This month’s Active Rain contest prompts contestants to identify a niche that will provide a consistent stream of revenue. The idea is to imagine you are starting over in real estate. You have no past clients, no database, and no focus for your business. So, you must pick the niche that will bring the riches.
Based on this assumption that the entire goal is to pick the niche that will provide the most income, I dwelled on potential niches. I could focus on properties with short term rental possibilities as this has developed into a niche of mine from my blogging on the topic. But, that’s already part of my business so it seemed a bit off prompt. I could write about focusing on distressed properties or foreclosures, but that didn’t seem like it would really lead me to riches. After some pondering I recalled something a mentor of mine once told me. There are four main triggers for a real estate sale: death, divorce, debt, and disease. I thought about this for a moment. Death is easy to target, I could make relations with funeral homes, and pray on the families of the recently deceased. Disease could be similarly handled; I could attend grief counseling sessions for people with partners undergoing cancer treatment while simultaneously soliciting real estate sales for those desperate to sell due to unforeseen circumstances. However, both of these seemed fairly morose.
Ultimately, I decided on divorce for the focus of my fictitious niche. With divorce, I could potentially secure not one sale but possibly three. Selling the couples current home and helping each partner secure a new one could be quite lucrative. Personally, I have no experience with divorce. I am not divorced, my parents are not divorced, and I’ve never helped a divorcing couple sell a home. But, if I were to build by niche around divorcees I’d follow this plan to deliver the riches.
First, I would obviously blog about divorce/real estate related subject matter. I would write about tax implications and legal barriers, and I would write enough to define myself as the expert real estate divorce specialist.
Second, I would create highly targeted ads to recently separated and divorced couples. While I have never targeted this audience before, I can image with the thousands of demographic selections available in Facebook’s ad targeting platform, one for this demographic exists.
Third, I would make relations with those who know of couples with marital problems. Divorce attorneys would likely be a gold mine. I’d schmooze them, bring them Franklin’s barbecue and their grande, sugar-free, iced, 2 pump, vanilla latte from Starbucks. I would build a cohesive relationship by also offering to recommend their legal services to other divorce lead sources. Other such sources I would build relationships with include couples’ counsellors and support groups, and religious groups with an emphasis on relationships.
All of these actions coupled with a clear brand defined around helping couples who are going through a divorce would be sure to send the riches my way. Now, the question is should I abandon my current niche and devote to the divorcee?