There Are Riches in Real Estate Niches
Are you trying to find your vibe as a Realtor in today’s crazy real estate market? Feeling burnt out? New to the biz? Overwhelmed with social media and what to do? I have a fix for you!
As I speak to agents at conferences and events around the country I am finding the need to really hammer home that idea that finding a real estate niche is an incredibly powerful and profitable way to manage and grow your real estate business!
Stop buying leads and start attracting customers with listing and buyer niches! Attraction marketing works and as we go into a new decade it should be on the top of every Realtor’s marketing to do list!
I have always liked to take the road less traveled and by focusing on a niche you become the go to, the expert, the specialist the top of mind real estate agent a seller or buyer wants to work with.
What Is A Niche
In a short and simple explanation a niche is really a subset of a larger sector. For example real estate is a large niche. Breaking down the large niche to sub niches like waterfront property, first time home buyers, seniors downsizing, probate properties, divorce real estate and many other scenarios depending on where you live will help you become a niches expert in your city or town.
Why Work With a Real Estate Niche
The ROI is big. You spend less and you focus on what others are not typically paying attention to.
When you have a zero marketing budget you get creative. After some serious research based on what I had sold, what my strengths and weaknesses were and what my passion was I decided to focus on probate real estate in 2012. PS…I was ready to leave the business after the housing crisis and recession.
I had a personal experience with this niche when both of my parents passed away and I had worked with buyers purchasing probate property. Many South Florida sellers live out of state and need someone with boots on the ground to help them coordinate the sale of the probate property, the clean out, estate sale, charitable donations and shipping of items. This was a good fit for my personality and my skill set.
Benefits to Finding a Real Estate Niche
- You become the expert in your niche
- Your marketing dollars are very focused and you spend less
- It differentiates you from other real estate agents in your market
- You can keep your branding on point and simple
- You get buyers from your own listings and you don’t buy leads or zip codes
- You can create a side hustle from your main niche
- You will be filling a need
- Networking is focused
- Less competition
- Content marketing becomes easier
How To Find A Real Estate Niche
Finding a niche in real estate is not terribly difficult but finding one that is a good fit for your personality, strengths and passion can be. I suggest that you sit down for an hour or two and and think about what transactions and customers you have enjoyed working with and then narrow it down to niches that may be a great fit.
Are REO’s your thing? Second homes? Investors? Divorce? Get your FREE 50 niches in real estate worksheet here!
By targeting a niche you become that big fish in small pond and the go to agent in your community for that niche. The possibilities are endless when you niche in regard to marketing your brand and your experience.
The key to being successful in a niche is to educate yourself, learn as much as you can about the niche you are choosing and stay focused on that niche.
Tips To Working In a Niche
- Be passionate about your niche.
- Work with niches that interest you.
- Research a few niches and speak to agents that are working in them.
- Set daily goals to build your niche brand.
- Google trends and topics in the niche to help you create content to share.
- Once your niche is defined, find complementary businesses that can be your referral partners.
- Join relevant networking or mastermind groups…remember bigger isn’t always best.
- Use social media! It is FREE! Need help with your social media plan and content calendar? Set up a discovery call!
- Find a niche that allows you a work-life balance.
- Master this first niche and add a second one that compliments the first one.
Get Started Today
If you are struggling as an agent in today’s real estate market I suggest you take a long look at focusing on a listing niche in your business.
If you are a new agent then for sure you should start your career off with a specialty and if you are feeling burnt out trying to chase every buyer or seller lead that comes your way, with not much luck, perhaps it is time to rethink how you are managing your business and time.
These riches in real estate niches tips should help you align how you see your real estate career going and the upside with a niche…you can truly have some real balance in your work life.
Want more tips on niches? Follow me on Instagram!
P.S. Let me help you develop YOUR niche! Lets chat!