Developing Your Real Estate Niche
It’s quite common for top-producing real estate agents to have a particular focus or niche. There are many underlying factors as to why this time-tested strategy works.
Is developing a real estate niche for you? If it brings success, it should be. Specialization makes sense for many, and with a disciplined, effective and efficient plan there’s no reason why you can’t also develop a focus for your brand. Here are five ways to develop a real estate niche.
Develop an expertise. Simply, become an expert at something. People want to hire an expert in their field who has a specialty that can serve them. Focusing on a particular type of housing, a certain neighborhood or a specific demographic of client can jump-start your specialization.
Network a neighborhood. An agent is only as successful as the size of their network. Networking is critical, and when you have a focused and strategic plan to network within a specific neighborhood through community groups, events, charities or localized social media it can create a niche.
Analyze local trends. Pay attention to what is going on right in front of you through data, trends and demographics. Is your area full of millennials? Is there a group of people not being served? Is a particular street or type of housing hot?
Defined skills or knowledge. A great way to develop a niche in real estate is to have a specialized base or knowledge, such as working with global clients or focusing on distressed properties, multi-family homes, veteran’s programs or bank-owned properties.
Have a passion or sphere of influence. Think outside of real estate about your hobbies or the things you know a lot about. Get to know like-minded people and start to incorporate your personal interests with your real estate business, allowing you to more easily connect with potential clients.