Niche’s and “Needs-Based Selling”
How important is needs-based selling?
Its critical to your niche business!
Let me guess, you have probably heard someone saying “I could sell ice to an Eskimo”?!
This may be possible, but is it really RIGHT? Even if possible, I don’t think it would be an ethical thing to do. Plus, you would have to be a heck of a sales person to pull that off. (Unless that ice is in the form of an amazingly sculpted ice castle with a waterfront view and a double car garage! )
But let’s say someone actually pulled off a sale like that. Do you think it would have been an easy sell? I’m sure the Eskimo would have dragged their feet and definitely didn’t jump at the first chance. It would have taken some serious persuasion to pull off something like that.
And why would you even TRY to sell ice to an Eskimo when they clearly don’t even need it?
Anyways, you get the point I’m trying to make, I will save the ice for my drink.
So what does this all have to do with niches? When you have a niche and you are working it, your “selling” actually becomes more about needs based selling, than persuasion. If you get it right, you will actually spend a whole lot less time “selling” and more time helping clients get what they want, and help you get what you want… a SALE!
I told you I wouldn’t talk about ice, but what if that person said they decided to sell a heater to an Eskimo, or better insulation, or some solar heaters. Why? Because it would have shown me that you targeted a market, you understood your markets needs and you sold them something they could actually use and benefit from!
But if my job was to sell ice, then I would find a target market that could use my product and really need it! What if I compiled a list of ice sculptors and sold them “The perfect ice sculpting block”? Or what if I went after music festivals and sold them ice in bulk for their special events? Or went after restaurant, grocery store or convenience stores and sold them ice in bulk to distribute throughout their channels?
This is “needs-based selling”. It’s something your target already needs, or that could make their business better/easier.
So, again, how does this tie into real estate niches? A lot of people think selling real estate is just about the final product: the sale of the home! But there are plenty of needs/wants your potential niche clients will need. Selling them the home is part of the equation, but if you can solve a problem for them and help them fill a need, you have a chance to make them a client for life.
Let’s use senior citizens as an example. The goal in working in the seniors’ niche is to sell their home, or to help them find a home that would be suitable to their needs. But what else is important in the process? Maybe they need to work with a specific type of moving company? Maybe they need someone who is knowledgeable in universal design? Maybe they will need someone who understands estate planning and real estate. These are all needs that the seniors market will need met, and if your systems/services can provide that, you have a much easier time to convert them into a client.
If you don’t have a niche yet and are wondering how you can add in “needs-based selling” into your business, start by creating your ideal client. Write down every need/want they may have (not just in real estate) and then see how you can add value to their experience and you are well on your way to making the sale already.
Still not sure what niche would work for you? Get a copy of the “101 Real Estate Niche Markets” ebook right now to help you get on your way. www.TheNicheAgent.com/ebook
To you and your niche,
Ryan Smith – The Niche Agent