Ever hear the phrase…”Niches gets Riches?” Sounds corny I know but it is very true. What it essentially means is stop trying to be everything to everyone but instead be something to someone…and do it well! Create or find the 1 or 2 things that you know or can do “decidedly better” than everyone else and just focus on that to be successful. This is true whether you are in Real Estate or another profession. Developing your Real Estate business niche is very important especially in today’s Real Estate space where your field is full of stiff competition. There are too many Realtors out there but the problem is that most of them market to the same people the same way! Therefore they don’t really have a Real Estate business niche. Some people call themselves the “Neighborhood Specialist” but that is just at title they have given themselves…so are they really? Developing a niche is important in the Real Estate business and here is how you can define yours.
Make Your Box Smaller
What that means is take what you consider to be your target market and break that niche down even further. You can say I work with “Sellers in Fairfax Virginia…or you can say…I work with Sellers looking to move up in these 2 XYZ subdivisions near this school.” See the difference? Or I work with Buyers looking to purchase in DC…or “I work with 1st time home buyers in DC who want Condos.” See how that is WAY more specific and allows you to break down exactly WHO your target audience is?
This is necessary because when you are sending out Real Estate marketing material, creating content online, and videos you have to know exactly WHO you are trying to reach so when people search for information online or other places they find YOU! The other reason is that it makes it very clear to your target audience who you are and what you are about. The issue I see with most Realtors is they are marketing to the world, not really knowing who their ideal client is. They chase their next deal till eventually they figure it out and “get it” or they don’t and fail. By defining your Real Estate business niche it will allow you to find an identity and be very clear to your target audience when marketing how you can help them and solve their problems. It will also lead to a lot of business!
As you can see my Real Estate Business Niche is that I’m a “DCTitleGuy” Title Sales Rep who uses a unique marketing approach to educate and teach my target audience (Realtors and Lenders who want to know and learn technology) HOW to use WordPress, Social Media, Target Marketing, and Video to get their Value Proposition out. This in turn leads to purchase contracts and refinance Title Orders for my company (Stewart Title).
Ready to Find your Niche?
Take a look at your business model and narrow it down to who your Real Estate business niche is. Then create marketing pieces and online information (like this) specific to them and their Real Estate need. You will find your phone ringing and forms being filled out online which leads to face to face meetings which leads to closed transactions.