It Took Years to Find Now What are You Going to Do with It

By
Real Estate Agent with Florida Supreme Realty SL514814

What's missing? You have a state of the art robo-caller sending glimpses of new listings to your database. Nary a smidgen of interest is seen. You have your photographer take a bunch of pictures and then you upload them to your automatic visual tour maker complete with digitized text to voice conversion and boilerplate background music. It appears magical in your eyes and yet only minimal responses. Your blog is regularly refreshed with new info written by a so-called expert in the field. You have a choice of 50 or more that will surely get you noticed. Those leads should be pouring in. Once again somethings missing. Your business is completely automatic and self sustaining except now you need to continually feed it those hefty checks each month. How did this happen?

It's my belief that real estate agents have been the scammer's biggest targets for years. The impression that dollars just flow out of us is readily seen by the cars we LEASE and Buy or the clothes and accessories we are wearing. It's not always a facade however often it is and this trend cycles as frequently as do the ups and downs of the industry. The struggle becomes apparent halfway through our freshman years. The flow just isn't what we expected and sometimes the nerves get to us and we quit or we dig down, set our heels to the ground and pull ourselves up. Because nearly 90% of us are Independent Contractors we have a lot of leeway as to how we view our business. My suggestion today is to go out there and identify your niche right away. No one goes to school to fail although that's exactly what happens to three fourths of agents in the first year. It does not need to be that way!

We have a propensity to look over that proverbial fence and view the greener grass at our onset. If you've made it beyond that rookie first year congratulations. You're truly one of the lucky ones. Take a good in-depth look at your competition and where you see yourself in the near future. Real Estate is a mental game and all you really need to do is find your niche and market to its needs.

People don't whittle like they used to and I really don't know why. It can be a very useful tool in your real estate repertoire both literally and figuratively. Two types can occupy your time while one might only shave pieces off a stick bit by bit the other can shape that same stick into an intricate piece of art in the same methodical fashion, bit by bit. Too many agents start be covering huge territories and attempt to grab any piece of business that they can without one iota of experience or expertise. Experience will arrive naturally however becoming the expert in everything real estate could take a lifetime. Can you afford that?

There's much difficulty to perceive that you could earn more money by pursuing a smaller market. Maybe you're not earning the amount you expected when you began and kept adding more and more untested avenues until finally you burned out. You have talents you've not explored yet and I want you to begin to THINK SMALL. Get to know where your strengths and weaknesses lie. Finding a niche market that will make you money is relatively simple although it isn't always easy. Identifying a target group of customers is but actually finding the one that is spending money isn't. What service are you going to provide for this niche? This skill should be found wherever wants, frustrations and trends intersect. Next you'll have to stop looking at the niche as a consumer and observe its contents as a marketer would. It isn't that your target didn't want to spend money on what you offered it's that they didn't want it in the manner with which it was being offered. The recipe to your success can be found in your ability to manipulate the ingredients of intuition, science, data and art into your special blend. As stated, this is not necessarily going to be easy. 

What's missing? This is where we began and this is where we'll end. Step away from your box of preconceived notions. Fill that void for your new niche. How will my service help the challenges within my niche? Become a 3rd party observer. Don't make the mistake of ending the search for your niche too soon. There's one or more that's right for you! Once you learn how to find your niche the process should be easily repeatable and profitable wherever you are and wherever you go. You are the only remaining piece that's missing!

 

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Comments (20)

Rose Mary Justice
Synergy Realty Pros - Dandridge, TN
Synergy Realty Pros

I enjoyesd your post and the song immensely.   All that is missing is our mark on the market.

Mar 16, 2019 05:27 AM
Kevin J. May

Thank you Rose Mary, I chose Itchycoo Park because it's the smallest niche I could think of plus it's all too beautiful!

Mar 16, 2019 03:22 PM
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

Good morning Kevin. You can use a shotgun or a rifle. One takes less lead to get the job done. Your choice! Enjoy your day!

Mar 16, 2019 06:10 AM
Wayne Martin

Carol Williams , a true consideration for your Saturday post! 

Mar 16, 2019 06:12 AM
Kevin J. May

Trying to avoid the scatter gun Wayne, however, I know exactly what you're saying!

Mar 16, 2019 03:16 PM
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

Good morning,  Kevin - this post is on target. A bulls-eye for sure.

