Are Real Estate Marketing Niches Too Restrictive?

By
Education & Training with Getting It Write, Inc.

I talk to a lot of agents about identifying a niche market to go after.  Those discussions end in different ways.  Some agents immediately see the value of a niche, others really feel that narrowing their marketing focus will be detrimental.

Real Estate Marketing PuzzleThere are a couple things I try to communicate about defining a niche:

1.  Defining a niche doesn't mean that you eliminate all other prospects.  If you specialize in working with people who are relocating, that doesn't mean that you won't work with local buyers or sellers.  It just means that you don't market to the local folks.

2.  Most (perhaps all) successful businesses define a niche.  I always tell people that one strength I bring to the table is the ability to apply good marketing principles to the real estate industry.  At times, it makes me sound like a nut, but I keep after it anyway.

Think of any business that comes to your mind and ask yourself if they have a niche.  Let's take cleaning products, for instance.  Have you ever been unlucky enough to be watching television during the day - maybe during a bout of the flu?  Have you noticed that there are tons of commercials for cleaning products during the day? 

Could that be marketing to a niche?  There are many more women responsible for cleaning the house watching television during the day.  The cleaning product manufacturers know that men and women working outside the home may also use their products, but they don't market to them.

Do you have a luxury magazine in your city?  We do here in Atlanta.  How many ads do you think there are in that magazine for luxury cars?  How about pickup trucks?  Sure, the pickup manufacturers know that someone with a  lot of money might buy a pickup truck.  But, they don't market to them.

So, the next time you are thinking about a niche market, keep in mind that every human being on the planet might buy a home from you, but do you want to market to them?

Real Estate Marketing information is available at our main site and our Real Estate Marketing Blog.  Visit our Point2 Agent website for real estate web site information.

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Rainmaker
300,475
Heather the Realtor Orlando, Lake Mary
LemonTree Realty - Orlando, FL
First Time Home Buyers, Bank Owned Homes

Kathleen this is tip #1 in marketing 101. My boyfriend owns a marketing and advertising agency and he continued to drive home the idea of picking a niche and he was right, by business has more then doubled this year because of this.

Jul 29, 2008 03:35 PM #1
Rainmaker
310,458
Mike Wong
Keller Williams Realty Southwest - Sugar Land, TX
Realtor: Commercial, Residential, Leasing, Invest

Every Realtor has a niche if they admit it or not. Marketing to your specialty to attract your ideal clients is never a bad thing.

Jul 29, 2008 05:23 PM #2
Rainmaker
505,528
Kathleen Allardyce
Getting It Write, Inc. - Atlanta, GA

Hi!

It's true that picking a niche helps.  But, it's also a difficult concept for a lot of professionals to accept.  They're afraid that if they want more business than they have now, they can't afford to narrow their focus.

Testimonials like yours should help!

Thanks for joining in.

Jul 30, 2008 09:18 AM #3
Rainmaker
643,757
Marchel Peterson
Results Realty - Spring, TX
Spring TX Real Estate E-Pro

Hi Kathleen, It was fun to see your face pop up on my blog log.  You give some good advice.  I love to sell country property and have tried to cater to that niche for quite some time.  Now I have to admit with gas prices I am finding it is better to find those niches that are right in my own back yard.  That doesn't mean that I can't still occasionally do the country property though. 

By the way I met someone at a CRS training that was having you desing their point 2 agent site.  The class was here in Texas but she was from Florida. 

Jul 30, 2008 02:51 PM #4
Rainmaker
505,528
Kathleen Allardyce
Getting It Write, Inc. - Atlanta, GA

Hi Marchel!  It's a small world, isn't it?  I'll have to figure out which of my Florida clients you ran into!

 

Jul 31, 2008 05:07 AM #5
Rainmaker
335,293
Leslie Prest
Leslie Prest, Prest Realty, Sales and Rentals in Payson, AZ - Payson, AZ
Owner, Assoc. Broker, Prest Realty, Payson,

Good advice. Our niche is rental related properties. We work with other people, but we primarily market to Owners, Tenants, investors.

Jul 31, 2008 05:23 AM #6
Rainmaker
505,528
Kathleen Allardyce
Getting It Write, Inc. - Atlanta, GA

Thanks for stoping by, Leslie.  It is amazing how when you become known as an expert in an area, you get more and more of that type of work.

Jul 31, 2008 10:11 AM #7
Rainer
1,703
Joseph Kocaj
Keller Williams Realty Group (Eastchester/Scarsdale NY) - Yonkers, NY

Good job, your right on the money.  I think we all should have a niche. thanks for the read.

Jul 31, 2008 10:23 AM #8
Rainmaker
505,528
Kathleen Allardyce
Getting It Write, Inc. - Atlanta, GA

Thanks Joseph!  Another vote for the niche.

Aug 01, 2008 01:10 AM #9
Rainer
213,242
Barbara Heil-Sonneck
Design2Sell - Atlanta, GA
Home Staging Atlanta

Hi Kathleen, I am revising my Marekting plan right now and this tips are very helpful, thank you

Aug 21, 2009 01:48 AM #10
Rainmaker
505,528
Kathleen Allardyce
Getting It Write, Inc. - Atlanta, GA

Barbara, Thanks for the feedback.  Don't miss other tips and tools at our real estate marketing blog!

 

Aug 21, 2009 03:01 AM #11
Rainer
83,872
Mark Lebkuchner / Home Loan Specialist
Warwick, RI

Hello Kathleen.  I've been reading your very informative blogs over the past few weeks and decided to finally comment.   Marketing has become essential in all aspects of the housing market and I look forward to more of your tips.  Many of them apply to loan officers such as myself.  

Nov 04, 2009 07:56 AM #12
Rainmaker
505,528
Kathleen Allardyce
Getting It Write, Inc. - Atlanta, GA

Mark - Thanks for stopping by!

Nov 05, 2009 12:24 AM #13
Rainmaker
505,528
Kathleen Allardyce
Getting It Write, Inc. - Atlanta, GA

Hi Corinne!  Thanks for the kind words.  It was definitely a pleasure working with you again.  And, for all the latest tips and tricks, visit our Real Estate Marketing Blog, or register for our weekly BRERBlog newsletter - you'll get all the latest!

Jul 17, 2010 04:21 AM #15
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Rainmaker
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Kathleen Allardyce

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