Admin

Do you Need More Closings? Consider Developing a New Niche

By
Services for Real Estate Pros with Marte Cliff Copywriting

Do you serve a real estate niche market? And is that niche market not providing you with the quantity of closings you'd like? 

Then think about adding a new one. 

Some agents tell me they don't want to confine themselves to a niche - because they need every client they can get. I understand that, and there really is no reason to turn down a client unless you really have no expertise in handling the kind of home or property they want to buy or sell. 

But just because you don't want to exclude anyone doesn't mean you can't develop one or two niches. 

Choosing a niche allows you to do two things: 

  • Become the recognized expert
  • Focus your marketing efforts

When you focus on a niche, whether geographic or otherwise, you naturally learn more and more about the people and the homes / land in that niche. Before long you'll know more about that particular group of home sellers (or buyers) than any other agent. 

Knowing more will not only help your clients - and help you close more transactions - it will make it easier to focus your marketing because you'll understand more about what matters to them. The result will be: "The better it gets, the better it gets."

So think about. And if you need ideas about a new niche to choose, visit my prospecting letters page. Right now I offer more than 30 different letter sets, many of them written for niche marketing. More will come in the future, because I keep a list of inquiries from agents who say "Do you have a letter that...?" (I just need a chunk of extra time to work on the list.)

 

Comments(28)

Sally K. & David L. Hanson
EXP Realty 414-525-0563 - Brookfield, WI
WI Real Estate Agents - Luxury - Divorce

Initially our niche in divorce, chose us and we chose to foster the growth of it through a variety of targeting marketing efforts.

Oct 14, 2013 10:01 PM
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

I amw riting 33 contract thoday for investment homes for a group. My niche works fine and I have spent 24 years trying to perfect my craft. It takes a lot of education, a lot of experience, and just a little bit of courage when people think you are crazy to do it. I am not saying that you do only one niche, but it seems to work for Doctors just fine.

Oct 14, 2013 10:31 PM
Rob D. Shepherd
RETIRED - Florence, OR
RETIRED

So fat the only niche I have is the small subdivision I live in. I am the "go to man"" for everything!

Oct 14, 2013 11:18 PM
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

Marte, this does make a lot of sense. Niche marketing works for other industries.

Oct 14, 2013 11:52 PM
Ed Silva, 203-206-0754
Mapleridge Realty, CT 203-206-0754 - Waterbury, CT
Central CT Real Estate Broker Serving all equally

Marte, I have re-organized my work sphere over the last couple of years to include some niches that are working just fine for me. Blogging is also effective, and that is a niche.

Oct 15, 2013 01:08 AM
Tammie White, Broker
Franklin Homes Realty LLC - Franklin, TN
Franklin TN Homes for Sale

I have a geographic niche but am finding that the majority of my business comes from out-of-state buyers. That certainly is a niche.

Oct 15, 2013 02:04 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Andrew - Yes, lifestyles make good niche markets. 

John - I try - but the more I talk with agents, the more tools I see are needed.

Debbie - Now you've got me wondering about niches in your business.

Sally & David - You have to be very strong people to pursue that niche. The few divorce sales I handled when I was an agent left me wanting to make both parties "Go sit in the corner." 

Jow - Whether you need one niche or many depends upon the number of people in that niche. If there are plenty, then one is enough. 

Rob - And your reputation will continue to grow - good for you!

Michael - Yes, it does. You can't be the best at everything, but you CAN be the best in a niche or two.

Ed - Sounds like you have it all under control and working well. Good for you!

Tammie - Yes, when you have the information (and the patience) to provide what those out of state buyers want and need, they're yours! 

Oct 15, 2013 03:08 AM
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Hi Marte.....niche marketing is the only way to go....one can have more than one niche.... we have new construction and resale listings.... we are known for both....

Oct 15, 2013 03:09 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Hi Barbara - And you're the master at making SURE you're known for both! 

Oct 15, 2013 03:26 AM
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

Always good to assess and tweak the old systems and bring the current...good post

Oct 15, 2013 03:45 AM
Rich Gaasenbeek
IXACT Contact Real Estate CRM - Toronto, ON
Real Estate CRM & Marketing Made Easy!

Marte, it's a very good idea to focus on a niche. We reblogged an article a while back from another ActiveRain member, John Marshall, which you may be interested in reading. Love your blog posts! :)

Oct 15, 2013 04:59 AM
John Marshall - FORE!
LoKation Real Estate - Cherry Hills Village, CO
Specializing in Golf Course Properties

Marte - I couldn't agree more, niches are by far and away the best way to dominate your market place. I have long touted "The Riches are in the Niches". I specialize in low-maintenance golf course properties and new construction in south metro Denver.

Oct 15, 2013 05:01 AM
Sharon Tara
Sharon Tara Transformations - Portsmouth, NH
Retired New Hampshire Home Stager

I think a niche is a great idea...certainly does establish you as an expert!

Oct 15, 2013 05:08 AM
Tracy Lee Parker
RE/MAX DFW Associates - Royse City, TX
Buy*Sell*Rent

Hi Marte, I found this interesting because I am doing that now! I am a seasoned real estate agent in my area and I want to break into more  new home sales! I will be looking at your letters. Thank you!

Oct 15, 2013 05:23 AM
Wayne Zuhl
Remax First Realty II - Cranford, NJ
The Last Name You'll Ever Need in Real Estate

Being an expert in a niche is a great way to increase sales - great post!

Oct 15, 2013 06:44 AM
Patricia Kennedy
RLAH@properties - Washington, DC
Home in the Capital

Marte, I know a lot of agents with a niche, but they don't limit themselves to their niche. 

Oct 15, 2013 12:37 PM
Donna Foerster
HomeSmart Realty Group - Parker, CO
Metro Denver Real Estate Assistant

Hi Marte~ I was a reluctant to be specialized for a very long time. I thought it would be limiting, but it is just as you said. I allows one to be focused and "on purpose" about their marketing.

Oct 15, 2013 12:37 PM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Richie - Yes, always be thinking about what you could be doing "more or better."

Thanks Rich - I'll go check out that post.

John - and I'll bet you're the agent in demand in those niches!

Sharon - I think so. No one can be an expert on everything. 

Tracy Lee - Right now I don't have letters to help land builder clients - better put that on my list! 

Wayne & Jean Marie - I think so.

Patricia - No - you don't need to limit yourself. The niche just helps you get more of the clients you want most because you become the expert. 

Donna - That "on purpose" marketing beats generalization every time. 

 

Oct 15, 2013 01:22 PM
Beth Spradley
Beth Spradley, LLC - Cape Coral, FL
Selling Homes & Investments in Florida and Alabama

After moving to a new market, I am surprised to find that most of my niches are where I am, too, or have been personally- relocation, historic homes, divorce and probate, and second homes. It made me think about some strategies.  Glad you have letters for it.

Oct 19, 2013 03:19 PM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Beth - It's so good to create a niche in an area where you have prior knowledge and expertise. You're not starting from scratch. 

Oct 19, 2013 03:43 PM