Overcome Your Fear of Niche Marketing

By
Mortgage and Lending with The Jonathan Arnold Team of Inlanta Mortgage
https://activerain.com/droplet/fw

Have You Mastered a Niche Market?

Remember when you first got into the business?  You needed to work with every type of buyer, all property types and every type of financing—just to make ends meet! 

However, there is a danger in being a “generalist”.  The other day, I got a call from a friend of mine who wanted to buy a new home under construction.  The real estate agent they were working with did not have the experience needed in ironing out the details with the buyer and the builder.  My friend was frustrated—calling everyone she knew, looking for advice!  The agent actually did a disservice to my friend—and himself—by not knowing (learning) how new construction deals work. 

In an economy like this, you must consider developing a niche market!  When you do that, not only will you stand out from the crowd, but your marketing becomes more focused and you’ll find you get more leads.  Standing out from the Crowd

Think of your real estate license as an undergraduate degree.  A niche market is your “masters degree”.  Here are some suggestions: 

  •     1st time buyers
  •     2nd time buyers
  •     Investors
  •     New construction
  •     Modular Homes
  •     Veterans
  •     Women-only
  •     Gay/Lesbian Community
  •     Relocation
  •     Foreign Buyers
  •     Ethnic Communities

   
The biggest hurdle is your mindset—fear that you’ll miss out on other real estate transactions.  No, you won’t.  Those deals will still be there. Setting up a niche gives you the chance to be known as the expert—and consider it as another pillar of your business—where you get additional leads over and above the ones you already get. 
   
One last thought…there’s no reason why you can’t have 2 or 3 different niches—as long as you market them separately and become proficient (think masters degree) in each one of them.

-----------------------------------------------------

If you enjoyed this read my PREVIOUS POSTING: Changes on the Horizon

Posted by

 

 
 
  Katrina Cole  

Katrina Cole

Business Development

The Jonathan Arnold Team
   


Inlanta Mortgage, Inc
2029 Celadon Dr NE
Grand Rapids, MI 49525

 
  Chat Status    
   

Office/Fax:

(616) 682-6839

Facebook
   

Cell:

(616) 350-5515

Twitter
   

Email:

katrinacole@inlanta.com LinkedIn
   

Website:

applywithjon.com Google+
     

Website:

brianferrick.inlanta.com
           

HOW we do business is WHY people do business with us.

close

This entry hasn't been re-blogged:

Re-Blogged By Re-Blogged At
Topic:
ActiveRain Community
Location:
Michigan Kent County
Groups:
Realtors®
The Lounge at Active Rain
Almost Anything Goes
Greater GRAND RAPIDS, MI Real Estate
Addicted to Active Rain
Tags:
marketing
new listing
ideas
purchases

Post a Comment
Spam prevention
Spam prevention
Show All Comments
Ambassador
559,534
Peter Pfann @ eXp Realty Pfanntastic Properties in Victoria, Since 1986.
eXp Realty, Victoria BC www.pfanntastic.com - Victoria, BC
Talk To or Text Peter 250-213-9490

Hi Katrina,

Good topic,

Niche marketing is a perect way to relate with people with compatible passions, hobbies or interests.

We target Boomers, Seniors and other retirees as well as their families.

Locally we know of Realtors focusing on

Gardeners,

Photographers

Fitness and health

water front property

high end property

as their way of connecting with a niche

Happy Selling

Sep 14, 2010 09:40 AM #1
Rainer
119,944
Katrina Cole
The Jonathan Arnold Team of Inlanta Mortgage - East Grand Rapids, MI
Inlanta Mortgage, Business Development Manager

Peter & Linda:

Targeting professions is also a great niche.  I know a few agents who got their foot in the door with a her doctors and now they are the preferred agent for their local hospital; talk about a niche!

It is just great to know the ins and outs of specific transactions instead of just dabbling in all of them.  Not to say that there are great agents that never choose a niche, just that they may be doing more business if they did choose one.

The say way goes for us on the lending side. The best loan professionals target a niche(s) as well: FHA, VA, Conventional, Jumbo, RD, Reverse, ect.

 

Sep 14, 2010 09:56 AM #2
Post a Comment
Spam prevention
Show All Comments

What's the reason you're reporting this blog entry?

Are you sure you want to report this blog entry as spam?

Rainer
119,944

Katrina Cole

Inlanta Mortgage, Business Development Manager
How Can I Help You Right Now?
*
*
*
*
Spam prevention

Additional Information