Do You Need A Niche For Your Real Estate Business?
Well since you are reading this on The Niche Agent blog, I’m sure you can guess that the answer is yes! Of course you need a niche!
The first objection people have to whether or not they should choose a niche in their real estate business is that they feel it will limit their business. My first response is that the niche doesn’t have to be your ONLY source of business. (But I can be!) Unless you live in a tiny town with a tiny population, it’s usually a more profitable and easier way to take over your market. And usually ends up costing a lot less money!
Once you have selected the niche market you want to target, you can then market exclusively to the demographic of your choice. This frees up more time and resources, but the main thing is it will allow you to position yourself as the expert. And ultimately, that is what we are after when we become a niche marketing agent!
How to you actually pick a niche?
This is something we will talk about over and over here at The Niche Agent. This can be one of the hardest step for agents. They are afraid of marketing themselves out of business and they don’t know how small is too small when narrowing their focus. That’s one of the reasons we created this project. We want to share with agents how to find that niche and master it!
A good way to select a niche is to choose a market you will enjoy working with. (Or already are working with) Part of the success of working with a niche is to actually enjoy it! You are going to be working with these people on a regular basis, so you might as well choose a target audience you will enjoy working with.
You may choose something you have in common with such as targeting an organization you belong to, working with a specific age group, targeting people in an industry you were/are part of etc.
You may also choose a geographic niche. Targeting a specific neighbourhood, condo complex, waterfront homes etc. can prove to be very effective and a great way to become that real estate specialist.
Whatever you choose, it’s important that you learn all about what matters most to your market so that you can quickly become the specialist they need. I’m sure you would agree, you need a niche! Make sure you know more than the consumer and that they know you are the go to person if they need your services. So start thinking of your niche now and get working at it!
Ryan Smith – The Niche Agent
“Your Niche Is Our Niche”