What’s your niche?

By
Real Estate Agent with Tropical Beachside brokered by eXp

What’s your niche?

 

It seems everyone considers themselves a specialist at what they do and, since we live in the age of specialization, that is probably why most agents feel the need to be a “specialist” at something.

 

I don’t think of myself as a “specialist”…rather, I prefer to find my niche and expand or change it as the need arises.

 

Here’s how it all started…

 

When I started in real estate, my plan was to handle commercial real estate and work with investors. I listed several commercial properties for lease and between working with the owner / investors and the response I received from marketing the listings, I thought I had found my niche.

 

I had not.

 

 

As the saying goes, “Life throws us curve balls” and it was about 1-1/2 years later that the brokerage was in the process of being sold and I was left pondering my future.

 

As luck would have it, I received a call from a broker here on the beach. He owned several franchises with the same national firm and had noticed my listing signs. He liked what he heard about me and called to request a meeting to invite me to join his office. After a second meeting, I decided to make the change for many reasons, but it came at a price.

 

Changing brokerages is never easy and meant that I had to rebuild and re-establish my entire business. The new brokerage did a good amount of sales, listings and some commercial but their niche was in the rental / property management market here on the beach.

 

It was a huge adjustment for me to add rentals and property management to my services, so I was thankful that after getting my real estate license, I took classes to be certified in property management. That served me well at the new brokerage.

 

Since I live on Cocoa Beach, I am very familiar with “beachside” as locals refer to the Brevard County beaches and I was soon working both buyer and rental leads. Since we are on the beach in a tourist town, rentals are always in demand and I quickly learned short term, seasonal and long term rentals.

 

As time went on, I occasionally received rental leads from other agents. It was ironic because I never intended to do rentals and property management but one day I suddenly saw the potential in that niche.

 

When you live in a small town, it doesn’t take long for word to get around and soon I began to get rental listings in addition to doing placements. Property management and listing rentals are a natural combination since there are a lot of investors / absentee owners here who need someone honest and trustworthy to manage their properties.

 

When an owner decided to sell, they liked the continuity of listing for sale with the same agent who handled their rental and property management for so long. It was a bonus that many of the snowbirds I placed in rentals were return customers each year and some became prospective buyers.

 

It was quite a change from listing commercial lease properties to rentals and property management but it was the right niche at that time and I enjoyed it.

 

That brokerage was sold several years later and I moved to an independent that did not offer rentals or property management so it has been a few years since I have offered those services.

 

I enjoyed working with buyers / sellers and matching people with the right rental. I sometimes miss my property management days but have revised and adapted to my current situation.

What's your niche?

 

Posted by

Diana Zaccaro, PA

Broker Associate - REALTOR®

"Your Coastal Connection for Cocoa Beach

and the Brevard County Beaches"

Direct: 321.537.7855  - DianaZaccaro@gmail.com

 Tropical Beachside

brokered by eXp LLC

  

 

 

 

Comments (15)

Myrl Jeffcoat
GreatWest Realty - Sacramento, CA
Greater Sacramento Real Estate Agent

I like any niche that doesn't find my ashes buried in it, Diana!

Feb 01, 2019 06:23 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Diana what a great glimpse into your history and the market segment that you are in.... I have several Niche Specialties, Vacant Land in the greater Los Angeles area is one of my primary source of business and then to boot is my International Client Niche which was an offshoot of the Land Niche... and let's not forget Relocation Realtor and Pet Friendly Realtor... they all at different times put money into our lives...Endre

Feb 01, 2019 10:53 PM
Kimo Jarrett
WikiWiki Realty - Huntington Beach, CA
Pro Lifestyle Solutions

Commercial RE, investors and business owners. 

Feb 02, 2019 01:51 AM
M.C. Dwyer
Melody Russell Team at eXp Realty of California, Inc. - Felton, CA
MC Dwyer-Santa Cruz Mountains Property Specialist

Thanks for sharing how your business has evolved.   I'm specializing in Santa Cruz mountains properties - they're complex and rewarding.    When one of my clients wants a city home, it's so easy I'll say yes!

Feb 02, 2019 03:39 PM
Steffy Hristova
HomeSmart Elite Group Tempe AZ Tel: 480-966-9353 - Tempe, AZ
Tempe AZ Realtor - Your Home Close to Your Work!

Diana, thanks for sharing your business story. When I was starting my real estate business I thought, I will focus on live/work lofts as my specialty; however when we could not find enough loft choices, clients opted for a separate office or retail space and a residential home nearby. 

Feb 02, 2019 06:58 PM
Diana Zaccaro Broker Associate
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

Myrl Jeffcoat 

Myrl, I'm with you on that!

