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As the market changes, so are my clients

In the last couple months, I've seen an interesting thing happen in my niche market of Lease Options and Owner Financing. There are more and more agents trying to get into my niche as they realize I'm doing more and more business.

But, what happens when you get in to a niche you don't understand? You usually get yourself in trouble! I was approached a couple months ago by an agent that said he specialized in short sales and foreclosure properties and wanted me to partner with him to help him buy and sell these properties.

But, after hearing his proposal, something sounded not quite on the up and up, and I told him that at this time I would have to pass. Well, he decided to venture out and try to go it alone and now I find out that he is under investigation both from the real estate board and the police, for his activities.

But, what is happening to me is my niche that I started 3 years ago is now starting to get to the point that they are the ones with the good credit and are now either looking to sell their previous home and move up, or just refinance into a traditional loan and stay right where they are at. (Which I think is great!)

But, you see, my website is designed more for the average person, it doesn't look as slick as many other sites I've seen. I'm starting to lose some of the main stream buyers and sellers that are not already my existing customers because the website was focused mainly on my niche market and not the general public. Now, my niche does get me a regular paycheck, but it doesn't bring in the big dollars.

I do work with traditional financing and love it those when the process goes smoothly, but I'm starting to think I need to rewrite my website to focus more on a cross between my niche and the traditional market. As more and more agents leave the business, I am seeing an increase in calls, but I know with my numbers that are visiting my site every month that it certainly could be more!

So, the time for a change has come, and over the next couple months, I think I will be revamping my website to appeal to a broader market and hopefully, catch my niche with my blogs as well as the traditional market, that is clearly interested in what I am offering!

Todd Clark - broker
Kastings & Associates
Phone: (503)524-9494
Fax: (503)622-8739

Posted by Todd Clark (Broker/Sales Coach), GRI (Beaverton, Oregon Real Estate Expert) on 07/09/2008 11:58 PM

Comments (19)

lease options, owner financing, risk managment, selling, seller, beaverton oregon real estate, tigard oregon real estate

Originally posted at: Living Beaverton - Your guide to everything Beaverton: As the market changes, so are my clients

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19 Comments on As the market changes, so are my clients

JUL

2008

Well, I understand that you have a niche, but just as you ned to adapt to your clients, so do the rest of us. I have been aware that lease options will be more popular soon, but it just hasn't caught on here as much yet.

Todd,

I agree the rental market is exploding! In fact I wrote a blog article (Rental Market EXPLOSION) on it that you want to check out

Happy Selling (and Renting),

Christina

Wow! A site makeover is a ton of work! I launched a new site in December and have never quit tweaking it. I know the blogging with long-tail keywords can make a difference.

very interesting

Good luck with your site. It's a lot of work but worth the effort.

In my opinion lease/ops are the most difficult to get closed. I have written a couple and the buyer always flakes out. I am impressed you do them.

Finding your Niche market, being successful by capitalizing on it, then reorganizing your website - these are some remarkable achievements. I can't wait to see the finished website.

Todd, good luck on the new venture. Lease options are a nice niche to be in. The only problem is when encountering someone with not only bad credit but they don't have the option fee to get qualified either. Looking forward to seeing your finished product.

I'm sure glad you didn't partner with that other guy! Way too much of that stuff going on.

Expanding your niche is always good. Here's to expanding your horizons!

Todd - can not wait to see revamped site. Its a lot of work but it will be worth it. Good luck.

Life always keeps us on our toes, doesn't it?

Todd- Lease options have not caught on here- We have couple buyers looking for that sort of financing- but no sellers willing to do it. Your website looks great to me... Good luck

Todd,

You are doing a great job, you carved out a niche and now it is paying you some nice dividends. Looking forward to your new diggs.

Todd,

You are doing a great job, you carved out a niche and now it is paying you some nice dividends. Looking forward to your new diggs.

Todd: It takes a wise businessman to know when it's time to change course. Not everyone is that observant. Tracking your leads is so important to make the most of your marketing. I've been surprised by some of the things that bring me business. Others are no brainers. But tracking, and staying on track, are important. Can't wait to see what you come up with.

Steve - Still here only about 1-2% of agents do lease options or owner financing, and I would say 90% of them don't know what they are doing and are just waiting for a lawsuit to happen.

Christina - I'm amazed at the increase in rents in our area as well as the vacancy rate falls to record lows.

Vickie - I'm slowly learning the long-tail thing and I am tweeking my website with those as well as just visually!

Steven- Thanks, come back soon, I hope to have the update done as quickly as possible.

Leslie - The key to getting a lease option to work is that they have a down payment of some sort and that you work on them with their credit over the time of the lease. If you don't, they will never purchase!

Leolinda - To be honest, I can't wait either! If I could get it done in one day, I would, but I know that this will be a work in progress over the next couple months.

Todd,

I like your website. I think it does the job without overpowering the customer. Have you tried a customer survey? Just an idea.

JUL

Todd,

In our area owners are running scared of agreeing to a Lease Option Program.

Too much carnage in home sale prices. Still hard to call the bottom.

Dave - If they don't have either, they don't get moved in!

Pam - Thanks and I'm glad I didn't partner with him either.

Venancio - I can't wait to get it done either!

Marzena - Always!

Barbara - Thanks for the shout out for my website, we don't have a lot of people here, but we have enough to keep me busy!

Gary - I'm looking forward to debuting them and hopefully it won't take as long as I'm thinking it will!

Chris - I've always tracked my leads, I didn't want to waste time or money on advertising that wasn't working.

Fred - No, I haven't thought of doing a survey, I think I'll send one out tomorrow.

Scott - Your area has been crazy with the prices and I know are prices are strange, but yours are out of control.

Todd - Seems to be a good marketing strategy to me. It's all about evolving, I've coined it Chameleon Marketing:-)

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