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?