Did you choose your niche? If you haven't, save this lesson and come back to it when you're ready. (Or just begin today with a niche you're considering. This exercise might help you decide if it's the right one for you.)

             Today you begin to become an absolute expert in that niche. It is, of course, an ongoing process, so this is merely a starting point.

             Begin with attending every broker open and/or every open house. If no one does those in your community, ask the listing agents for preview visits. Your goal is to know all you can about each home (or property) for sale in your niche.

             Print out the MLS sheets and pick up the flyers for each one. Then attach a blank sheet for your own use.

             As you well know, the MLS and the flyers don't begin to tell the truth about a house. Descriptions are vague or non-existent - if they're even correct. You'll need to take your own notes, paying careful attention to a few things that make a big difference in the final selling price:

• Condition - hardly ever mentioned on flyers or in MLS but high priority for buyers
• Location - and why it is desirable/undesirable for whom
• Special features - special rooms - unusual amenities
• Decor - neutral or dramatic?
• Neighbors - tidy and quiet or a noisy mess?
• Size of rooms - both living areas and bedrooms

Your goal will be to know so much about each house that when you want to use it on a CMA you will know - not guess, but know - if it actually compares to a property you want to list.

 Next, keep a file on those homes. When a sold notice comes through, get out the flyer and write down both the selling price and the days on the market.

 Since you'll want to use the freshest data possible for every CMA, you won't be using the information you gathered a year ago - but keep it! You will be able to use it to show market trends. Clients will ask you if the market is up or down - and the data you've saved will give you a true answer in place of a general feeling or a guess.

 This information will help you with buyers as well.

 When you set out to show homes your goal should be to zone in on the best choices for your buyers - not to waste your time and theirs showing them every single listing in their price range.

 When you know every house for sale in your niche, you can do that. That is, you can do it if you take the time to really talk with your buyers before you put them in your car.

I want you to realize, that when you start out knowing what your buyers really want, you'll spend far less time showing inappropriate listings.

 Your assignment for today: Choose 2 or 3 homes in your niche (or even the niche you're considering) and make arrangements to see them. Then print out the MLS information and anything that the listing agent may have on their website.

 Devise a filing system so you can keep track of the information. Perhaps you'll want to set it up by subdivision, by street, or even by section, township, and range - but set it up so you can go back to the flyer when you need it.

By the way, if your research takes you to a house you believe is perfect for a buyer you've been talking with - stop and make a phone call. Tell them you may have just found their dream home, and ask if they'd like to see it. 

If you've been using your tools well, the flyer will already be in their in-box, but as I said, may not tell them enough to spark their interest. They need your enthusiasm to get them excited about seeing it.