Mar 16, 2019 07:57 AM
Kevin J. May

Between you and Wayne Martin I'm feeling like my sights are dialed in well Michael, thank you!

Mar 16, 2019 03:14 PM
Krista Jenkins, REALTOR®
klm Real Estate - Lubbock, TX
Residential sales and retail & office leasing

Well said, Kevin.  I have been in business less than five years, and I have spent a lot of time observing. There is a lot of "noise" in the real estate industry. The "you must do this", "you must have this", etc., etc., etc. I have found most people cannot adequately support their positions with the advice they give. Most are just trying to sell you something. In the end, I believe it all boils down to cultivating relationships, and there are no short cuts. I believe I am finally at a place where I can define my niche, and it is a good feeling. Thank you for the post.

Mar 16, 2019 08:00 AM
Kevin J. May

Krista, I hear your passion slowly emerging and some fear fading away. Expect to be uneasy it has purpose by leading you away from your comfort zone and that's where your successes shall be found.

Mar 16, 2019 03:10 PM
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Kevin,

You are broaching the subject of critical thinking which involves both observation and research.  This is not an easy route to take, but it is definitely for those who want to succeed.  A

Mar 16, 2019 12:38 PM
Kevin J. May

Walking that tightrope is where I feel most comfortable Alexandra.

Mar 16, 2019 02:47 PM
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

Hi Kevin- I would imagine that a brand new agent would be like a kid let loose in a candy store. What do you choose and where do you stop. If someone wants to be in it for the long run, they would do well to get a mentor, do some critical research and decided where they wan to be. 

Mar 16, 2019 04:26 PM
Kevin J. May

You're exactly right Kathy when they're given the opportunity. There's a time investment to learn all of the facets to real estate but once the water's been tested it behooves agents to pick a favorite niche and run with it.

Mar 16, 2019 07:35 PM
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

Whittling is good. Not just intelligent for business, but simplifying makes for better quality of life overall.

Mar 16, 2019 04:29 PM
Kevin J. May

You sound like a guru, a rel estate guru Candice. You would think that the more complicated the better is the mantra for today's associates. We like simple because it works the best!

Mar 16, 2019 07:39 PM
Kathy Streib
Room Service Home Staging - Delray Beach, FL
Home Stager - Palm Beach County,FL -561-914-6224

                                

                                      Thank you, Kevin. 

Mar 16, 2019 05:31 PM
Kevin J. May

That light hasn't dimmed a bit in spite of our longer distances apart. The only difference is that I must shout out my THANK YOU instead Kathy. Always appreciated!

Mar 16, 2019 07:42 PM
Peter Mohylsky. Broker Associate
Miramar Beach - Santa Rosa Beach, FL
THE BEACH IS OPEN AND WAITING FOR YOU

Nice thought and great post, congratulations for turning th corner and staying focused.

Mar 17, 2019 04:45 AM
Kevin J. May

I've turned enough corners to come full circle Peter, there is no better business than Real Estate. Ask any billionaire?

Mar 17, 2019 05:56 AM
Barbara Todaro
RE/MAX Executive Realty - Retired - Franklin, MA
Previously Affiliated with The Todaro Team

Good morning, Kevin J. May niche marketing is the way to go... focus on one phase and work it like it belongs to you...

Mar 17, 2019 05:35 AM
Kevin J. May

...and never let up....others are always trying to nip at your heels.

Mar 17, 2019 05:53 AM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Finding a Niche Kevin J. May takes work and cultivating. Once it is completed it is oh too beautiful just takes some patience and time. We are in this business for the long haul so find that Niche.  Glad Kathy Streib  lit this up missed this post 

Mar 17, 2019 09:02 AM
Kevin J. May

Hannah, there's a misconception that the competition may have locked down certain niches. I want everyone to understand while they may have strong footholds in some don't avoid the opportunity simply because they say this is mine. No niche is impenetrable with some perseverance added to the mix. You must work for it every day!

Mar 17, 2019 12:04 PM
Debb Janes EcoBroker and Bernie Stea JD
ViewHomes of Clark County - Nature As Neighbors - Camas, WA
REALTORS® in Clark County, WA

Trying to be the King of Everything is exhausting - although, I assume that's why we often deal with team members or assistants in transactions. We choose to have a very specialized focus, it makes life more enjoyable too. 

