.
Even if you don’t speak another language, developing an expertise in visas, school arrangements at a university near you, and/or other relocation skills can help you build a booming business. Folks from another country don’t know what to expect when they buy here – you can help them with everything from getting a home within budget to navigating the laws and contracts needed.
Get the Marketing You Need for Your Niche
These three niches are areas that real estate agents often don’t think about. Of course, there are also the more common niches, like first-time homebuyers, empty nesters, and retirees.
Regardless, you’re going to need targeted real estate marketing. From postcards to business cards, we have everything you need. Contact us today for more information!
This post originally shared on PrinterBees' Real Estate Marketing Magazine.
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