Feb 03, 2019 10:53 PM
Diana Zaccaro Broker Associate
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

Endre Barath, Jr. 

Endre, It's important for people to know that we have to adapt and adjust to changes in our market and brokerages so I wanted to provide a little background. And there have been so many changes to the brokerages here in the last 5+/- years that it's important for people to know that when someone changes brokerages, it is often due to circumstances beyond their control. 

I'm a bit surprised there is any vacant land left left in LA, or should I say buildable vacant land. And your other niches go hand in hand with it quite nicely. Diana 

Feb 03, 2019 10:59 PM
Diana Zaccaro Broker Associate
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

Kimo Jarrett 

Those are three highly specialized fields that also inter-relate nicely. I've done some commercial and worked with investors and it will keep you busy! 

 

Feb 03, 2019 11:04 PM
Diana Zaccaro Broker Associate
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

M.C. Dwyer 

We have no mountains in Florida so I did not know that mountain properties were complex transactions...very interesting. What is it that makes them more difficult?

Feb 03, 2019 11:09 PM
M.C. Dwyer

Diana Zaccaro     Oh so many factors!   Mountain slopes can move whereas flat land settles less.   Home foundations may have been built before earthquake standards or not be sufficiently strong for the slopes.    Roads can be narrow and precarious.   Private roads can fall into disrepair or even fail: who will pay for the repairs if there is no written agreement?     Our rural properties are rarely surveyed, and often features were added without permit.    Most homes are on septic, not sewer.      Many homes were built as summer cabins but now are occupied all year around...so they may have insufficient insulation or heat sources.   Some properties are on wells, not public water.  Here it can rain 3-4x the volume of nearby cities, so drainage is key.    Many homes were built near seasonal or year around streams - some require flood insurance while others don't, and some qualify for a surveyors' elevation certificate to reduce the annual cost.   Often mountain trees reach heights of 100', 200' and even 300' tall - certain varieties are prone to fall without warning, others' drop enormous limbs during storms.     Fire safety rules stipulate 150' defensible space but it's hard to implement.    It's harder to find qualified inspectors and repair people who will show up to remote properties.     Many properties don't have reliable cell phone service.    The list goes on and on...There's probably a blog here!

Feb 04, 2019 08:35 AM
Diana Zaccaro Broker Associate

M.C. Dwyer 


I can understand now why you think city purchases are easy! And yes, there is a blog waiting to be finished...you have a great start on it already!

Feb 04, 2019 12:51 PM
Diana Zaccaro Broker Associate
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

Steffy Hristova 

You were very savvy to recognize early on that what you thought would be a good specialty was not. We have mixed use zoning in limited areas which means the business can be on the first floor and the owner can live on the second floor. Do you have that in your area?

Do you handle office / retail space for you clients as well as helping them find homes?

Feb 03, 2019 11:14 PM
Steffy Hristova

Hi Diana, yes, I usually list office/ retails space for sale or lease, in addition to my residential homes sales.

Feb 04, 2019 07:11 AM
Eleanor Thorne
Equity Resources - Cary, NC
Equity Resources 919-649-5058

We've always focused on First Time Home Buyers - but like you have seen, markets change.  I'm not sure what we will need to focus on in the next 5 years - but I'm certain we have to rediscover a new niche!  Thanks!

Feb 04, 2019 07:01 AM
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Good for you for adapting and changing with the new brokerage.  Now that you've had to change again, I'm sure there are aspects of rentals that you miss, the people to name one.  My niche is in energy efficiency. I'm known for it. Just yesterday and then today, two agents called looking for off market properties that are energy efficient, but also chemical free.  That is becoming more commong as people figure out they are allergic to pesticides.  The niche has served me well for 11 years, out of 16 in business.

Feb 04, 2019 06:01 PM
Diana Zaccaro Broker Associate
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

Eleanor Thorne 

Eleanor, I have a feeling your next niche will find you when you are not looking for it and least expect it! Diana

Feb 05, 2019 08:02 PM
Diana Zaccaro Broker Associate
Tropical Beachside brokered by eXp - Cocoa Beach, FL
"The Accidental Blogger" Cocoa Beach, Florida

Jan Green 

Jan, You have cetainly found your niche and it's interestng that energy efficient has expanded into the pesticide free niche. I think you are in the right place at the right time. Diana

Feb 05, 2019 08:08 PM
Jan Green
Value Added Service, 602-620-2699 - Scottsdale, AZ
HomeSmart Elite Group, REALTOR®, EcoBroker, GREEN

Thank you Diana Zaccaro .  Sadly, some of the pesticide free products and services available today are thanks to too many chemicals in our environment.  There are those that have become chemically sensitive and been seriously ill.  That's a need that is so sad to fill.  

Feb 06, 2019 11:05 AM