What do you think about when you think of Niche Marketing?

We all have an image or an idea of what it means to us, but have you ever stopped to think about what it ISN’T?

What Niche Marketing is NOT!

Niche marketing is not about trying to sell homes everyone out there. As a single agent or even small team, not only could you not afford that kind of budget, but you wouldn’t have the time to service the clients effectively. It’s just not possible!! But if you truly understand real estate niche marketing, you can begin to sell to a smaller, more targeted and effective market. You can get started doing this in today’s market with only a computer, an Internet connection and a good idea!  

Niche marketing is NOT about trying to compete

Why do you throw yourself into the pack of wolves we call your competition? It’s fierce, ugly and dangerous. If you understand the concepts of niche marketing you can move into a competition free market (Or at least learn to crush any potential competition). When you create your own market, you aren’t lined up next to your competition and ordered to compete; you are in a class of your own.  If done correctly it should be just you selling to a specific audience that you have created. This will result in higher profits, easier sales and less hassle.  

Niche marketing is NOT about selling to every type of client

Once you have figured out who your audience is going to be, you focus on building your ideal list. Then you can market to these people over and over again if it’s the right fit for them. You don’t need to be constantly looking for the next new client to pay your bills. A properly built list of a targeted audience will provide you more than enough income to meet your needs. It just takes time and strategic moves.  

Niche marketing is NOT about focusing on the big picture

Don’t worry! There is plenty of pie to go around. Don’t focus your energy and efforts on trying to get your hands in every area. When you focus on a smaller area ensures you become an expert, well known and trusted. Be a MASTER of your trade, not a jack of all trades and a master of none! You can look to larger markets to start, but it’s important that you begin narrowing your niche down to a very specific part of a larger market. This will assure you get your unfair share of that market.   

Niche marketing is NOT about seeing only the impossibilities

A lot of people think they are going to miss something by going small. They live with a scarcity mindset. They think it’s impossible to “make it” if they focus. But focusing on a well-defined niche, it allows you to see small possibilities that can be converted into big profits.     

Conclusion

If you are wondering if niche marketing is right for your real estate business, just look at other micro markets in your area. Is there anyone doing something different and crushing it? That can be you… You just need to learn the right skills, find the right market and work it!       To you and your niche,   Ryan Smith – The Niche Agent www.TheNicheAgent.com