Due to the challenges involved in today’s tough real estate market, more and more real estate agents are going out of business. This exodus is creating an unprecedented opportunity for marketing savvy real estate agents to move forward and gain massive amounts of market share! The easiest way to focus your marketing efforts is to select a niche and focus on that group. Here are some niches you may want to consider:
A farm – This is the easiest niche for most agents to understand. A farm can be a subdivision, an area like waterfront houses on a certain street, or even a county if it is small. Some great ways to start becoming an expert in an area are to visit all the homes currently for sale in the neighborhood, visit all the FSBOs that currently have their homes available, and offer to hold open houses for agents who have current listings. Let the FSBOs know when you are having your house open so you can coordinate with them to get theirs open as well. Send postcards to homeowners and also start a neighborhood newsletter with sales information and relevant neighborhood information.
First-time home buyers: These are people who need the experience and connections that a real estate agent can provide. To reach these buyers, you can send postcards or tour apartment complexes – renters are great first-time home buyers! Offer to host “lunch and apprenticeships” for large area employers with a younger workforce who need to find housing solutions. You can partner with the affordable housing government agencies in your area to find out the requirements for buyers to qualify. Offer to send them “hot” listings that are in excellent shape and meet the pricing requirements of their programs. Make sure to preview and keep open all the houses in these price ranges that you can get your hands on so you can know which ones will be worth taking your clients to!
Luxury Home Buyers and Sellers – This may look like a farm, but it’s a little different. Targeting high-end buyers and sellers will result in higher commissions and higher expenses! Make sure your marketing materials are professionally designed to appeal to people from a top-tier demographic. Target international buyers by displaying high-end properties on your website and blog (if you don’t have your own listings, “borrow” some of the other agents at their office after asking for permission). Be sure to include information on marinas, yacht clubs, tennis clubs, country clubs, and golf courses on your website. If there are high-end retail areas in your market, list those stores and also any five-star restaurants that may be nearby. Join your local country club and support regional art councils.
Baby Boomers: If you live in a warm climate, this group is for you! Find out all the retirement and 55+ communities in your area and list them on your website or blog. Familiarize yourself with the restrictions in different communities (some allow pets, some do not, some allow one person to be under 55, some require everyone to be over 62). Advertise in the senior magazines in your area, focusing on your experience as a benefit in finding the perfect retirement home. Have a group of providers that you can recommend if they need property management services while traveling north for the summer or visiting family for extended periods.
Those are just four of the thousands of different niches you can choose from! Whether you enjoy boating or golfing, working with buyers or sellers, loving children or dogs, there is a niche for someone like you. Pick something today and focus on it with all your energy and you can capture more market than you ever thought possible!