Mar 17, 2019 09:12 AM
Kevin J. May

I call it the "gimme" syndrome. The mountaintop once realized is a lonely place to be and is the most difficult place from which to rule a kingdom. Great for battles though, you'll have many! Enjoy life my friend.

Mar 17, 2019 12:11 PM
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

It used to bother me in listening to broker mention these agents poor behavior. My 1st broker always said if an agent is try to screw you give me the facts I will go after his license. We had a C21 office which broke just about every law in loan, and RE fraud. It took several years for C21 headquarter to catch on. That franchise did not report 100% franchise fee collected. It showed up on local newspaper and finally put these folks in jail.  Now they are out.  

Mar 17, 2019 06:47 PM
Kevin J. May

The behavior won't go away until we learn how to police ourselves swiftly and effectively.

Mar 18, 2019 09:06 AM
Marte Cliff
Marte Cliff Copywriting - Priest River, ID
Your real estate writer

Focusing on a niche is something I nag about a LOT. New agents just can't seem to get it. They're so anxious to have any client that they don't want to "limit themselves" with a niche.

I'll keep nagging, and reminding them that it's not good to be a "Jack of all trades and master of none."

Mar 17, 2019 10:23 PM
Kevin J. May

Many (new agents) do not have the luxury of a bank roll by the time their first sale arrives. That desperation seems to hang on and directs how they perceive business. Keep on nagging them Marte and maybe they'll learn to have a niche ready to market to instead.

Mar 18, 2019 09:12 AM
Jill Sackler
Charles Rutenberg Realty Inc. 516-575-7500 - Long Beach, NY
LI South Shore Real Estate - Broker Associate

"Real estate is a mental game" line is very true. Otherwise, it can be over at every turn.

Mar 19, 2019 03:46 PM
Kevin J. May

I prefer a quick game of checkers but chess has its due time also Jill.

Mar 19, 2019 08:40 PM
Kat Palmiotti
406-270-3667, kat@thehousekat.com, Broker, eXp Realty - Kalispell, MT
Helping your Montana dreams take root

I've been guilty of trying to do anything that comes my way. With my move later this year to a new state, it's a great time to finally start focusing on a niche or two.

Mar 30, 2019 04:04 AM
Kevin J. May

You won't regret it Kat, two sounds like a grear number!

Mar 30, 2019 04:26 AM
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

This is an issue I've seen for 25 years, Kevin... agents trying to be all things to all people... it doesn't work. One thing I learned to do a long time ago is to refer business out that doesn't fit into my interests and expertise.

Mar 30, 2019 08:17 AM
Kevin J. May

When the coffers begin to dry up it's a heckuva way to try and make a living Nina. Now I know two Smart Girls in Real Estate, one in Naples, FL and YOU! 

Mar 30, 2019 12:40 PM
Elizabeth Weintraub Sacramento Realtor Top 1%
RE/MAX Gold - Sacramento, CA
Put 40 years of experience to work for you

My focus has been solely listings the past 10 years or so, and I have never regretted that decision. At the time I did it, I thought, oh, no, I am losing half my business (the buying side), but today, I laugh over that anxiety. The opposite happened.

Mar 30, 2019 09:38 AM
Kevin J. May

I don't see a bit of anxiety on your face Elizabeth although it was likely written all over when you took that GIANT 1st step. I congratulate you somewhat belatedly!

Mar 30, 2019 12:44 PM
Hannah Williams
HomeStarr Realty - Philadelphia, PA
Expertise NE Philadelphia & Bucks 215-820-3376

Kevin J. May  once again I have read this post -Oh it is Oh so beautiful -So Glad Carol Williams  included it in scs 

Mar 30, 2019 03:24 PM
Kevin J. May

I just realized that I was seeing double Hannah. I've not heard of a post being described as "beautiful" before but as I reread it myself that description fits well. Thank You! And well Carol Williams ? What can I say, she has lit a small fire under me! 

Apr 02, 2019 01:43 AM
Endre Barath, Jr.
Berkshire Hathaway HomeServices - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

Kevin, what a great post and I am here because of Carol Williams  ironically this should have had the Featured Gold Star with it.... but I understand your are touching nerves.... the Truth Hurts:) Endre

Apr 01, 2019 11:12 PM
Kevin J. May

It's Real Estate Endre, nerves shall be touched. Carol has given me the inspiration to post more frequently. Can't complain I received a Gold Star on the following post a day later. They're always a welcome bonus.

Apr 02, 2019 01:36 AM