Why Real Estate Niches are Great for Your Biz
It is not always easy to just go with the flow in business. In real estate, the common theme is to farm a neighborhood, buy leads, knock on doors for FSBO’s (for sale by owners) and I can go on and on. I like to take the road less traveled and so should you. Become the expert, the authority, the top of mind professional in the real estate niches you choose to work in.
Lucrative Real Estate Niches
When the housing market crashed and everyone started to become an “expert” in short sales and foreclosures I took a step back from the market due to burn out personally and professionally. Those type of transactions were simply not my thing.
I decided that it made sense for me to go back to my roots which was working with “niche” products that I could sink my hear into. Consumer health product is my background and so finding “niche” real estate markets that had some certainties made sense to me.
I researched areas that I felt would have growth that I felt passionate about. I like the attention to detail, seeing the bigger picture, being the go-to person for many people, being a problem solver and I have a good gut for how to market and brand myself.
As a younger baby boomer interested in market trends I found a couple of niches that I thought would suit my personality but also would not be going away anytime soon. I became educated and certified in working with seniors and baby boomers who need to sell their homes and downsize. I also saw overlap and learned about probate and how to help heirs and personal representatives sell their inherited property and contents. The two niches do have much in common including families and loved ones that deal with a grief component.
These are not necessarily the sexiest niches or simple real estate transactions but they are personally very satisfying for me. Sometimes there is a court order, sometimes a sibling doesn’t want to sell the property, sometimes the seller’s cannot go back to their parents home to clean it out. That is okay…we work as a team and I help guide my clients with the help of their trusted advisers like their attorney and financial planner.
Niches were the key for me to reinvent my biz in 2012 and I feel strongly that at any time you want or need you can revamp and get your business in a profitable mode. I wanted to blend my real estate life with my personal life for more financial freedom and time freedom.
I would not call myself a “grinder” but I do have some spark and hustle that suits my business model…so find a groove that works for you and not other agents. So here is your gift from me to you for 2017…go find your special niche in business…now…quickly…you will be very happy that you did. Here are a Michele Bee’s 10 Tips on Finding Your Niche and how to find your real estate niche strategy!
The Buzz on Finding a Real Estate Niche That Works for You!
- Don’t do something that you are not passionate about…it doesn’t work.
- Research outside of your market and inside of your market who is working in niches that interest you.
- I am a big advocate in picking up the phone and making a call to someone outside of my area for information.
- Set some goals for yourself to achieve each day to learn and grow your niche.
- Google trends and topics in the niche you are considering and look for certifications that make sense.
- Define your niche and find complementary businesses you can work refer biz back and forth to.
- Join relevant networking or mastermind groups…remember bigger isn’t always best.
- Use social media people!!! It is FREE! Not sure how to leverage it…hire someone like a Virtual Assistant that does!
- Get testimonials from clients who are your raving fans!
- Find a niche that allows you a work-life balance.
Keep on the lookout…you never know when I will be adding another niche to my real estate business:)
P.S. Let me help you develop YOUR niche! CLICK HERE TO GET STARTED!