The biggest hurdle I see in the real estate marketplace today is the fear for real estate agents to commit to a niche market. A niche market can provide your business with a brand, a distinguished service offering, and a means to an exit strategy. The benefits are plentiful yet the perceived risks tend to haunt industry professionals.
A niche marketer picks up traffic from an underserved and needy marketplace-you know the economic fundamentals of supply and demand. Ready, willing, and able customers aren't hiding under rocks they are scouring the net and asking for referrals from their Sphere of Influence. The question is will you be top of mind?
If you are marketing yourself effectively as a niche you can bet you will be.
Are you still afraid to let go of those old and tired apron strings? You know, the ones that you were tied to when you first came into the business and you were trained to take everything just to make ends meet? The taste in the mouth of your unsuspecting clients might end up being bittersweet.
This weekend I was contacted online by a home buyer who is having a problem with his new construction real estate contract. The real estate agent who he is working with does not have the experience he needs with new construction homes yet he is already signed, sealed, and delivered on his offer to purchase and is running into some significant issues that need resolution. Now he is working through the grapevine of his real estate agent's friends to get the expertise he needs.
If you oversell yourself as a generalist you do yourself and your customer a disservice.
In a less robust economy YOU can and SHOULD turn to a niche market. Remember you want customers, 
not the looky-loos. You can FIND a niche in any size community and let's be honest, normally you will service more than one town.
Keep your general market knowledge in your back pocket but move beyond the undergrad philosophy. Step into a niche and become the master of your field. If you are still concerned about lack of business by making this move,
- Take on a minor to increase your opportunity.
- Include your knowledge on general areas of real estate and when prospects come to you make a referral.
- Expand and branch out by growing a team full of niche experts.
If you keep your mind open your advantage will become clear and understood.
Niche markets change. If the rate of homeowners delinquent on their payments in your area is 1 of 4, then short sales are not a niche but rather a general study that you need.
Don't get left twisting in the wind. First step out of the industry to get your mind freed up to think more clearly...see how the other half lives,
Freelance writer niche markets- Writing for the golden goose.
Why Niche Marketing is important online- The true anatomy of longtail success.
7 Steps to small business success- Look at Number 1 "Start Smart".
Do yourself a favor today and don't wait 60-90-120 days. Carpe Diem. The time is now to think about a niche. Do you want to stay a generalist to "keep food on the table today"?
Are you cutting off your niche to spite your marketplace?
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Niche Economics is a passion of Real Skillz marketing consulting. Call #262-203-5231 or email rebecca@realestateskillz.com to get your niche in tip top real estate marketing shape.
