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The coming year will see a lot of changes in the real estate industry.   Many reading my blogs today won't be in the industry this time next year.    They'll have moved on to seek new opportunities.   This may not be such a bad thing.  There are too many agents trying to scratch out a living in an industry that's over-populated relative to its current potential.   

In all industries a weeding out is necessary from time to time.   A separating of the wheat from the chaff. It's good for the industry and it's good for those who evolve with it.  Those who remain in real estate during its darkest days and succeed are those who will reep the greatest rewards at the time of recovery.

In these days of uncertainty everything we do is a learning curve.   Even the "so called" experts are groping in the dark trying to get a handle on the economy and find new ways of turning it around.   Everyone is searching for a formula that works.

It doesn't take much of a crystal ball reading to see what's coming in 2009....but it does take talent to weave yourself through the mine field and carve out a place for yourself within the new paradigm.  A good place to start is by asking yourself, "why should anyone come to you to buy a home, rather than your competitor?"   What is it that you can offer your customer that no one else can?   If your answer is honesty, sincerity, knowledge of the market, years of experience, several letters behind your name etc. etc., it's time to think again. That CV is offered by everyone and his brother.

The correct answer has nothing to do with YOU!!  In fact you don't even enter the equation.  The correct answer is meeting your customer's specific needs in a way that's meaningful and advantageous to him.  Your customer's only interest is in having his special real estate needs serviced.   The agent is merely the facilitator of those needs.   Your marketing should be directly aimed at meeting customer expectations.....with less emphasis on your own personal CV.

Target marketing, niche marketing, specialization or what ever you choose to call it should be strongly considered.  By specializing in a key target market you place yourself in a unique category and eliminate competition from those agents trying to be all things to all people.  Choosing your selected target market will take some research and study. 

The next step is promotion.  Networking within groups in your targeted area. Branding your name.   Forming relationships, not just handing out business cards.  Making endless contact.   Becoming a central figure in your community.   No one said real estate was going to be least not in the past year and a half.

Subscribe to my blogs just above my photo for news you can use every day.

Thanks. Sincerely, David


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Susan Emo
Sotheby's International Realty Canada - Brokerage - Kingston, ON
Kingston and the 1000 Islands Area

Target marketing, niche marketing, specialization, and a Tailgate Tag will get me thru 2009 smiling!   Thanks for another great post David.

Nov 30, 2008 06:16 AM #1
Li Read
Sea to Sky Premier Properties (Salt Spring) - Salt Spring Island, BC
Caring expertise...knowledge for you! always make me think.    It has become a consumer centric model, this real estate biz, and you're right: the realtor must differentiate to keep in the loop.   

Nov 30, 2008 06:16 AM #2
Svetlana Stolyarova
Local-n-Global Realty, Cleveland and International Real Estate Solution - Mayfield Heights, OH
Local-n-Global Realty, Broker 216-548-4663

David - excellent post. Whatever year we will experience - be where the clients are and deliver what the clients need. Sure it should be still a lot of "everyone and his brother".  However, 93/7 ratio which dominates on our market now, more likely will come to more logical 96/4, as Paretto law is still the law . 4 % of all agents will do 96 % of all business.   4 % of most prominent, specialized, professional agents. Way to go!

Nov 30, 2008 08:16 AM #3
real estate real estate
Providence, RI

David, you alwayd write motivational posts. Target marketing and niche marketing should also apply to other industries as well. I have another business and will apply these techniques to it.

Nov 30, 2008 02:19 PM #4
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